Joining FATF facilitates Iran's financial transactions: Russian expert

Moscow, Oct 8, IRNA - A Russian banking expert referred to the approval of a bill on Iran's accession to the Combating the Financing of Terrorism (CFT) in Iranian Parliament and said joining Financial Action Task Force (FATF) will facilitate Iran's financial transactions with others.

In an interview with the Islamic Republic News Agency (IRNA), Oleg Akulinichev said on Monday the approval of the bill is the first step out of four which the FATF has suggested Iran to take to tackle money-laundering.

He stated the other three steps include making changes to the law on terrorism financing, reforming anti-money laundering laws, joining the UN Convention against Transactional Organized Crime and Counter-Terrorism Convention.

Iran is currently on the FATF blacklist which has a negative effect on its financial transactions and banking relationships with other countries, Akulinichev further said.

The Russian expert noted the FATF has called on Iran to clarify its financial transactions.

With regard to Iran-Russia financial relations, Akulinichev said Russia considers Iran a strategic partner in economic, political and security areas.

He expressed confidence that joining the intergovernmental organization will be of benefit to Iran and will help the country to take advantage of its huge economic and industrial potentials.

The Iranian parliamentarians passed Counter-Terror Finance Legislation on October 7.

9477**1771

Follow us on Twitter @IrnaEnglish