'Hegemonic corporations scared as BRICS plan bank to rival IMF'

RT: A new global bank is being born in South Africa - where the world's top emerging economies are meeting. The new financial powerhouse would be a direct challenger to the World Bank and the IMF - both dominated by the US. Brazil, Russia, India, China and South Africa also green-lighted a new, mammoth crisis fund - and hinted they would ditch the dollar. Source