TEHRAN – Mohammad Reza Farzin, Governor of the Central Bank of Iran (CBI), departed for Beijing to participate in the meeting of central bank chiefs from member states of the Shanghai Cooperation Organization (SCO) and hold bilateral talks with his counterparts.

According to a Sunday night statement from the CBI, the SCO currently includes ten full members: China, Russia, India, Iran, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and Belarus. An additional six countries—Turkey, Azerbaijan, Armenia, Cambodia, Nepal, and Sri Lanka—participate as dialogue partners.

The international gathering of SCO central bank governors, scheduled for June 3 in Beijing, will focus on enhancing monetary and banking cooperation among member states.

According to the event's secretariat, key issues on the agenda include strategies to boost financial and monetary transactions and facilitate currency settlements between member countries.

Bilateral meetings are also expected to take place on the sidelines of the summit, aimed at strengthening monetary and banking ties among SCO members.

The SCO represents 25 percent of global GDP and 40 percent of the world’s population. The organization has fostered economic, trade, and security cooperation among its members and has become a platform for de-dollarization and trade facilitation.

The influence of the SCO is further amplified by the participation of some of its key members in other major international bodies such as BRICS, enhancing the organization’s capacity to shape regional and global developments.

EF/MA