Iran must join the Financial Action Task Force (FATF) to achieve the 8% economic growth target outlined in its Seventh Development Plan, according to Payam Bagheri, Vice President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA).
One of the main concerns of exporters and economic players is the lack of international financial interactions and banking relations with target countries, Bagheri said, emphasizing the importance of leveraging all available opportunities to meet the country's development objectives.
He stressed that ignoring the FATF issue raises production costs, which harms businesses and risks losing competitive market advantages.
The ICCIMA vice president underscored that Iran’s accession to FATF is a key demand of the business community. He argued that resolving banking and financial barriers would enhance trade with target countries and reduce costs for exporters.
Iran's Expediency Council said last week it plans to establish a special committee to review the country's stance on the FATF after the issue was referred by Supreme Leader Ayatollah Seyyed Ali Khamenei, at the request of President Masoud Pezeshkian.