Dec 29, 2020, 11:54 AM
Journalist ID: 2379
News Code: 84165698
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Reviewing FATF bills indicates green light for diplomacy

Tehran, Dec 29, IRNA – Iran gave green light for diplomacy by reviewing bills about Financial Action Task Force (FATF), Iranian lawmaker said on Tuesday.

Heshmatollah Falahatpisheh, former chairman of Majlis (Parliament) National Security and Foreign Policy Commission, made the remarks in an interview with IRNA.

If Supreme Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei accepted President Hassan Rouhani's demand for a review of FATF bills at the Expediency Council, it does not mean approval of the bills and the related conventions, the parliamentarian said.  

Falahatpisheh called on the Expediency Council not to delay Iranian accession to the FATF related conventions if there is possibility to join the international financial body.

Despite hesitation already emerged on joining FATF in the past, the current situation warranted Iran to review the bills and conventions which have already deemed controversial, the lawmaker noted.

In January 2019, Falahatpisheh stated that Expediency Council will issue its final decision on country's accession to Combating the Financing of Terrorism (CFT) and Palermo Convention in maximum 30 days.

If revision had continued at that time, FATF would not blacklist Iran now, Falahatpisheh said.

The CFT bill is one of the four Financial Action Task Force (FATF) bills which seek reform in the money-laundering rule, change in the funding terrorism law, Iran's joining the CFT and the Palermo Convention.

The United Nations Convention against Transnational Organized Crime, adopted by General Assembly resolution 55/25 of 15 November 2000, is the main international instrument in the fight against transnational organized crime. It opened for signature by Member States at a High-level Political Conference convened for that purpose in Palermo, Italy, on 12-15 December 2000 and entered into force on 29 September 2003.  

As the lawmaker stressed, FATF and the Joint Comprehensive Plan of Action (JCPOA) are two interrelated issues.

Iran's joining the conventions will not let the opponents and enemies to prevent Iran from making use of the situation after removal of sanctions, Falahatpisheh underlined.

Financial Action Task Force (FATF) introduces itself as an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote 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. The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

The four FATF bills include reform in the money-laundering rule, change in the funding terrorism law, the joining of Iran to Terrorist Financing Convention and the joining of the country to the Palermo Convention.

Majlis approved the first two bills and sent them to the Guardian Council after changes in internal laws of the country, but the two others were shelved for months as of June 10.

All bills related to Financial Action Task Force (FATF) have been referred to the Expediency Council for revision.

Translated by: Marjan Heydari Rad

Edited by: Safar Sarabi


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