Seif vows more efforts to improve Iran’s status in FATF

TEHRAN, Feb. 10 (MNA) – Central Bank of Iran (CBI) governor noted Iran’s major steps to improve its status in the Financial Action Task Force, hoping that the country would soon exit the FATF public statement and have its banking ties further developed.

Valiollah Seif made the remarks at the second round of Euromoney Iran Conference in Paris, co-hosted by Central Bank of Iran (CBI).

Seif noted Iran’s major steps for fulfilling its commitments, including the country’s signing up to the International Convention for Combating the Financing of Terrorism – the UN treaty on criminalization of financing of terrorism, in addition to promoting cooperation to prevent and investigate the financing of such acts; as well as making amendments to the country’s current Law of Combating the Financing of Terrorism and the Law of Anti-Money Laundering.

He also pointed to Iran’s compliance with its nuclear-related commitments under the JCPOA, stressing that the European Union could find the best way to protect its position on the nuclear deal. He added that Iran has not fully achieved the benefits promised in the JCPOA.

“According to our predictions which are in accordance with the latest reports by the International Money Fund (IMF), Iran’s economic growth in 2018 will stand at 4.2 per cent,” he said, adding that Iran’s foreign debt is very insignificant compared to the country’s GDP.

He went on to add, “Iran’s economy still faces a high rate of unemployment, standing at 12%. Therefore, absorbing foreign investment and creating job opportunities are high on the government’s agenda.”

Seif noted the finalization of several finance agreements worth around 40 billion euros in the past year, adding “these finances will be allocated to Iranian projects via several banks in South Korea, China, Denmark, Austria, Russia and Italy.”

The CBI governor further expressed hope that more countries would join the list of foreign financers in the near future.

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News Code 132050

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