WANA (Oct 14) – The Governor of the Central Bank of Iran announced the country’s membership and shareholding in the newly established BRICS Development Bank, highlighting extensive financial and monetary cooperation between Iran and other member states.

 

Mohammad Reza Farzin, Governor of the Central Bank of Iran, announced on the sidelines of the second summit of BRICS central bank governors that Iran has been accepted as a member and shareholder in the BRICS New Development Bank. He stated, “The BRICS New Development Bank can play a key role in achieving the developmental goals of the member countries.”

 

Farzin also referred to recent financial and monetary agreements between Iran and Russia, noting, “During Iran’s tenure as BRICS secretary, we reached significant agreements with the Central Bank of Russia regarding the connection of card networks and the expansion of financial and monetary cooperation. These agreements were also discussed at the BRICS summit.”

 

He highlighted the importance of local currencies in trade among BRICS members, adding, “One of the main topics of this meeting was the development of payment systems based on local currencies, which received strong interest from China, Russia, and Iran.”

 

Farzin further emphasized, “As the World Bank operates primarily within the framework of U.S. and Western interests, the BRICS New Development Bank offers an independent and effective alternative for member countries. We are determined to become a shareholder and play an active role in this bank.”