Iran asks IMF help with law against terror funding

WASHINGTON, Feb 18 (Reuters) – Iran, long accused by the West of funding terrorism, has asked the International Monetary Fund for technical assistance in drafting a law to combat terrorism financing, the IMF said on Thursday.

In an annual assessment of Iran’s economy, the Washington-based global financial institution “noted progress in establishing a more comprehensive” framework in Iran for tackling terrorism financing and money laundering.

In the review the IMF urged Iran to strengthen those efforts.

“The authorities have requested additional technical assistance with the drafting of a law on combating the financing of terrorism and to bring Iran’s AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) more in line with international standards,” the IMF said.

Earlier on Thursday, the international body fighting money laundering and terrorist financing put Iran on its blacklist of countries that pose risks to the international financial system.

The Financial Action Task Force said Iran had been put on the list due to the ongoing and substantial money laundering and terrorist financing risk. [nLDE61H2IG]

“The FATF remains particularly concerned about Iran’s failure to address the risk of terrorist financing and the serious threat this poses to the integrity of the international financial system,” the FATF said in a statement.

The IMF’S technical assistance is likely to be legal in nature and would probably in… >>>

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