GCC countries set to create common currency
A meeting in Muscat attended by leaders of Bahrain, Kuwait, Qatar, Saudi Arabia and UAE concludes with plans to set up a Gulf central bank and introduce a common currency not unlike the euro.
A top level meeting attended by leaders of the Gulf Corporation Council from Bahrain, Kuwait, Qatar, Saudi Arabia and United Arab Emirates in Lebanon last week has resulted in plans to create a common central bank for the region. Leaders who attended the meeting say there are plans to create a common currency for the region by 2010 upon a successful creation of the central bank.Citing reasons not unlike the rationale for the European UnionÆs introduction of the euro near the turn of t…
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