Tuesday 22 March 2011

UAE urged to rejoin GCC currency bloc - The National

The UAE remains involved in planning the GCC monetary union and the four states within the project are still hoping it will rejoin the proposed bloc, says the Saudi Arabian central bank governor.

The comments come as economists stress the importance of the project to help the region compete with other emerging markets.

"The GCC monetary union is an absolute priority for the four countries involved," said Mohammed al Jasser, the governor of the Saudi Arabian Monetary Agency, on the sidelines of the Jeddah Economic Forum.

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