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Gulf States Not Agreed on Central Bank, Oman says - ASHARQ AL-AWSAT English Archive
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MUSCAT,(Reuters) – Central bankers from the six-nation Gulf Cooperation Council have not reached agreement on the location of a common central bank to be used in plans for monetary union, Oman’s central bank head said on Monday.

“A signature is still not there on the agreement because there is still no agreement on the location and currency of the central bank,” Central Bank Executive President Hamood Sangour al-Zadjali told reporters.

GCC rulers were likely to meet in May to discuss the location for a common central bank, he said. After a location was decided, policymakers would decide whether the currency would be pegged to the U.S. dollar, he said.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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