Official: Iran moves closer to joining FATF after key approval

According to a member of the Expediency Council on Saturday, joint commissions within the council have approved the necessary measures for Iran’s accession. The final decision now awaits approval by the full council.

The move comes after years of delays and internal disagreements. Iran’s parliament had previously approved FATF-related bills, but disputes between the parliament and the Guardian Council stalled progress and the issue was subsequently referred to the Expediency Council.

Seyed Mohammad Sadr, a member of the council, emphasized the importance of joining FATF, stating that failure to adopt the Palermo and CFT (Combating the Financing of Terrorism) conventions would imply Iran’s economy operates on illicit foundations.

Experts have long stressed the necessity of FATF membership, warning that delays harm Iran’s financial and trade relations.

Hadi Khani, head of Iran’s Financial Intelligence Center, recently highlighted that postponing accession not only complicates banking and trade but also increases the costs and challenges of future membership.

Proponents argue that joining FATF will facilitate international trade and improve Iran’s economic standing, while critics fear it could undermine the country’s resistance economy.