A meeting held by Co-operation Council for the Arab States of the Gulf (GCC) central bank governors in the first week of April to discuss a planned monetary union ended with little achieved. As a result, many doubt that a single currency can be launched in Kuwait, Saudi Arabia, Oman, Qatar, Bahrain and the UAE by 2010 as the GCC envisaged.
The concept of a single currency emerged in the belief that it would lead to such benefits as greater intra-regional trade and investment, and the promotion and facilitation of flows.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
