O'Neill thanks Kuwaitis for efforts against terrorist assets

U.S Treasury Secretary Paul O'Neill thanked the government of Kuwait and representatives of Kuwaiti commercial and national banks for their participation in the effort to freeze and disrupt assets used to finance terrorism, an official statement said yesterday.

Speaking in Kuwait City March 5, O'Neill said that freezing the assets of terrorists is "an issue of paramount importance to the United States."

O'Neill also announced U.S. support for the rapid and effective enforcement of Kuwait's new anti-money laundering law by offering American training and technical assistance.

O'Neill, Kuwaiti banking representatives and officials from Sheikh Sabah's government also discussed Kuwait's efforts to better regulate the operations of charitable organizations, which "perform a vital and valued role in society," said O'Neill.

"Introducing greater transparency and accountability into the process of charitable financing will increase donor confidence, improve the delivery of assistance to the needy, and deny terrorists the opportunity to steal from widows and orphans," said O'Neill.