Financial Tribune - Addressing a weekly Cabinet meeting in Tehran on Wednesday, the government spokesman, Ali Rabiei, said complying with FATF rules is in the interest of the nation

Senior officials on Wednesday called on top legislative authorities to ratify remaining anti-money laundering bills demanded by the Financial Action Task Force, after the global watchdog issued a four-month deadline for Tehran on Friday.

Addressing a weekly Cabinet meeting in Tehran on Wednesday, the government spokesman Ali Rabiei said complying with FATF rules is in the interest of the nation.

“Our national interest demands that FATF-related bills not be rejected,” IRNA quoted him as saying.

The Paris-based FATF said in a statement Friday that it had given Iran a final deadline to comply with international anti-money laundering rules by February 2020. It said should Tehran not comply before the deadline expires, it would call on all its members to apply counter-measures against the country.

"If before February 2020, Iran does not enact the Palermo and Terrorist Financing Conventions in line with the FATF standards, then FATF will fully lift the suspension of countermeasures and call on its members and urge all jurisdictions to apply effective countermeasures," the statement read.

Amendments to the counter-terrorist financing and anti-money laundering acts have already been enacted by Iran. However, bills to ratify the Palermo (convention against transnational organized crime) and terrorist financing conventions have been passed by the parliament but not yet endorsed by higher legislative authorities.