Iran's social class gap may deepen without FATS approval
TEHRAN, Iran, August 9
If the Financial Action Task Force (FATF) related bills are not approved in Iran, the social gap between the rich and the poor in the country would increase, said the Vice Chairman of the Information and Communication Technology Commission of the Iranian Chamber of Commerce Abolreza Nouroozi, Trend reports via ILNA.
"If the situation doesn't move forward, the foreign currency rate would increase and the national currency (rial) will decline further," Nouroozi said.
"The FATF issue affects digital trade, as well as industry, import, export," he said. "This is due to failure to approve the FATF-related bill and Iran is one of those rare countries that haven't joined FATF.
"If we approve the bill, the country's economic situation will improve," said Nouroozi. "It may not happen instantly, but we have hope. Iranian businessmen and producers are hopeful, since the situation in the country indicates we're in recession."