DUBAI (Reuters) – Iran's parliament approved a tweaked draft law against funding terrorism on Wednesday which officials hope brings Tehran nearer to global standards and help take it out of investment blacklists simply because it faces renewed U.S. sanctions.
The official news agency IRNA said lawmakers had included amendments requested with a powerful clerical body, which must vet all legislation passed through parliament before it becomes actual law.
Supporters hope the legislation, once passed, will grant Iran to sign up for an internationally convention with the funding of terrorism and conform to measures against money laundering set from the Financial Action Task Force (FATF).
Hardliners in parliament have opposed regions of the legislation, saying it could actually hamper Iranian financial support for allies which include Lebanon’s Hezbollah, in which the Us has regarded as a terrorist group.
The Guardian Council clerical body had asked lawmakers that include clauses along with a guarantee that legal issues wouldn’t clash using the constitution.
The Paris-based FATF said in October that Iran had until February in order to complete reforms which would bringing it into line with global norms or face consequences.
Foreign businesses say legislation including FATF guidelines is critical if they are to boost investment.
Many Western companies have already ceased cooperation with Iran following your Usa brought out of your 2019 nuclear deal between world powers and Tehran in May and reimposed sanctions.