Iran Emphasizes Technical Details for Shanghai Cooperation Organization Development Bank Establishment
According to the Economic Desk of Webangah News Agency, the Deputy for International Affairs of the Central Bank of the Islamic Republic of Iran presented the country’s technical and specialized views on the establishment of the SCO Development Bank during the fifth consultative meeting of the bank, which took place in Hangzhou, China. This specialized meeting provided an opportunity for Iran to articulate its concerns and constructive proposals regarding the international banking system.
During the session, Iran’s representative stressed the importance of multilateral financing models for development banks, prioritizing financing, capital attraction mechanisms, determining share rights, and the utilization of national currencies. Additionally, mechanisms related to voting rights and decision-making processes within the framework of the SCO Development Bank were discussed and examined.
Iran’s active participation and presentation of technical and practical solutions in the formation process of the SCO Development Bank, known as SCOB, will yield mutual benefits for member countries. This approach lays the groundwork for a stable and non-discriminatory financing structure, which has been welcomed by the secretariat and members of the organization.
The two-day meeting, which commenced on Monday, September 13, 2026, concluded in Hangzhou, China, with the participation of representatives from SCO member states and dialogue partners.
