"Both India and US understand the importance of a strong
financial system. But we must also keep in mind the potential
risk from illicit financing. The need to recognise this and
how it is used in financing terrorist activities has become a
critical part of the relationship between the two countries,"
US Treasury's Assistant Secretary for Terrorist Financing
Daniel L Glaser said here.
He was addressing the concluding session of a two-day US
India Private Financial Sector Dialogue organised by the
Confederation of Indian Industry (CII) and the US-India
Business Council (USIBC) here.
The event discussed critical issues, including combating
illicit terrorist financing and new payment technologies for
"India and the US need to share the best practices to
combat terrorist financing. India plays a very important role
in combating global terrorist financing. It is important that
the two countries consult and share crucial financial
intelligence for a safer world," he added.
Glaser said India and the US are "natural allies" who
share their democratic principles and have to rely on each
other to protect and safeguard one another.
Mumbai: India plays a very important role in
combating global terrorist financing and there is need for New
Delhi and the US to share the best practices in this regard to
curb the menace, a top American official said on Wednesday.
First Published: Wednesday, July 27, 2011, 22:20