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THE terror networks that have been considerably subdued by the law enforcement agencies, specially by the Rapid Action Battalion (RAB) through actions against their top leaders and seizing stockpiles of destructive materials, are to be counted as one part of the success in dealing with the terrorist organisations. But another vital part in ensuring that the networks do not revive, remains. This has to do with finding out thoroughly and then uprooting the sources of finance to the terror operators. This is a huge challenge and probably more complex in nature than the man-hunts that the security agencies have been so far engaged in throughout the country. But the agencies lack specialist knowledge in dealing with financial matters. Besides, there are also limitations on their part in delving deep into the affairs of financial organisations as this might have destabilising effects on the financial sector. Thus, more than the security agencies, the government will have to rely on institutional mechanisms available within the financial institutions like banks to unearth these sources of terror finance.
The Bangladesh Bank (BB) has to take a lead, out of necessity, in these matters. But it has to exercise its role with a lot of care and delicacy because the commercial banks for understandable reasons do not wish to be too nosy about the transactions of their clients to keep their vital relations with the customers in good shape. Besides, extensive vigilance on transactions that may take place can be also very annoying and unsettling for businesses and normal banking operations of individuals. For, except some suspicious transactions all others are of an innocent nature and the overwhelming majority of the customers of the financial organisations need not go through undue hassles in the search for terrorist finance.
What would be practical is for the Bangladesh Bank to have a set of guidelines in respect of suspicious transactions and to make the management of the commercial banks familiar with them so that these can be applied in few selective cases by the banks' management at their discretion but more effectively and without disrupting the normal transactions. The BB can also pursue a policy of training the management of financial institutions in this regard. It has been reported that the BB is considering the formation of a financial intelligence unit of its own. The coming into being of such a unit would seem to be a better option that demanding so much out of the commercial banks. The BB's intelligence unit, playing a proactive role and maintaining close liaison with the scheduled banks, can probably achieve a great deal more in detecting the routes of terror finance.
Besides, the financial institutions alone need not to be targeted. For the links of non-governmental organisations (NGOs) have also been established with the terrorist organisations like the Jamaatul Mujaheedin Bangladesh (JMB). The NGOs have been allegedly supplying funds to them. In that case, these NGOs and others will have to be brought under surveillance like the financial institutions. The interrogation of the recently arrested top leaders of the JMB should likely lead to getting of detailed information of their sources of finance. Actions from the government should then follow appropriately in response to such divulged information. According to media reports, the financiers of the JMB include some influential political circles. It needs to be investigated thoroughly whether the allegations are true. If the same are found to be valid, then there must be political resolve to take surgical actions against them, too, without showing any fear or favour.
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