TEHRAN- The Governor of the Central Bank of Iran (CBI) met and held talks with the Governor of the South African Central Bank on the sidelines of the BRICS summit.
According to IRNA from the Central Bank, in the meeting between Abdolnasser Hemmati and Lesetja Kganyago, the two sides reviewed existing capacities for expanding monetary and banking cooperation between the two countries and exchanged views on solutions for developing financial interactions, facilitating trade exchanges, and strengthening ties between the banking and financial institutions of Iran and South Africa.
Also in this meeting, the importance of utilizing the capacity for multilateral cooperation within the BRICS framework and developing effective mechanisms for enhancing economic and banking cooperation among member countries was emphasized.
The encounter comes as Iran pushes for greater integration into BRICS financial architecture, including its bid to join the New Development Bank. Hemmati has been actively engaging with fellow BRICS officials throughout the two-day gathering in Jaipur, having already met with his Indian counterpart Sanjay Malhotra and NDB President Dilma Rousseff.
For South Africa, a founding BRICS member, the talks reflect its continued commitment to strengthening ties with newer members of the expanded bloc. The meeting also underscores the growing importance of bilateral financial diplomacy as BRICS countries seek to reduce their reliance on Western-dominated payment systems and foster trade in local currencies.
Iran and South Africa share longstanding political and economic ties, with both nations having faced periods of international isolation. Their central banks have previously collaborated on technical issues, though concrete financial integration has remained limited. Whether this latest engagement will translate into tangible banking agreements remains to be seen, but the signal from Jaipur is clear: BRICS members are moving from dialogue to delivery.
Also in late June, Iran’s Minister of Oil held talks with the Minister of Electricity and Energy of South Africa regarding the development of bilateral cooperation in the energy sector, Shana reported.
Mohsen Paknejad, on the sidelines of the 11th Meeting of BRICS Energy Ministers, on June 25, on the second day of his visit to India, met with Kgosientsho Ramokgopa, the Minister of Electricity and Energy of South Africa, and emphasized the development of bilateral cooperation.
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