The combating the financing of terrorism (CFT) bill, one of four put forward by the government to meet FATF demands, was passed on Sunday by 143 votes to 120, according to the ISNA news agency.
To become law, however, Iran’s oversight Guardian Council should vet the bill for compliance with the Constitution.
Back in June, the Paris-based FATF gave Iran until October to implement its standards in order to remove Tehran from investment blacklists. The group also warned Tehran of “appropriate and necessary actions” if it does not enact amendments in full compliance with its standards.
The FATF cannot impose sanctions, but individual states that are its members have used the group’s reports to take punitive measures against their adversaries. As a result, Iran has been targeted by US and European sanctions.
For years, Tehran has been implementing anti-money laundering (AML) and combating the financing of terrorism (CFT) standards set by the FATF, but the group says it is not satisfied with the measures.
Domestic proponents of the measures are pressing Iran to go the extra mile, but critics argue that membership in the group will only make the country vulnerable to outside meddling.
They say Iran’s implementation of FATF standards so far has not only failed to attract investment, but it has also exposed various institutions to extraterritorial regulations and penalties.
Iran’s Foreign Minister Mohammad Javad Zarif on Sunday dismissed demands by opposing lawmakers that he guarantee the CFT approval would resolve problems…