Iran's CFT Convention Bill Back in Majlis

EghtesadOnline: The government bill that allows Iran to join the international Convention for the Suppression of the Financing of Terrorism is back on the Majlis floor after the two-month hiatus had stalled the key legislation relating to Iran's Action Plan with the Financial Action Task Force.

News ID: ۷۴۶۰۵۶

29 September 2018

Ali Najafi Khoshroudi, spokesperson for the Majlis National Security and Foreign Policy Commission told the parliamentary news website ICANA that his commission had concluded reviewing the bill on Tuesday after a two-month deadline imposed by lawmakers had lapsed.

However, lawmakers can re-send the bill to the  commission and ask it to give its opinion on the bill.

Lawmakers in June refused to approve Iran's accession to the CFT convention, referring to uncertainties surrounding the Iran nuclear deal in the wake of the US exit. Lawmakers wanted strong assurances from Europeans that Iran will continue to benefit by staying in the nuclear deal, according to Financial Tribune.

"With the presence of representatives of relevant  entities, the latest views were assessed [in the commission] and sent to the Majlis for debate and vote," Khoshroudi said.

The CFT convention bill has become a bone of contention among different political factions, with hardline groups fiercely opposing the measure, which they say would hamper Iran's backing for resistance and revolutionary groups such as the Lebanese Hezbollah and Hamas.

Unanimous View

Heshmatollah Falahat-Pisheh, chairman of the Majlis National Security Commission said on Sunday that the unanimous view of lawmakers about the bill–which remains the only FATF-related bill not approved by the Parliament – continues to be that “we should not provide enemies with pretexts and at the same time not act against national interest."

The lawmaker referred to a recent meeting of his commission with senior bankers accompanied by  officials from the CBI, the Economy Ministry and the Foreign Ministry and said everyone at the meeting believed that Iran should continue its cooperation with FATF.

The CFT bill can be approved if certain exceptional measures are preserved for Iran. He referred to th views of the Leader Ayatollah Seyyed Ali Khamnei  indicating that "both the Majlis and government are mature and wise enough to extricate the country from uncertainty."

The government has sent four pieces of legislation to the Parliament, which includes amending the  AML and CFT laws in accordance with FATF standards and joining the UN Convention Against Transnational Organized Crime (Palermo) and the International Convention for the Suppression of the Financing of Terrorism.

Lawmakers on Tuesday approved two bills related to the Action Plan the Guardian Council had earlier found faults with.

In its latest statement  in June, FATF said Iran had until October to complete reforms that would bring it into line with global norms or face consequences of remaining in non-cooperative jurisdictions.