Iran determined to join BRICS New Development Bank

Iran is seriously determined to join the New Development Bank (NDB) of the BRICS group of the emerging economies, according to the chief of the Central Bank of Iran (CBI).

News ID: ۲۰۰۱۴۰۱

08 June 2025

Governor of the Central Bank of Iran (CBI) Mohammad Reza Farzin made the comments in a meeting with Head of BRICS New Development Bank Dilma Rousseff in Beijing capital of China on Friday.

During the meeting, the two sides emphasized the role of the BRICS New Development Bank in advancing the goals of developing countries and emerging economies.

In addition, Farzin and Rousseff stressed the approval of the establishment of the Shanghai Development Bank by the member states of the Shanghai Cooperation Organization (SCO), and pointed to Iran's role and membership in international and regional institutions such as the International Monetary Fund (IMF), the World Bank (WB) Group, the Islamic Development Bank (IDB), and the Asian Infrastructure Development Bank (AIDB).

As a member of the Board of Directors of the International Monetary Fund, the Islamic Republic of Iran chairs one of the eight-country groups in that institution.

Referring to Iran's favorable economic performance in the recent years, the CBI governor pointed to Iran's geographical, natural, and human capacities, as well as Iran's favorable relations and cooperation with the founding countries of the bank (India, South Africa, Russia, Brazil, and China), and announced Iran's readiness to further strengthen and increase monetary and banking relations and interactions with BRICS member countries within the framework of the New Development Bank.

Farzin invited Dilma Rousseff to attend the Asian Clearing Union (ACU) Summit which will be held in Tehran in the coming months.

The president of BRICS New Development Bank, for her part, pointed to Iran's economic power in the region and stated that Iran's positive economic indicators will certainly be effective in advancing the goals of the BRICS New Development Bank.

BRICS New Development Bank was established in 2014 in cooperation with Brazil, Russia, India, China and South Africa. The bank intends to mobilize resources for the implementation of infrastructure and sustainable development projects in the BRICS member countries through the allocation of loans, guarantees and other financial instruments. /Mehr