Concerned over terror funding, the World Bank and the IMF have launched an intense programme using a comprehensive methodology involving 75 client countries to identify the means of formal and informal remittances used for money laundering and terrorist funding.

"Combatting money laundering and the financing of terrorism continues to be a matter of grave concern to member countries and an area of enhanced action by the Bank," says a World Bank report, adding that a meeting has been planned in October to discuss the menace.

"Since September, 2001, the Bank and the IMF have undertaken Technical Assistance Programmes involving over 75 client countries, utilising regional and sub-regional workshops and seminars," it said.

The bank said it is working in this regard with the IMF and other partners, including the UN Global Programme on Money Laundering, the UN Security council Counter Terrorism Committee.

"We have focussed on capacity-building for financial supervisors and financial intelligence units as well as training mutual evaluations for the financial action task force on money laundering.

The report said the World Bank has also implemented for each region Anti-Money Laundering measures and steps to combat financing of terrorism and global learning dialogues targetted towards policy makers and institutions responsible for implementation of the international standards.