Iran Parliament Approved the CFT Bill by +143/-120 Votes

Iran Parliament Approved the CFT Bill by +143/-120 VotesIran Parliament (Majlis) approved the bill on joining CFT, at a turbulant atmosphere few minutes ago. Iranian lawmakers at a non-public session on Sunday approved the bill on the joining of Iran to the Combating the Financing of Terrorism (CFT) convention.

At the Majlis (Parliament) session, the lawmakers voted 143 in favour of the bill, 120 against and five abstained.

The CFT bill, approved by Iran with preconditions, includes an introduction, 28 articles and an appendix.

Iranian Foreign Minister Mohammad Javad Zarif, on behalf of the government of President Hassan Rouhani, was present at today’s Majlis session to defend the CFT bill.

The CFT bill is one of the four Financial Action Task Force (FATF) bills which include reform in the money-laundering rule, change in the funding terrorism law, the joining of Iran to CFT and the joining of the country to the Palermo Convention.

Financial Action Task Force (FATF) introduces itself as an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

In its recent session, FATF has given a year as another chance to Iran to make changes in its financial activities as the country has already been transparent in its related commitments.

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Iran Parliament Approved the CFT Bill by +143/-120 Votes
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