Abbas Kadkhodaei, the council's spokesman, made the announcement at a press conference on Saturday, Fars News Agency reported.
Iran's original CFT law had been approved by parliamentarians in 2011 but had to be updated, as Iran seeks to exit the FATF's list of high-risk and non-cooperative countries.
The council, made up of six Muslim clerics appointed by the Leader Ayatollah Seyyed Ali Khamenei and six jurists elected by the parliament, is charged with ensuring draft laws do not contradict religious laws or Iran’s Constitution, according to Financial Tribune.
President Hassan Rouhani on the same day notified the law to the ministries of economy and justice for immediate implementation.
The main objectives of CFT Law revisions pertained to terrorism-related crimes and the designation of national and international terrorist persons, groups and organizations by the Supreme National Security Council and more efficient regulations to confiscate assets and instruments of terrorism financing.
FATF decided to again suspend its countermeasures against Iran in late June and provide relief to the administration of President Rouhani, which has been strenuously working to enhance AML/CFT measures.
The Iranian government has sent a fourth-level legislation to the parliament, which includes amending the country's AML/CFT law in accordance with FATF standards and joining the United Nations Convention Against Transnational Organized Crime (Palermo) and the International Convention for the Suppression of the Financing of Terrorism.
In June, lawmakers refrained from approving Iran's accession to the latter convention, referring to uncertainties surrounding the nuclear deal in the wake of the US exit.