Following Supreme Leader's approval to review FATF

Iran administration pursuing FATF bills ratification to facilitate access to world markets

Iran’s vice president for executive affairs said the administration is seriously pursuing the ratification of the Financial Action Task Force (FATF) bills as required by the global financial crime watchdog.

News ID: 5802

Date: 18 January 2025 - 14:18

TABNAK, Jan 18: Mohammad-Jafar Ghaempanah has discussed the prospects of the FATF bills, pointing out that the bills cannot be put to vote in the parliament again as Iranian lawmakers have already approved them.

Members of the parliament have the right to object, he said, referring to criticisms leveled by some lawmakers against renewed attempts to ratify the bills.

However, he added, the administration is persistent and the fate of the FATF bills will be decided in the Expediency Council, an advisory board that settles disputes between the parliament and Constitutional Council over legislation.

Asked how hopeful the administration is about the approval of FATF by the Expediency Council, Ghaempanah said, “We do not have a precise assessment of the status of the council’s review.”

He added, however, that the administration believes some of the pressure of sanctions “will definitely be removed after FATF is accepted.”

Late last month, President Masoud Pezeshkian announced that the Expediency Council would re-examine the bills so that the FATF restrictions on Iran’s banking system would be lifted.