CBI Chief: FATF Blacklist Causes No Problem for Iran’s Foreign Trade, Currency Stability

February 21, 2020

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Tehran, Feb 21, IRNA - Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati said thanks to the efforts made by CBI over the last year, the FATF act to blacklist Iran will bring no problem for foreign trade and stability of the currency.

He wrote on his Instagram page that once again the animosity of the US and the Israeli regime against Iranians appeared in the form of opposing FATF experts with regard to Iran’s steps to comply with its commitments regarding money-laundering and the financing of terrorism.

This political and non-technical behavior has been going on for three years in the form of non-technical excuses during the FATF summit by the US representative and its allies, and sometimes as attempts to disrupt expert reports, he added.

Hemmati vowed that CBI will fulfill people’s demands.

“In October 2019, the FATF called upon its members and urged all jurisdictions to require increased supervisory examination for branches and subsidiaries of financial institutions based in Iran; introduce enhanced relevant reporting mechanisms or systematic reporting of financial transactions; and require increased external audit requirements for financial groups with respect to any of their branches and subsidiaries located in Iran,” FATF official website reported.

“Now, given Iran’s failure to enact the Palermo and Terrorist Financing Conventions in line with the FATF Standards, the FATF fully lifts the suspension of counter-measures and calls on its members and urges all jurisdictions to apply effective counter-measures, in line with Recommendation 19,” it added.

“Iran will remain on the FATF statement on [High-Risk Jurisdictions Subject to a Call for Action] until the full Action Plan has been completed.”

“If Iran ratifies the Palermo and Terrorist Financing Conventions, in line with the FATF standards, the FATF will decide on the next steps, including whether to suspend countermeasures.”

Earlier, Iran’s Foreign Minister Mohammad Javad Zarif on Friday briefed the reporters on an ongoing plenary meeting of the Financial Action Task Force (FATF).

A vast majority of the speeches over the past days of the meeting suggest that the deadline will be extended, Zarif said that the two countries as well as “a pro-terrorist regime” are opposing the extension of Iran’s time.

He elaborated on the three supporters of blacklisting Iran, tacitly referring to the US as a country which “is itself terrorism” as it has shown its state terrorism with the assassination of Iranian Lieutenant-General Qasem Soleimani and has demonstrated its economic terrorism with the imposition of sanctions on Iran and other countries.

Saudi Arabia is a real model of terrorism, the Iranian minister said, referring to the Zionist regime as a regime, state terrorism has been basically named in its name.

However, he noted, “We have to wait and see what will happen.”