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Iran approves anti-money laundering bill

08:54 PM | 5 Jan, 2019
Iran approves anti-money laundering bill
TEHRAN – An Iranian arbitration body gave its approval on Saturday to an anti-money laundering bill seen as crucial to maintaining international trade and banking ties, the official IRNA news agency reported.

"The bill on amending the law to counter money laundering was approved with certain changes and will be sent to the parliament speaker to be communicated to the government," Expediency Council member Gholamreza Mesbahi-Moghadam told IRNA.

The Expediency Council settles disputes between parliament, which approved the bill last year, and the Guardian Council, which vets all legislation and had rejected it.

Conservatives have argued that new legislation on money laundering and terrorist financing will provide Western powers with leverage over Iran's economy and how it funds regional allies.

But the government of President Hassan Rouhani says the laws are needed to meet demands set by the international Financial Action Task Force (FATF), which monitors countries' efforts to tackle financial crime.

Iran is alone with North Korea on the FATF's blacklist -- although the Paris-based organisation has suspended counter-measures since June 2017 while Iran works on reforms.

The FATF will meet again in February to discuss Iran's progress.

The government is hoping to salvage banking and trade ties after the United States walked out of a landmark 2015 nuclear deal between major powers and Iran and reimposed crippling unilateral sanctions.

The other parties to the deal -- Britain, France, Germany, China and Russia -- have sought to salvage the agreement and maintain trade with Iran, but have called on Tehran to meet FATF requirements.

The anti-money laundering bill is one of four pieces of legislation put forward by the government to that end.

A previous bill on the mechanics of monitoring and preventing terrorist financing was signed into law in August.

Two others -- allowing Iran to join UN conventions against terrorist-financing and organised crime -- have been approved by parliament but are still being delayed by higher authorities, including the Guardian Council.

Associated Press of Pakistan Corporation (APPC) - Pakistan's Premier News Agency


PKR rate against US Dollar, Euro, Pound, Riyal - Check 16 April forex rates

Pakistani currency gains momentum against all currencies on April 16, 2024 Tuesday. US dollar was being quoted at 277.9 for buying and 280.85 for selling.

Euro was quoted at 295 for buying and 298 for selling while British Pound stands at 345 for buying, and 349 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 15 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.9 280.85
Euro EUR 295 298
UK Pound Sterling GBP 345 349
U.A.E Dirham AED 75.45 76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76


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