Iran establishes an entity to work with the European financial mechanism

by **claud39** Sat Feb 23, 2019 9:03 am

https://www.alaraby.co.uk/economy/2019/2/23/%D8%A5%D9%8A%D8%B1%D8%A7%D9%86-%D8%AA%D8%A4%D8%B3%D8%B3-%D9%83%D9%8A%D8%A7%D9%86%D8%A7-%D9%84%D9%84%D8%B9%D9%85%D9%84-%D9%85%D8%B9-%D8%A7%D9%84%D8%A2%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A%D8%A9

[rtl]Iran establishes an entity to work with the European financial mechanism[/rtl]

23 February 2019

Iran establishes an entity to work with the European financial mechanism 368

[rtl]Iran's central bank announced on Saturday that it was working to establish an entity to cooperate with the European financial mechanism Instix, which was set up by the European troika (France, Britain and Germany) at the end of last month to continue business with Iran. "Far less than European commitments to prevent the collapse of the nuclearagreement ," according to the agency "Tasnim" Iran.[/rtl]

[rtl]The Iranian bank also welcomed the agreement of the International Financial Action Group (FATF) on Friday to extend the suspension of its measures against Iran, as well as a new grace period for the third time, until June, to carry out necessary reforms and pass legislation and regulations required to join the group. .

The Central Bank of Iran also expressed hope that the Expediency Council in Iran will determine the fate of the remaining two projects to join Vatv as soon as possible.
"If Iran does not do the remaining legislation by June 2019 in line with the FATF standards, the FATF will need to increase the supervisory scrutiny of the branches of the financial institutions and its affiliated units based in Iran," Paris-based VTV warned.

The Iranian government had previously submitted 4 bills to the parliament to join the group "Vatf", two of them were approved by the two Islamic Shura Council and the maintenance of the Constitution.

However, Iran's decision-making circles on joining the International Convention against the Financing of Terrorism (CFT) and the Convention against Transnational Organized Crime (Palermo) continue to debate.

It is assumed that the Council will determine the interest of the regime in Iran during the next phase on the fate of the two projects, after what he had to resolve the dispute over them.

The Iranian constitution states that if the Islamic Consultative Council and the Guardian Council, which supervises the work of the former, and the laws passed by it, fail to resolve the differences between them, the controversial topics will be referred to the Council of Expediency Council.

The European Troika, in its statement on the establishment of the Enistex financial channel on January 31, linked the activation of the channel with Tehran joining the international group "Vatf".

However, the Iranian foreign minister said at a meeting of the National Security and Foreign Policy Committee of the Iranian parliament that his country rejected this European condition, saying: "We have protested against linking the work of the financial mechanism with Iran's accession to Vatf," according to the agency "ISNA" Iran.
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