The New Bank of Development as a BRICS Banking Supervision Institution

The study examines the evolving dynamics of financial and interbank cooperation within the framework of BRICS paying particular attention to the role of the New Bank of Development. In recent years, BRICS has significantly expanded its influence through the inclusion of new member countries and the enhancement of its financial mechanisms. The study highlights the importance of promoting settlements in national currencies as a means of strengthening the economic sovereignty of participating states. This initiative is actively supported within the BRICS Interbank Cooperation Mechanism and contributes to the development of cross-border payment systems. The paper also emphasizes the need to establish an effective banking supervision framework at the BRICS level, with the involvement of the New Bank of Development. As BRICS continues to grow in membership and deepen its model of interstate integration along with the emergence of its own payment infrastructure the institutionalization of banking supervision and the expansion of international information exchange in this area have become especially relevant.

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