(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 2. Iran's Guardian Council has conditionally approved the country's accession to the Convention on Combating the Financing of Terrorism (CFT), Mohsen Dehnavi, spokesperson for the council, said in a post on his official X page, Trend reports.

Dehnavi noted the council held four meetings to review the convention. The sessions included members of Iran's Experts Council, the ministers of economic affairs, finance, foreign affairs, and other officials.

“During the meeting, the joint commission of the Guardian Council examined various aspects of the CFT convention and held discussions. In the end, the majority of council members voted in favor of Iran's parliament joining the International Convention on Combating the Financing of Terrorism,” Dehnavi said.

On May 15, 2025, the Iranian Advisory Council approved the FATF Convention against Transnational Organized Crime (Palermo). The Convention against the Financing of Terrorism (FT) is currently under review.

The Financial Action Task Force (FATF) of the Organization for Economic Cooperation and Development is an intergovernmental body that regulates the rules for combating money laundering and terrorist financing. At the last meeting of this organization, Iran was warned that if the country's program of steps is not improved, Iran may be added to the list of non-cooperative countries. Iran has complied with 37 out of 41 FATF steps.

The remaining four steps or conventions fall under the scope of the legislation. "Amendments to the Law on Combating Money Laundering," "Amendments to the Law on Combating the Financing of Terrorism," "Accession to the International Convention on Combating Transnational Organized Crime (Palermo)," and Accession to the International Convention on Combating the Financing of Terrorism (CFT) have been drafted by the Iranian government and sent to the parliament. Although the four conventions were approved by the parliament and sent to the Advisory Council, the CFT conventions and the Palermo Convention have not yet been approved by the mentioned council.

The G7 group founded the FATF in 1989 to address money laundering. The organization comprises 37 members, with its administration situated in Paris.

The FATF designated Iran as a high-risk jurisdiction in 2007 and enacted formal sanctions on Tehran in 2009. Consequently, nations needed to exercise prudence in financial and banking transactions with Iran. Since 2016, diplomatic initiatives have postponed the implementation of retaliatory actions against Iran.

The Financial Action Task Force (FATF) designated Iran as a non-cooperative country (blacklist) on February 21, 2020.

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