Senior Cleric Warns Against Negative Consequences of Iran's Endorsement of FATF

Tehran's provisional Friday Prayers leader Hojjatoleslam Kazzem Seddiqi warned senior Iranian officials against the negative consequences that are likely to rise from the endorsement and implementation of the Financial Action Task Force (FATF) recommendations.

Addressing a large and fervent congregation of the people in Tehran on Friday, Hojjatoleslam Seddiqi asked Iranian officials, "What guarantee is there if you sign the FATF no further restrictions and pressures will be imposed against Iran?"

"It is against our cultural independence to accept whatever the enemies decide for us in their think tanks because we follow the orders by the Holy Quran and Prophet Mohammad (PBUH)," he added.

The senior Iranian cleric underlined that accepting the FATF will become a prelude to more sanctions and pressures.

The bill on Iran’s accession to the convention against the funding of terrorism (CFT) was rejected by the Guardian Council in early November due to some flaws that the Council had found to be ambiguous or against the country’s Constitution. The bill was then amended by the Iranian Parliament, waiting for the next steps in the Guardian Council.

To fulfill FATF requirements, President Hassan Rouhani’s administration has proposed four bills to the parliament for approval, two of which are still undecided, including the Palermo Convention. They have been referred to the Expediency Council for final approval.

Iran recently approved anti-money laundering (AML), which was a domestically-developed bill, and it voted to join the CFT standards set by the FATF for years.

On June 30, the FATF said Iran had until October to complete reforms that would “bring it into line with global norms or face consequences” that could further deter investors from the country.

source: FARS News Agency