Iran Faces $20 Billion Annual Loss Over FATF Non-Membership

TEHRAN (Iran News) His comments come ahead of a landmark visit by managers from the OPEC Fund for International Development (OFID, also referred to as OFIT in Persian sources), who are scheduled to arrive in Iran later this month — marking the first visit of its kind in 18 years. Salimi emphasized the significance of this visit, describing it as a potential gateway for Iran to access low-interest international loans and attract foreign investors.

Due to international sanctions and its exclusion from FATF, Iran remains cut off from the global banking system, limiting both the government’s and private sector’s ability to secure international loans. Salimi pointed out that other countries, such as Turkey, have benefited immensely from international credit access, supporting annual financial flows of $300 to $400 billion.

Iran’s private sector is particularly affected, being unable to obtain large-scale funding either from international institutions or domestic banks. “The arrival of OFID managers could pave the way for external investment and facilitate Iran’s entry into the international financial network,” Salimi said. “Foreign investors could also act as intermediaries in attracting loans for financing domestic development projects.”

When asked whether this development is connected to the ongoing indirect negotiations between Iran and the United States, Salimi confirmed the link. “International institutions will not lend to Iran while it remains under sanctions. We need to pass FATF legislation and reconnect with the international banking system,” he said.

The FATF, a Paris-based intergovernmental body, sets global standards to combat money laundering and terrorist financing. Iran’s membership has been stalled for years due to internal political resistance. Two key FATF-related treaties — the Palermo Convention and the CFT (Combating the Financing of Terrorism) — are still awaiting approval by Iran’s Expediency Council.

Salimi warned that without resolving the FATF issue, Iran will continue to face high costs in securing foreign capital and conducting international trade. He noted that of the countries refusing FATF membership, only Iran and North Korea remain fully excluded, further isolating Tehran in the global financial system.