EconomyAfrica
BRICS Finance Ministers Endorse Bilateral Settlement Protocol
A voluntary framework enabling non-dollar trade clearing between member central banks moves toward pilot deployment in Q4.
N
Nomvula Dlamini
UG Economics
8 Jul 2026
8 min read
South Africa
Photograph · UG Editorial
Johannesburg — Finance ministers of the expanded BRICS grouping approved a technical protocol allowing bilateral trade settlement through linked domestic payment systems.
The framework is voluntary and does not create a common currency, but it standardises messaging formats and dispute mechanisms across ten central banks.
BRICSCurrencyTrade
