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CBI governor expects Expediency Council to approve Palermo bill

Business Materials 26 February 2021 13:19 (UTC +04:00)
CBI governor expects Expediency Council to approve Palermo bill

BAKU, Azerbaijan, Feb. 26

Trend:

Governor of the Central Bank of Iran Abdolnasser Hemmati expressed hope that the Expediency Council will make a good decision on the Palermo and CFT bills, Trend reports via IRNA.

"The approval of the FATF-related bills is in the interest of the country and we are waiting for the decision of the Expediency Council,” Hemmati said.

Expressing hope that the Expediency Council will make the right decision on the issue, Hemmati added that the representatives of the Government answered all the questions of the Expediency Council during the last meeting.

Referring to the joining FATF`s related conventions he said that “passing the bills is crucial for banking ties, and it is too late to make a decision for it.”

The FATF is a Paris-based global watchdog on anti-money laundering and combatting “terrorism” financing. Iran and North Korea are the only two countries on the FATF blacklist.

Iran's Parliament approved the bills at the end of 2018, but the Guardian Council, the powerful 12-member oversight body that vets legislation, found issues with them.

After a prolonged process, two drafts received Guardian Council's approval and passed into law last year, but two remained stuck as the Council refused to approve them.

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