BAKU, Azerbaijan, March. 3
Trend:
Iran's Secretary of Expediency Council Mohsen Rezaei announced the existence of 3 different approaches towards joining the Palermo Convention and CFT (the convention combatting the financing of terrorism) in the council which will be decided soon.
Regarding the latest status of the FATF-related bills in the Expediency Council, Mohsen Rezaie told Trend that the review of the two FATF-related bills of CFT and Palermo has been entrusted to the Council.
"All the discussions in the expert commissions of the council are over now,” he said. There are currently three proposals that have been sat in the Joint Commission of Council and should be discussed and voted on in the General Session of the Expediency Council.
Regarding the details of the proposals, Rezaei told Trend that the assembly has not yet reached a unified conclusion, so details cannot be revealed.
The FATF (Financial Action Task Force) is an intergovernmental organization that enforces international standards for combating money and property laundering, financing terrorism, and the proliferation of weapons of mass destruction. The FATF has given Iran time for reforming its financial legislation.
Two of the four FATF projects have been approved in Iran. Two other projects – namely, Palermo and CFT – are awaiting approval.