Asian Clearing Union (ACU) will hold its 51st summit in Tehran on May 23-25, says an official from the Central Bank of Iran (CBI), amid efforts to expedite de-dollarization plans in the continent.
Deputy Governor of the Central Bank of Iran (CBI) for international affairs Mohsen Karimi said on Monday that there is a great potential for de-dollarization in the ACU.
Karimi said the secretariat of the ACU is based in the Central Bank of Iran, and it was decided in the previous meeting of the union that the Islamic Republic of Iran will host its 51st meeting.
He added that the new countries will apply for membership in the Union during the summit in Tehran.
The official said nine key members of the ACU will attend the summit in Tehran, including central bank governors of Russia, Belarus, Afghanistan as well as Islamic Development Bank officials.