RIYADH, Dec 2 (KUNA) -- The Gulf Monetary Council Monday brushed aside
press reports that it has set a date to launch the single currency of the Arab
"The Monetary Council affirms that the reports by some newspapers and
websites over the date of the issuing of the single Gulf currency are
completely false, not based on accurate information nor reliable sources," the
council said in a statement.
The Monetary Council is mandated with placing regulations for the
establishment of the Gulf Central Bank and completing the establishment of the
The press reports suggested that four countries of the Gulf Cooperation
Council (GCC), with the exception of the UAE and Oman, will announce the
single currency by end of this year. The GCC also includes Kuwait, Saudi
Arabia, Bahrain and Qatar.
Leaders of the six GCC countries are set to hold summit talks in Kuwait on
December 10-11. (end)
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