"The recommendations pointed out that when there was freezing of money, we have to have the opportunity to help the victims of terrorist activities," Belgian delegate Koenraad Dassen told a news conference.
"It's one of the recommendations of our group and it was approved by the assembly" of the 50-nation conference, he said.
A US Treasury official said last month that $147 million in assets linked to al Qaeda and the Afghan Taleban militia had been frozen around the world by United Nations members since the September 11, 2001, attacks on US cities.
The UN, the United States and the European Union all maintain blacklists of individuals and groups whose funds are subject to seizure.
Dassen said it was too early to say how a compensation scheme would operate or who would administer it.
Specialists on terror finance, one of four main themes at the event, urged tighter implementation of existing sanctions against blacklisted individuals and encouraged more countries to put forward names.
"Most people would say the asset freeze on people has had an effect because otherwise that money might have been used for terrorist acts, and they would have been bigger and nastier," said Richard Barrett, co-ordinator of the UN's al Qaeda and Taleban monitoring team.
"But still a relatively limited amount of money has been frozen," he told Reuters. "We all understand it doesn't cost very much to mount an attack, so you've got to be realistic."
Barrett acknowledged it was still possible for terrorists to circumvent sanctions, for example by smuggling physical cash across borders.
"It's relatively easy to move money by abusing charities and non-profit organisations. You can move money in precious commodities, for example. You have a legitimate business, or take over a legitimate business and siphon off funds."
But he added: "The way the 9/11 hijackers transferred their money could not be used today because banking systems are much more alert and you've got much better systems of reporting suspicious transactions."
US Treasury official Danny Glaser told delegates on the conference's opening day that even a single corrupt financial institution could provide a point of entry for terrorist financiers to the global financial system.
"The international financial system is only as strong as its weakest link," he said.
"If there is a country out there that is not implementing (anti-money-laundering) recommendations, that country is going to be providing terrorists and criminals with access to all of our financial systems."