Preventing economic criminals from exploiting unlicensed interest-free loan funds is on the agenda of the Financial Intelligence Center

At the second meeting of the "Specialized Working Group on Identifying High-Risk Transactions Related to Money Laundering, Terrorist Financing, and Associated Crimes," the management of threats and vulnerabilities arising from criminal exploitation of unlicensed interest-free loan funds (*Qard al-Hasan* funds) was examined; emphasis was placed on the necessity of synergy and coordination among supervisory, security, and law enforcement agencies in identifying suspicious behaviors and transactions within this sector.

At this meeting, hosted and organized by the Financial Intelligence Unit of the Ministry of Economic Affairs and Finance, Hadi Khani—Secretary of the Supreme Council for the Prevention and Combating of Money Laundering and Terrorist Financing—stated: "We are seriously concerned about the growing trend of channeling criminal activities related to money laundering and terrorist financing away from the country’s transparent monetary and financial system and toward unlicensed monetary and financial institutions that operate outside the oversight of the Central Bank and other responsible authorities."

He emphasized the need for supervisory, security, and law enforcement agencies to leverage their existing legal and infrastructural capacities in a coordinated and synergistic manner to monitor the country’s undocumented, underground economy, and to gradually bring it under control and integrate it into the nation's formal regulatory frameworks.

Highlighting the center's firm resolve to combat money laundering predicate offenses—such as the smuggling of goods, currency, and narcotics, as well as embezzlement, bribery, and tax evasion facilitated through opaque channels lacking systematic oversight—the Head of the Financial Intelligence Center urged *Qard al-Hasan* (interest-free loan) funds that have failed to obtain a Central Bank license for any reason to immediately prioritize securing such authorization; furthermore, he called upon them to cooperate with the Financial Intelligence Center in identifying high-risk behaviors associated with money laundering and terrorist financing while the licensing processes are being finalized.

Representatives of the agencies present at the meeting—while acknowledging the benevolent nature of interest-free loan funds that have not yet secured official authorization from the Central Bank—emphasized the necessity of preventing the emergence and proliferation of suspicious financial transactions arising from the lack of standard, continuous systemic oversight of these monetary and financial institutions.

Subsequently, practical experiences and strategies regarding the division of national responsibilities and the coordinated involvement of relevant agencies in addressing potential threats posed by unlicensed monetary and financial institutions were reviewed; it was further decided that the working group’s meetings would continue diligently and on a regular basis to review decisions and formulate new measures.

Representatives from the Headquarters for Combating Economic Corruption, the Headquarters for Combating the Smuggling of Goods and Currency, the Supreme Audit Court, the Ministry of Intelligence, the Ministry of Interior, the IRGC Intelligence Organization, the General Inspection Organization, and the Economic Security Police of the Law Enforcement Command (FARAJA) attended this meeting.