~snip "He believes economic integration is possible among the GCC countries without using a single currency like the South East Asian nations"
Kuwait’s panel on single currency seeks more info
Arab Times - 23 November, 2009
A joint committee consisting of representatives from the parliamentary Financial and Foreign Affairs panels, which was formed by the Parliament to present a complete report on the GCC single currency agreement, has asked the government to submit additional information in this regard during its meeting on Dec 2.
Speaking to reporters after the panel meeting Sunday, Finance Affairs Committee Chairman Dr Yusuf Al-Zalzalah explained “everyone wants an integrated economy in the Gulf but we need clear figures to analyze the proposal to see if it has a positive impact on the region.”
Stressing the need for harmony between the economic and financial aspects of the issue, Al-Zalzalah argued “the European states have benefited from the single currency system and we need to implement the same in GCC nations.”
Arab Times - 23 November, 2009
A joint committee consisting of representatives from the parliamentary Financial and Foreign Affairs panels, which was formed by the Parliament to present a complete report on the GCC single currency agreement, has asked the government to submit additional information in this regard during its meeting on Dec 2.
Speaking to reporters after the panel meeting Sunday, Finance Affairs Committee Chairman Dr Yusuf Al-Zalzalah explained “everyone wants an integrated economy in the Gulf but we need clear figures to analyze the proposal to see if it has a positive impact on the region.”
Stressing the need for harmony between the economic and financial aspects of the issue, Al-Zalzalah argued “the European states have benefited from the single currency system and we need to implement the same in GCC nations.”
He said using a basket of currencies is the best way for Kuwait because it encountered numerous problems when the Kuwaiti dinar was linked with the dollar, especially the loans issue due to the accumulated interests.
Commenting on the same issue, MP Abdulrahman Al-Anjari contended the single currency should be an economic agreement more than political.
Commenting on the same issue, MP Abdulrahman Al-Anjari contended the single currency should be an economic agreement more than political.
He wondered whether the decision of Oman and United Arab Emirates (UAE) to withdraw from the agreement was a political or economic decision.
He believes economic integration is possible among the GCC countries without using a single currency like the South East Asian nations.
