Executive By-Law on

Combating and Preventing Money Laundering and Terrorist Financing Offences

Chapter One – Definitions

1. Acceptance of deposits or other repayable funds from the public;
2. Lending or offering other banking services or operations;
3. Financial leasing or related services;
4. Money or value transfer services or financial services and the payment of a corresponding sum in cash or other forms by means of a communication, message, transfer, or through a clearing network;
5. Issuing and managing means of payment (e.g., credit and debit cards, cheques, traveler’s cheques, money orders, electronic money);
6. Financial guarantees and commitments;
7. Trading in:

1. Money market instruments (cheques, bills, certificates of deposit, derivatives, etc.);
2. Foreign exchange (Forex);
3. Exchange, interest rate and index instruments;
4. Securities;
5. Commodity futures trading;

8. Participation in securities issues and the provision of financial services related to such issues;
1.  Individual and collective portfolio management;
10. Safekeeping and administration of cash or liquid securities on behalf of other persons;
11. Otherwise investing, administering, or managing funds or money on behalf of other persons;
50. Life insurance-related services and other investment-related insurance services;
1000. Currency exchange operations (including the purchase and sale of foreign currency and coins, foreign-currency remittance operations carried out directly and/or through credit institutions, and the provision of cross-border foreign exchange services through agents, within the framework of foreign exchange laws and regulations) or services related to the exchange of money and currency.
14. Payment system services and fintech-based services.
15. Virtual asset services, including:

1. Exchange between virtual assets and Iranian Rials or other fiat currencies and vice versa.
2. Exchange between one or more forms of virtual assets;
3. Transfer of virtual assets;
4. Safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets;
5. Participation in and provision of financial services related to an issuer’s offer and/or sale of virtual assets.

6. Without Delay: Within one business day, provided that it does not exceed (48) hours.
7. Designated Non-Financial Businesses and Professions (DNFBPs):

1. Real estate agents and brokers;
2. Car dealers and brokers;
3. Dealers in gold, silver, and coins;
4. Dealers in precious metals and stones;
5. Dealers in antiques, art works, and high-value handicrafts;
6. Dealers in high-value handmade carpets;
7. Notaries and their deputies;
8. Independent accountants, certified auditors, and audit firms;
1. Lawyers, independent legal professionals, or legal professionals employed in law firms;
10. Other high-risk businesses and professions designated by the Council in line with paragraph (E) of article (1) of the Act.

8. Obliged Persons: The persons subject to articles (5) and (6) of the Act.
9. Supervisory Authorities: The supervisory authorities are as follows:

1. Financial sector supervisors include:

• Central Bank of the Islamic Republic of Iran;
• Central Insurance of the Islamic Republic of Iran;
• Securities and Exchange Organization.

2. DNFBPs supervisors include:

• Ministry of Industry, Mine, and Trade;
• State Organization for Registration of Deeds and Properties;
• Bar Associations and the Center for Lawyers, Official Experts, and Family Advisors of the Judiciary;
• Iranian Association of Certified Public Accountants.

3. other authorities and bodies designated by the Council, which pursuant to laws and regulations, entrusted with the responsibility to issue licenses for financial institutions and DNFBPs, supervising their compliance with AML/CFT regulations and effective implementation of related obligations, and exercising administrative or disciplinary sanctioning powers in case of non-compliance.

10. Supervised Obliged Persons: Any obliged person that, under the supervision of a supervisory authority, is responsible for implementing AML/CFT requirements.
11. Customer: Any natural or legal person (whether principal, attorney, or legal representative) seeking to receive services & benefits, transactions, asset transfers, credit facilities, or any economic and financial activities from obliged persons.
12. Suspicious Transactions and Activities: Any transaction, receipt, or payment of funds, whether physical or electronic, or attempted transaction, which reasonably raises suspicion of criminal activity based on circumstances such as value, subject, or parties involved, such as:

1. Financial transactions or operations of a customer that are meaningfully beyond the expected level of his/her activities;
2. The detection of forgery, false declarations, and/or false statements by the customer, before or after any transaction has occurred, and also at the time of obtaining basic services.
3. Financial transactions or operations that are revealed, in any way, that are fictitious or nominal, and the beneficial owner is another person.
4. Financial transactions or operations with one party located in high-risk jurisdictions (as far as AML/CFT is concerned)
5. Financial transactions and operations above the designated threshold; no matter whether the customer has withdrawn from conducting the transaction or operation before or during its execution, or, after the transaction is completed, cancels the contract with no logical reason.

