*** Monday, August 16th ~ GCC Moving Forward on Exchange Rate Policies ... August 17, 2010
CBK Governor arrives in Riyadh for monetary council meeting
RIYADH, Central Bank of Kuwait (CBK) Governor Sheikh Salem Abdulaziz Al-Sabah arrived here Monday with an official delegation to participate in the third meeting of the Gulf monetary council to be held on Tuesday.
Sheikh Salem was received at King Khalid International Airport by several officials from the Saudi Arabian Monetary Agency and Charge d'Affairs at Kuwait Embassy in Riyadh Advisor Thiyab Al-Risheedi.
Besides Al-Sabah, the meeting will also be attended by governors of monetary bodies and central banks of the member states of the monetary union, which are Saudi Arabia, Bahrain, Qatar, and Kuwait.
They will discuss efforts to prepare the organizational structure of the monetary council.
The meeting aims to strengthen relations among central banks to enable them to provide a suitable atmosphere to complete the establishment of the monetary union.
The monetary council was established according to the monetary union agreement.
Riyadh temporarily hosts the headquarters of the executive council.
The permanent headquarters will be at King Abdullah Financial Center in the same city.
In March, the monetary council's board chose governor of the Saudi agency Dr. Mohammad Al-Jasser as its head for one year.
Governor of Central Bank of Bahrain Rasheed Al-Miraj was appointed deputy head for a year.
The Gulf monetary council is preparing for the establishment of a central bank for the monetary union member countries and for issuing a joint currency.
(end). ay.ris KUNA 161649 Aug 10NNNN
http://www.kuna.net/
RIYADH, Central Bank of Kuwait (CBK) Governor Sheikh Salem Abdulaziz Al-Sabah arrived here Monday with an official delegation to participate in the third meeting of the Gulf monetary council to be held on Tuesday.
Sheikh Salem was received at King Khalid International Airport by several officials from the Saudi Arabian Monetary Agency and Charge d'Affairs at Kuwait Embassy in Riyadh Advisor Thiyab Al-Risheedi.
Besides Al-Sabah, the meeting will also be attended by governors of monetary bodies and central banks of the member states of the monetary union, which are Saudi Arabia, Bahrain, Qatar, and Kuwait.
They will discuss efforts to prepare the organizational structure of the monetary council.
The meeting aims to strengthen relations among central banks to enable them to provide a suitable atmosphere to complete the establishment of the monetary union.
The monetary council was established according to the monetary union agreement.
Riyadh temporarily hosts the headquarters of the executive council.
The permanent headquarters will be at King Abdullah Financial Center in the same city.
In March, the monetary council's board chose governor of the Saudi agency Dr. Mohammad Al-Jasser as its head for one year.
Governor of Central Bank of Bahrain Rasheed Al-Miraj was appointed deputy head for a year.
The Gulf monetary council is preparing for the establishment of a central bank for the monetary union member countries and for issuing a joint currency.
(end). ay.ris KUNA 161649 Aug 10NNNN
http://www.kuna.net/
