November 5 2019
The Iranian Central Bank has made it mandatory for all banks in Iran to establish an anti-money laundering unit. The initiative appears to be an effort by the Rouhani administration to circumvent the legislative deadlock over meeting the requirements of the Financial Action Task Force (FATF).
The latest deadline set by FATF gives Iran less than four months to join international conventions against money laundering and funding terrorism. In the meantime, debate over compliance with FATF requirements appears to have been used as a pawn in the dynamics between the country’s leading political factions.
