TEHRAN – The British embassy in Tehran on Friday welcomed the Financial Action Task Force’s decision to give Iran more time to complete its Action Plan.

“Strong European support for Iran’s efforts at FATF meeting. Full FATF compliance is essential for banks to do business with Iran,” the official Twitter account for the British embassy in Tehran announced.

The FATF said on Friday Iran had until February to complete reforms that would bring it into line with global norms or face consequences, adding it had decided to continue suspending counter-measures, which can go as far as limiting or even banning transactions with a country.

MH/PA