Financial Daily from THE HINDU group of publications
Tuesday, Feb 12, 2002
Money & Banking
Indo-US talks to block terror funds
Mr Kenneth Dam, US Department Deputy Secretary of the Treasury, with Dr Bimal Jalan, RBI Governor, at the RBI in Mumbai on Monday.
MUMBAI, Feb. 11
THE Reserve Bank of India Governor, Dr Bimal Jalan, on Monday held talks with the Deputy Secretary, US Treasury Department, Mr Kenneth Dam, on blocking terrorist-related funds movement and money laundering.
According to the RBI, the two officials discussed issues of mutual interest, including world economic outlook and co-operation on issues relating to terrorism.
Earlier, addressing newspersons at the US Consulate here, Mr Dam said he was co-ordinating an international strategy to stop the flow of money to terrorists.
He said currently, 147 countries, including India, were co-operating with the US in blocking accounts.
Mr Dam said he had identified six challenges: More information sharing;
encouraging independent notification of terrorist groups by other nations;
redoubling efforts against hawalas; redoubling efforts by the US and allied nations against charities, particularly the role of donors; exploiting the industrial quantity of documents captured in Afghanistan and elsewhere.
Mr Dam said his interaction in India centred on two areas dialogue on ways to strengthen the Indian economy and co-operative efforts to combat financing of terrorism.
According to him, the "road-map for India to achieve growth and prosperity is crystal clear fiscal reform, financial sector reform, attention to investment climate, and trade liberalisation''.
He said the goal of 8-9 per cent real growth is "noble and attainable'' for India.
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