Iran’s ICCIMA head calls for action to remove Iran from FATF Blacklist
Date
11/27/2024 3:29:59 AM
(MENAFN) Deputy Head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), Mohammad Reza Bahraman, has emphasized the detrimental effects of the Financial Action Task Force (FATF) blacklist on Iran’s trade activities. Speaking at the 18th International Exhibition for Mines, Mining, Construction Machinery, and Related Industries (Iran CONMINE) in Tehran, Bahraman noted that while Iranian private sector entities are making efforts to maintain international communication and advance negotiations with foreign partners despite sanctions, financial transactions remain severely hindered by FATF restrictions. He pointed out that these restrictions have escalated the cost of doing business, leading to hesitation from major international companies to collaborate with Iranian firms.
Bahraman stressed that the challenges posed by the FATF blacklist are separate from the broader U.S. sanctions, which have also affected Iran’s economy. He argued that addressing these financial transaction barriers is crucial, and the responsibility to resolve the issue lies within Iran itself. He urged the government to take swift action to address the impact of these FATF sanctions, which continue to complicate the financial landscape for Iranian businesses seeking to engage in international trade. Bahraman also proposed that the Iran Chamber of Commerce could play a significant role in facilitating the process of removing the country from the FATF blacklist, leveraging the resources and expertise of the private sector to expedite the resolution.
The ICCIMA has already expressed its support for the government’s efforts to get Iran removed from the FATF blacklist. Earlier this month, board member Keyvan Kashefi reaffirmed the Chamber’s backing for government actions aimed at alleviating the challenges caused by FATF restrictions. The ICCIMA board is expected to issue a statement in support of these efforts, signaling a united front in addressing the barriers that hinder Iran’s trade and financial activities on the global stage. With international trade operations continuing to face significant obstacles, both the public and private sectors are calling for urgent government intervention to resolve these challenges.
The FATF blacklist, which includes a number of countries, has posed a significant challenge to Iranian businesses, limiting their ability to engage in global financial transactions. As Iran continues to seek ways to improve its trade relationships and integrate more fully into the international economy, the removal of the FATF restrictions remains a critical goal. By emphasizing the importance of swift action, Bahraman’s comments underline the urgency of resolving this issue for the future of Iran’s economic growth and stability.
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