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.