00:00Now, Iran is set to join the new development bank established by the BRICS Group,
00:04says Iran's central bank governor, Abdul Nasser Hemati.
00:08He made an announcement ahead of a BRICS finance meeting in India,
00:11where he is leading a high-level delegation focused on expanding financial cooperation.
00:18Iran joined BRICS in 2024 and has since pushed to become a member and shareholder of the new development bank.
00:25The bank was established by the group in 2015 to finance infrastructure and sustainable development projects.
00:31Its membership is open to all United Nations member countries, to both borrowing and non-borrowing nations.
00:37Iran's membership would give Tehran greater access to alternative financial channels,
00:42as it remains under sweeping U.S. and international sanctions.
00:46BRICS members have also sought to reduce their reliance on the U.S. dollar
00:50by promoting trade and financial transactions in national currencies.
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