CBI offers proposals to accelerate SCO Development Bank launch
Tehran has urged the accelerated establishment of the Shanghai Cooperation Organization (SCO) Development Bank, presenting technical and operational proposals during a key meeting in China to strengthen monetary cooperation among member states.
Abolfazl Koudehi, the deputy of international affairs at the Central Bank of Iran (CBI), made the remarks at the fourth consultative meeting on the bank's establishment, held over two days on Tuesday and Wednesday in Shenzhen, China, ISNA reported, citing the central bank.
The gathering, attended by representatives from SCO member and observer states, aimed to build synergy and advance the foundational stages of the development
bank.
According to the report, the specialized session focused on the technical and executive dimensions, as well as the necessary mechanisms for launching the financial institution, resulting in strategic decisions to expedite the process.
During the session, Koudehi outlined Tehran's approaches and presented operational proposals designed to enhance the bank's efficiency in facilitating economic interactions among member countries, emphasizing the country's active role in expanding monetary and banking ties.
The central bank noted that Tehran's active participation and provision of expert insights in the bank's formation process are aimed at fortifying monetary and banking cooperation within the SCO framework and leveraging its potential to expand economic relations.