Economy, Business And Markets

Constitutional Framework Decides Coop. With FATF

Constitutional Framework Decides Coop. With FATFConstitutional Framework Decides Coop. With FATF

Referring to the recent negotiations between Iran and the Financial Action Task Force, the economy minister says Iran will not acquiesce to the anti-money laundering body’s requests if they are unreasonable or violate the Islamic Republic Constitution.

Ali Tayyebnia spoke of the contacts and correspondence between Iran and FATF (an organization founded with the goal of fighting money laundering) that led to a one-year suspension of some restrictions on Tehran, stressing that the country will follow up on countering terrorism financing and money laundering within the framework of the Constitution and based on its own criteria.

“Should anything try to deflect us from this framework, naturally we will not comply. This is a red line for us that cannot be crossed”, he said as reported by

Referring to the salary scandals, Tayyebnia said if inadequacies and shortcomings are revealed in our work, “[they] will create a backdrop for us to pursue reforms more effectively. If the salaries issue had not surfaced, we would not be trying to set things right.”

He added: “Our remuneration system has many flaws and must be revised. I myself spent a lot time in recent weeks reflecting on this issue. It is better to look at the payment system in tandem with the Resistance Economy and seek fundamental corrections. It is better that we strive to rectify such matters instead of ruining reputations.”

If revelations are made with the real intention of reforming the system “it is a positive move that is indeed happening now.”  

On the connection between reforms and transparency what the Ministry of Economy is doing to ensure economic transparency, the minister said his ministry has issued a directive to all companies and banks and requested the Audit Organization to provide a list of 20 people with the highest salaries in their financial statements.

“All this information will be made public and is not restricted to top-tier executives or oversight bodies,” he said, referring to the huge controversy over inflated wages, perks and bonuses paid to some top managers in the government organizations, banks and state-affiliated companies.

According to Tayyebnia, if a procedure takes hold based on which information regarding salaries are constantly and naturally published, then no one can expect fat salaries. “When an executive finds himself receiving several salaries and all his payments are in full view of the public, he will automatically control himself.”