De-Dollarization to Be Discussed at Asian Clearing Union Summit: CBI

De-Dollarization to Be Discussed at Asian Clearing Union Summit: CBI

TEHRAN (Tasnim) – An official with the Central Bank of Iran (CBI) said that important decisions will be adopted about ditching the US dollar and reducing dependency on it in bilateral transactions during the 51st Asian Clearing Union Summit.

In addition to the participation of nine main members of the union, Russia, Belarus, Afghanistan, and the Islamic Development Bank (IDB) will take part in this event, Deputy Governor of Central Bank of Iran for International Affairs Mohsen Karimi stated.

He said that three of the nine countries are observer members of the union.

It is hoped that good decisions will be taken at the summit on sidelining the US dollar in bilateral transactions and also reducing dependency on banking and monetary infrastructures, he stated. 

Elsewhere in his remarks, Karimi said, “We will host the governor of the Central Bank of Russia in Tehran tomorrow to discuss pertinent issues.”

The Iranian and Russian banking officials will mull over the agreements inked between the two sides in the previous year, he continued.

The 51st Asian Clearing Union Summit will be held at the venue of the Central Bank of Iran on May 23-24 to discuss reducing dependency on the world’s major currencies, especially the US dollar.

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