CBI Chief: FATF Crucial for Foreign Banking Ties
Governor of the Central Bank of Iran Abdolnaser Hemmati says recommendations of the anti-money laundering body, the Financial Action Task Force, are part and parcel of international banking norms and thus essential for financial ties to the outside world.
In a Instagram post on Friday, Hemmati referred to today’s (Saturday) meeting of the Expediency Council about the contentious Palermo bill and reminded the council: "Maintaining and strengthening the limited ties of our country with foreign banks" is a necessity.
The Expediency Council refused last month for a third time to come up with a definite vote on whether or not it rejects Iran's accession to the UN Convention on Transnational Crime, commonly known as the Palermo bill.
Palermo bill is one of four government bills that seek to bring Iran's anti-money laundering and countering financing of terrorism standards in line with international norms. Out of the four FATF bills two have already become law.
As the powerful council takes up the issue again today, there is no guarantee about the outcome. President Hassan Rouhani on Tuesday launched a staunch defense of his government's decision to comply with global anti-money laundering and countering financing of terrorism rules, saying failure to do so would harm Tehran’s foreign banking and financial relations.
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Mercuria partners with Zambia on metals trading venture
Iron ore price weakens as Australia flags return to sub-$100 prices
Arcadium Lithium investors sue miner over Rio Tinto takeover
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Triple Flag to acquire royalty on Tres Quebradas lithium project
Aluminum price falls to one-month low in wider commodity slump
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine
Gold price slips as traders weigh outlook for Fed interest rate cuts
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine