Gulf nations plan to form central bank, common currency

12/2/2008 | AsianInvestor.net

Leaders of the Gulf Corporation Council from Kuwait, Bahrain, Saudi Arabia, Qatar and United Arab Emirates met recently and decided to create a central bank for the area, followed by a common currency. Persian Gulf leaders think they can promote trade, lower risks associated with individual currencies and remove transactional risk through a common currency. The plan is not without opposition.

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