According to SHADA, the meeting brought together senior economic and monetary officials from SCO member states and concluded with the signing of a joint protocol.

Addressing the summit, Mahdi Haidari, Iran’s Deputy Minister of Economic Affairs and Finance and President of the Organization for Investment, Economic and Technical Assistance of Iran, began his remarks by paying tribute to the martyrs of the recent imposed war, particularly student martyrs and the oppressed children of Minab.

Haidari underscored the urgent need to establish modern financial and banking mechanisms that are resilient to sanctions. He presented several proposals aimed at expanding economic and trade cooperation among regional countries. Highlighting the considerable economic potential of SCO member states, he called for broader use of national currencies in trade, financial, and investment transactions, describing such measures as an effective means of enhancing economic sovereignty and reducing vulnerability to unilateral sanctions and restrictions.

During the meeting, participants stressed the importance of greater coordination in monetary and fiscal policies to strengthen the resilience of domestic banking systems against global financial volatility and external economic shocks.

Officials also reviewed the significant progress achieved in multilateral consultations concerning the establishment of the SCO Development Bank. According to discussions at the summit, the proposed institution is expected to become one of the region’s most important mechanisms for financing infrastructure projects and strategic transportation and trade corridors.

In addition, economic ministries and central banks of member states reaffirmed their commitment to expanding the use of national currencies in both bilateral and multilateral trade. The initiative is intended to reduce transaction costs, improve the efficiency of payment systems, enhance regional financial independence, and promote deeper economic integration among SCO members.

The meeting took place amid growing efforts by SCO member states to develop independent financial frameworks, deepen regional economic cooperation, and reduce reliance on traditional international financial systems, which have increasingly become key priorities across the organization.