Saudi Arabia to UAE: GCC Central Bank location is final. (Blog)

There was news last week of Prince Saud Al-Faisal visiting the UAE to discuss their reservation over the location of the GCK (Gulf Central Bank). Well, what was expected happened: the Emaratis insisted and the Saudis stood firm on their respective positions over the GCK’s location.

“It is not derailed, it will continue. The monetary union will proceed as planned,” stated the Saudi Finance Minister Ibrahim Al Assaf in Oman on Saturday. ”As long as we are moving in the right direction, this is the most important,” he continued.

Mr. Al Assaf finished off his interview by ending speculation over changing the location of the GCK from Riyadh, “No. This is a decision that has been taken by our leaders.”