TEHRAN, Oct. 13 (Xinhua) -- The approval of the UN convention of Combating the Financing of Terrorism (CFT) will improve Iran's international image and facilitate its economic interaction with the world, Reza Kami, chairman of Iran-Turkey Joint Chamber of Commerce, said on Saturday.

"Turkey is a member of this convention and it will facilitate our banking and financial relations," Kami was quoted as saying by Tehran Times daily.

He noted that transparency in financial interaction will encourage businessmen and investors.

Iranian lawmakers last Sunday approved a bill on Iran's accession to the CFT standards set by the Financial Action Task Force (FATF).

The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and threats to the integrity of the international financial system.

The FATF has set October as the deadline for Iran to complete reforms which would "bring it in line with global norms or face consequences."