1 Mar 2024
Wednesday 5 December 2018 - 13:37
Story Code : 329435

Iranian MPs approve amendment to bill on Iranís accession to CFT

Tasnim Ė Iranian lawmakers on Wednesday approved an amendment to the first article of a bill on the countryís accession to Combating the Financing of Terrorism (CFT) treaty - a series of standards set by the FATF (Financial Action Task Force).

During an open session of the parliament on Wednesday morning, the MPs discussed problems for which the Guardian Council had sent the CFT bill back to the parliament.

In the meeting, chaired by Parliament Speaker Ali Larijani and attended by 207 lawmakers, an amendment to Article 1 of the bill was approved with seven stipulations, including one stating that none of treatyís articles that run counter to the Islamic Republic of Iranís Constitution would be binding for the country.

The mentioned article is planned to be sent to the Guardian Council for approval.

In another decision on Wednesday, the parliamentarians insisted on their legislation on Article 2 of the bill and did not approve objections raised by the Guardian Council.

Therefore, the Article 2 of the bill on Iranís accession to CFT treaty will be sent to the Expediency Council for more examination.

Back on October 7, the Iranian Parliament had approved the bill on the countryís accession to the CFT treaty.

Later, the Guardian Councilís spokesman, Abbasali Kadkhodaei, said that the council had examined the bill and decided it has some problems and ambiguities, sending the bill back to the parliament.

According to the Financial Action Task Force, Iran had until October to complete reforms that would ďbring it into line with global norms or face consequencesĒ that could further deter investors from the country.

To fulfill FATF requirements, President Hassan Rouhaniís administration has proposed four bills to the parliament for approval, two of which are still undecided, including the Palermo Convention.

On June 10, the Iranian parliament passed a law allowing the country to join the United Nations Convention against Transnational Organized Crime (UNTOC), but has decided to put on hold debates on accession to the Financial Action Task Force (FATF) for two months.

Iranís parliament had in May adopted new amendments proposed by the government to the countryís Anti-Money Laundering (AML) law as part of efforts to improve connections to the international banking and trade system.

Combating the Financing of Terrorism (CFT) involves investigating, analyzing, deterring and preventing sources of funding for activities intended to achieve political, religious or ideological goals through violence and the threat of violence against civilians.
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