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 Gulf countries.
"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 Monetary Union.
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) yms.bs KUNA 022031 Dec 13NNNN