Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
FATF Extends Iran’s Deadline 4 More Months
The Financial Action Task Force has given Iran four more months to implement the necessary reforms for fighting money laundering and financial support of terrorism. That means Iran will not be on the FATF blacklist until June.
On Friday, February 22, the FATF stressed that if Iran does not pass the remaining regulation bills required by the group, the FATF will intensify its oversight on financial institutions and their branches in Iran.
FATF complained that Tehran has nor taken serious steps in the practical implementation of its commitments. However, the group has asked Iran to continue the reforms.
The group has also raised concerns about the dangers that face the international financial system due to Iran’s financial support of terrorism.
The FATF had once before extended Iran’s deadline for four months in September.
The opposition to the bills is from the supporters of the Leader Khamenei. They believe the bill is against the “resistance economy” that the leader wants.
Iran has been on the FATF blacklist since 2008. Ever since the nuclear deal (JCPOA) in 2016 and the group suspended Iran from the list due to “Iran’s high-level political commitment to fighting money laundering”.
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