Interbank Messenger eliminates the need for SWIFT for members of the Asian Clearing Union
According to Iran Economist From Central Bank, “Mohsen Karimi” stated that the 51st meeting of the Asian Exchange Union with half a century of history will be held on Tuesday and Wednesday (2nd and 3rd of June 1402) at the Central Bank, saying: Asian Exchange Union aims to reduce the need And dependence on international currencies, especially the dollar, was established in the 70s.
Dollarization is the main focus of the Asian Exchange Summit
This central bank official added: A good capacity for dollarization has been identified in the Asian Exchange Union, the secretariat of the union is in the Central Bank of Iran, and since last year at the 50th meeting of this union, it was approved that the Islamic Republic of Iran will host the 51st meeting of this union.
He added: In order to expand and strengthen this union, efforts have been made to accept other countries in the Asian Exchange Union. Currently, there are 9 member countries of the union since its establishment until now, which are important countries such as Iran, India and Pakistan and other countries in the subcontinent. India is present in this union.
Karimi stated that in the past year, new countries have also applied for membership in this union, and said: Based on this, a decision will be made regarding the acceptance of these countries’ membership at tomorrow’s summit.
He emphasized: In addition to the presence of nine main members of the Asian Exchange Union, Russia, Belarus, Afghanistan and Nair Islamic Development Bank will be present at tomorrow’s meeting.
The Vice President of International Affairs of the Central Bank said regarding the level of holding the Asian Exchange Meeting: The 51st meeting was held at the level of the heads of central banks of the Union, their deputies and deputy officials and their deputies, along with the officials of the central banks of the three countries of Russia, Belarus and Afghanistan and Islamic Development Bank will be held.
Amending the union’s constitution to facilitate the acceptance of new members
Explaining the agenda of the 51st meeting of the Asian Exchange Union, Karimi said: In tomorrow’s meeting, based on the plans made since last year, many efforts have been made in the specialized committees to draft the constitution of this union in a way that fits the current monetary and banking developments. It is international and should be amended. On this basis, important provisions of the articles of the statute will be revised in order to facilitate the membership of other countries, as well as the use of the currencies of the member countries as settlement currencies.
Decision making in the field of settlement currency basket
He added: In addition to the method of membership and the use of local currencies for settlement of exchanges, three other currencies are on the agenda of the summit as the currencies of the settlement basket, in order to reduce as much as possible the dependence and need of countries for stability in the offices of the union to dollars and euros. to give
Emphasizing that 9 main members are members of the Asian Exchange Union, Karimi said: Three countries are in person as observer members in this union and we hope that good decisions will be made in this summit and a step to strengthen this union in the field of dollarization and reducing dependence on infrastructure. Money and banking should be taken under control.
The Vice President of International Affairs regarding the bilateral negotiations with Russia said in this meeting: Tomorrow, Tehran will host the Governor of the Central Bank of Russia, and bilateral negotiations with the Central Bank of this country will be held in line with the agreements and documents signed by the parties in the past year. is being discussed and reviewed, and Russia will participate in this year’s summit as an observer member.
Regarding the content of tomorrow’s summit negotiations, Karimi said: In addition to the amendments foreseen in the constitution and the voting in this regard, a series of substantive measures will also be examined in this summit, and on the eve of this summit, important issues such as messengers between A bank has been provided for the member central banks of this union, which will eliminate the need for SWIFT banking messages between members, and the feasibility and use of digital currencies of central banks for cross-border payments will be examined and exchanged.