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GCC Monetary Council eyed in January
- Middle East: Saturday, October 17 - 2009 at 10:44
A Monetary Council will be established beginning early next year as a precursor to a joint central bank for four countries planning a single currency, according to Gulf Cooperation Council's Secretary General Abdul Rahman al-Attiyah, Bloomberg has reported. Al-Attiyah said he was 'absolutely' confident that the monetary council would set up by January. Earlier, Saudi Arabia's central bank Governor Muhammad al-Jasser has said four GCC states Saudi Arabia, Kuwait, Qatar and Bahrain are 'on track' to create a new shared currency.
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Medilyn Manibo, Assistant News EditorSaturday, October 17 - 2009 at 10:44 UAE local time (GMT+4)
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