Introduction

The Asian Clearing Union (ACU) confirmed the adoption of the yuan, ruble and rupee and the creation of an electronic platform for commercial transactions between member states in addition to the dollar and the Swift Association.

ACU Meeting in Tehran

In an interview with Iran’s Jam Jam, ACU Secretary General Farhad Morsley pointed out that the ACU meeting in Tehran recently made 12 decisions as central bank officials in India and Pakistan confirmed that these decisions are in the interests of Iran and merchants of the country, according to the rest of the members.

Exchange Between Iranian Merchants and Merchants of Other Member States

Morsali pointed out that one of the most important decisions made is the exchange between Iranian merchants and merchants of the rest of the member states through the currency of rupees so that Iranian merchants can open rupee accounts in specific banks, noting that the decision will come into force next month.

Funding in Multiple Currencies

He added that Iranian merchants will be able to receive funding in rupees, yuan and rubles, as well as in other national currencies of member states, and will also get rid of the ban on the dollar and the SWIFT platform.

New Platform for Electronic Financial Transactions

He stated that a new platform called “Iseomer” will be launched, similar to the local “SPAM” platform for electronic financial transactions.

Source

Source: “Faris”