Iran to join BRICS development bank in near future

During the BRICS summit in India, the Governor of the Central Bank of Iran (CBI), Abdolnaser Hemmati, announced that Iran will join the BRICS development bank in the near future. He praised India's presidency of the group and noted that good cooperation had begun between Iran and India in monetary, banking, and digital economy fields.

Hemmati stated that the BRICS summit provided the most important opportunity to meet officials from member states with which Iran has the greatest monetary and banking exchanges. He emphasized that Iran believed BRICS members could conduct trade with each other using national currencies, and that Tehran was pursuing bilateral and trilateral monetary cooperation with BRICS member states.

The announcement was made during the summit, which brought together leaders and officials from Brazil, Russia, India, China, and South Africa. Iran has been seeking closer economic ties with the bloc, and joining the development bank is seen as a step towards greater financial integration.

According to Mehr News Agency, the CBI chief's remarks highlight Iran's commitment to strengthening its economic relations with BRICS countries. The report added that Iran's participation in the bank could facilitate infrastructure and development projects, potentially benefiting the Iranian economy.