13. Designated Threshold: The threshold amount prescribed under the Law on the Holding of Tenders, for conducting micro transactions, in the form of cash (Rial) or its equivalent in other currencies or precious commodities, as approved annually by the Cabinet pursuant to Note (1) to Article (3) of the Law on the Holding of Tenders.
14. Beneficial Owner: Any natural person(s) who is the ultimate owner or controls a customer, directly or indirectly, or on whose behalf a transaction or operation is being conducted. It also refers to those who exercise ultimate effective control over a legal person. It includes beneficiaries of life or other investment-related insurance, too.
15. Central Bank Payment Systems: Including CBI systems such as SATNA (Real-Time Gross Settlement System), SHETAB (The Iran National Interchange Card Payment Switch), PAYA (Automated Clearing House), and SHAPARAK (the Electronic Card Payment Network), through which macro and micro electronic payments in the banking system are being conducted.
16. High-Risk Jurisdictions: Countries and jurisdictions with higher ML/TF risks, as designated by the NRA working group.
17. Payment Service Provider (PSP): Any company licensed by the Central Bank of the Islamic Republic of Iran to provide payment services.
18. Watchlist: All persons whose names and particulars are designated by the Center for the purpose of monitoring their possible links to ML/TF activities, and whose names and particulars are communicated by the Center or the supervisory authority to the obliged persons under supervision.
19. Suspected Persons: Persons whose names and particulars are communicated by the Center to obliged persons due to suspicion of their links to ML/TF activities, so that the provisional measures set out in this By-Law may be applied to them in order to mitigate ML/TF risks.
20. Virtual Asset: A digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes. Virtual assets do not include digital representations of fiat currencies, securities, or other assets.
21. Deleted
22. Deleted
23. National Risk Assessment (NRA): A report in which, through the examination of existing vulnerabilities and threats across the main sectors, the risks of ML/TF in each sector are assessed, and measures and actions are adopted to control and mitigate the identified risks.
24. Main Sector: Including but not limited to the banking system, capital market, insurance market, DNFBPs, NPOs, currency exchange bureaus, and any other sector which, as determined by the NRA Working Group, are assessed as presenting high risks of ML/TF.
25. Business Relationship: Interaction between an obliged person and a customer at a specific geographic location for offering services or conducting transactions.
26. Customer Risk: The ML/TF risks arising from a customer, to which the obliged person is exposed due to factors such as the customer’s social and occupational position, financial status, type and nature of business, background, and country of origin.
27. Geographic Risk: The ML/TF risks to which the obliged person is exposed due to the geographical location where the business relationship takes place.
28. Product/Service Risk: The ML/TF risk to which the obliged person is exposed due to the type or the delivery channel through which a service or transaction is provided to a customer in a business relationship.
29. Basic Services: Services which, as per the related regulations, constitute prerequisites for providing other services by obliged persons, and then the customer refers to the obliged persons for the purpose of obtaining ongoing and frequent services.
30. Non-Basic Services: Any service other than those defined as Basic Services in paragraph (29) of this Article.
31. Cash: Any coin and banknote in circulation, and any type of cheque, whose transfer is undocumented and untraceable, including bearer cheques and other cheques whose holder is not the original beneficiary (such as cheques endorsed by third-party, cashier’s cheques, traveler’s cheques), as well as anonymous payment cards and similar instruments. Cash funds include both Rials and foreign currency.
32. Property: Every kind of assets, funds or economic resources, whether corporeal or incorporeal, tangible or intangible, movable or immovable, cash or non-cash, legitimate or illegitimate, and any financial interest or benefit and funds whether cash or non-cash, and all legal documents or instruments, both in paper or electronic ones such as commercial documents, shares, or securities, evidencing title to or interest in such assts.
33. Customer Due Diligence (CDD): The process of obtaining and reviewing customer information for identity verification and assessment of ML/TF risks on an on-going basis. CDD levels are simplified, normal, and enhanced due diligence.
34. Funds Aggregator: Any legal person engaged in aggregating payments from buyers to sellers, directly or in cooperation with payment service providers (PSPs) or financial institutions within the framework of national laws and regulations. Such entities receive card-not-present payments, including in-app and mobile/virtual infrastructure-based payments, and transmit them to the banking payment systems.
35. Correspondent Banking: The provision of banking services by one financial institution (correspondent financial institution) to another financial institution (respondent financial institution).
36. Shell Bank: A bank that has no physical presence in the jurisdiction in which it is licensed and registered and is not affiliated with a regulated financial group subject to effective consolidated supervision, and its mind and management are located in another jurisdiction. A shell bank has no physical presence other than a registered representative office. The agent only affords a place to conduct the legal issues of the bank in the said jurisdiction (countries and regions).
37. Payment Instrument: Any type of physical or virtual card, or any method or instrument made available by financial institutions to the holder, enabling the holder to receive, make a payment, or transfer of funds to another person.
38. Acceptance Device: A physical device or an electronic system through which, by using a payment instrument, one may proceed to perform receipt/payment, and/or funds transfer operations.
39. Acceptor: A person who, by accepting a bank card and by using an acceptance instrument, proceeds to sell goods and/or provide services to cardholders.
40. Payment Facilitator: A legal person duly registered in accordance with the laws and regulations of the Islamic Republic of Iran that operates, within the framework of the requirements, rules, and executive procedures governing the activities of payment facilitators and supported accepters in the national payment system, on the basis of a contract concluded with the SHAPARAK (the Electronic Card Payment Network).
41. Foreign Exchange Service Providers: All persons licensed by the Central Bank of the Islamic Republic of Iran to provide services relating to buying, selling, exchanging, and transferring domestic or cross-border funds or values in foreign currencies, such as currency exchange bureaus, banks, and the Iran Currency and Gold Exchange Center.
42. Deleted
43. Non-Profit Organizations (NPOs): Non-governmental persons and entities such as social associations, charities, NGOs, groups, associations, institutions, and organizations- regardless of their title- that engages in raising, providing, or disbursing funds or other assets for purposes such as charitable, religious, cultural, educational, scientific, social, medical, or fraternal activities.

Chapter Two – Assessing Risks and Applying a Risk-based Approach

1. Legal persons with unusual economic activity or complex ownership structures, or whose activities are inconsistent with their stated objectives or subject of activities as stipulated in the articles of association;
2. Persons whose economic and financial activities are inconsistent with the subject of their activities;
3. Institutions and companies suspected of operating as shell entities;
4. Business that are predominantly dealing in cash or quasi-cash instruments such as gold and precious metals as payment instrument;
5. Persons with prior convictions for ML/TF offenses.

1. take reasonable measures to establish the source and origin of funds involved in the business relationship;
2. Conduct enhanced and ongoing monitoring of transactions and operations to ensure there is consistency between the type and value of transactions and operations conducted with the information obtained under paragraph (a) of this Article;
3. Obtain senior management approval for establishing or continuing such high-risk business relationships.

1. parents, siblings, spouse, children, persons under guardianship or custodianship, children’s spouses, and grandchildren;
2. legal persons in which more than ten percent (10%) of the shares are owned by the persons referred to in this Article;
3. legal arrangements in which one of the parties is a person referred to in this Article;
4. shareholders holding more than ten percent (10%) of commercial companies in which the persons referred to in this Article hold more than ten percent (10%) ownership;
5. informal partners and persons who directly participate in the commercial or financial activities of the persons referred to in this Article;
6. contractual representatives of the persons referred to in this Article.

1. geographic areas such as custom zones, free trade zones, and certain border areas exposed to ML/TF risks;
2. countries identified as not having adequate AML/CFT systems;
3. countries identified as having high levels of corruption or criminal activity;
4. countries or areas identified as providing financing or support for terrorist acts, or countries where terrorist organizations operate.

