Economic and Financial Affairs Council
Combating Terror Financing in regards to the Israel-Palestine conflict.
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Letter from the executive board
Dear Delegates,
As the Executive Board for the ECOFIN committee, we extend our warmest greetings to you all! It is with great pleasure we convene to discuss one of the most pressing issues of our time: Combating Terror Financing in regards to the Israel-Palestine conflict.
The Israel-Palestine conflict stands as a stark reminder of the enduring challenges faced by the international community in achieving lasting peace and stability in the Middle East. The proliferation of terrorism and violent extremism in the region continues to undermine efforts towards a peaceful resolution, exacerbating human suffering and hindering socio-economic development.
Terror financing remains a critical enabler of violence and conflict in the Israel-Palestine region, perpetuating cycles of instability and impeding progress towards a just and lasting peace. The illicit flow of money to terrorist groups not only keeps them operational but also allows them to continue harming innocent civilians, undermining government institutions, and impeding efforts at peace negotiations.
In light of these grave challenges, the Economic and Financial Committee must mobilise concerted efforts to address the scourge of terror financing in the Israel-Palestine conflict. To stop the flow of illegal funding to terrorist organisations operating in the area, we must take a multipronged approach that includes strong legislative frameworks, increased international collaboration, and targeted measures. We call upon member states to:
1. Strengthening national legislation and regulatory mechanisms to combat terror financing, adopting comprehensive legal frameworks, enhanced due diligence measures, and rigorous enforcement.
2. Enhancing international cooperation and information sharing among relevant stakeholders to disrupt terrorist financing networks through timely intelligence exchange and coordination.
3. Implementing targeted financial sanctions and asset freeze measures in accordance with relevant Security Council resolutions and international law against those involved in terrorism financing.
4. Promoting financial inclusion and economic development in conflict-affected areas to reduce vulnerability to exploitation by terrorist groups and create opportunities for sustainable peace and prosperity.
As delegates of the ECOFIN committee, you are urged to engage in constructive debate and work towards the adoption of innovative and effective resolutions to combat terror financing in the Israel-Palestine conflict. We look forward to your participation and wish you the best of luck!
Yours sincerely,
The Executive Board of the Economic and Financial Affairs Council (ECOFIN),
Kiara Kotak, Megan Thomas and Aarav Dharamsey.
Exploring the agenda
The Economic and Financial Committee (ECOFIN) addresses pressing global economic issues and is tasked with fostering stability and prosperity. In our agenda focusing on Combating Terror Financing within the Israel-Palestine conflict, we aim to devise strategic measures to disrupt financial channels sustaining extremist activities. By analysing financial networks and enhancing international cooperation, this committee aims to mitigate the flow of funds supporting terrorist organizations in the region. Through a fruitful session in committee, we want to foster a conducive environment for peace and security in the Middle East.
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