Iran’s Expediency Council considers conditional approval of CFT, Palermo conventions

During a meeting with media representatives on Sunday, Sadeq Amoli Larijani, however, emphasized that the FATF is not under discussion in the council, as the parliament has not referred any FATF-related legislation to the body.

Larijani clarified that the council is only reviewing the two conventions, which were previously approved by the parliament but faced objections from the Guardian Council, that ensures the compatibility of parliamentary legislation with Islamic law and the Iranian Constitution.

The chairman of the Expediency Council, tasked with resolving disputes between the parliament and the Guardian Council, emphasized that the CFT and Palermo conventions, distinct from FATF, involve significant legal and military considerations.

He noted that while some members of the council have reservations about the conventions, they could be accepted conditionally, as over 50 countries have ratified them with similar reservations.

Approving the CFT and Palermo Conventions is part of Iran’s efforts to join the international anti-money laundering and counter-terrorism financing standards, which many in the country argue could open a new window of economic opportunities despite hurdles.

Many also believe that Iran’s accession to these conventions could pave the way for information leaks against the country.