Executive secretary of the global anti-money laundering body the Financial Action Task Force believes that Iran's removal from the list of non-cooperative jurisdictions would help the country develop its financial ties with the world regardless of the US sanctions.
In an interview with the BBC, David Lewis was asked whether Iran's removal from the blacklist of the inter-governmental organization would have any positive results for the country's financial ties, to which he responded: "Yes of course".
Iran is under pressure to find new ways to maintain connections to the global financial system as US sanctions bite and the Trump administration prepares to impose measures intended to stop Iranian oil exports in November
"Regardless of the fact that how different countries would respond to the Iran sanctions, the outcome of Iran's cooperation with the FATF would be positive," Lewis said, as reported by entekhab.ir.
"Definitely this could create the conditions for countries to enter into trade with Iran and show the world that the countries are safe places for investment."
The official added that while FATF does not determine which groups are considered terrorists, it expects countries to criminalize terrorist financing for UN-designated entities. "FATF does not have a say in designating groups as terrorists."
Last month Lewis told the Financial Times that "Iran is working hard, in a difficult political situation but the question is whether it’s done enough, and that will be addressed in October.”
The Tehran government has sent four pieces of legislation to the Parliament, which includes amending the country's AML/CFT law in accordance with FATF standards and joining the United Nations Convention Against Transnational Organized Crime (Palermo) and the International Convention for the Suppression of the Financing of Terrorism. The CFT amendment has been approved by both the Majlis and the Guardian Council and early indications from GC's spokesman implied that the body has also approved the AML and Palermo.
In June, the Paris-based FATF announced that although it was "disappointed" with Iran’s failure to implement its action plan to address its significant AML/CFT deficiencies, "in view of the Iranian government’s continued efforts to finalize and pass amendments to its AML and CFT laws, the FATF decided at its meeting this week to continue the suspension of counter-measures."
The inter-governmental body said in its final statement after its joint plenary session that it expects Iran to complete its action plan in full compliance with the FATF standards by October 2018 or otherwise, the FATF will "decide upon appropriate and necessary actions at that time".
FATF convened on Sunday with a to-do-list which includes evaluating the progress made by Iran in fulfilling its Action Plan to reduce its AML risk.
