This is our last deadline to join FATF

The Minister of Economic Affairs and Finance pointed to the measures taken to approve the FATF bills, noting that this is our last deadline to join the Special Financial Action Task Force (FATF).

(SHADA: TEHRAN) -- On the sidelines of the cabinet meeting on Wednesday, Farhad Dejpasand said after the deadline set by the Financial Action Task Force, Iran will be automatically blacklisted, and added: To be delisted, we need to write an Action Plan that may make it more difficult for the country to be removed from the list.

As to the four-month deadline for Iran to approve the FATF bills, he said: We requested extensions several times and they accepted them, but this time we were warned that this was the last chance and could not be renewed.

One month before the main meeting, a preparatory meeting will be held, where we will have to submit a report about our acts and measures, he continued.

The anti-money laundering bill has been set out in 158 articles and following the approval of the Supreme Anti-Money Laundering Council, the bill has been approved by the head of the judiciary and the government, which has greatly helped and covered many of the action plan clauses, Dejpasand noted.

The Minister of Economic Affairs and Finance also stated that the bylaw of the Independent Financial Information Center has also been approved.

Dejpasand went on to say that two bills of Palermo and CFT have still remained as the government hopes that they would be approved.

It is noteworthy that FATF approved for the sixth time a temporary suspension of counter-measures against Iran on 18 October. The international body says it has given our country, for the last time, four more months to determine its compliance with the remaining two of the four bills based on the recommendations of the Special Financial Action Task Force to combat terrorism and money laundering.

In another part of his speech, the Minister noted that the government is determined to develop non-oil exports, adding that the Ministry will try to avoid restrictions on non-oil exports.

As to the stock market, Dejpasand said that the government is seeking to adopt a tax exemption regulation on corporate asset revaluation as soon as possible in order to boost the stock market.