Economy / FinanceMiddle EastPolitics

Saudi Arabia in Talks to Join BRICS New Development Bank


Saudi Arabia in talks to join BRICS bank: report The New Development Bank (NDB), also known as the BRICS bank, is reportedly in discussions with Saudi Arabia to join as its ninth member, the Financial Times reported. Saudi Arabia reportedly in talks to join BRICS bank to improve financial capabilities amid de-dollarization efforts This move is seen as a means to bolster the NDB’s funding options in the face of the Russia-Ukraine conflict. According to the report, the NDB expressed its recognition of the Kingdom of Saudi Arabia’s importance in the Middle East and confirmed ongoing constructive discussions with the country. Established in 2015, the…

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