by admin | May 25, 2021 | Business Summit, Economy, Events, News, Politics
Buenos Aires : India has called for a strong and active cooperation across G-20 countries — including in legal processes for effective freezing of proceeds of crime and early return of offenders — to deal with fugitive economic offenders and facilitate asset recovery.
Presenting a nine-point action programme against fugitive economic offenders at the second session of the G-20 Summit on Friday, Prime Minister Narendra Modi said there was a need for a joint effort by member countries to form a mechanism that denies entry and safe havens to all fugitive economic offenders.
He also suggested that the G-20 forum should consider initiating work on locating properties of economic offenders who have tax debt in the country of their residence for its recovery.
“Cooperation in the legal processes such as effective freezing of the proceeds of crime, early return of the offenders and efficient repatriation of the proceeds of crime should be enhanced and streamlined,” he said.
He added that the principles of UN Convention Against Corruption (UNCAC) and UN Convention Against Transnational Organized Crime (UNOTC), especially related to international cooperation, should be fully and effectively implemented.
“The Financial Action Task Force (FATF) should be called upon to assign priority and focus to establishing international cooperation that leads to timely and comprehensive exchange of information between competent authorities and Financial Intelligence Units (FIUs)
“FATF should be tasked to formulate a standard definition of fugitive economic offenders,” Modi said in his nine-point agenda.
He added that the FATF should also develop a set of commonly agreed and standardised procedures related to identification, extradition and judicial proceedings for dealing with such offenders to guide and assist G-20 countries, subject to their domestic law.
“Common platform should be set up for sharing experiences and best practices including successful cases of extradition, gaps in existing systems of extradition and legal assistance,” the Prime Minister said.
—IANS
by admin | May 25, 2021 | Muslim World
Antalya (IINA) – Turkish President Recep Tayyip Erdogan has launched the G20 Summit in Turkey’s southern Antalya city.
In his opening remarks at the summit Sunday, Erdogan urged countries to investigate whether unemployment, poverty and inequality were causes of latest terrorist attacks. Addressing a joint meeting of the Business 20 and Labor 20 groups under the G20 ahead of his meeting with U.S. President Barack Obama, the Turkish president said that the causes of terrorism need to be debated in order to defeat it, the World Bulletin reported. “I am wondering whether world capital and financial sectors are a little bit jealous. I think we have to think about that. When we look at the latest terrorist attacks, we have to wonder whether one of the causes of this terrorist attack is the jealousy. We have to investigate whether unemployment, poverty and inequality caused these terrorist attacks,” he said.
Erdogan said that the business community must act generously to eliminate this jealousy in the world. “This generosity will also lead to resolution of terrorism and poverty problem in the world. It will also eliminate this jealousy and envy. We have to solve this problem together,” he said.”Unemployed young people in the world, if they want to become entrepreneurs, I wonder whether the financial world is supporting them or whether the financial world is supporting unemployed women. In Turkey, we are taking new steps for young people and women who want to make investments, who will be supported by the government. This initiative is very important,” he added.
Erdogan also said that sustainable growth and implementation in the world are important as well as inclusiveness.”Inclusive growth is going to be permanent element of G20 thanks to contributions from B20 and L20,” he said.Erdogan also praised Turkey’s achievement about inequality. “The inequality rate is going down as growth increases. We actually achieved that. Minimum and average wages have increased in Turkey. We also took some important steps for the youth and women employment as well as in e-governance, SMEs, investment, in all of this, we have made significant progress. We believe that these are important elements of social policies,” he said.After his speech, the president also heard recommendations to G20 leaders from business and labor groups.
