Your Excellences, Chiefs of Staff of the IMAFT member states,

Dear audience,

I am pleased and honored to welcome you all here. I would like to thank the organizers for the splendid organization of this important meeting. I also would like to welcome those who came from outside the Kingdom to their second country.

Dear audience,

Violence against innocents has become a heinous criminal phenomenon that shows no mercy towards children, women and older people. It has become rather atrocious and seeks destruction and devastation of countries, and destabilization of peace and security. Countries of various nationalities, beliefs and ideologies have been affected by terror acts. This proves that terrorism has no religion nor geographical boundaries. Rather, it is a fatal phenomenon against which efforts of peace advocates have been mobilized to combat and fight.

Undoubtedly, terrorist financing affects dramatically financial and economic systems and institutions, stability and reputation of global markets, and international peace and security. Therefore, combating this crime has become an utmost priority on agendas of international and regional meetings and related high-level gatherings, including this meeting. This is due to its serious risks to financial, economic and social stability of all countries. In addition, its negative impact and risk posed on the individuals or the security and stability of the countries. This serious threat puts us under the obligation of greater cooperation and coordination among us, as combating this disease is no longer a domestic issue that is confined to the borders of a certain country. It has gone beyond that, and as such, become a goal for the entire international community. In addition, collective action to combat this crime is no longer an option for any of us; it is, however, a commitment, especially in this year that has witnessed a number of unprecedented, successive challenges and events. The collective action should address in particular the increasing risks of this phenomenon that are not confined to a specific country, but transcend to other countries, as they are transnational and complicated. The complexity is attributable to the highly-skilled terrorist financiers and their reliance on organized mechanisms, modern instruments and sophisticated communication systems to exploit the services provided by financial and non-financial institutions in executing their transactions.

Dear audience,

Terrorist groups use traditional and modern technologies to finance their operations and activities, including recruitment and regional and international expansion. This demonstrates the threat posed by such groups to international peace and security. A number of international organizations have been studying the methods of financing such groups in order to take preventive measures to confront the mobilization of financial resources for these terrorist groups. Some international reports have revealed the volume of financial resources for some of the terrorist organization around the world. For instance, the UN Secretary General's report, issued in January 2016, referred to the threat posed by the Islamic State in Iraq and the Levant (ISIL) to international peace and security and the range of UN efforts in support of member states in combating this threat. The report pointed out that the amount of funds the ISIL generated by trading in oil and petroleum products was $400-$500 million in 2015. ISIL uses such revenues to finance the purchases of arms, military equipment, ammunition and payment of its fighters' salaries. The group also uses other financing methods, such as kidnapping for ransom. The funds reaped by such activities were about $35-$45 million in 2014, in addition to ($850,000) in 2015. Other reports estimated a funding of $1 billion generated by ISIL from looting banks in the territories under its control or levying taxes on businesses and agricultural goods and commodities. ISIL designates such taxes as "Zakat", a religious term, in an attempt to legitimize such action. The report also showed that the number of ISIL foreign fighters is nearly 30 thousand.

Some reports revealed the volume of funds seized by countries in the past period. The most prominent of which was the 2015 FATF report that estimated the funds seized on suspicion of terrorist financing by approximately €59 million.

These figures prove the serious threat of terrorist groups and their financial resources, in addition to their ability to adapt to developments and measures taken by countries to put an end to their finance.

Under the current situations and with international consensus on combating extremism and violence of all forms and manifestations in any place, countries have gone beyond the usual, traditional techniques to that end. They have adopted rigid strategies and actions that are characterized by practicality and immediate effectiveness through official channels. At the top of the list of these channels is the UN and its concerned apparatuses, especially the Security Council (SC) and its resolutions issued in this regard, in particular those related to cutting off sources of terrorist financing and combating the recruitment of fighters, foreign fighters in particular. This has also become one of the priorities in the work, recommendations and decisions of the G-20 member countries.

Dear audience,

Terrorist financing is the main contributor to nurturing and fueling terrorism that is contrary to the tolerant teachings of Islam. Therefore, let me please make clear that the Kingdom of Saudi Arabia has been confronting and standing against terrorism and its financing firmly and decisively. It has reaffirmed its rejection and condemnation of terrorism and its financing of all forms and manifestations and been proactive in the efforts and means for preventing their risks. Further, it has been exerting relentless and persistent efforts to joining and contributing to international and binary efforts, and committing to the endorsement and implementation of related international resolutions.

