US to lead UN Security Council meeting on terror financing

US to lead UN Security Council meeting on terror financing

US Treasury Secretary Jacob Lew will chair a first-ever summit of the finance ministers of the UN Security Council this month, to discuss combating terror group finances, the Treasury said Friday.

There will be a particular focus on the jihadist Islamic State group.

The December 17 meeting at the United Nations in New York is expected to adopt a resolution designed to choke off terror groups' sources of finance, the Treasury said in a statement.

It will be the first such meeting of finance ministers specifically from Security Council member nations, the Treasury said, calling it a demonstration of "the increasingly specialized work needed to combat terrorism."

Cutting the Islamic State group off from the international financial system & disrupting its financing "are critical to effectively combating this violent terrorist group," Lew said in a statement.

"A united international front is vital to achieve that goal."

The Treasury has undertaken extensive efforts since the terror attacks of 2001 to trace & combat the financing of violent extremist groups around the globe.

Source: “AFP”