Iran has proposed connecting the national payment systems of BRICS countries, building on the successful integration of Russia's "Mir" and Iran's "Shetab" systems. This proposal was announced by Nasser Kanani, the official spokesperson for Iran's Foreign Ministry.
"Beyond the bilateral agreement between Iran and Russia, where our central banks have completed the connection of national payment systems, enabling trade settlements in national currencies, we are actively discussing extending this mechanism to all BRICS nations," - Kanani stated during a press conference broadcast by IRIB TV. - "The Russian side has responded positively to this proposal."
He expressed hope that the existing tools facilitating trade and bank payments between Iran and Russia would be expanded to encompass all BRICS states. Kanani confirmed that consultations on this matter are ongoing.
This proposal follows a meeting on July 4th between Mohammad Reza Farzin, Governor of the Central Bank of Iran, and Elvira Nabiullina, Governor of the Russian Central Bank, in St. Petersburg. On July 6th, Farzin announced that the meeting concluded with the confirmation of the "Mir" and "Shetab" integration and the signing of an agreement to provide liquidity for national currencies in commercial transactions.
Starting August 22nd, Iranians will be able to withdraw rubles from Shetab smart cards at all ATMs in Russia. Future phases of the project aim to enable Russians to use Mir cards in Iran and Shetab cardholders to make purchases with Iranian bank cards in Russian stores.
Currently, the Mir card is accepted in 12 countries. In addition to Russia, it is fully functional in Abkhazia, Belarus, Cuba, and South Ossetia. Egypt, Iran, Mauritius, and Myanmar are planning to introduce Mir, while six other countries are in discussions regarding its implementation.
GSV "Russia - Islamic World"
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Based on materials from TASS