Iran’s Parliament passes bill against terror financing

Iran’s Parliament passes bill against terror financing

Agency News

Tehran,Oct 7: The Iranian parliament has approved a bill on combating the financing of terrorism aimed at bringing Iran's laws in line with international standards set by the Financial Action Task Force (FATF).

A total of 143 lawmakers on October 7 voted in favor of the bill, 120 voted against, and five abstained, reports ISNA news agency.

The legislation still needs approval of top clerical body, the Guardians Council, before it becomes law.

In June, the Paris-based FATF gave Iran until October to implement its standards in order to remove Tehran from investment blacklists. The group also warned Tehran of "appropriate and necessary actions" if it does not enact amendments in full compliance with its standards.

However, Iran's Foreign Minister Mohammad Javad Zarif on Sunday dismissed demands by opposing lawmakers that he guarantee the CFT approval would resolve problems.

Zarif said by not approving the bill, however, Iran could give a pretext to the US to pile up on pressure on the Islamic Republic.

"Today, Majlis is facing a historic decision and will need to make a decision in line with the interests of the nation and take away any future excuses from the US," he said ahead of the vote.

Zarif also defended the 2015 nuclear deal, called the Joint Comprehensive Plan of Action (JCPOA), saying the accord isolated the US in the world and demonstrated Iran's righteous position.

The FATF cannot impose sanctions, but individual states that are its members have used the group's reports to take punitive measures against their adversaries. As a result, Iran has been targeted by US and European sanctions.

For years, Tehran has been implementing anti-money laundering (AML) and combating the financing of terrorism (CFT) standards set by the FATF, but the group says it is not satisfied with the measures. (UNI)