Gulf Cooperation Council states will extend the deadline to introduce a common currency, Nasser al-Kaud, deputy assistant general for economic affairs at the Gulf Cooperation Council said in Manama today.
The GCC’s monetary council will start operating by the end of this year, al-Kaud said at the 9th GCC Banking Conference.
The GCC members are Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Qatar and Bahrain. The currencies of all the members, except Kuwait, are pegged to the U.S. dollar.
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