Riyadh (UNA-OIC) – The Islamic Military Counter Terrorism Coalition (IMCTC) held on Wednesday at its headquarters in Riyadh a presentation entitled “Implementation of the UN Security Council Resolutions Relevant to Counterterrorism and Terrorism Financing”.
The presentation was delivered by Sulaiman bin Ali Al-Zabin, head of the anti-money laundering and terrorism financing department, Saudi Central Bank, in the presence of the IMCTC Acting Secretary-General, delegates of the member countries, and IMCTC personnel.
Al-Zabin addressed the mechanism for implementing Security Council resolutions on combating terrorism and its financing, and the extent of their enforcement in the concerned countries. He also touched on the procedures to be followed by financial institutions in the event they discovered that the funds in their possession or under their management must be frozen, as well as the procedures to be followed by financial institutions in the event of lifting the freezing order.
The lecturer further addressed the role of the Saudi Central Bank in verifying the commitment of financial institutions to implement Security Council resolutions on combating terrorism and its financing. He highlighted the penalties that are applied in case of non-compliance with the requirements and procedures stipulated in the mechanisms for implementing Security Council resolutions on combating terrorism and its financing.
It is noteworthy that the presentation comes as a part of the series of symposia, presentations and roundtable discussions organized by IMCTC in the counter-terrorist financing domain, which is one of the coalition’s four domains of action (i.e., Ideology, Communications, Counter-Terrorist Financing and Military).