11:26 GMT +3 hours26 August 2016
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Participants in the BRICS Finance Ministers and Central Bank Governors’ Meeting, Meeting of the Board of Governors of the BRICS New Development Bank

Iran to Join BRICS Bank

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Iran plans to join the BRICS Bank, the Iranian Tasnim news agency reported Monday citing an Iranian official.

MOSCOW (Sputnik) – Iranian Deputy Minister of Economic Development Mohammad Khazaee said at a meeting of a joint Iran-Brazil economic council that Tehran aims to join the BRICS Bank.

“Iran will join #BRICS Bank: Iranian official,” Tasnim reported on its Twitter account.

The agreement to establish the BRICS New Development Bank (NDB), with an initial capitalization of $100 billion, was signed by the BRICS member states — Brazil, Russia, India, China and South Africa — during the group's 6th summit in Fortaleza, Brazil, in July 2014.

The bank was officially launched at the last BRICS summit in the Russian city of Ufa earlier this year.

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economy, BRICS New Development Bank (NDB), Iran
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  • game222
    Well done Iran! You have made a wise decision and obviously picked the right side of the table to sit at. I only hope other countries see the wisdom of your ways and make application to join BRICS-I?
  • mzungu in Africa
    It will be interesting to see how a bank without Jewish influence works and succeeds. Hopefully they have good security against all sorts of attacks.
  • The Red Queen
    BRIICS ? Needs a new name . Clean up Syria and add them too.
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