Saudi Arabia may join BRICS bank – FT ...News

The multinational lender keeps expanding its global reach, aiming to help member states reduce dependence on the US dollar and euro The New Development Bank (NDB) of the BRICS group of major emerging economies is currently in talks with Saudi Arabia on admitting the kingdom as its tenth member, the Financial Times reported on Sunday. The move is expected to cement ties between the Shanghai-based lender, established by BRICS (Brazil, Russia, India, China, and South Africa) back in 2014, with the world’s second biggest producer of oil. “In the Middle East, we attach great importance to the Kingdom of Saudi Arabia an

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