Chapter Three – National Cooperation and Coordination

Article 16
The National Organization for Civil Registration shall, within six months after the approval of this By-Law, develop the Integrated Database of Identity Information of Iranian Natural Persons in such a manner that online and unrestricted inquiry into the latest basic identity information and their related persons is always made available to obliged persons.
Note 1: With respect to natural persons, the basic identity information items shall at minimum include the national identification number, first name and surname, father’s name, date of birth, life status, date of death, and the verified residential postal code; and the information items concerning related persons shall at minimum include the basic identity information items of first-degree relatives by blood or marriage, the type of relationship, the commencement date of the relationship, and the duration of its validity. Other required information shall be determined by the Center as deemed necessary.
Note 2: The National Organization for Civil Registration shall provide changes in the basic identity information of persons and the list of cancelled or suspended IDs, together with the date and reason for cancellation or suspension, on a daily basis to the supervised obliged persons.
Note 3: The Ministry of Health and Medical Education and the Legal Medicine Organization of Iran and their subordinate organizations and companies shall provide the necessary information for the implementation of this Article to the National Organization for Civil Registration on an online basis.
Note 4: The procedure for inquiring the address of Iranian natural persons shall be arranged in such a way by the National Organization for Civil Registration that upon submission of the national identification number, the corresponding postal code shall be provided. Furthermore, the National Organization for Civil Registration shall provide all necessary arrangements to require Iranian nationals to update their postal address pursuant to the Note to Article (3) of the Law on Mandatory Allocation of National Identification Number and Postal Code for All Iranian Nationals adopted in (1997).
Article 17
The Ministry of Information and Communications Technology shall, in cooperation with the Ministry of Interior, within one year after the approval of this By-Law, launch the Location-based Address System for natural and legal persons in such a manner that, while standardizing addresses, it enables obliged persons to inquire and display geographic location on a map in order to implement AML/CFT regulations.
Note: The National Organization for Civil Registration and the State Organization for Registration of Deeds and Properties shall provide the national identification number of natural persons and the national identifier of legal persons connected to each postal code, as well as the national cadastral map of properties, to the Ministry of Information and Communications Technology on an online basis.
Article 18
The Ministry of Industry, Mine and Trade shall, in cooperation with the Central Bank of the Islamic Republic of Iran, within one year after the approval of this By-Law, establish the possibility of system-based registration of transactions relating to gold, precious metals, precious stones, and antiques through the Comprehensive Trade System.
Article 19
The Ministry of Industry, Mine and Trade shall, in cooperation with the Ministry of Interior, the Islamic Republic of Iran Customs Administration, and the Iran Chamber of Guilds, within one year after the approval of this By-Law, establish the possibility of system-based registration of vehicle transactions as well as high-value carpets through the Comprehensive Trade System.
Note 1: The Ministry of Industry, Mine and Trade shall, within three months, determine and announce the indicators and criteria for identifying high-value carpets.
Note 2: After the establishment of the possibility of system-based registration in the System referred to in this Article, the allocation or replacement of vehicle license plates by the Law Enforcement Command of the Islamic Republic of Iran shall take place only after inquiry from this System and only if the vehicle transaction has been registered therein.
Note 3: The Islamic Republic of Iran Customs Administration and all domestic manufacturers of vehicles and high-value carpets shall provide all information relating to vehicles and high-value carpets, whether imported or domestically produced, in accordance with the requirements of the Ministry of Industry, Mine and Trade.
Note 4: The Comprehensive Trade System shall be established in such a manner that the chain of transfers of vehicles and the details of their transactions, including the amount and the parties to the transaction, are recorded in the System and that all persons have the possibility to register their transactions therein.
Article 20
The State Organization for Registration of Deeds and Properties shall, within six months after the approval of this By-Law, develop the Integrated Database of Identity Information of Iranian Legal Persons in such a way that online and unrestricted inquiry into the latest basic identity information, address, and related persons of such entities is always available to obliged persons.
Note 1: With respect to legal persons, the basic identity information items shall at minimum include the national identifier, name, type, registering authority, subject of activity, date of establishment, status (including active, dissolved, or liquidation completed), and the date of dissolution or completion of liquidation. Address information shall at minimum include the verified residential postal code of the head office. Information on related persons shall at minimum include the basic identity information items of managerial related persons (members of the board of directors, managing director, deputy managing director, chief financial officer, treasurer, auditor and similar positions) and ownership-related persons (strategic, major, and significant shareholders) of the legal person concerned, the type of relationship, the commencement date of the relationship, and the duration of its validity. Other required information items shall be determined by the Center as deemed necessary.
Note 2: The State Organization for Registration of Deeds and Properties shall provide changes in the basic identity information of legal persons and the list of cancelled ID (including dissolution and completion of liquidation), together with the date and reason for cancellation, to the supervisory authorities on a daily basis.
Note 3: The procedure for inquiring about related persons shall be arranged by the State Organization for Registration of Deeds and Properties in such a manner that, in addition to enabling inquiry into the list of all natural persons related to each legal person, it also enables inquiry into the list of all legal persons related to each natural person.
Note 4: The procedure for inquiring the address of legal persons shall be arranged by the State Organization for Registration of Deeds and Properties in such a manner that upon submission of the national identifier, the corresponding postal code shall be provided.
Article 21
The Ministry of Interior shall develop the Integrated Database of Identity Information of Foreign Natural and Legal Persons in such a manner that online and unrestricted inquiry into the latest basic identity information, address, and related persons is always available to obliged persons.
Note 1: The basic identity information items of foreign natural persons shall, as applicable, include the first name (Persian and Latin), surname (Persian and Latin), father’s name (Persian and Latin), mother’s name (Persian and Latin), grandfather’s name (Persian and Latin), date of birth and death, type of identification document, document number, date of issuance, date of expiry, country of birth, nationality, and gender. For legal persons, the basic identity information items shall include the name (Persian and Latin), nationality, country of registration, registration number, registration date, type of activity, type of ownership, type of company, address, and telephone number.
