Rivalry and differences between Saudi and UAE

* username: rupertbu

Competition for roles in a planned monetary union has brought to the open rivalry between Saudi Arabia and the United Arab Emirates, the Gulf Cooperation Council's (GCC) two biggest economies.

The UAE quit the monetary union plan last year after heads of states chose Riyadh as a location for the bank, dealing a blow to a plan that has been languishing since 2001.

The appointment last week of the Saudi central bank governor at the helm of the monetary union's top authority may be for only a one year term but the move may further reduce prospects for the United Arab Emirates and Oman to return.