TEHRAN, Aug 13 — Iran will soon become a member of the New Development Bank (NDB), the financial institution established by the BRICS group, Central Bank of Iran (CBI) Governor Abdolnaser Hemmati has said, highlighting efforts to expand monetary and banking cooperation among member states, the Islamic Republic News Agency (IRNA) reported.
Speaking in India while attending a BRICS meeting, Hemmati said on Tuesday that the establishment of the New Development Bank was the most important outcome of cooperation among BRICS countries and confirmed that Iran would join the institution in the near future.
He also welcomed India’s efforts during its BRICS presidency, saying cooperation among member states had expanded in monetary affairs, banking and the digital economy.
Hemmati described the BRICS meetings as an important opportunity for Iran to engage with officials from countries with which Tehran has significant monetary and banking exchanges.
He said BRICS members could expand trade using their national currencies and called for developing bilateral and trilateral monetary cooperation among member states.
Hemmati is leading a high-level delegation to India for the meeting of BRICS central bank governors, with the visit focused on expanding international financial cooperation and strengthening banking diplomacy.
The talks also address practical mechanisms to facilitate trade, reduce reliance on the dollar in regional settlements and increase the use of national currencies among BRICS members.
