07 Jan 2019
A powerful Iranian council approved an anti-money laundering bill on Saturday, state media reported, a major step towards reforms that would bring Iran into line with global norms and could facilitate foreign trade in the face of U.S sanctions.
Iran has been trying to implement standards set by the Financial Action Task Force (FATF), an inter-governmental organisation that underpins the fight against money laundering and terrorist financing.
Foreign businesses say Iran’s compliance with FATF standards and its removal from the organisation’s blacklist are essential if they are to increase investment, especially after reimposition of the U.S. sanctions on Tehran.
– By Bozorgmehr Sharafedin, Reuters, 5 January 2018.
Link to Reuters.
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