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The purpose of BRICS PAY is to make international payments more safe, transparent, less costly and complicated, encouraging international cooperation between the quickly expanding BRICS members. [7] On October 23, 2024, China has fully backed BRICS PAY. [1]
The 2024 BRICS summit was the sixteenth annual BRICS summit, held in Kazan, Russia. It was the first BRICS summit to include Egypt , Ethiopia , Iran , and the United Arab Emirates as members, following their accession to the organization at the 15th BRICS summit .
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The legal basis is formed by the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement, signed in Fortaleza, Brazil, on 15 July 2014. It entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015. The objective of this reserve is to provide protection against global liquidity pressures.
BRICS had the intention of improving their global power and providing adequate development for their state. [96] 5th: 26–27 March 2013 South Africa: Jacob Zuma: Durban : The fifth summit discusses the New Development Bank proposition and Contingent Reserve Agreement. BRICS also announced the Business Council and its Think Tank Council. [96] 6th
ISO 9362: 1994 Banking—Banking telecommunication messages—Bank identifier codes; ISO 10383: 2003 Securities and related financial instruments—Codes for exchanges and market identification (MIC) ISO 13616: 2003 IBAN Registry; ISO 15022: 1999 Securities—Scheme for messages (Data Field Dictionary) (replaces ISO 7775)
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But having BRICS pay 159 nations' replacement of USD with BRICS Unit© causing USD to be cut in Value by 50%[gold 200% double in Value] will cause Civil War in United States, which is very dangerous=pushing world into Nuclear annihilation mousetrap" Einstein warned! as well as the 2001 dark winter operation monkey pox using on Moscow and ...