BEIRUT: Iran鈥檚 Supreme Leader advised members of parliament on Wednesday to pass their own legislation to combat money laundering, decreasing chances that laws based on requirements by the global Financial Action Task Force (FATF) will be passed.
鈥淪ome of these treaties have useful parts, it鈥檚 not a problem,鈥� Aytollah Ali Khamenei said in a speech to members of parliament, according to a transcript published on his official website. 鈥淭he solution for this issue is that the parliament should make up its own law. For example, a law for fighting money laundering. There is no need for us to accept things that we don鈥檛 know where they will end up.鈥�
Iran has been attempting to implement standards set by FATF, a global group of government anti-money-laundering agencies, in the hopes it will be removed from a blacklist that makes some foreign investors reluctant to deal with the country.