ACU Explores Ways of Financial Empowerment in Tehran Meeting

The 51st meeting of the Asian Clearing Union (ACU) board of directors was held Wednesday in Tehran presided by the Iran’s first vice president, Mohammad Mokhber, and central bank governors of member states.
Participants included Elvira Nabiullina, governor of the Bank of Russia, Sergei Kalichits, deputy governor of the Central Bank of Belarus, and representatives from the Central Bank of Afghanistan and the Islamic Development Bank.
Jameel Ahmad, the governor of the State Bank of Pakistan, handed over the presidency of the union to Mohammad Reza Farzin, governor of the Central Bank of Iran and expressed optimism about future of the union.
Farzin elaborated on the Union's future plans and noted the important role of the Union in the global economy.
"Accepting new members with the aim of synergy, gaining new ideas and insight and creating added value for the Union are factors that have to be considered to strengthen the Union. Diversifying the Union's currency basket by using the national currencies of member states and other non-convertible currencies can help promote de-dollarization in trade, further preserve and promote the foreign currency reserves of members and help create an effective framework for settling commercial payments".