Expediency Council to decide about Palermo, CFT by late Mar.

TEHRAN, Feb. 24 (MNA) – Secretary of Expediency Council said the body will announce its vote on Palermo and CFT by March 20.

According to Mohsen Rezaei, the body is studying the case due to the request of the Iranian President Hassan Rouhani and the direct order of the Leader of the Islamic Revolution Ayatollah Khamenei.

One of the actions Iran is required to take to appease the FATF is joining the United Nations Convention against Transnational Organized Crime (UNTOC), which is also called the Palermo Convention, a 2000 United Nations-sponsored multilateral treaty against transnational organized crime.

The other action is to ratify the CFT, the convention combatting the financing of terrorism.

On October 7, 2018, the Majlis (parliament) voted in favor of the CFT. However, the oversight Guardian Council rejected the bill by finding 22 faults with it.

However, the Expediency Council set aside studies to approve the Palermo bill back in October 2019 for it believed Palermo and CFT would help the United States to identify the ways Iran circumvents the sanctions.

The Financial Action Task Force announced in June 2019 that Iran had until October to complete reforms that would bring it into line with global norms or face consequences.

In December 2020, in a response to the President's request, the Leader of the Revolution agreed with an extension of the time for reviewing the FATF bills.

HJ/5155225

News Code 170337

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