U.S., Saudi Arabia Enhance Counter-Terrorist Financing Capabilities

As part of President Trump’s overseas trip, the Treasury Department yesterday announced an agreement to establish a Terrorist Financing Targeting Center as a collaborative effort among the United States and several Persian Gulf nations. The U.S. and Saudi Arabia will co-chair the new center; other participating nations will include Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates.

The new center is intended to enhance information-sharing, coordinate action on sanctions and facilitate technical assistance for participating countries that need support developing their CFT programs.