December 26, 2010
Soon ~ That's Correct "Soon" ...
Unified Gulf currency may become a reality soon: GCC chiefA unified Gulf currency may soon become a reality,” Secretary General of the Gulf Co-operation Council, Abdur Rahman al-Attiyah has said in a statement to a Saudi Arabian newspaper.
According to a report published in the local Arabic daily Arrayah, he made the comments while addressing the press on the sidelines of an international conference on Saudi Arabia’s role in serving Islamic Causes held in Riyadh recently.
“All the problematic issues have been sorted out except those concerning the procedures to be adopted for the customs departments in the GCC countries,” he said.
“The Currency Council will soon announce the setting up of a Central Bank which will work out the timeframe for floating the unified GCC currency.”
However he hoped that the United Arab Emirates and the Sultanate of Oman which had withdrawn from the unified currency plan would reconsider their decision and fall in line with the other GCC countries.
“Evolving a unified currency will be a high point in the mutual integration among the GCC countries,” said the Secretary General.
However he hoped that the United Arab Emirates and the Sultanate of Oman which had withdrawn from the unified currency plan would reconsider their decision and fall in line with the other GCC countries.“Evolving a unified currency will be a high point in the mutual integration among the GCC countries,” said the Secretary General.
“Every major step towards unity and uniformity necessitates foregoing of certain rights and privileges in the interest of the common good,” he said.
