News ID: 216449
Published: 0605 GMT June 10, 2018

Iran's Parliament postpones decision on accession to FATF

Iran's Parliament postpones decision on accession to FATF

Iranian parliamentarians on Sunday voted to postpone decision on Iran’s accession to the Financial Action Task Force (FATF).

In an open session, the Parliament agreed on a request from more than 50 lawmakers that debates on FATF accession to be put on hold for two months, IRNA reported.

The Iranian lawmakers decided that dealing with the FATF issue would be shelved until results of negotiations with Europe on saving the Iran nuclear deal become clear.

Established in 1989, the Financial Action Task Force is an inter-governmental body with the purpose of setting standards and promoting effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.

Deputy Foreign Minister Abbas Araqchi said that the accession to FATF is to the benefit of the country.

Araqchi referred to the bill as an international tool to fight terrorism, saying that Iran is facing threats from two sides: first is international terrorism and second is Western countries' misuse of the terrorism concept.

During the Sunday session, the Parliament passed a law that allows the country to join the United Nations Convention against Transnational Organized Crime (UNTOC).

The bill, however, obligates the Iranian administration to observe a series of conditions before joining the convention, also known as the Palermo Convention.

Despite the Parliament approval, the bill is not still obligatory, because it has to be endorsed by Iran’s Guardian Council.

Adopted by a UN General Assembly resolution in November 2000, UNTOC is the main international instrument in the fight against transnational organized crime.








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