'Beirut Declaration' to combat terrorism financing signed

The Union of Arab Banks and the Council of Arab Interior Ministers on Thursday issued here the "Beirut Declaration" that aims at enhancing cooperation to dry up the financing of terrorist organizations.

On the sidelines of the forum entitled "Mechanisms for Drying up the sources of Terrorism Financing," the Arab Banks Union and the Arab Council of Interior Ministers signed an understanding memorandum to enhance the "common work in combating terrorism and terrorist organizations."

The memorandum also put stress on "combating financing terrorist organizations, understanding trends, typologies and cash movements and the means of controlling and strategies of supervision of Dirty Money."

The forum was held under the auspices and presence of Lebanon's Interior Minister Nohad Mashnouq and attended by a number of Arab bankers and security chiefs.