A two-day conference on combating the funding of terror groups held in Paris issued on Thursday a series of recommendations to cut off funds for extremists.
More than 70 countries committed to bolster efforts in the fight against terrorism financing associated with ISIS and al-Qaeda.
Participants vowed to improve international coordination and enhance transparency of financial flows.
In a final declaration, they agreed to "fully criminalize" terror financing through effective and proportionate sanctions "even in the absence of a link to a specific terrorist act."
French President Emmanuel Macron welcomed the decision of participants at the Organization for Economic Cooperation and Development (OECD), which brought together around 80 ministers and 500 experts, to form a coalition with the aim of choking off financing for ISIS and al-Qaeda.
He called in his closing statement for more cooperation to deny militant movements the financing they need to carry out attacks.
Macron warned that the militants "use all contemporary forms of financing."
"We have to cut off terrorism at its roots: it feeds on human trafficking, drugs and weapons. There's always an underlying economy," said Macron, urging global "transparency and mobilization."
"We have to cross to a new stage in the fight against ISIS and al-Qaeda."
Macron praised the "No money for terror conference" for committing to improving such measures as sharing intelligence, fighting against anonymous financial transactions and identifying sources of funding.
