Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) has called for the country’s full compliance with the Financial Action Task Force (FATF) recommendations.
In a statement issued on Wednesday, the Iran Chamber of Commerce, emphasized that resolving the FATF issue could yield significant benefits for Iran’s trade and financial interactions globally, even under sanctions.
The ICCIMA described adherence to FATF guidelines in alignment with efforts to remove Iran from the organization’s blacklist as a clear message of the country’s commitment to secure and transparent economic relations with the world.
In its statement, the Iran Chamber of Commerce voiced support for the principled policies of the new administration, led by President Masoud Pezeshkian, and expressed readiness to cooperate with the government to address the FATF issue.
“For years, alongside unjust sanctions, restrictions resulting from non-compliance with FATF standards have posed significant obstacles to [Iran’s] global trade and cross-border financial transactions, hindering the private sector's growth,” the statement read.
The Iran Chamber of Commerce argued that full cooperation with FATF, even amid sanctions, could help facilitate trade and lower transaction costs. It described such measures as a historic milestone in advancing the nation’s economic well-being and a testament to rational governance.
President Pezeshkian’s pledge to pursue FATF issue through legal channels has created hope among private sector operators, the statement added.
The ICCIMA underscored that adopting FATF recommendations would improve financial transparency, strengthen international relations, attract foreign investment, and reduce risks associated with money laundering, ultimately fostering growth in foreign trade and reducing transaction costs.
The Iran Chamber of Commerce reiterated its full support for the government’s efforts to enhance financial transparency and reaffirmed its willingness for any cooperation with the government in this regard.