By Rehan Khan
RIYADH, Apr 28 (APP): Riyadh is set to host the second international meeting of Counter-terrorism Centers of Excellence on April 29–30, bringing together representatives from the United Nations, international and regional centers, and the Terrorist Financing Targeting Center (TFTC) to discuss the impact of emerging technologies on terrorist financing.
Established in Riyadh on May 21, 2017, the TFTC is a multilateral platform for strengthening cooperation among Saudi Arabia, the United Arab Emirates, Bahrain, Oman, Qatar, Kuwait, and the United States. The Center focuses on disrupting terrorist financing networks and enhancing national security through joint efforts, according to the SPA on Monday.
The TFTC facilitates coordination, information sharing, and capacity building among its member states, leveraging their collective expertise to dismantle terrorist financial networks. It also empowers regional partners to combat terrorism financing within their borders.
Born out of a memorandum of understanding signed between Gulf Cooperation Council (GCC) states and the US, the TFTC reflects a deepening commitment to mutual cooperation against terrorism financing, guided by principles of shared benefit and regional security.
Since its headquarters inauguration on October 25, 2017, the TFTC has complemented bilateral information-sharing efforts among member states, identifying, tracking, and acting against terrorist funding streams. Actions coordinated by the TFTC include joint sanctions and expert support for building national capacities to counter terrorist financing, in line with Financial Action Task Force (FATF) standards.
The TFTC is co-chaired by Saudi Arabia’s Presidency of State Security and the US Department of the Treasury. It operates under the strategic guidance of an Executive Committee, which meets quarterly to oversee activities across three pillars: designations, information sharing, and capacity building.
To date, Saudi Arabia and its partners have coordinated seven rounds of joint sanctions, targeting 97 individuals and entities linked to terrorist organizations. Additionally, 23 workshops aligned with UN Security Council Resolutions and FATF standards have been conducted to strengthen counter-financing measures across the region. Six brainstorming sessions have tackled emerging threats, while the TFTC fellowship program has enhanced expertise among mid-level practitioners.
Efforts to expand capacity-building have seen participation from law enforcement agencies, financial supervisory bodies, judicial authorities, non-profit organizations, and international institutions, including the UN Analytical Support and Sanctions Monitoring Team on ISIL (Daesh) and Al-Qaida.
Saudi Arabia’s leadership in combating terrorism financing is reflected in its active compliance with UN Security Council resolutions, its commitment to FATF standards, and its contributions to regional and international initiatives. The Kingdom continues to provide technical assistance, support counter-terrorism programs, and foster global partnerships to confront the evolving threat of terrorism financing.