India may have secretariat for global 'No Money for Terror' initiative

India is likely to set up a secretariat to deal with anti-money laundering and combating the financing of terrorism issues under the global 'No Money for Terror' initiative.

The country indicated this at the third 'No Money for Terror' conference which concluded on Saturday, a senior government functionary said.

The two-day conference here was attended by 450 delegates from over 75 nations and international organisations.

"India is keen to establish a secretariat to deal with anti-money laundering/ combating the financing of terrorism (AML/CFT) issues. Discussions are going on with international partners in this direction," the functionary said.

New Delhi is also optimistic to institutionalise the 'No Money for Terror' conference by ensuring it as an annual event, the functionary said.

The global watchdog on terror financing and money laundering, Financial Action Task Force (FATF), which participated in the conference, has also expressed willingness to work closely on AML and CFT issues under India's G-20 priorities.

The functionary said India is positioning itself as a global player in counter-terrorism initiatives and not just limiting its discourse only on Pakistan-centric issues.

While addressing the concluding session of the conference, Union Home Minister Amit Shah said in the last few decades, India has successfully tackled many challenges, including terrorism.

He said with the country's policy of zero-tolerance towards terrorism, strong framework of counter-terror laws and empowerment of agencies, India has seen a significant reduction in incidents of terrorism and has succeeded in ensuring strict punishment in cases of terrorism.

Nigeria is likely to host the next 'No Money for Terror' conference.

The delegation representing Nigeria at the conference conveyed that they would consult their government and take a final decision in this regard, official sources said.