UK hails FATF decision on Iran

IRNA – The UK diplomatic mission in Iran in a message welcomed Financial Action Task Force (FATF) decision to extend deadline on Iran.

‘Welcome @FATFNews decision to give #Iran more time to complete its Action Plan. Strong European support for Iran’s efforts at FATF meeting. Full FATF compliance is essential for banks to do business with Iran,’ UK embassy tweeted on Saturday.

‘The Financial Action Task Force decided at its meeting this week to continue the suspension of counter-measures,’ Reuters on Friday quoted sources as saying.

The FATF based in Paris, France, on Friday gave Iran a four-month deadline until February to complete reforms.

FATF website has reported that as many as 800 officials, representing 204 jurisdictions, the IMF, UN, World Bank and others will come to Paris for FATF Week at the Organization for Economic Cooperation and Development (OECD).

‘During six days of meetings, they discussed 140 papers on a range of important issues to protect the integrity of the financial system and contribute to global safety and security,’ it said.