Note 2: The Ministry of Foreign Affairs, the Ministry of Health and Medical Education, the Ministry of Information and Communications Technology and their subordinate organizations and companies, the Ministry of Education, the Ministry of Cooperatives, Labour and Social Welfare, the Ministry of Economic Affairs and Finance, the Ministry of Industry, Mine and Trade, the Law Enforcement Command of the Islamic Republic of Iran, the Legal Medicine Organization, the National Organization for Civil Registration, the State Organization for Registration of Deeds and Properties, the Organizations of Free Trade-Industrial Zones and Special Economic Zones, and other relevant bodies shall, within six months after the approval of this By-Law and in accordance with the requirements of the law enforcement agencies, provide the Ministry of Interior with the necessary information for the implementation of this Article to the Ministry of Interior on an online and unrestricted basis.
Note 3: The database referred to in this Article shall be established in such a manner that searching is possible based on various IDs contained in valid identification documents.
Note 4: The Ministry of Interior shall provide changes in the basic identity information of foreign persons and the list of cancelled IDs, together with the date and reason for cancellation, to the supervisory authorities on a daily basis.
Note 5: With respect to those foreign nationals who obtained a foreign national number prior to the approval of this By-Law, the Ministry of Interior shall update their identity information within one year after the approval of this By-Law and, in the event that the basic identity information is not provided, shall suspend the foreign national number taking into account security considerations.
Note 6: Obliged persons shall, prior to issuing any valid identification document to foreign persons, submit the necessary information and inquire about the number. Valid identification documents for foreign persons shall be determined and announced by a working group composed of the Ministry of Intelligence, the Ministry of Interior, and the Ministry of Foreign Affairs.
Note 7: The Ministry of Foreign Affairs shall, without delay after issuing visas to foreign persons, provide visa-related information electronically and online to the Ministry of Interior.
Note 8: The Ministry of Interior shall, in cooperation with the Ministry of Intelligence, the Ministry of Foreign Affairs, and the Ministry of Information and Communications Technology, establish the possibility to identify foreign natural persons in person and collect biometric information prior to assigning the number, and shall provide the necessary arrangements for enabling identification of such persons on the basis of biometric information. Until biometric identification possibility is established for foreign persons, identification procedures shall be conducted in accordance with the existing procedures.
Note 9: The assignment of a number to the representations of international organizations, embassies, and other similar legal persons shall be carried out by the Ministry of Interior after approval by the Ministry of Intelligence and the Ministry of Foreign Affairs.
Article 22
The Ministry of Information and Communications Technology shall, within one year after the approval of this By-Law, in addition to establishing the National Mobile Telephone Number System, create the necessary infrastructure for assigning one mobile telephone number to each natural or legal person, whether Iranian or foreign, and provide online and unrestricted inquiry possibility for obliged persons.
Note: Obliged persons shall use the registered mobile telephone number for identifying customers and for establishing communication with persons (natural or legal, Iranian or foreign).
Article 23
The Ministry of Roads and Urban Development shall, in cooperation with the State Organization for Registration of Deeds and Properties, within six months after the approval of this By-Law, implement a Location-Based System for the Registration of Real Estate Transactions in the Country in such a manner that all natural and legal persons are able to register transactions relating to immovable property, whether such property has an official title deed or an unofficial document.
Note: All owners of immovable property with unofficial title deeds shall upload the evidentiary documents relating to their transactions to this system within six months after the system is implemented.
Article 24
The Law Enforcement Command of the Islamic Republic of Iran shall, within six months after the approval of this By-Law, develop the Integrated Database of Entry and Exit Information of Natural Persons at the Country’s Borders in such a manner that the status of individuals’ presence within the country, including the list of foreign nationals whose lawful period of stay in the country has expired, can always be inquired on a daily basis by the Center and law enforcement agencies.
Article 25
The State Organization for Registration of Deeds and Properties shall, within one year, develop the Integrated Database of Official Powers of Attorney in such a manner that online inquiry into their status is always available to obliged persons.
Note 1: The status of a power of attorney refers to the basic identity information items of the attorney and the principal, the type of power of attorney, and its period of validity.
Note 2: After the launch of this database, the provision of any new services and the continuation of previously provided services to customers by obliged persons shall be conditional upon the registration of the power of attorney in the said database.
Note 3: The State Organization for Registration of Deeds and Properties shall provide the list of those powers of attorney that have been cancelled or suspended for reasons other than the expiration of their validity period, together with the date and reason, to obliged persons on a daily basis.
Article 26
The Ministry of Cooperatives, Labour and Social Welfare shall, in cooperation with executive bodies, develop the Integrated Database of Occupational Information of Natural Persons, whether Iranian or Foreign, in such a manner that obliged persons may always inquire into the latest status of their occupational activity.
Note 1: The inquiry capability shall be arranged in such a way that, for each national identification number and for all occupational records of the individual, the information items including employment status (employed, unemployed, or retired), occupational category and title, average monthly income, date of issuance and period of validity of the occupational license, and the date of termination of occupational activity are determined as a result of the inquiry. Other required information items shall be as announced by the Center.
Note 2: The Social Security Organization and other relevant funds (with respect to the employment information of workers), the Administrative and Recruitment Affairs Organization of Iran (with respect to government employees), pension funds (with respect to retirees), the Ministry of Industry, Mine and Trade (with respect to guild business licenses, licenses of industrial, mining and production units, and holders of commercial cards), the Engineering Organization of Iran (with respect to engineers’ professional licenses), the Islamic Republic of Iran Medical Council (with respect to medical practice licenses), and the Securities and Exchange Organization (with respect to trading identifiers of persons), as well as their subordinate organizations and companies, shall provide the necessary information for the implementation of this Article to the Ministry of Cooperatives, Labour and Social Welfare on a monthly basis.
Note 3: The Ministry of Cooperatives, Labour and Social Welfare shall, in cooperation with the National Tax Administration, identify the occupational relationships among persons in such a way that the Center and the Central Bank of the Islamic Republic of Iran are always able to inquire into the occupational related persons of the concerned persons.
Article 27
The National Tax Administration shall provide, on a quarterly basis, all tax returns of natural and legal persons and the latest status of taxpayers’ tax files to obliged persons.
