‘Iran establishes intl. banking ties beyond FATF’

February 28, 2020 - 13:40

TEHRAN - The governor of the Central Bank of Iran (CBI) says the country has established international banking ties that are unsanctionable and also do not relate to FATF, Mehr news agency reported.

"Our country has been able to create unsanctionable banking and monetary ties with the world out of the FATF framework," Abdolnaser Hemmati wrote in an Instagram post.

"The central bank, along with other economic sectors, will continue their efforts to meet the country's sustainable business needs," he added.

The official further noted that the country’s exporters have injected hundreds of millions of dollars into the domestic economic system, assuring that the recent rampant inflation in the forex rates will be curbed in the near future.

The Paris-based Financial Action Task Force (FATF) on February 21, placed Iran on its blacklist after Iran refused to comply with the watchdog’s requirements.

Earlier this month, Hemmati had said that FATF blacklist is not going to cause any problems for the country’s foreign trade and stability of the foreign currency market.

“During multiple periods of sanctions and maximum pressure, our monetary and financial system has become able to establish unsanctionable links with the world's monetary and financial system outside the framework of the FATF, and this has largely curbed the U.S.’s threats and hostility,” he said.

Iran’s Opposition to join the FATF grew after the U.S. abrogated the 2015 nuclear deal and imposed the harshest ever sanctions in history against Iran.

The FATF appeared to leave the door ajar for Iran saying “countries should also be able to apply countermeasures independently of any call by the FATF to do so.”

The United States, the Zionist regime and Saudi Arabia had made great efforts to pressure the international body to blacklist Iran.

EF/MA

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