Iran Prepares to Join the New Development Bank of BRICS
Economy
Iran plans to join the New Development Bank (NDB) of BRICS in the near future, Governor of the Central Bank of Iran Abdolnaser Hemmati said. He described membership in the bank as one of the key outcomes of Iran’s financial cooperation with BRICS countries.
“The most important outcome of cooperation among BRICS member states is the establishment of the New Development Bank, of which our country will soon become a member,” Hemmati said during BRICS-related events in India.
The Iranian central bank governor also said Tehran was seeking to expand bilateral and multilateral currency cooperation with other BRICS members.
The New Development Bank was established by the BRICS countries to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing economies. In June 2026, Uzbekistan became the NDB’s tenth member and the first Central Asian country to join the institution.
Iran became a BRICS member in 2024. Amid years of international sanctions, Tehran has advocated the development of alternative financial mechanisms and expanded use of national currencies in international settlements. Hemmati confirmed Iran’s intention to deepen such financial ties with BRICS countries.
At the same time, Iran is not yet listed as an NDB member on the bank’s official website. Hemmati’s statement therefore refers to Tehran’s plans to join the institution rather than an accession that has already been completed.
The Iranian central bank governor also said Tehran was seeking to expand bilateral and multilateral currency cooperation with other BRICS members.
The New Development Bank was established by the BRICS countries to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing economies. In June 2026, Uzbekistan became the NDB’s tenth member and the first Central Asian country to join the institution.
Iran became a BRICS member in 2024. Amid years of international sanctions, Tehran has advocated the development of alternative financial mechanisms and expanded use of national currencies in international settlements. Hemmati confirmed Iran’s intention to deepen such financial ties with BRICS countries.
At the same time, Iran is not yet listed as an NDB member on the bank’s official website. Hemmati’s statement therefore refers to Tehran’s plans to join the institution rather than an accession that has already been completed.
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