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How to transfer money without financing terror

During the Union of Arab Banks conference, officials discussed ways to monitor money transfers, to limit money laundering operations and the financing of terrorism.

Staunching the flow of money to terrorist groups is a global concern, and a group of banking officials tackled the topic at a conference organized by the Union of Arab Banks in collaboration with the Central Bank of Egypt. The conference, which Al-Monitor attended, was held Sept. 17-19 in Sharm el-Sheikh, Egypt.

An Egyptian banking official explained to Al-Monitor at the conference that well-financed terrorist attacks make it clear that current laws are not enough to win the fight.

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