INNOVATIVE FINANCIAL INSTITUTIONS AND THEIR ROLE IN RISK MANAGEMENT OF THE TECHNOLOGY SECTOR OF THE STOCK MARKET IN THE BRICS COUNTRIES

Abstract

This article examines the process of new technology development, digitalization and globalization in the BRICS member countries, which include Brazil, Russia, India, People's Republic of China, South Africa, Egypt, Ethiopia, Iran, UAE and Saudi Arabia. BRICS countries are facing various changes and challenges in the technology sector such as economic downturns, urgent need to modernize the financial system, growing cybersecurity threats, sanctions and instability in the global market. This article aims to assess the main tasks and functions of innovative financial institutions related to risk management in the stock market and financial systems of the BRICS countries. It will examine how these institutions support startups, create advanced payment systems, adopt technologies such as blockchain and artificial intelligence, and attract investment in a volatile environment. Special attention is paid to their unique operations in different countries - for example, how Egypt is using fintech to fight inflation, how Iran is using cryptocurrencies to circumvent sanctions, or how the UAE is using innovation to diversify its economy. The study also identifies key challenges (regulatory barriers, capital shortages), the relationship between technology and finance, the effectiveness and specificity of these institutions in a turbulent global environment, research objectives, methodologies, results and conclusions, and practical recommendations to strengthen BRICS countries' cooperation, economic sustainability and investment attractiveness.