Expert reveals the steps BRICS can take to reduce the US dollar’s dominance

Banking expert and former vice-president of Banque Misr, Sahar al-Damaty said that cooperation with the BRICS will require new foundations and infrastructure to serve as a basis for evaluating currencies away from the US dollar.

It will also require developing payment systems and managing the flow of goods, energy, information and other resources such as products, services and even human resources.

A payment system must be put in place that allows current and expected countries to deal through it, she explained, in addition to the logistics of their dealings with each other.