Iran's Expediency Council approved the country's conditional accession to the Convention for the Suppression of the Financing of Terrorism (CFT), raising hopes for economic opening, Hamshahri Online reported on October 22.

The Expediency Council agreed to Iran's conditional accession to the CFT on October 1 after years of back-and-forth between the government, parliament, the Guardian Council and the council itself.

The conditional ratification is widely seen as a strategic maneuver to alleviate financial isolation without fully committing to FATF obligations, which require unconditional adherence.

The Pezeshkian government describes the decision as a step towards reducing Western pretexts, increasing financial transparency and opening new pathways for banking transactions.

From the government's perspective, implementing the conditions set by parliament and the Expediency Council ensures that national interests and security will be fully preserved in the accession process.

Critics and economic experts argue that joining the CFT offers no guarantee that Iran will be removed from the Financial Action Task Force (FATF) blacklist which it remains stuck on currently.

Reza Sepahvand, representative for Khorramabad, views joining the CFT as a necessary condition for Iran's return to the international financial network.

According to him, with the conditions approved by parliament and the Expediency Council, there are no security concerns, and not joining this convention has only increased banking transaction costs and caused the country to impose "self-sanctions".

Ebrahim Najafi, representative for Astaneh Ashrafieh, said interbank channels have been closed for Iranian traders because Iran is on the FATF blacklist.

Iranian traders are forced to bring part of their export currency earnings into the country in the form of raw materials or by suitcase.

He expressed hope that CFT approval will create openings in this area, adding that Iran has shown its good faith to the international community by approving the CFT.