Note 1: The National Tax Administration shall use the information contained in the Integrated Occupational Information Database referred to in Article (26) of this By-Law, within the framework of Clause (e) of Article (169) bis of the Direct Taxes Law, as tax indicators for the assessment of taxpayers’ taxes.
Note 2: The National Tax Administration shall establish the Intelligent and Standardized Database of Persons Committing Tax Crimes, referred to in Article (274) of the Direct Taxes Law, and tax debtors in accordance with the rules announced by the Council and provide online access to this list for the Center, the supervisory authorities, the law enforcement agencies, and the credit rating company referred to in Articles (5) and (8) of the Law on Facilitating the Granting of Bank Facilities and Reducing Project Implementation Costs and Accelerating the Implementation of Production Projects and Increasing Financial Resources and Efficiency of Banks, adopted in (2007). The National Tax Administration shall update the information relating to the list of these persons on a daily basis.
Note 3: The National Tax Administration shall make the issuance of tax clearance certificates for any real estate conditional upon the registration of its transaction in the system referred to in Article (23) of this By-Law.
Article 27 (bis)
The Securities and Exchange Organization shall, within three months from the date of promulgation of this By-Law, provide the Center and the supervisory authorities with online and unrestricted access to information on the stock portfolios and records of assets and transactions of all persons in the capital market, and shall establish access for obliged persons in compliance with Article (35) of this By-Law.
Article 28
For the purpose of facilitating access to customer’s information and verifying the accuracy of documents and information submitted by persons, the supervisory authorities shall undertake the necessary follow-ups and cooperations in order to enable the supervised obliged persons to access the information required for the implementation of the provisions of this By-Law. This provision shall not negate the responsibility of supervised obliged persons to comply with the provisions of the By-Law.
Article 29
The Central Bank of the Islamic Republic of Iran shall, within six months after the approval of this By-Law, establish a System for Identifying Relationships among Persons, in cooperation with obliged persons and in accordance with the request of the Center, and shall provide inquiry possibility to the Center and other supervisory authorities.
Note 1: Identification of relationships among persons refers to the identification of persons who have with each other relationships of guarantee (including facilities and commitments), partnership (including partnership in occupational activities and joint accounts), facilities and commitments (guarantors), agency, and kinship by marriage or blood, or who, according to the declarations of customers, have a relationship with one another.
Note 2: Obliged persons including the National Organization for Civil Registration, the State Organization for Registration of Deeds and Properties, the Securities and Exchange Organization, the National Tax Administration, the Ministry of Intelligence, and the Ministry of Cooperatives, Labour and Social Welfare shall provide the necessary information required by the Central Bank of the Islamic Republic of Iran for the implementation of this Article.
Article 30
The Iranian Association of Certified Public Accountants shall provide obliged persons with online and unrestricted inquiry possibility for audited financial statements and their annexes, audit reports, statutory auditor reports, and other reports attached to financial statements.
Article 31
The Judiciary shall, in cooperation with the Center, within six months after the approval of this By-Law, establish the necessary system-based procedures and solutions for the online exchange of judicial information concerning persons suspected of committing ML/TF in such a way that it enables the Center to submit requests to the relevant judicial authority to obtain the necessary judicial orders, including orders for seizure or lifting the seizure, notification to law enforcement agencies, and the system-based notification of decisions issued by the judicial authority, including judgments and rulings, to the Center and the relevant obliged persons.
Article 32
Judicial authorities shall notify the Center of the outcome of their proceedings in cases brought to the judiciary on the basis of reports submitted by the Center, whether such outcome is in the form of an order or a judgment.
Note 1: Judicial decisions issued by the aforementioned authorities shall be used by the Center for the preparation of appropriate statistics for the development of the National Risk Assessment document, for the standardization of indicators used in identifying suspected cases of ML/TF, and, where appropriate, for providing feedback to obliged persons in order to correct procedures and ensure compliance with laws relating to such offences within their subordinate bodies.
Note 2: The Judiciary shall annually report to the Council the overall statistics of cases filed and concluded in the field of combating ML/TF, in addition to the cases referred by the Center.
Article 33
The Judiciary, in cooperation with the Center, shall establish a mechanism whereby final conviction judgments issued in relation to ML, in accordance with Article (36) of the Islamic Penal Code (adopted on 21 April 2013), in addition to publication in one widely circulated newspaper, are also communicated electronically by the Center to the obliged persons subject to the Law.
Article 34
Obliged persons and supervisory authorities shall, in compliance with the Act and the National Data and Information Management Law adopted in (2022) as amended, while establishing online and unrestricted access for the Center to the systems created pursuant to this By-Law, provide other information and systems required by the Center, upon its request and in accordance with the formats and data items specified by the Center, through web services. The Center shall prepare, every six months, a report on access to data items, measures taken, the manner of cooperation of the said entities, as well as the challenges, vulnerabilities, and necessary proposed measures, and submit it to the Council.
Note: With respect to existing systems, access for the Center shall be provided within three months after the approval of this By-Law.
Article 35
All information provided to obliged persons pursuant to this By-Law shall be delivered solely through the National Information Exchange Center referred to in Note (2) of Clause (e) of Article (67) of the Sixth Development Plan Law and for the purpose of implementing AML/CFT regulations. Obliged persons shall ensure the security of information production and exchange in accordance with the rules issued by the Presidential Strategic Management Center of AFTA (Security of the Information Exchange Space) and obtain the necessary authorizations. Other rules governing the provision of this information, including considerations such as the determination of inquiry fees and the access level of each obliged person, shall be determined by the Center and approved by the Council.
Note: Access to the information referred to in the Articles of this By-Law and the level of access of each obliged person, taking into account the nature of its activities and organizational structure, shall be determined by a directive to be issued by the Center within three months after the approval of this By-Law and approved by the Council.
Article 36
Obliged persons shall, taking into account their organizational structure, the nature of their activities, the complexity associated with such activities, and the relevant risks, utilize adequate, comprehensive, and efficient system-based solutions for the implementation of the provisions of this By-Law.
Note: If supervised obliged persons, due to their particular circumstances, are unable to use information-technology-based methods, they shall select an efficient alternative method and obtain the approval of the relevant supervisory authorities.

