Central Bank Governor: Iran to Join BRICS New Development Bank Soon

Abdolnasser Hemmati, governor of the Central Bank of Iran, said in the early hours of Wednesday, August 12, 2026 (21 Mordad 1405), that Iran will soon join the BRICS New Development Bank, calling it the bloc's most important achievement. He said monetary, banking and digital economy cooperation between Iran and India has already begun, and that BRICS summits offer an important opportunity to meet officials from member states with which Iran conducts the bulk of its monetary and banking exchanges. Hemmati added that Iran and other BRICS members are seeking to expand bilateral and trilateral monetary cooperation based on national currencies. The remarks came as Iran, under US sanctions, seeks to develop alternative financial and banking channels with its trading partners.