LONDON, April 7: Twenty-four bank accounts have been frozen in a bid to stop financing of terrorist organizations, State Bank of Pakistan Governor Ishrat Hussein said on Monday.

Speaking at a conference here, Mr Hussein said the central bank had seized some Rs591 million, roughly $10 million.

The SBP governor said the authorities were currently seeking parliamentary approval for a number of measures to make terrorist financing more difficult. These include new licences for Islamic banks and licences for conventional banks to establish Islamic banking units.

He said the government was also looking to introduce legislation to bolster anti-money-laundering laws and to phase out unlicensed money changers and replace them with bona fide companies.

The authorities also plan to establish a financial intelligence bureau to monitor suspicious transactions and collaborate with authorities abroad.—DJ Newswires