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BRICS Summit Expected to Advance Cross-Border Payment Links, Sources Say

BRICS Summit likely to push cross-border payment links, not de-dollarisation: Sources
Countries
EgyptEthiopiaIndiaRussiaSaudi ArabiaUnited Arab Emirates
Cooperation areas
Economic GrowthInstitutional Development

Source: The Hindu Business Line | Original Published At: 2026-08-27 14:37:22 UTC

Key Points

  • The BRICS Summit scheduled for September 12–13 in New Delhi is expected to discuss links between members' digital payment systems and central bank digital currencies.
  • BRICS finance ministers and central bank governors discussed financial cooperation, cross-border payments and national-currency settlements in Jaipur on August 12–13.
  • Sources said the finance track was expected to meet again in early September to clarify proposals for the summit.
  • Proposed links could reduce currency-conversion costs, accelerate settlement and facilitate trade in members' national currencies.
  • Officials distinguish these proposals from creating a common BRICS currency or replacing the US dollar, describing them as complementary to existing global payment systems.
  • India has established cross-border payment integration with the United Arab Emirates and is working on similar systems with Russia, Saudi Arabia, Egypt and Ethiopia.
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