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Regarding the financial mechanisms established by BRICS, consider the following statements:
- Founding members hold an equal stake and contribute an equal share to the New Development Bank (NDB).
- The Contingency Reserve Agreement (CRA) operates under an equal contribution stipulation, where all founding members contribute the same percentage of assets.
- A common BRICS currency for international trade was officially launched and implemented at the 2023 South Africa summit.
Which of the statements given above is/are INCORRECT?
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