Iran took first step towards normalization

Following the signature of the Iran Nuclear Deal on July 14, 2015 between the P5+1 and Iran, expectations have grown about the potential opportunities offered by Iran’s economy and its 80 million consumers. Several days before US President Barack Obama defended the Deal as a necessary change of mindset and today’s best diplomatic solution available, the Iranian parliament – the Majlisratified the International Convention for the Suppression of the Financing of Terrorism bill which had been submitted as soon as April 2010.

Experts mandated by the Iranian government assessed the bill’s implications, particularly about anti-money laundering, and proposed amendments which were later validated by the Finance Ministry, the Central Bank and finally approved in Parliament on July 31, 2015. Now, the Guardian Council of the Constitution has yet to confirm the ratification before Iran can formally apply to membership of the Convention. The Majlis hopes this move will be interpreted as a gesture of goodwill and will help to withdraw the designation of Iran by the US government (USG) as one the last three State Sponsors of Terrorism.