What is BRICS Pay, and can it rival the West’s SWIFT payments system?
- The central theme of the BRICS bloc of nations is to push back against the global economic dominance of Western countries.
- That core value was very much at the centre of this year’s 18th BRICS Summit, which took place last week in India.
- At the September 12 and 13 summit in New Delhi, leaders committed to expanding local currency trading systems and cross-border payment systems by investing in BRICS Pay, an initiative of the BRICS Business Council.
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- The central theme of the BRICS bloc of nations is to push back against the global economic dominance of Western countries.
- That core value was very much at the centre of this year’s 18th BRICS Summit, which took place last week in India.
- At the September 12 and 13 summit in New Delhi, leaders committed to expanding local currency trading systems and cross-border payment systems by investing in BRICS Pay, an initiative of the BRICS Business Council.
Sources: Al Jazeera