Mohsen Karimi, during the first meeting of economic ministers and heads of central banks of the BRICS group in 2024, explaining the proposals of the Central Bank of the Islamic Republic of Iran to establish three institutions: "International Credit Rating" , “Anti-BRICS independent institution against money laundering and terrorist financing". And also the creation of a banking messaging system (similar to SWIF) for members of the BRICS group, he said : These proposals, which were presented by the Central Bank of Iran to the periodic chairman of the BRICS group, were agreed by the board of directors of this group and were included in the agenda of the first meeting during where economic ministers and heads of central banks from the BRICS group discussed future meetings.
During this meeting held in Sao Paulo, Brazil, the Deputy Director for International Affairs of the Central Bank added: The proposals of the Central Bank of Iran were included in the agenda of the first meeting of ministers of Economy and heads of central banks of Iran. the BRICS Group and future discussion meetings.
He said: BRICS member countries, as emerging economic powers, absolutely need to create a "settlement mechanism" among themselves to achieve a unified financial structure, and Iran can also help in this area.
Congratulating all countries that have recently become members of the BRICS group, Karimi said: the current transition period shows that the structures of the unipolar and bipolar systems are no longer sufficient to handle the complexities of this era, and in fact, the creation of the BRICS group reflects our shared collective understanding of this reality.
Highlighting the need to utilize the continued progress of BRICS group members in various areas, especially in infrastructure investments, the International Vice President of the Central Bank said: The Central Bank of the Islamic Republic of Iran suggests that BRICS member countries prepare to promote integration.
He continued: We believe that in the current situation, the improvement of international financial and monetary systems is of considerable importance and that the current structure is often used as the main tool to exert political and economic pressure on certain countries due to its significant gaps. be
It is for this reason that the Central Bank of the Islamic Republic of Iran proposes to examine the existing potentials to establish an independent financial infrastructure, in order to create stronger economic ties between the BRICS member countries.
Referring to the central bank's proposed axes, Karimi said: In this important meeting, the Islamic Republic of Iran agrees with all topics and areas raised during the discussions and speeches, including the working axes current, including reserve agreements (CRA), (change system) Macroeconomic information), (SEMI) (BRICS Rapid Information Protection Channels), cooperation in payment systems, financial transfer, fintech research group, as well as ideas linked to deeper cooperation in other areas such as "cooperation in the field of combating "money laundering and financing of terrorism" and "national credit rating" announces that the proposals of the Central Bank of Iran were added to the agenda of BRICS meetings.
The International Vice President of the Central Bank stressed that this bank considers itself committed to helping the member countries of the BRICS group achieve their objectives, particularly in the two areas of “national credit rating” and “cooperation in the area of the fight against money laundering. and financing of terrorism" highlighted and said: "National credit rating" has considerable potential to facilitate the financing of infrastructure and development projects among member countries, and the need to develop this financial rating system is also taken into account by the Islamic Republic of Iran. . is placed
He said: This work requires mutual recognition of credit ratings granted by rating institutions of BRICS member countries.
Accordingly, the Central Bank of the Islamic Republic of Iran is ready for any cooperation in this regard with all departments and members of the BRICS group.
Regarding "cooperation with the BRICS group in the field of combating money laundering and terrorist financing", Karimi said: the specific proposal of the Central Bank of the Islamic Republic of Iran in this regard is to create an independent body to combat money laundering and the financing of terrorism. institution of the BRICS group in order to be effective in the exchange of surveillance information for the purposes of money laundering and terrorist financing.
Of course, this institution will be composed of financial supervisors and will facilitate the strengthening of cooperation between BRICS member countries and financial supervisors.
The International Vice President of the Central Bank said: "In particular, we have seen that some of the current well-known institutions rely unconstructively on the rules and norms often formulated by Western countries, and that the approach non-economic and political prevails over them.
He described the presentation of such an initiative as in line with existing international standards and said: “This structure certainly requires rapid, constructive and effective cooperation between financial supervisors so that they can achieve the greatest international cooperation in matters of money laundering and financing. terrorism.
Ultimately, Karimi emphasized that necessary efforts should be made to avoid the unfortunate consequences of similar institutions such as the FATF, which were also endorsed by them.
In this regard, we fully accept and support the proposal to create an international/centralized intelligence agency.
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