Standard Chartered believes that a significant step towards the monetary union of the members of the Gulf Cooperation Council will be taken next week. GCC leaders are meeting on May 5 to discuss where the common central bank will be located. In a brief note by Marios Maratheftis and Mary Nicola, Standard Chartered quotes a senior GCC official as saying four states want the honour.
“The location of the central bank remains a key point of contention among the GCC as several states are vying to host the central bank.
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