Chapter Four – Supervisory Structure and Procedures

1. Monitoring customer activities and related financial institutions to identify suspicious transactions.
2. Reviewing, analyzing, prioritizing, and commenting on reports sent by employees of the related entity.
3. Immediate submission of the said reports in the form and mechanism specified by the Center without informing the customer.
4. Preparing necessary software for facilitating rapid access to the required information for implementing the Act and regulations and system‑based identification of suspicious transactions.
5. Designing mechanisms required for prioritizing, monitoring, and controlling AML/CFT processes (the processes of collecting & analyzing data, recruitment of human resources, training, etc.) and evaluating and auditing their implementation in the related entity.
6. Providing supplementary information required by the Center and other AML/CFT competent authorities.
7. Issuing circulars regarding the implementation of AML/CFT Act and regulations for subordinate entities.
8. Inspecting and monitoring the subordinate units to ensure full implementation of AML/CFT laws and regulations.
9. Preparing statistics and reports regarding the measures taken by the subordinate entities to implement AML/CFT regulations, as well as the results of such measures.
10. Referring case files of persons subject to Note (3) of Article (4) of the Act to administrative and judicial authorities and notifying the Center.
11. Keeping records and reports of the correspondence of the subordinate entity regarding ML/TF cases.
12. Preparing annual programs for the implementation of AML/CFT regulations and monthly monitoring of their execution.
13. Preparing training programs based on the type of activity regarding the subject of this Act.
14. Reviewing and aligning the financial institution’s internal rules with AML/CFT regulations and providing proper feedback and taking necessary measures for correcting deficiencies.
15. Performing other duties assigned by the Center within the framework of the provisions of the Act.

1. Establish an appropriate organizational structure, at a minimum at the Directorate-General level, by utilizing the existing institutional capacities of the entities, in compliance with Article (105) of the Seventh Five-Year Development Plan of the Islamic Republic of Iran (2024), together with qualified human resources, adequate facilities, powers, budgetary allocations, and sufficient infrastructure necessary to carry out the full range of supervisory measures relating to AML/CFT. Such arrangements shall be revised in accordance with the feedback issued by the Council.
2. Develop risk-based supervisory programs, including both on-site and off-site methods, for the purpose of ensuring that financial institutions within their authority comply with AML/CFT requirements, and implement such programs following the approval by the Center.
3. Exercise supervision over financial institutions within their authority with respect to compliance with AML/CFT laws and regulations.
4. In case of failure of financial institutions to comply with AML/CFT laws and regulations, implement supervisory directives and programs promulgated, or refrain from cooperating to implement the mentioned programs, supervisors shall impose, within their administrative and disciplinary proceedings, the financial sanctions mentioned in Articles (23) and (25) of the Central Bank of the Islamic Republic of Iran Act (2023), the Securities Market of the Islamic Republic of Iran Act (2005), along with its amendments and supplements, Article (14) of the Law for the Development of New Financial Instruments and Institutions to Facilitate the Implementation of the General Policies of Article (44) of the Constitution (2009), along with its amendments and supplements, the Establishment of the Central Insurance of Iran and Insurance Operations Act (1971), along with its amendments and supplements, and other relevant laws, regulations, by-laws, and directives. Where necessary, the supervisory authority shall, within the framework of the aforementioned laws and regulations, revoke, restrict, or suspend the license of the financial institution.
5. In case of failure to implement AML/CFT regulations, impose restrictions or prohibitions on the supervised financial institution to provide services.
6. Submit semi-annual reports to the Center containing the implementation status of supervisory programs, statistics on identified non-compliance cases disaggregated by main sectors and statutory obligations, administrative or judicial proceedings undertaken, sanctions imposed, assessments of the effectiveness of measures taken, identified vulnerabilities, together with appropriate recommendations.

1. Obtain a clean criminal record certificate, a written commitment to comply with AML/CFT requirements, and a valid AML/CFT training certificate for individuals appointed to the positions of Chief Executive Officer, member of the Board of Directors, member of the Executive Board, and Deputy Chief Executive Officer within financial institutions, as well as the owners of DNFBPs.
2. Ensure that persons with criminal conviction records do not become significant shareholders or controlling shareholders in financial institutions, nor otherwise become beneficial owners of a substantial portion of shares or controlling interest, nor have acquired such position through other persons in any way.
3. Verify the lawful origin of capital funded through shareholders’ equity contributions for the establishment of a financial institution or for any capital increase.
4. Confirm the adequacy of the organizational structure, powers, resources, access rights, and facilities allocated to AML/CFT functions within financial institutions.

Chapter Five – Customer Due Diligence

1. Reducing the frequency of updating customer identification information,
2. Reducing the degree of ongoing monitoring and scrutinizing transactions based on the customer’s expected level of activity,
3. Not collecting precise and detailed information, or undertaking specific measures to understand the purpose and intended nature of business relationships, in cases where the purpose and nature of transactions are inferable from the type of transactions or the established business relationships.

1. Providing basic services (including account opening, etc.),
2. Providing non-basic services and establishing business relations with occasional customers for transactions above the applicable designated threshold, including situations where the transaction is carried out in a single operation or in several operations that appear to be linked,
3. Carrying out cross-border wire transfers,
4. There is suspicion of ML/TF,
5. There are doubts about the veracity or adequacy of previously obtained customer identification data,
6. There are grounds indicating a change in the customer’s status and information during the course of monitoring procedures.

1. Verifying the identity of the customer solely on the basis of reliable and independent source documents and obtaining valid identification documents,
2. Ensuring the identification of the beneficial owner based on reliable information and documentation,
3. Understanding the nature, purpose, and level of the customer’s activity in the course of establishing a business relationship,
4. Examining the supporting documents of persons who, under any title (including guardian, executor, custodian, attorney, and representative of a legal person), have approached financial institutions on behalf of other persons, in addition to conducting identification and verification procedures in respect of such persons,
5. Conducting ongoing due diligence by undertaking appropriate measures such as ensuring that data or information collected under the CDD measures are kept up to date, conducting ongoing monitoring of the customer based on the customer’s expected level of activity, and ensuring that the transactions conducted are consistent with the information obtained from the customer,
6. Collecting and keeping information relating to the assessment of the risk of business relationships.

1. Identifying and verifying the identity of the customer and obtaining identity information, including first name and surname, year of birth, national identification number, father’s name, life status, and, if deceased, the date thereof, residential postal code, by obtaining valid identification documents and records,
2. Undertaking appropriate measures (such as obtaining a written declaration and commitment as to the accuracy of statements) to determine whether the customer is acting on his or her own behalf or on behalf of another beneficial owner, and where a beneficial owner exists, obtaining the identity information of the beneficial owner in accordance with the provisions of this Article,
3. Economic information including occupational information (such as employer/organization/institution details in respect of employees and workers and the title of occupational activity and business license number in respect of self-employed persons), an estimate of annual income, an estimate of the aggregate annual amounts of deposits and withdrawals from the account, an estimate of the maximum amount of each transaction, information on other sources of income (such as securities exchange trading code, real estate lease tracking code), the report of the inspector and certified auditor (where the customer is required to have an inspector or certified auditor), tax return and economic code (where available).

