Thread: GCC Single Monetary Union

Gulf monetary union deal 'more or less final'
Gulf Arab central bankers "more or less" finalised a monetary union deal this week that will be presented to finance ministers in September, the United Arab Emirates central bank governor said on Thursday.

The draft agreement that will pave the way for Saudi Arabia and four of its neighbours to launch a single currency is "more or less final, except for some typing errors", Sultan Nasser Al-Suweidi told reporters in Dubai.

His comments confirmed those of Naser Al-Kaud, deputy assistant secretary-general for the Gulf Cooperation Council (GCC) secretariat, made to Reuters after a meeting of central bankers in Doha.

Gulf monetary union deal 'more or less final' - Politics & Economics - ArabianBusiness.com