Will the New Development Bank (formally known as BRICS Development Bank) admit any new members by June 30th?
Market Rules
The New Development Bank's (formally known as BRICS Development Bank) board of governors meets once every six months. Besides the BRICS' founding members, Bangladesh, the United Arab Emirates, Egypt, and Uruguay (in prospective status) are also members of the bank. Other countries have applied to take part as members —such as Kazakhstan, Malaysia, Mexico, and Nigeria —and are still awaiting the approval of the board of governors.
If by June 30th, 2024, the BRICS Development Bank's board of governors publicly announces that they have decided in favor of admitting any new country as a member, this market will resolve to “Yes”.
In the event that any country (besides Uruguay) becomes a prospective member of the bank as a result of that same meeting, this market will also resolve to “Yes”.