Bahrain’s efforts in combating financing of terrorism highlighted

New York, Mar. 29 (BNA): The Permanent Representative of the Kingdom of Bahrain to the United Nations, Ambassador Jamal Faris Al-Ruwaie, said the legal frameworks to combat the financing of terrorism are based on several laws and regulations in the Kingdom of Bahrain. He particularly cited Law 4 /2001 on the Prohibition and Combating of Money Laundering and Law 25 and 54/2013 amending its provisions as well as Law 7/2017 on ratification of the Arab Convention on combating Money Laundering and Financing of Terrorism. This came as the Permanent Representative took part in the UN Security Council’s open debate on the prevention and combating of the financing of terrorism, called for by the French Presidency of the Council under the item on terrorist acts threats to international peace and security and attended by a number of Foreign and Defense Ministers. Ambassador Ruaie highlighted the efforts of the Kingdom of Bahrain in the fight against the financing of terrorism within the international partnership frameworks in which it is contributing relentless efforts along with the international community to combat and defeat the scourge of terrorism. Terrorism, he said, is being financed and supported by individuals, groups and countries such as Iran which finances terrorism in the region despite the efforts and initiatives of the international community to, trace and deal with this scourge. He stressed the Kingdom of Bahrain's keenness to fully participate with the international community in combating the financing of terrorism by joining FATF-style regional organizations and actively participating in all FATF meetings. FATF is one of the five working groups operating within the framework of the International Alliance against Daesh with the aims of lobbying against Daesh and drying out it sources of funding by implementing a joint action plan among the coalition countries. The Permanent Representative referred to the activities carried out by the Kingdom of Bahrain, such as its participation in the 8th EU- Gulf Anti-Terrorist Financing Workshop and the Workshop on Charitable Donations, its efforts to Combat the Financing of Terrorism and Violent Extremism in coordination with the Central Bank of Bahrain, the General Secretariat of the Gulf Cooperation Council and the United States. He also mentioned the participation of the Kingdom of Bahrain in the 10th meeting of the "COUNTER ISIS FINANCING GROUP" in Warsaw, Poland on 20-21 September 2018 in its capacity as a member of the Center, chaired by the United States of America and Saudi Arabia. The meeting discussed the center’s governance document targeting the financing of terrorism and reviewed the basic principles of the document format, the role of the Executive Committee and the decision-making mechanisms for the classification of the individuals and entities financing terrorist acts. At the end of his speech, the Permanent Representative stressed the importance of working out of a comprehensive approach to combat terrorism and its means of financing and ways of enhancing national and collective participation in the fight against the financing of terrorism. In this context, he affirmed Bahrain's commitment to work side by side with the international community to thwart all terrorism and extremism - supporting efforts, be it financially or intellectually, out of belief that all sides are partners in safeguarding world security and peace.