Rashid, who represents the Langate assembly seat from north Kashmir, was questioned for nearly six hours and has been asked to appear again tomorrow, the officials said.
Coming out of the NIA headquarters, Rashid did not take any questions from the waiting media persons saying, "I do not wish to comment on an ongoing investigation.
"Thank you for waiting but it will be inappropriate on my part to talk about the probe," Rashid, who is the first mainstream politician to have been summoned by the NIA in the case, said.
"After trial in the media started about my name, I had approached the speaker of the Jammu and Kashmir Assembly to initiate a probe and find out the truth," he had said earlier in the day.
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The MLA said he had full faith in the justice system.
Rashid's name had cropped up during the interrogation of businessman Zahoor Watali, who was arrested by the NIA for allegedly supplying money to terror groups and separatists in the Valley.
The NIA had registered a case on May 30 against separatist and secessionist leaders, including unknown members of the Hurriyat Conference, who have been acting in connivance with active militants of proscribed terrorist organisations Hizbul Mujahideen, Dukhtaran-e-Millat, Lashkar-e-Taiba (LeT) and other outfits and gangs, officials said.
Hafiz Saeed, the Pakistan-based chief of the Jamaat-ud- Dawa, the front of the Lashker-e-Taiba, has been named in the FIR as an accused.
The NIA has arrested 10 people so far in connection with alleged funding of terror activities case which includes pro-Pakistan separatist Syed Ali Shah Geelani's son-in-law Altaf Ahmed Shah and Watali.
Others in the list are Shahid-ul-Islam, spokesperson of the moderate Hurriyat Conference, Mehrajuddin Kalwal, Nayeem Khan, Farooq Ahmed Dar alias 'Bitta Karate', photo-journalist Kamran Yusuf and Javed Ahmed Bhat.