Saudi Arabia is engaging in discussions to become a member of the BRICS New Development Bank, signaling a potential expansion of the regional and global financial collaboration. Reports from major outlets describe the ongoing conversations as a pivotal step, with BRICS officials presenting the kingdom as a country of significant strategic interest in the Middle East and beyond.
Representatives from the BRICS New Development Bank emphasized that Saudi Arabia is held in high regard and that substantive dialogue is underway. This tone underscores the bank’s desire to deepen ties with partners that share an interest in reshaping the landscape of international development finance away from traditional Western-led frameworks.
Media coverage highlights that joining BRICS would strengthen the inter-member relationships and could broaden the organization’s influence. The New Development Bank, created by a bloc of large, fast-growing economies, has positioned itself as an alternative source of development funding and a counterweight to existing Bretton Woods institutions, as noted by Financial Times coverage.
In recent discussions, various global states have circulated formal and informal requests to join the organization, reflecting a broader interest in BRICS’s approach to development and multi-polar economic governance. The group’s core members—Brazil, China, Russia, India, and South Africa—continue to coordinate strategy while considering new applicants.
Current candidates for membership have included Argentina, Algeria, and Iran. According to BRICS representatives, a notable number of other nations have expressed interest in joining, among them Turkey, Saudi Arabia, the United Arab Emirates, and Egypt, signaling a rising momentum toward a more expansive and inclusive framework for international development finance.