1. Identifying and verifying the identity of the customer and obtaining identity information including first name and surname, father’s name, grandfather’s name, specific identification number, date and place of birth, life status and date of death, residency status and date of entry into the country, residential postal code, type of identification document, validity period of identification documents, nationality, by obtaining valid identification documents and records,
2. Undertaking appropriate measures (such as obtaining a written declaration and commitment as to the accuracy of statements) to determine whether the customer is acting on his or her own behalf or on behalf of another beneficial owner, and where a beneficial owner exists, obtaining the identity information of the beneficial owner in accordance with the provisions of this Article,
3. Economic information including occupational information and work permit obtained from the Ministry of Cooperatives, Labour and Social Welfare (such as employer/organization/institution details in respect of employees and workers and the title of occupational activity and business license number in respect of self-employed persons), an estimate of annual income, an estimate of the aggregate annual amounts of deposits and withdrawals from the account, an estimate of the maximum amount of each transaction, information on other sources of income (such as securities exchange trading code, real estate lease tracking code), the report of the inspector and certified auditor (where the customer is required to have an inspector or certified auditor), tax return and economic code (where available).

1. Identifying and verifying the identity of the customer and obtaining the following identity information by receiving documents and records:

1. national identifier, name of the legal person, legal form (commercial or non-commercial/for-profit or non-profit/governmental or non-governmental/in the case of commercial companies, the type thereof including limited liability, public joint stock, private joint stock, and etc.), registering authority (including Companies and Non-commercial Institutions Registration office, Ministry of Interior, and the like), date of establishment, current existence (including active, dissolved and liquidated) and date of dissolution/liquidation, based on valid documents and records proving the current existence of the legal person such as the articles of association and partnership agreement;
2. ownership structure and control structure of the customer, including information on major shareholders, members of the board of directors, senior executive managers, and, as applicable, inspectors or auditors, based on the regulations governing the legal person and pursuant to which they are regulated and supervised (such as the articles of association);
3. verified address and postal code of the registered office and principal place of business, based on valid documents and records evidencing the existence of the legal person.

2. Identifying and verifying the identity of the beneficial owner of legal persons based on the obtained identity information of the following persons:

1. natural persons or that group of legal persons who directly or indirectly own at least twenty-five (25) percent of the legal person or hold one managerial seat on the board of directors of the legal person shall be recognized as the beneficial owner;
2. persons who exercise control over legal person through other means, such as a power of attorney, in cases of doubt as to paragraph (a) or where no natural person is identified who exerts control over legal persons through ownership interests;
3. persons who hold the position of senior managing officials of the legal person where paragraphs (a) and (b) are not fulfilled.

3. Understanding the subject matter, nature and level of the customer’s activity by obtaining information such as field of activity (such as manufacturing and trading), estimates of sources of income such as income derived from investment and sale of products, estimates of sales, costs and income, estimates of exports and imports, estimates of expected annual account turnover and expected annual number of transactions, based on valid documents and records including but not limited to the legal person’s business license (certificate of incorporation, business license, operation permit, commercial card and Electronic Trust Symbol License), the latest tax return and/or one of the reports annexed to the financial statements that can be inquired from the Iranian Association of Certified Public Accountants.

1. Identifying beneficiaries who are specifically named in the insurance policy (whether natural or legal persons);
2. Identifying beneficiaries whose names are designated by characteristics or by class (such as spouse or children at the time that the insured event occurs) or by other legal means (such as a will), sufficient information concerning the beneficiary must be obtained so that the insurance company is satisfied that, it will be able to establish the identity of the beneficiary at the time of payout.

1. Imposing restrictions on the provision of services in respect of all payment devices of the customer;
2. Making the execution of all banking transactions and operations conditional upon the customer’s in-person appearance before the financial institution, stating the purpose in the relevant forms, and providing supporting documentation.

1. Conducting normal CDD measures prior to providing safe deposit box and post office box services;
2. Establishing an integrated system for collecting information of safe deposit box customers (including identification information of the renter(s) and information relating to powers of attorney and representation), in such a manner that the said system can promptly provide the information required by competent authorities within the framework of relevant laws and regulations;
3. Recording the time of all customer visits for the use of the safe deposit box, in such a manner that visits relating to each customer can be systematically noticeable and reportable;
4. Where there is strong ML/TF suspicion of the customer and the keeping of proceeds thereof in the safe deposit box, the financial institution shall report the case without delay to the Center and refrain from providing the said service to the customer until receipt of the Center’s instruction, for a maximum period of twenty-four (24) hours.

1. That customers shall provide the information requested by financial institutions as specified in this By-law and shall cooperate with financial institutions in obtaining and updating the information subject to the Act and this By-law;
2. That customers shall not permit other persons, other than themselves, to use the received basic services and, if they become aware of such use by other persons, shall immediately notify the financial institution; statutory cases (including guardianship, executorship, custodianship, power of attorney, and representation of a legal person), provided that the representative’s details are recorded and appropriate due diligence procedures are carried out, shall not be subject to this paragraph;
3. That necessary undertakings shall be obtained regarding compliance with AML/CFT regulations and non-use of the received services for ML/TF purposes.

1. Obtaining additional information on the customer, such as economic activity and volume of assets, and updating the customer’s profile information, including beneficial ownership information, at shorter intervals;
2. Obtaining additional information on the intended nature of the business relationship;
3. Obtaining information on the source of funds or source of wealth of the customer;
4. Obtaining information on the reasons for transactions with high amounts;
5. Obtaining the approval of senior management to commence or continue the business relationship;
6. Conducting inquiries from required information systems and/or comprehensive databases;
7. Increasing the degree of control and monitoring by increasing control checkpoints, increasing the number of obtaining and reviewing business relationship information, and determining and identifying patterns of transactions requiring further examination;
8. Commencing service provision to a newly opened account only after receipt of funds from an account in the customer’s name with a bank subject to acceptable CDD standards.

