BRICS New Development Bank vice presidents purviews defined

The scope of responsibilities for BRICS New Development Bank vice presidents has been defined, the South African Foreign Ministry said, citing Bank President Kundapur Vaman Kamath (India).

Paulo Nogueira Batista (Brazil) will be responsible for risk management and economic analysis. Vladimir Kabekov (Russia) will be responsible for human resources, IT and corporate communications. Zhou Xian (China) will be responsible for current operations. Leslie Maasdorp (South Africa) will be responsible for the organization's finances, credit portfolio management, budgeting and reporting.

"We're satisfied with the progress that has been made, which allows us to proceed to the next phase of establishing the Bank - hiring personnel," Mr Kamath said.

BRICS New Development Bank headquarters opened in Shanghai on 21 July, 2015.