BI seeks regional cooperation to curb terrorist funding
BI seeks regional cooperation to curb terrorist funding
The Jakarta Post, Jakarta
Bank Indonesia is working on strengthening cooperation with
central bankers in the region to improve its ability to detect
the flow of terrorist funds, as part of the drive against
terrorism, central bank Governor Burhanuddin Abdullah said on
Monday.
Burhanuddin said he had just arrived from Singapore, where he
had discussed the issue with his counterpart, and planned to meet
with the monetary authorities in Thailand and other countries.
"I just went to Singapore to increase cooperation with the
Singaporean monetary authority. I will also meet with Thailand's
central bank governor," Burhanuddin said.
He did not elaborate on how this improved cooperation would be
achieved, but said there would be meetings to look into technical
matters.
Burhanuddin said "a Singaporean envoy will come here, while we
will study the antiterrorism measures of other nations".
Whether these efforts prove effective in curbing the flow of
terrorist funding remains to be seen, but they do reflect the
increasing sense of urgency in the region over the terrorist
threat.
Although Indonesia and the other member countries of the
Association of Southeast Asian Nations (ASEAN) have agreed to
increase cooperation to clamp down on terrorist funding, experts
have said that financial controls must be tightened for improved
detection.
A powerful blast hit the JW Marriott Hotel in Jakarta on Aug.
5, killing 12 people. The attack took place less than a year
after the Bali bombings killed more than 200 people and severely
damaged the country's tourist industry.
Following the Bali bombings, Indonesia joined other Asian and
Western nations in pledging to implement a broad range of
measures aimed at cutting financing for terrorist groups.
These steps include the establishment of intelligence units to
detect suspicious transactions and freeze the assets of suspected
terrorists.
For Indonesia, the efforts of the antiterrorism campaign have
largely been focused on battling money laundering, including the
laundering of terrorist-related funds.
Indonesia enacted a money laundering law last year, but is
under intense pressure to amend the law by the end of next month
at the latest, or be sanctioned by international financial
watchdog the Financial Action Task Force.
Burhanuddin denied his planned meeting with Thailand's central
bank governor was aimed at uncovering information on the bank
accounts of Hambali, an Indonesian-born suspected terrorist who
was recently arrested in Thailand.
"Relating to Hambali, I have not received any report yet," he
said.
Hambali is suspected of masterminding the Bali bombings and is
believed to be the key person in a series of terrorist attacks in
the region.