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Iran approves anti-money laundering bill to ease trade amid US sanctions

The move came after Ayatollah Sadeq Amoli Larijani - the chief of hardline judiciary - was appointed last week as the head of the Expediency Council

Reuters  |  London 

A powerful Iranian council approved an anti-money laundering bill on Saturday, state media reported, a major step towards reforms that would bring Iran into line with global norms and could facilitate foreign trade in the face of US sanctions. Iran has been trying to implement standards set by the Financial Action Task Force (FATF), an inter-governmental organisation that underpins the fight against money laundering and terrorist financing. Foreign businesses say Iran's compliance with FATF standards and its removal from the organisation's blacklist are essential if they ...

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First Published: Sat, January 05 2019. 19:02 IST
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