Tehran, Iran, Oct.8
Trend:
Referring to the impact of ratification of the CFT bill (Combating the Financing of Terrorism (CFT) standards set by the FATF (Financial Action Task Force)) in Iran`s parliament and its impact on Iran-South Korea relations, the secretary general of Iran-South Korea Chamber of Commerce, Pouya Firouzi told Trend that the adoption of such transparency laws that eliminates doubts regarding the banking transactions, certainly has a direct impact on the country's financial flows, whether it is S.Korea or other countries.
Iran's parliament on Sunday passed a bill in a bid to avoid an investment blacklist and beat back the impact of renewed US sanctions. The Combating the Financing of Terrorism (CFT) bill passed through parliament 143 votes to 120 despite heated criticism from hardliners who accused the government of treason.
"In today's world, countries can hardly work with the other countries that do not comply with the rules of money laundering and the counter against terrorism, because the most basic principles of business, which is the money transaction, is not possible. Ultimately, membership in such international conventions will increase credit in the world and reduce the risk,” Firouzi said.
He added that South Korea, like China, is member of the Financial Action Task Force (FATF), and that the government has a special sensitivity in international exchanges and money transfers.
“South Korea has special focus on companies that have suspicious transactions and activities," he said.
Speaking about Iran's main trade option with South Korea, which is technology, Firouzi said Iran has always been one of the main markets for S.Korea.
Referring to the US withdrawal from the 2015 nuclear deal, he stated that the Korean companies suffered some restrictions, but the other argument was always that what if these companies were to circumvent those sanctions.
"In such hypothetical situation, international banking problems still persist, so most of these problems will be solved by ratification of this bill in the parliament," he said.