IRNA - Deputy Chairman of Majlis National Security and Foreign Policy Committee Kamal Dehqani Firouzabad said on Tuesday that the Islamic Republic of Iran approved joining the Financial Action Task Force (FATF).

Speaking to IRNA, he said experts from foreign ministry, Majlis and other relative organizations examined the bill carefully and put seal of approval for Iran to join the treaty.

Iran has set eight preconditions to join FATF treaty, he said.

In a very strong possibility the bill will be examined by parliament representatives on Wednesday, he said.

In June 2016, the FATF welcomed Iran’s high-level political commitment to address its strategic AML/CFT deficiencies and suspended countermeasures for a year. Given Iran's steps in the following year, the organization decided in November 2017 to continue the suspension of countermeasures.

However, Iran's deadline to fulfill its action plan with the FATF passed on Jan. 31 with a number of items remaining incomplete. Therefore the organization has now suspended countermeasures once more, advising Iran to fully address its remaining items.