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Council Says Debate on 2 FATF Bills Postponed Due to Covid Restrictions

The Expediency Council on Wednesday cancelled a meeting to discuss two bills demanded by the Financial Action Task Force, the global anti-money laundering watchdog, citing the resurgence of the Covid-19 epidemic. 

Referring to the lockdowns and restrictions on gatherings announced by the National Coronavirus Center, Ahmad Tavakoli, a member of the EC said "the session couldn’t be held virtually due to lack of technical preparedness." 

With many big cities in Iran on red alert and new coronavirus infections and deaths rising, health authorities have urged the  people to avoid public and private gatherings. Health officials reported 21,000 new cases and 193 deaths on Wednesday.   

After extended delays, the EC put on its Wednesday session agenda two controversial bills, namely the Palermo (convention against transnational organized crime) and terrorist financing conventions (CFT). 

FATF has asked Iran to pass four bills as part of the “Action Plan” to be eligible to exit its blacklist. The Rouhani administration has approved and enacted amendments to the counter-terrorist financing and anti-money laundering rules.   

But it failed to get approval from the main legislative body for the two remaining bills. The two bills were rejected by the Guardian Council - a watchdog that ensures laws are in line with the Islamic Republic Constitution and Sharia - and were sent to EC for a final decision.  The EC is a constitutional arbiter between the Majlis and the Guardians.  

The bills have been in limbo for more than year before the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei last December approved a government request to extend the deadline for discussing the two bills.   Despite strong opposition from political rivals the government has strived to push the bills through the powerful council.