BRICS development bank backs Iran’s accession bid
Head of the BRICS’ New Development Bank (NDB) Dilma Rousseff announced her support for Iran's accession to the multilateral financial institution during a meeting with Central Bank of Iran (CBI) Governor Mohammadreza Farzin.
In a Friday meeting in Shanghai, Farzin and Rousseff discussed increasing monetary and banking interactions with BRICS member countries (Brazil, Russia, India, China, and South Africa), IRNA reported.
The meeting took place following the meeting of Central Bank governors and economy ministers of the Shanghai Cooperation Organization (SCO) in Beijing, China.
The two sides underscored the role of the BRICS New Development Bank in advancing the goals of developing and emerging economies.
Emphasizing the approval by SCO member states for the establishment of the Shanghai Development Bank, they also pointed to Iran's role and membership in international and regional institutions such as the International Monetary Fund, the World Bank Group, the Islamic Development Bank, and the Asian Infrastructure Investment Bank.
During the meeting Farzin also said, "The Islamic Republic of Iran, in addition to its presence on the Executive Board of the International Monetary Fund, chairs one of the groups comprising 8 countries within that institution."
The CBI head, highlighting Iran's favorable economic performance in recent years, referred to Iran's geographical, natural, and human capacities as well as its favorable relations and cooperation with the founding countries of the NDB (India, South Africa, Russia, Brazil, and China).
Farzin expressed Iran's readiness to further strengthen and enhance monetary and banking relations and interactions with BRICS member countries through the framework of the New Development Bank.
Rousseff also emphasized Iran's economic influence in the region and welcomed the presence of a country with a strong economy in the bank.
"Iran's positive economic indicators and the favorable advantages it possesses will certainly be effective in advancing the objectives of the BRICS New Development Bank," she said.
Farzin invited Rousseff to attend the Asian Clearing Union summit, which will be held in Tehran in the coming months.