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Riyadh to host GCC central bank
- Saudi Arabia: Wednesday, May 06 - 2009 at 09:47
Abdul Rahman Hamad al-Attiyah, secretary-general of the Gulf Cooperation Council has said the six nation bloc has chosen Riyadh to host the GCC's future banking authority. Attiyah said the establishment of a Riyadh-based monetary council would be the first step toward creating a Gulf Central Bank, which would exist during a 'transitional phase' in the move toward monetary union, for which 'no timetable has yet been established.'
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StaffWednesday, May 06 - 2009 at 09:47 UAE local time (GMT+4)
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