Business And Markets

Palermo Bill Hits a Snag at Iran's Expediency Council

Extended delays come as another FATF-related bill–the anti terror finance bill known as CFT–which has also proved to be controversial, has yet to be reviewed by the council
The Council will convene again in two weeks' time.  The Council will convene again in two weeks' time.

Iran's plans to join the UN Convention on Transnational Crime suffered a setback in the Expediency Council Saturday as members of the arbiter body could not settle their differences and reach a consensus. 
This is the second time that the powerful council has failed to come up with a definite vote on the divisive issue that now seems to ensure that Iran will miss a February deadline to complete its action plan with the global anti-money laundering body, the Financial Action Task Force. 
The Council will convene again in two weeks' time. 
The Expediency Council is the constitutional arbiter between the Majlis and the Guardian Council that endorses or rejects legislation based on conformity with the Islamic Republic Constitution and the Sharia. 


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