Disputes over FATF rules escalate among Iranian officials
Iran, December 27, 2019—While the Iranian regime is still reeling in the aftermath of November’s nationwide protests, the looming deadline set by the Financial Action Task Force (FATF) for Tehran to become compliant with international financial norms has further exacerbated the regime’s inner crises.
The FATF, which oversees the security of the global financial system and sets banking transaction standards, has given the Iranian regime until February to finalize the laws that will allow the country to join the Palermo and Counter Financing Terrorism (CFT) conventions against funding terrorism and money laundering.
“In my opinion, the issue of FATF and its laws have been politicized,” said Mahmoud Vaezi, chief of staff of regime president Hassan Rouhani, who was speaking at an official meeting in Ardebil on Tuesday. “What is happening regarding the FATF is setting limitations and more sanctions against the economy and banking relations of the country. The bodies that are opposing the FATF must assume responsibility for the blow dealt to the economy.”
If Tehran fails to pass the laws and make its financial system transparent, it will put on the FATF's list of "Non-Cooperative Countries or Territories," which will deal a heavy blow to its international banking as well as foreign investments in Iran, both of which require full compliance with FATF rules.
Despite having extended the deadline several times, the Iranian regime is still dithering on passing the necessary legislation to become conformant to FATF rules. The issue of passing the laws has become a source of constant tension between the Majlis (parliament), the Guardian Council, and the Expediency Council.
https://english.mojahedin.org/i/iran-fatf-rules-20191227