Think20 for criminalisation of terror funding

ANTALYA: In the wake of deadly terror attacks in Paris, a think-tank grouping of world's 20 large countries has called for effective steps to criminalise terror financing and eliminate such financial flows.

The Think20, under the leadership of The Economic Policy Research Foundation of Turkey ( TEPAV), also reiterated the call from the G20 finance ministers to strengthen and make more open the exchange of information and the freezing of assets associated with terrorist activity.

"A greater transparency of financial flows and a commitment from countries to the criminalisation of terrorist financing and financial sanctions is necessary to restrict and eliminate terrorist financial flows," the Think20 said in a statement.

The T20 meeting which happened ahead of the G20 meet here, stressed for action to address the economic and social underpinnings of terrorism.

"The Think20 calls on the G20 to prioritise its efforts in promoting global sustainable development and building the basis for longer-term shared prosperity," a statement said.

The G20 Summit, which was to discuss inclusive and robust growth, is set to adopt a resolution at the end of the two day meeting tomorrow calling for better coordination and exchange of information to cut off funding and a more comprehensive approach on "addressing the conditions conducive to terrorism."

The T20 statement said that the G20 Finance Ministers at their meeting in Ankara had also affirmed that fight against terrorism and its sources of funding is a major priority for G20 countries.