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Iranian parliament approves Combating the financing of Terrorism Bill

Iranian Parliament on 22 July 2015 enacted a law on combating the terrorist financing which was initially ratified in 2012.

Combating the Financing of Terrorism (CFT) Bill was submitted to the Parliament in 2010 and passed in 2012, but the Guardians Council found some faults in the ratified law and forwarded it back with its proposed amendments to the Judiciary for due considerations.
Due to the grave concern and significance of this law both locally and internationally, the High Council on Anti-Money Laundering on several occasions pursued the process of proposed bill and asked for its faster implementation.
Several sessions have been held in the presence of Judiciary, Financial Intelligent Unit (IRIFIU), Central Bank of Iran, Ministry of Economic Affairs and Finance, and Parliament members to correspond the sensitive law with the necessities of the day of the country and the international laws in the field.

In fact, the measures have been taken by the officials of I.R. of Iran indicate their deep understanding of the significance and necessity of AML and CFT. Iran has amended the CFT Bill to meaningfully address the risk of terrorist financing and the serious threat this poses to the integrity of the international financial system and it shows this fact that Iran has made all possible efforts to take practical and fundamental steps in removing the deficiencies of its AML/CFT system and making it more efficient.