Iran to decide on CFT, Palermo bills within month: MP

IRNA – A senior Iranian lawmaker said on Sunday that the case of Convention against Financing of Terrorism (CFT) is slated to be closed in the Iranian parliament next week.

Chairman of Iran Majlis (Parliament) National Security and Foreign Policy Commission Heshmatollah Falahat-Pisheh said the CFT bill and the joining of the country to the Palermo Convention would be decided on by the Expediency Council within the next month.

Falahat-Pisheh said the process of ratifying the CFT was slowed down in the Expediency Council due to its relations with 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.
The CFT is one of the four bills put forward by the government to meet standards set by the FATF.

FATF introduces itself as an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions.

Falahat-Pisheh said the bill was ultimately endorsed by the Council after constant follow-ups.

The MP reiterated that the two bills of FATF on amendments on Combating the Financing of Terrorism and the Anti-Money Laundering Law were approved at first and later was passed at the parliament and sent to the Guardian Council for final approval.

He added, however, the Guardian Council returned the bill to the parliament after raising some objections.

The 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.

Falahat-Pisheh added the joining of the country to the Palermo Convention would be put on Expediency Council agenda soon.

On October 7, 2018, the Iranian lawmakers voted 143 in favor of the CFT bill, approved it and then sent it to the Guardian Council.

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.