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Egypt, Iran, Saudi Arabia, UAE to join BRICS

The Shanghai-headquartered New Development Bank, or so-called “BRICS bank”, had already admitted the UAE and Egypt as shareholders.

BRICS summit 2023
(From L to R) President of Brazil Luiz Inacio Lula da Silva, President of China Xi Jinping, South African President Cyril Ramaphosa, Prime Minister of India Narendra Modi and Russia's Foreign Minister Sergei Lavrov pose for a BRICS family photo during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg on August 23, 2023. — Gianluigi Guercia/AFP/Getty

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