0203 GMT November 21, 2018
Iran’s Guardian Council sent back a bill on the country’s accession to Combating the Financing of Terrorism (CFT) treaty to Parliament, saying that it had found flaws in the bill.
The council’s spokesman Abbas-Ali Kadkhodaei said on Sunday the oversight body had found “flaws and ambiguities” in the bill after “multiple sessions.”
Iran’s Parliament adopted the bill last month in order to maintain relations with European allies amid US sanctions.
The council, which vets the Parliament’s bills for compliance with the Constitution, had notified Parliament of the “cases contravening the Sharia and the Constitution” and the bill's ambiguities, Kadkhodaei added.
However, an Iranian lawmaker said on Sunday that Parliament had earlier corrected the flaws in the bill highlighted by the Guardian Council.
Alireza Rahimi, a Member of Parliament’s Presiding Board, tweeted that Iran’s accession to the convention on combating the financing of terrorism is beneficial for Iran’s national security.
The CFT is one of four bills put forward by the government to meet standards set by the Financial Action Task Force (FATF). It was approved in Parliament by 143 votes to 120 on October 7, but had to receive the Guardian Council’s blessings to become law.
Its proponents had said the measure would smooth the way for Iran’s increased financial transactions with the rest of the world and help remove the country from investment blacklists.
Opponents, however, say membership in the FATF will only make the country vulnerable to outside meddling.
The Paris-based FATF had issued an October deadline to implement its standards in order to remove Tehran from investment blacklists.
The global anti-money laundering watchdog had also warned Tehran of “appropriate and necessary actions” if it did not enact amendments in full compliance with its standards.
Following the Iranian Parliament’s approval of the CFT, the FATF said it had decided to continue suspending counter-measures, which can go as far as limiting or even banning transactions with a country.
IRNA and Press TV contributed to this story.