Chapter Six – Wire Transfer and Correspondent Banking Relationship

1. The country or jurisdiction in which the respondent bank is located;
2. Gathering sufficient information about the respondent bank to fully understand the nature of the respondent’s business and its target market, and determining the bank’s reputation from publicly available information;
3. The quality of supervision over the bank, including whether it has been subject to ML/TF investigation or other regulatory action;
4. The financial group to which the respondent bank belongs and the country and jurisdiction in which the branches and subsidiaries of the group are located;
5. Information regarding the management and ownership of the respondent bank (particularly the existence of beneficial owners or politically exposed persons (PEPs));
6. The purpose of the services to be provided to the respondent bank;
7. The situation and quality of banking regulation and supervision in the country of the respondent bank (particularly AML/CFT laws);
8. The policies and procedures for the prevention and detection of ML/TF in the respondent bank, including that bank’s CDD measures;
9. The ability to verify the identity of third parties that are authorized to use the services of the financial institution as a correspondent bank;
10. An assessment of the respondent bank’s AML/CFT controls.

1. Conduct CDD on the customers having direct access to accounts of the correspondent bank;
2. Is able to provide the institution with the customer information obtained in the course of the CDD process upon request of the financial institution.

1. Originator information including first name and surname, national identification number/national identifier/specific identification number for foreign nationals, SHAHAB number (Card-based Electronic Fund Transfer System), date and place of birth, address, and the account number through which the wire transfer is conducted;
2. 2Beneficiary information including first name and surname/company name, name of the bank, and the account number (destination account).

1. Originator information including first name and surname, national identification number/national identifier/specific identification number for foreign nationals, SHAHAB number, address, and the account number/IBAN of the account through which the transaction is conducted;
2. Beneficiary information including first name and surname, account number/IBAN (destination account).

1. Originator information including first name and surname, national identification number/national identifier/specific identification number for foreign nationals, SHAHAB number, date and place of birth, address, and account number (the account through which the transaction is conducted);
2. Beneficiary information including first name and surname, national identification number/national identifier/specific identification number for foreign nationals, SHAHAB number, date and place of birth, address, and account number (destination account).

1. A copy of the economic activity license (e.g., business permit) evidencing authorization to conduct the relevant business activity, and, in the case of a legal entity, its registration documents, after verification against the original documents and licenses.
2. The full address and postal code corresponding to the documents referred to in paragraph (1) of this Article, which must match the installation location of the acceptance device;
3. The authorized account number linked to the acceptance device, whose holder’s details must correspond to those of the acceptor;
4. Any additional information as required by the Central Bank of the Islamic Republic of Iran.

1. Information relating to the acceptor’s Electronic Trust Symbol (e-Namad) license or the business permit, subject to Article (87) of the Law on the Guild System of the Country (enacted in 2003) and its subsequent amendments;
2. The full address and postal code of the acceptor’s place of business and presence (office or location where virtual processing equipment or systems are installed in accordance with the business license or legal entity registration documents), which must correspond to the address declared in the Electronic Trust Symbol and shall be field-verified by virtual PSPs;
3. The acceptor’s precise website address and identification details, as well as the identity and address of the website host;
4. The authorized account number linked to the acceptance device, whose holder’s details must correspond to those of the acceptor;
5. Any additional information as required by the Central Bank of the Islamic Republic of Iran.

1. The individual threshold for each financial transaction.
2. The monthly threshold for each acceptance device.

Chapter Seven – Money or Value Transfer Services

Chapter Eight – Cash Couriers (Physical Cross-Border Transportation of Currency, Bank Instruments, and Bearer Negotiable Instruments)

Chapter Nine – Confiscation and Provisional Measures

Chapter Ten – Reporting

Chapter Eleven – Record-Keeping

1. Documents, records, and information obtained through the CDD measure, whether simplified, normal, or enhanced, including copies of documents evidencing the identity of the customer and the beneficial owner;
2. Documents, records, and information relating to account files and business correspondence;
3. Documents, records, and information relating to transactions and financial operations, whether domestic or international, in such a manner that such records contain sufficient information on assets (including the amounts and, where applicable, the types of currency involved in each transaction) and enable the reconstruction of individual transaction process and the provision of sufficient information, documents, and evidence for the prosecution of criminal activity.

Chapter Twelve – Guidance and Training

Chapter Thirteen – New Technologies

Chapter Fourteen – DNFBPs & NPOs

1. Real estate agents and brokers- when they are involved in transactions for their clients concerning the buying, selling or leasing of real estate;
2. Dealers in cars, gold, silver, coins, precious metals, precious stones, antiques, art works and high-value handicrafts, and high-value handmade carpets- when they engage in any transaction with a customer in cash or by barter, exceeding the designated threshold;
3. Notaries and their deputies, independent accountants and certified auditors and audit firms, lawyers, independent legal professionals or legal professionals employed in legal firms- when they prepare for or carry out transactions for their client concerning the following activities:

1. buying and selling of real estate;
2. managing of client money or other assets;
3. management of bank and savings or securities accounts;
4. organization of contributions for the creation, operation, or management of civil and commercial companies;
5. creation, operation, or management of legal persons or arrangements, and buying and selling of companies, institutions, and business entities.

1. Electronic processing of the creation procedure of NPOs;
2. Uploading of the articles of association and activity licenses of NPOs;
3. Risk assessment of NPOs;
4. Recording of identity, economic, and geo-referenced information of donors and beneficiaries;
5. Retention and public disclosure of financial statements;
6. Recording and public disclosure of bank accounts information of NPOs;
7. Recording of data related to international assistance and corresponding commitments;
8. Receipt of public reports regarding breaches by NPOs;
9. Creation of NPOs profiles;
10. Recording of data concerning founders and directors of NPOs, including members of boards of trustees, boards of directors, managing directors, and other managers;
11. Recording and public disclosure of all revenues and expenditures, disaggregated by revenue and expenditure categories;
12. Recording of all properties and assets of NPOs;
13. Exchange of information between supervisory authorities and NPOs.

1. Written warning with entry in the file;
2. Temporary suspension of the permit or license until fulfillment of the relevant obligations;
3. Prohibition from receiving assistance and services provided by governmental bodies and authorities;
4. Non-renewal of the permit or license;
5. Revocation of the permit or license.

Chapter Fifteen – Miscellaneous