360° Coverage : India, US to target terrorist financing, money laundering

India, US to target terrorist financing, money laundering

Washington, Oct 13 (IANS) Focusing on terrorism financing and money laundering, India and the US have agreed to expand cooperation in targeting the financial networks of terrorist organisations, including Pakistan based Lashkar-e-Taeba (LeT).

Oct 13 2013, 1:42pm CDT | by IANS

India, US to target terrorist financing, money laundering
Photo Credit: , Getty Images

Washington, Oct 13 — Focusing on terrorism financing and money laundering, India and the US have agreed to expand cooperation in targeting the financial networks of terrorist organisations, including Pakistan based Lashkar-e-Taeba (LeT).

Besides LeT, held responsible for the November 2008 Mumbai terrorist attacks, also targeted will be its religious front Jamaat-ud Dawa (JuD) headed by Mumbai attack mastermind Hafez Saeed, and the Haqqani Network, which is blamed for the 2008 Indian embassy bombing in Kabul.

The agreement to target terrorism financing was reached at the fourth annual meeting of the US-India Economic and Financial Partnership here Sunday, co-chaired by Indian Finance Minister P. Chidambaram and US Treasury Secretary Jacob Lew.

They also agreed to enhance cooperation between the agencies of the two countries in fighting against counterfeiting currency and illicit financial flows, Arvind Mayaram, secretary, department of economic affairs, said in press statement.

The two sides also agreed to increase engagement by experts from both governments to make "expeditious progress to address all trade and investment policy issues of bilateral concern so as to remove obstacles and improve the business environment in both countries," he said.

Chidambaram and Lew agreed to deepen India-US cooperation bilaterally and in multilateral fora, including the G-20, to achieve reforms for stronger, more sustainable and more balanced growth, Mayaram said.

"They also reaffirmed the importance of enhancing the credibility, legitimacy and effectiveness of the International Monetary Fund and the urgent need to ratify the 2010 IMF Quota and Governance Reform," he said.

They also agreed to continue working towards a greater understanding of all investment related issues including taxation and IT enabled services, an equitable and principled resolution of ongoing tax disputes, and strengthened bilateral ties in this regard.

The two leaders agreed to continue to cooperate on deepening capital markets and strengthening financial regulation, Mayaram said.

The meeting was also attended by Reserve Bank of India Governor Raghuram Rajan, Secretary-Financial Services Rajiv Takru, Indian Ambassador Nirupama Rao and Securities Exchange Board of India Chairman U.K. Sinha.

On the US side, Chairman of US Federal Reserve Ben Bernanke and US Treasury Under Secretary Lael Brainard joined the discussions.

Discussing recent economic and financial developments in the two economies, Chidambaram and Lew agreed that sound macroeconomic policies, structural reforms, and strong prudential frameworks will help them increase resiliency to financial market volatility and boost economic growth, Mayaram said.

The leaders discussed the importance of investment for driving economic growth and job creation in the two economies and ways to improve the enabling environments to mobilise investment, especially for the financing of infrastructure.

The next meeting of the Partnership will be held in New Delhi in 2014.

Chidambaram leaves later Sunday for San Francisco where he would interact with the investors and highlight India as a highly attractive destination for investment. He would return home Oct 16.

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 
 
 

blog comments powered by Disqus

Latest stories

School headmaster shot dead in Pakistan
Islamabad, Dec 4 (IANS) Unidentified gunmen Thursday killed the headmaster of a private school in Pakistan's Balochistan province.
 
 
Four more bodies recovered from sunken South Korean ship
Seoul, Dec 4 (IANS) Four more bodies were recovered Thursday from a sunken South Korean fishing ship in the Bering Sea, the foreign ministry here said.
 
 
Lesbian couple asked to desist in London restaurant
London, Dec 4 (IANS) A lesbian couple in a London restaurant was asked to desist by a staff member, who asked them to "stop what you are doing".
 
 
Oxford Dictionaries to add 1,000 new words
London, Dec 4 (IANS) 'Mamil' (middle-aged man in Lycra), 'silvertail' (a person who is socially prominent or who displays social aspirations) and 'crony capitalism' are among the 1,000 new words to be added to OxfordDictionaries.com, the free online dictionary, in its largest quarterly update so far.
 
 
 

Latest from the Network

Australian researcher discovers first artwork by early human
Sydney, Dec 4 (IANS) An Australian researcher has discovered what is believed to be the first artwork created by a human. The simple zigzag pattern found on a fossilized shell from the Indonesian island of Java has...
Read more on Celebrity Balla
 
Insects compete with rats to clear garbage
New York, Dec 4 (IANS) Insects play a very important role in cleaning up cities and they compete with other pests like rats and pigeons in their endeavour, a study has said. Scientists sampled arthropods - such as...
Read more on Business Balla
 
School headmaster shot dead in Pakistan
Islamabad, Dec 4 (IANS) Unidentified gunmen Thursday killed the headmaster of a private school in Pakistan's Balochistan province. Police officials said the armed men opened fire at the vehicle of Zahid Ali,...
Read more on Politics Balla
 
Four more bodies recovered from sunken South Korean ship
Seoul, Dec 4 (IANS) Four more bodies were recovered Thursday from a sunken South Korean fishing ship in the Bering Sea, the foreign ministry here said. This increased the toll to 16, including six South Koreans and 10...
Read more on Politics Balla
 
Lesbian couple asked to desist in London restaurant
London, Dec 4 (IANS) A lesbian couple in a London restaurant was asked to desist by a staff member, who asked them to "stop what you are doing". Lydia Cawson, 29, said that she and her girlfriend were asked by a staff...
Read more on Politics Balla
 
Oxford Dictionaries to add 1,000 new words
London, Dec 4 (IANS) 'Mamil' (middle-aged man in Lycra), 'silvertail' (a person who is socially prominent or who displays social aspirations) and 'crony capitalism' are among the 1,000 new words to be added to...
Read more on Celebrity Balla
 
Oceans play key role in global 'warming hiatus'
London, Dec 4 (IANS) Increased heat uptake across three oceans - North Atlantic, the Southern Ocean and Equatorial Pacific Ocean - is the likely cause of the 'warming hiatus' -- the current decade-long slowdown in...
Read more on Politics Balla
 
Novel imaging to identify if TB drugs are working
Washington, Dec 4 (IANS) Tuberculosis patients who are not cured of the infection can develop multi-drug resistant TB and have to take as many as six drugs for two years. Now, researchers at University of Pittsburgh...
Read more on Business Balla
 
PM makes first appointment to High Court of Australia
Canberra, Dec 4 (IANS) Prime Minister Tony Abbott's government Thursday appointed former Victorian Supreme Court judge Geoffrey Nettle as the next Justice of the High Court of Australia. Attorney General George...
Read more on Politics Balla
 
18 suspected militants killed in Pakistan airstrikes
Islamabad, Dec 4 (IANS) At least 18 suspected militants were killed Thursday in airstrikes conducted by Pakistan Air Force fighter jets in North Waziristan. According to officials, the airstrikes were conducted in...
Read more on Politics Balla