BAKU, Azerbaijan, May 13. Iran is set to become a member of the BRICS New Development Bank (NDB), said Mohammad Reza Farzin, the governor of the Central Bank of Iran (CBI), Trend reports.
Speaking today at a press briefing in Tehran, following the launch of the second phase of banking relations between Iran and Russia, Farzin explained that discussions have already begun with BRICS member countries, including India, South Africa, and China, on this matter.
Farzin further added that Iran's banking relations with BRICS countries have been ongoing for over three years.
"Banking projects are currently underway between Iran and Russia, with the steps taken in their bilateral financial cooperation proceeding independently of Iran’s ongoing discussions with BRICS," he added.
BRICS is an intergovernmental organization established in 2006. Besides Russia, Brazil, India, China, and South Africa, Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia are also members of the organization.
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