Parliament Approves Iran’s CFT Accession

The legislation authorizing Iran to join the convention on Combating the Financing of Terrorism (CFT) was passed with 143 votes in favour, 120 against and 5 abstentions.

The MPs authorized the government of President Hassan Rouhani to join the CFT under certain conditions.

Before the bill was put to the vote, Iranian Foreign Minister Mohammad Javad Zarif spoke in support of it.

“I guarantee that if this bill is not ratified, the US will find an important pretext to increase our problems,” said Zarif.

He said lawmakers are to make a “historic decision,” adding, “Today, Parliament will decide based on national interests.”

Back in June, 2018, members of the Iranian parliament discussed the CFT accession bill, which is one of the four bills proposed by the government on Iran’s adopting the standards of the Financial Action Task Force (FTAF), but shelved it for two months.

The Parliament earlier approved a bill on the country’s accession to the United Nations Convention against Transnational Organized Crime, also known as Palermo Convention, but the bill was rejected by the Guardian Council. Then the Parliament insisted on its decision, and the case was referred to the Expediency Council to make the final decision.

The same thing happened to an amendment to the anti-money laundering law of the Islamic Republic, which was proposed by the government, approved by the Parliament, but rejected by the Guardian Council. This one also needs the Expediency Council’s approval.

Meanwhile, the fourth bill, which was an amendment to the country’s law against financing terrorism, was approved by the Parliament and the Guardian Council, and signed into law by President Rouhani.