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Algerian parliament approves anti-terrorism funding bill

Xinhua, January 30, 2015 Adjust font size:

Algerian parliament on Thursday approved a bill regarding anti-money laundering and counter measures against funding for terrorism.

The approved bill "reinforces the position of Algeria and reaffirms its commitment concerning the fight against terrorism and choking off terror-funding," Minister of Justice Tayeb Louh told reporters after the bill was approved by the lower house of parliament.

It also "provides accurate and exhaustive definition to terrorist financing crime, and comes to make local anti-terrorism laws in line with international standards," he added.

According to the new bill, "terrorist funding is considered as a crime, even if the funding operation is not related to a terrorist act," the minister specified.

The bill, also, proposes expanding the competence of courts in terms of offenses relating to the financing of terrorism and money laundering, including when it comes to acts committed abroad against the interests of Algerians.

Meanwhile, the document consolidates the judge's power to freeze funds intended to finance terrorism.

The bill should be examined and then approved by the upper house of parliament, before returning to the council of ministers to be adopted, and finally comes into force.

This bill was proposed in a council of ministers chaired by President Abdelaziz Bouteflika later last year, to reinforce the legal basis of the decisions taken by the central bank of Algeria and the National Financial Intelligence Processing Unit meant to fight money laundering and terrorism funding. Endit