Expediency Council to give final say on anti-money laundering, CFT bills

TEHRAN, Dec. 31 (MNA) – A senior Parliament Member said Sun. that the Expediency Council will give the final say on the two FATF-related bills on combating money laundering and Iran’s accession to the convention against the funding of terrorism (CFT).

Chairman of National Security and Foreign Policy Commission of Iranian Parliament Heshmatollah Falahatpisheh said returning the amendment bill on combating money laundering to the Parliament for removing the pointed out flaws seems to be off the table, therefore the bill, after taking every factor into consideration, will be referred to the Expediency Council for the final verdict.

Falahatpisheh added that the bill on Iran’s accession to the convention against the funding of terrorism (CFT), which was returned to the Expediency Council upon insistence from the Parliament and objection to the bill from the Guardian council, will be put on the Expediency Council’s agenda after the Council has reviewed the anti-money laundering bill.

On Dec. 5, lawmakers passed the amendment bill on Iran’s accession to the convention against the funding of terrorism (CFT), which was ratified in early October, as part of efforts to oblige the Financial Action Task Force (FATF) to remove the country from its blacklist.

The Guardian Council rejected the bill on November 4, on the basis of having found a series of faults with it, which, according to its spokesman Abbasali Kadkhodaei, were either ambiguous or ran counter to the country’s Shari'ah and the Constitutional law.

7 out of the 22 flaws as pointed out by the Guardian Council were amended by the Parliament’s National Security and Foreign Policy Commission, and the case was referred to the the Expediency Council for the final verdict.

FATF has given Iran a February deadline to complete the necessary reforms regarding its removal from the task force's blacklist. 

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News Code 141055

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