No More Banking Cooperation in Case of Being Blacklisted by FATF
IRAN NEWS ECONOMIC DESK
TEHRAN – Iran’s representative in the World Chambers Federation says if Iran does not approve the bill to cooperate with the Financial Action Task Force (FATF), the country will not be allowed to have banking cooperation with 190 countries.
Speaking to ILNA news agency, Pedram Soltani said that if the country does not take advantage of the last chance of the FATF and it is blacklisted by the body, countries will become more sensitive for cooperating with Iran’s banking system.
He went on to say that before doing anything, it is necessary to have a certain definition from the workgroup of the FATF and the tasks of the group and range of its authority.
He went added that the workgroup is tasked to recommend some regulations and MoUs to the member states and Iran’s presence in the body is still in limbo.
Soltani went on to say that Iran should not think that FATF is a body which acts out of the framework of international bodies but it is the colleague of other organizations and it only monitors the conventions and offers new recommendations.
He reiterated that the country should put aside the illusion of conspiracy theory that any international convention has been designed to act against Iran and this theory has deprived Iran from joining many international bodies.
On opponents of the bill who think joining the FATF means revelation of confidential information, Soltani said it is a wrong notion. He reiterated that in case a country asks necessary information about a suspect and terrorist or smuggler, it is up to Iran to submit it or not and it is not obligatory.
He went on to say that the number of members in the FATF is less than the number of countries which observe the recommendations of it.
Soltani added that if Iran joins FATF and Palermo Convention, the country will be acquitted from accusations like money laundering and organized crimes.
He noted that so far 190 countries have joined the Palermo Convention and only eight countries, including Iran, have resisted joining it.
Soltani reiterated in case the country does not approve the bills, banking cooperation with the world will become tougher and in case Iran is blacklisted by the FATF, cooperation with banking system of 190 countries will become impossible.
