Government Requests Expedient Approval of Palermo Bill from the Expediency Council

Simultaneously with the criticism from some Friday prayer leaders against the Financial Action Task Force (FATF) regulations, the legal deputy of the President announced that the government has requested the Expediency Council to expedite the review of the Palermo Bill, one of the bills related to these regulations. According to IRNA news agency, Laya Janidi, the legal deputy of the President, said on Friday, January 18, that after the approval of the anti-money laundering bill, the status of Iran's accession to the United Nations Convention against Transnational Organized Crime (Palermo) and the Convention on Combating the Financing of Terrorism (CFT) must be determined 'as soon as possible.' She referred to the formation of a working group to review Iran's accession to the Palermo Convention in the Expediency Council, adding that 'we have requested the head of the Council to expedite the consideration of this bill.' The 'Iran's Accession to the Convention against Transnational Organized Crime' bill, known as the 'Palermo Bill,' is awaiting approval from the Expediency Council. Two other bills from the FATF, including the 'Amendment to the Law on Combating the Financing of Terrorism' and the 'Amendment to the Law on Combating Money Laundering,' have been approved by the Guardian Council and the Expediency Council. The Guardian Council has rejected the bill on Iran's accession to the Convention on Combating the Financing of Terrorism, the most important bill related to the implementation of these regulations, and these objections are currently under review in the Parliament. Meanwhile, Tasnim news agency published the text of the National Security and Foreign Policy Commission's resolution, which insists on its previous resolution regarding this bill. If this commission's resolution is also approved in the Parliament's open session, the bill will be sent to the Expediency Council for review. Previously, Ali Larijani, the Speaker, and some other representatives had reported that European banks and even banks from 'friendly countries' have stated that the condition for cooperation with Iran is the approval of bills related to the implementation of FATF regulations. Meanwhile, the legal deputy of the President stated that the approval of these bills 'will facilitate the financial mechanism of Europe.' Opponents of Iran's accession to FATF regulations, mainly appointed by the Supreme Leader, argue that the approval of these bills will block the way for financial assistance to 'Hamas,' 'Hezbollah,' and similar groups. Meanwhile, Mohammad Ali Mohammadi Kermani, the Friday prayer leader of Tehran, said in his sermon on January 18: 'Although FATF appears to be formed to combat money laundering and terrorism, it is in fact a mechanism for intelligence oversight over the resources and information systems of other countries and a tool of the US Treasury in imposing more sanctions against Iran and other countries, especially the resistance movement (Hezbollah and similar groups).' Supporters of Iran's accession to this convention argue that its opponents fear economic transparency and the prevention of banking corruption. The FATF expressed regret on October 19 that most of the issues related to Iran's commitments remain unresolved, while it extended Iran's suspension from the group's blacklist for another four months, which was welcomed by Islamic Republic officials. Meanwhile, the International Monetary Fund has advised Iran to implement anti-money laundering and counter-terrorism financing measures before the February 2019 deadline (FATF).