A member of the Iranian Parliament’s Economy Commission said details of an agreement between the Islamic Republic and the Financial Action Task Force (FATF), the policy-making body of the international financial system, needs to be reviewed and approved by the legislature.
Speaking to the Tasnim on Saturday, Amer Ka’bi, the representative of the city of Abadan, southwestern Khuzestan province, said articles of the agreement between Iran and FATF should be ratified one by one during a session in the Majlis (parliament).
Referring to a recent meeting between Iran’s Minister of Finance and Economic Affairs Ali Tayyebnia and representatives of FATF, he said the economy minister has made no pledges to the world’s anti-money laundering body about steps to combat financing of terrorism.
“The fight against terrorism will be done within the framework of the Iranian law,” the lawmaker underlined.
The parliament will develop a mechanism to study the details of the deal as soon as the government provides the legislative body with a written draft of it, Ka’bi went on to say.
In late June, FATF hailed Iran’s adoption of an action plan to address shortcomings in its anti-money laundering policies and its decision to seek assistance with implementation.
In its plenary meeting in South Korea, the body took into account Iran’s implementation of an anti-money laundering law and its membership at the Eurasian Group, a FATF-style regional body.
Iran, however, will remain on the FATF blacklist until the full implementation is complete, the body said. Moreover, if it fails to demonstrate “sufficient progress” at the end of the yearlong suspension, the restrictions will be re-imposed.