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Iranian Lawmakers Endorse Amended CFT Bill

Iranian lawmakers passed amendments to a landmark anti-terror finance bill approved in October in order to address objections raised by the constitutional watchdog the Guardian Council. 

The changes had been endorsed earlier by the Majlis Foreign Policy and National Security Commission, but were passed by the full chamber on Wednesday. 

MPs however insisted on the second note of the bill, rejecting any tweaks to them, IRNA reported. In order to become law, bills passed by the parliament must also be approved by the Guardian Council – a body made up of six clerics appointed by the Supreme Leader and six lawyers charged with ensuring draft laws are compatible with religious laws and the Islamic Republic Constitution.

If a dispute over draft laws cannot be resolved between the Majlis and the GC, the issue is referred to the Expediency Council made up of the heads of the three branches of government and other members appointed by the Leader.  

Lawmakers first approved the bill on Oct. 7 that allows Iran to formally join the International Convention for the Suppression of the Financing of Terrorism. The bill cleared a major hurdle to improve Iran's status with the global anti-money laundering body the Financial Action Task Force.

Leader Ayatollah Seyyed Ali Khamenei said at the time that that he is not opposed to the bill being debated in the Majlis and trusts the parliament to make the right decisions. 

But hardliners are among the more vociferous opponents of the measure which they say endangers Iran's support for resistance and liberation groups  and exposes the country to foreign infiltration. 

FATF announced earlier this month that Iran had until February to complete reforms that would bring it into line with global norms or face consequences

The Paris-based body said after a meeting of its members in October that it was disappointed that Tehran had failed to act on nine out of 10 of its guidelines despite pledges to make the upgrade. It had previously set a October deadline to complete all the reforms.

President Hassan Rouhani said Tuesday that the heads of the three branches of the government agree with the FATF-related legislations – three of which have yet to become law–and  added that "good or bad, [compliance] with FATF is necessary for financial relations to continue with the world."

Caption: MPs however insisted on the second note of the bill, rejecting any tweaks to them.