Munich, February 13 (QNA) - The State of Qatar participated Thursday in the opening session of the "No Money for Terror" conference held in Munich, Germany.

Qatar delegation at the conference was led by HE Minister of Finance, Ali bin Ahmed Al Kuwari.

During his participation in the conference, HE the Minister attended the first session focused on "Multilateral Cooperation," which aimed to enhance coordination between countries and international organizations in combating terrorism financing more effectively.

His Excellency also participated in the second session, which discussed "Methods of Terrorism Financing." This session covered various ways in which terrorist activities are funded and how to combat them using modern legal and technological tools.

HE the Minister reaffirmed Qatar's firm commitment to continuous cooperation with other countries in developing legal and technological frameworks to combat terrorism financing.

Additionally, His excellency participated in a session about "Financial Inclusion and the Risk-Based Approach." The session emphasized the importance of promoting financial inclusion as a critical tool for fostering economic growth and sustainable development, while also focusing on adopting a risk-based approach to combat terrorism financing.

The session discussed the need for inclusive and secure financial services, ensuring that marginalized communities have access to these services without compromising global financial security.

It also highlighted the importance of implementing flexible measures that balance the expansion of financial inclusion while protecting financial systems from risks related to terrorism. The effective use of technology and data in combating illicit financial activities was also discussed.

During his participation in the session, HE the Minister emphasized Qatar's ongoing commitment to international collaboration to strengthen legal and technological frameworks in tackling terrorism financing.

"We are constantly working with our international partners to ensure that financial networks supporting terrorism remain out of reach, which contributes to strengthening security and stability at both the regional and international levels," he added. (QNA)