Malaysia will host the 3rd Counter-Terrorism Financing (CTF) Summit in November 2017. Previously, the CTF Summit was co-hosted and founded by the financial intelligence units of Australia and Indonesia, held first in Sydney in 2015 and then Bali in 2016.
The Summit in Malaysia, to be held from 20 to 23 November 2017, is a platform for participating countries to collaboratively develop real solutions in countering terrorism financing. The event is organised following the success of the 2016 CTF Summit in Bali, Indonesia which involved more than 200 specialists from over 20 countries. This year, the summit will include greater private sector participation.
Dr. Ahmad Zahid Hamidi, Deputy Prime Minister and Minister of Home Affairs in Malaysia said, "Financial resources is a major factor that contributes to the development of terrorist networking. Malaysia is committed in negating financial flows to terrorist groups to disrupt their network and related activities. To ensure effective deployment of this initiative, strong collaboration with regional and international partners is crucial."
Bank Negara Malaysia’s Governor, Muhammad bin Ibrahim said "Bank Negara Malaysia (the Bank) is pleased to host the internationally recognised summit this year that will include promoting the strategic partnership between public and private sectors to respond effectively towards terrorism financing risks. Under the National Coordination Committee to Counter Money Laundering, the Bank, together with other domestic stakeholders, is ready to contribute towards robust outcomes in our regional efforts to counter terrorism financing."
Australian Minister for Justice, Michael Keenan said the CTF Summit has developed a reputation for delivering real outcomes, including the release of the first ever regional risk assessment into terrorism financing.
"Common borders, increasingly integrated economies, and the spread of a common radical ideology provide the basis for terror financing, with affects that can impact us all," Mr Keenan said.
"By bringing together countries from the South-East Asia and Australia region, we can develop a more detailed and nuanced regional understanding of the drivers behind terrorism financing risk and ways to combat this threat."
Coordinating Minister for Political, Legal and Security Affairs of Indonesia, Wiranto commended Malaysia for their willingness to host the largest and most significant event in counter-terrorism financing within our region.
"Terrorism remains a key threat to social and economic stability globally," Wiranto said.
"Transnational threats require a global response and we appreciate the leadership that is shown by our colleagues in Malaysia."