Also, The IMAFT member states have been making tremendous efforts in combating terrorism and its financing and have undergone numerous experiences to enhance their compliance with the international standards in this respect. This has led to accumulated experiences. They have also continued to make considerable and tangible steps in combating terrorist financing, and as such, they have become experienced in this area.

On the basis of several principles and specified objectives, the IMAFT countries seek cooperation with the international community to fight the crimes of terrorism and its financing and will adopt, in their operations, FATF standards, known as the Forty Recommendations, to combat money laundering, terrorist financing, and the proliferation of weapons; and what is issued by the UN and its concerned bodies. They will also cooperate with international organizations and related action forces, notably FATF, to fulfill the alliance's goals.

The alliance will work to promote the compliance with international standards and recommendations and ensure the effectiveness of the laws applied by the alliance member states and their consistency with these standards and recommendations. Also, they will work towards raising the level of awareness about methods, techniques, and modern trends of terrorist financing; reaching best solutions to combat it; taking arrangements, actions and measures necessary for developing the applicable laws and methods; and enhancing international cooperation.

The IMAFT member states will ensure to coordinate their efforts with all competent authorities in this respect, provide all forms of support to such authorities, including by participating in workshops and programs they offer and requesting technical assistance of their experts or that offered by specialized regional and international organizations.

Dear audience,

As you all know, the UN, its concerned bodies and FATF have adopted legislative and regulatory frameworks and operational measures to combat terrorism and its financing, while considering the risks and adverse impacts on the broadest financial and economic sectors and international peace and security. You are also aware that combating terrorism is a collective responsibility entailing greater cooperation and coordination among countries. This requires the members to exchange information and expertise through related bodies in order to implement frameworks and actions at the technical level and measure their effectiveness and outputs. Furthermore, being members of international and regional forums, whether as full members or as observers, the IMAFT member states will be enabled to make the most of the expertise of each other.       

In continuation to our persistent efforts aiming at enhancing international endeavors in this respect, the formation of the Islamic Military Alliance to Fight Terrorism was announced. The alliance focuses on four aspects, including combating terrorist financing. This aspect is a key and major step towards the enhancement of Islamic cooperation in supporting the combat against this financial crime and cutting off its resources in accordance with the current international endeavors, while considering avoiding duplication of efforts, supporting and aligning with international standards and resolutions in a way that serves the interests of the IMAFT member states and the international community at large. This is achieved by reinforcing the implementation of international standards for combating terrorism and its financing, including the implementation of international and regional agreements, FATF recommendations and UNSC resolutions. It is also achieved by offering and supporting initiatives aiming at enhancing legal and operational frameworks among member states, exchanging of expertise and information, and establishing databases, electronic networks and technical assistances.

Dear audience,

We believe that this alliance will have a prominent role in confronting terrorist financing crimes in our countries and around the world. It will be an effective link between member states, and between them on one hand and major international and regional bodies on the other hand. It will also contribute to enhance and support relations, cooperation and direct communication which result in further improvement and strengthening of the combat against terrorist financing and its methods. This first meeting that includes a remarkable group of specialists from all member states is an opportunity for dialogue, sharing experiences and expertise, and preparing for the next phase that involves a number of mounting challenges and responsibilities. Our countries and competent authorities share a heavy burden, especially in the area of risk identification and assessment, which is on the top of the necessary actions to be taken effectively. We also have to implement preventive and supervisory procedures and ensure that we have in place a comprehensive system that includes a framework, polices, rules, procedures and methods for follow-up and monitoring to ensure the fulfillment of objectives stated in the framework and the institutional compliance with them. Risk assessment at national level is significant because it helps in directing available resources, concentrating efforts more effectively, and, therefore, implementing preventive measures appropriate to the nature of risks. It also helps in manage these risks and combat the adverse effects caused by terrorist financing.

Dear audience,

In conclusion, I would like to highlight that cooperation and coordination among the IMAFT member states will contribute to cutting off terrorist financing, and I am confident that our goals will be fulfilled through unifying the efforts of the member states.

 Once again, I would like to welcome and thank you for listening, wishing all success to your meeting.