TEHRAN- The permanent meeting of the Technical Committee of the Asian Clearing Union (ACU) was hosted by the Central Bank of Iran (CBI), focusing on the use of member countries’ national currencies within the ACU framework, upgrading the Union’s infrastructure for exchanging financial messages, and expanding the ACU’s capacity through enhanced knowledge-sharing.
According to IRNA, citing the Central Bank, the permanent meeting of the Technical Committee of the Asian Clearing Union was held virtually on June 15, 2026, hosted by the Central Bank of the Islamic Republic of Iran. Representatives of the member central banks of India, Pakistan, Bangladesh, Sri Lanka, Nepal, Myanmar, the Maldives, Belarus, and Bhutan participated in the meeting.
The key topics discussed included the use of members’ national currencies within the ACU mechanism for settling payments related to imports and exports among member states; enhancement of the ACU’s infrastructure for financial messaging and payment-system connectivity; the application of central bank digital currencies (CBDCs) of member countries to facilitate cross-border payments; and the expansion of the Union’s capacity through greater exchange of knowledge and experience among members.
The proposals approved by the committee will be submitted to the Board of Directors of the Asian Clearing Union for approval and implementation. The Board is scheduled to meet later this year in Nepal.
In 2025, more than $22 billion worth of import and export transactions in goods and services among member countries were settled through the Asian Clearing Union mechanism. According to the Union’s Secretariat, these transactions were processed smoothly, on time, and without interruption.
The Asian Clearing Union (ACU) is a regional payment arrangement established in 1974 under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). Its primary objective is to facilitate payments for international trade among member countries while reducing dependence on external reserve currencies and lowering transaction costs.
The ACU operates as a multilateral clearing mechanism through which member central banks settle payments arising from trade and other current-account transactions. Instead of settling each transaction individually through correspondent banking networks, participating countries can offset payment obligations against each other and settle only the net balances at designated intervals. This system helps conserve foreign exchange reserves, improves payment efficiency, and supports regional economic cooperation.
Current members include Bangladesh, Bhutan, Belarus, India, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. Over the years, the Union has expanded its services and explored new initiatives to strengthen financial connectivity among its members.
In recent years, the ACU has examined the use of national currencies in cross-border settlements to reduce exposure to exchange-rate volatility and external financial shocks. The organization has also discussed upgrading its financial messaging infrastructure, improving payment-system interoperability, and exploring the potential use of central bank digital currencies (CBDCs) for international transactions.
By promoting more efficient regional payments and deeper financial cooperation, the ACU continues to play an important role in supporting trade and economic integration across Asia.
MA
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