FATF decision, an opportunity for enhancing Iran banking ties

June 26, The Iran Project – The decision by the international anti money-laundering body on continuing suspension of punitive measures against Iran, has provided a proper opportunity for Iran to expand its brokerage relations with International banking system, says an Iranian economist.

Following the decision of the Financial Action Task Force (FATF) to prolonged a freeze of some of its restrictions on Iran after verifying the Islamic Republic’s continued compliance with its directives, Pouya Jebel Ameli, Iranian economist said on Monday that the more Iranian banks develop its brokerage relations with foreign banks, the more it is likely to be withdrawn from the FATF’s blacklist.

Speaking about Iran’s expansion of brokerage ties in post-sanctions era, Jebel Ameli said Iran developed its relations with Europe and most countries around the world, adding but the relationships have not yet reached its full potential.

Elsewhere in his remarks, he referred to the measures Iran has taken to withdraw from FATF’s blacklist as establishing delegations consisting of the Ministry of Economy, the Central Bank and the Ministry of Intelligence and issuing some provisions by the CBI and the Ministry of Economy to the banks.

Meanwhile, Iran’s Ambassador to Britain Hamid Ba’eedinejad on Friday welcomed the renewal of the freeze, saying the European countries and the world’s big economies guaranteed the expansion of banking relations with Iran within the nuclear agreement with their decision to extend the freeze of relations against Iran.

“The decision was taken under circumstances in which some hard-line circles and centers in the United States had asked President Donald Trump to prevent it in whatever way possible,” he said.

“However, under pressure from European countries, the US eventually accepted the [FATF] text supported by all the world’s important countries,” the envoy added.