28 July 2015
CFT (Combating Financing of Terrorism) bill was ratified by Iranian Parliament. This bill consists of 17 articles and 5 notes. The bill has been prepared in accordance with the laws and regulations of I.R. of Iran and in conformity with international standards.
The main issues covered by this bill are as follows: criminalization, punishment, obligations of Judiciary and other persons subject to the AML law, KYC & CDD, STRs, FT and organized crimes, FT and ML, etc. Before ratification of this bill, Iran was preventing financing of terrorism through Islamic Penal Code.
It is hoped that this step paves the way for more positive interaction between Iran and international bodies which are active in the field of combating financing of terrorism and expands the international banking ties.