BRICS pay system focuses on financial sovereignty, not de-dollarisation: BRICS international chairman Pawan Joshi

Source: ANI (Asian News International) | Original Published At: 2026-09-10 22:15:14 UTC

Key Points

• Pawan Joshi, Chairman of BRICS International, said the BRICS Pay cross-border payment system is designed to build financial bridges and strengthen national sovereignty.
• He stated that BRICS Pay is not intended to dismantle the existing global monetary order or replace reserve currencies.
• The platform is described as an interoperable bridge between existing national financial networks to streamline trade and financial flows among partner nations.
• The remarks come as BRICS member states evaluate mechanisms for local currency trade and faster cross-border settlement.
• India's 2026 BRICS chairship is themed around resilience, innovation, cooperation, and sustainability, with the New Delhi summit following Brazil's 2025 chairship summit in Rio de Janeiro.
• India's 2026 chairship will be its fourth BRICS tenure, following previous chairships in 2012, 2016, and 2021.