Panel approves draft bill on prevention of financing proliferation of WMDs

A parliamentary panel has approved a draft law on the prevention of the financing of the proliferation of weapons of mass destruction (WMDs), which regulates the actions to be taken by the government in line with the U.N. Security Council resolutions.

The Turkish Parliament's Justice Commission voted in favor of the draft law on the prevention of financing the proliferation of the WMDs over the weekend.

The draft stipulates coordinated action by the relevant state bodies in a bid to freeze the assets of the persons and the institutions and their associates declared by the U.N. Security Council resolutions.

Turkey will also impose a ban on the export and import of goods listed in the relevant U.N. Security Council resolutions that are used in nuclear activities and on the proliferation of nuclear weapons. It also prohibits those persons and institutions to open a representation or a bank, engage in any kind of activity, including business partnership. According to the law, the existing businesses and engagements of these persons will be ended once the bill takes effect.

The draft law also stipulates the establishment of an Inspection and Cooperation Commission under the leadership of the Financial Crimes Investigation Board and with the participation of representatives from the Justice, Foreign, Energy, Interior, Defense and Trade ministries as well as from relevant institutions including the National Intelligence Organization (MIT).

The commission will be responsible for following all the developments concerning the prevention of the financing of the proliferation of WMDs and for coordinating necessary actions. It will meet at least twice a year.

The draft will be brought to the agenda of the General Assembly in the...