BAKU, Azerbaijan, August 12. Iran advocates strengthening practical cooperation in the monetary and financial spheres among BRICS member countries.
This was announced by the country's Central Bank, citing Governor Abdolnaser Hemmati's statement at a meeting of economic officials and central bank governors from BRICS member countries in the Indian city of Jaipur.
“Close cooperation among BRICS member countries can play an important role in strengthening stability, trust, and sustainable development. BRICS will be more effective when political dialogue is transformed into practical initiatives and mechanisms for their implementation,” he said.
Hemmati noted that, given the complex regional and international situation, as well as military attacks against Iran, it is impossible to ensure economic and financial stability in the absence of compliance with the UN Charter, respect for international law, and peace.
The head of the Iranian Central Bank added that since Iran joined BRICS, the country’s Central Bank has been actively participating in meetings of the group’s special working groups, including those addressing cross-border payments, the use of national currencies, financial technologies, cybersecurity, artificial intelligence, and sustainable finance.
In addition, Hemmati emphasized that Iran supports initiatives aimed at reducing trade risks and costs among BRICS member countries, facilitating the use of national currencies, and establishing payment infrastructure.
“The New BRICS Development Bank is one of this group’s major achievements. Iran is ready to expand its ties with this organization and strengthen cooperation by becoming a member. BRICS can make an effective contribution to the formation of a more balanced, strong, and inclusive international financial architecture,” he noted.
Meanwhile, BRICS is an intergovernmental organization established in 2006. Currently, in addition to Russia, Brazil, India, China, and South Africa, the organization’s members include Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia.
