• HSBC

Four GCC states to ink monetary pact

  • Middle East: Saturday, June 06 - 2009 at 12:36

Four members of the six-nation Gulf Cooperation Council has set to sign an accord regarding the monetary union on Monday. The signing had originally been planned for Sunday but will now take place during a meeting in Riyadh of GCC foreign ministers. The remaining four members of the GCC are Bahrain, Kuwait, Qatar and Saudi Arabia, as the UAE has recently expressed reservations over the hosting of the banking authority, while Oman has opted out in 2007.

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