Iran signs law to join UN anti-terror financing
(MENAFN) Iran has ratified a law joining the UN International Convention for the Suppression of the Financing of Terrorism (CFT), local media reported Wednesday, aiming to improve access to global banking, ease trade, and alleviate pressure on its sanctions-hit economy.
President Masoud Pezeshkian, elected last year on a platform of improving relations with the West, is seeking to align Iran with the Financial Action Task Force (FATF) standards, which monitor money laundering and terrorist financing.
Iran has historically supported groups designated as terrorist organizations by the US, including Hamas, Hezbollah, and Yemen’s Houthis, as well as its Islamic Revolutionary Guard Corps (IRGC). The country was placed back on the FATF blacklist in 2020, alongside North Korea and Myanmar, restricting its access to the international banking system.
Tasnim news agency reported that Pezeshkian had formally promulgated the law on Iran’s accession to the CFT. The decision has sparked debate, with ultra-conservatives warning it could expose sensitive economic and military information, especially regarding support for regional militant groups.
Reformists and moderates see compliance as key to reconnecting with international finance and stabilizing the economy, though existing sanctions remain the main barrier. Iranian media also noted that Tehran sent a representative to an FATF meeting in Paris for the first time in six years.
The ratification comes after renewed UN sanctions in September and amid ongoing diplomatic tensions following Israeli and US strikes on Iranian nuclear sites.
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