Iran reaffirmed its intention to join the BRICS-backed New Development Bank (NDB) during a meeting between its central bank governor and NDB President Dilma Rousseff in Shanghai, the Central Bank of Iran (CBI) said on Saturday.
Mohammad Reza Farzin, governor of the CBI, held talks with Rousseff on the sidelines of a finance summit organized by the Shanghai Cooperation Organization (SCO), following his participation in a gathering of SCO finance ministers and central bank chiefs in Beijing.
Both sides underscored the NDB’s role in supporting developing and emerging economies.
Farzin cited Iran’s active presence in international financial institutions, including its seat on the Executive Board of the International Monetary Fund and leadership of a bloc of eight countries within the Fund. He also emphasized the country’s close ties with BRICS founding members – Brazil, Russia, India, China, and South Africa.
“Iran is ready to enhance its monetary and banking cooperation with BRICS countries within the NDB framework,” Farzin said, according to the CBI.
Rousseff, who served as president of Brazil from 2011 to 2016, welcomed Iran’s interest and economic potential, saying Tehran’s inclusion would align with the NDB’s mission to finance sustainable development projects in emerging markets.
She expressed support for Iran’s application and said she would maintain a favorable stance during upcoming BRICS deliberations on new membership.