TEHRAN – Iran’s Central Bank delegation at a BRICS finance summit in Brazil called for simplifying the admission process for new members to the New Development Bank (NDB), while emphasizing the bank’s role in financing infrastructure and sustainable development projects.

According to a statement from the Central Bank of Iran (CBI), the delegation, led by Deputy Governor Asghar Abolhasani, attended the third meeting of BRICS deputy finance ministers and central bank governors, as well as the first meeting of BRICS finance ministers and central bank chiefs under Brazil’s rotating presidency. The events were held on July 3 and 4 in Rio de Janeiro.

Representatives from BRICS countries—including Brazil, China, India, Russia, South Africa, Iran, the United Arab Emirates, Indonesia, and Ethiopia—delivered remarks focused on multilateralism, reducing reliance on unilateral systems, the development of an integrated payment system among members, climate change, and enhanced economic cooperation.

Iran’s delegation highlighted the Central Bank’s ongoing efforts to curb inflation and stabilize the national currency through coordinated monetary policy, despite the challenges posed by international sanctions. It also pointed to Iran’s sustained positive economic growth over recent quarters.

In its address, the Iranian delegation underscored the strategic role of BRICS as a major economic alliance and outlined Iran’s strengths, including abundant natural resources, a strategic geographical position, and a skilled labor force. It called for deeper financial, banking, and economic ties among BRICS nations, reduced dependence on traditional financial systems, and a more balanced global economy.

Tehran also reaffirmed its commitment to active participation in achieving BRICS goals, promoting the use of local currencies in trade to reduce dollar dependency and enhance financial sovereignty, and advancing integrated payment systems.

On the sidelines of the meetings, Iran held bilateral talks with finance and central bank officials from key countries to gain support for its membership in the NDB and to expand banking cooperation.

The BRICS leaders’ summit was held on July 5, with Iranian Foreign Minister Seyed Abbas Araghchi attending on behalf of Tehran.

EF/MA