The Iran Project

Iran Majlis discusses CFT in closed session

IRNA – Members of Iran’s Majlis (Parliament) are holding a closed session in the presence of two top diplomats on Tuesday to review bill on the joining of Iran to the Combating the Financing of Terrorism (CFT) convention.

Foreign Minister Mohammad Javad Zarif and his deputy for political affairs Abbas Araqchi are present in Majlis to give a report to the lawmakers on Iran’s situation in the Financial Action Task Force (FATF).

The CFT bill is one of the four FATF bills which include reforms in the money-laundering rules, change in the funding terrorism law and the joining of the country to the Palermo Convention.

On October 7, the Iranian lawmakers voted 143 in favor of the CFT bill, approved it and then sent it to the Guardian Council.

Guardian Council is an important body in Iran and one of its key duties is to ensure the compatibility of the legislation passed by the Iranian parliament with the criteria of Islam and the Constitution

About the today session, a parliamentarian told the Islamic Republic News Agency (IRNA) that Zarif and Araqchi are to brief Majlis on the talks with the Europeans on the Joint Comprehensive Plan of Action (JCPOA) and Iran’s situation in FATF.

They will also explain their negotiations with the CFT European group to the lawmakers, Akbar Torki said.

He added that the two top diplomats will then answer the parliamentarians’ questions.

Financial Action Task Force (FATF) introduces itself as an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

In its recent session, FATF gave four months as another chance to Iran to make changes in its financial activities as the country has already been transparent in its related commitments.

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