RFERL:

Ahmad Tavakoli, an Expediency Discernment Council member in Tehran told reporters on Saturday that the EDC meeting on the bill for joining the UN Convention on Transnational Crime has remained inconclusive and the Council will meet once again next Saturday for the final review of the bill.

The EDC is the constitutional arbiter between the Iranian Parliament (Majles) and the hardliner-dominated Guardian Council that endorses or rejects Majles legislations.

The international watchdog, Financial Action Task Force (FATF) has demanded Iran to approve legislation complying with conventions against money laundering terrorism financing and transnational crime.

For more than a year, Iran’s political factions have been wrestling with FATF demands; with parliament drafting laws and the conservative body constitutionally tasked to approve all legislation, opposing some of the new laws. Now the pending legislation is with the EDC, which will have the final say on the matter.

Without the internationally required legislation Iran will have a tougher time to do business and banking with the rest of the world.

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