Iran proposes independent financial corridor for BRICS

Tehran - BORNA - Hemmati stated that developing financial cooperation within BRICS must move beyond general discussions to establish operational, secure, and sustainable infrastructure for cross-border payments and settlements.

The CBI governor noted that linking payment networks and expanding the use of national currencies would reduce reliance on financial channels outside the BRICS framework, while enhancing transaction speed, lowering costs, and improving security for trade among members.

Hemmati added that Iran has already initiated assessments of the technical, legal, and operational aspects of interconnecting payment systems among BRICS members and stands ready to assist in drafting an operational roadmap for the initiative.

The central bank chief also stated that pursuing Iran's membership in the BRICS New Development Bank (NDB) will pave the way for expanding project financing, investment cooperation, and economic ties across the bloc.

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