Extension of FATF deadline to boost Iran banking ties: VP

IRNA – Extending the Financial Action Task Force (FATF) deadline is another victory for the Iranian people and government in their intelligent legal fight against the US government, ensued based on international legitimate and civil rights, Iran’s vice-president for legal affairs said.

Ratification of the four bills pertaining to the FATF, more than everything, is going to help Iran improve its banking system and reduce illicit financial transactions and financial crimes,’ Laiya Joneidi said on Friday, hailing the decision by the Paris-based intergovernmental organization to give Iran another four months to do reforms.

‘These are steps that we should take, at first place, to improve the country’s banking and financial system and guarantee its security,’ Joneidi said.

She said that the government efforts are not solely aimed at satisfying FATF but to maintain a more healthy banking system, she added.

It is obvious that extension of the FATF deadline will be an effective stride in preserving international banking and also paving the way for establishing new financial modifications with other countries like China, Russia, neighbors and Europe, she said.

Extension of the FATF deadline is a great contribution to the preparation of the necessary grounds for the setting up a special financial and banking tool for the European Union, which is an important part of the EU proposed package, the Iranian vice president said.

‘Since the US withdrawal from Iran deal, which was an illegitimate act and violation of the nuclear agreement with Iran and 2231 resolution, we have taken some measures based on the principles of international regulations,’ Joneidi said.

Upholding the Iran Deal, formally known as the Joint Comprehensive Plan of Action (JCPOA) by Iran, China, Russia and Europe and adopting executive methods for keeping the nuclear agreement was among the mentioned measures, she reiterated.

She also referred to Iran’s complaint against the United States in the International Court of Justice (ICJ) regarding the US secondary sanctions against Iran as another measure taken by the country.

Holding intensive talks with FATF to suspend blacklisting Iran was also part of this fight based on international regulations, she said.

Undoubtedly, these victories will convey a good message to the Iranian people, international relations, the domestic market and our business people, Joneidi said.