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The E-Sylum:  Volume 9, Number 44, October 29, 2006, Article 14

A UNIFIED PERSIAN GULF CURRENCY BY 2010?

According to an October 24 news report, there are some plans
for a unified currency in the Persian Gulf region - can any
of our readers provide more background?  Is this a pipe dream
or potential reality?

"... the Gulf Cooperation Council (GCC) paid attention to
monetary aspects in the implementation of Article 22 of the
Unified Economic Agreement, which stipulates, "Member States
shall seek to coordinate their financial, monetary and banking
policies and enhance cooperation between monetary agencies and
central banks, including the endeavor to establish a joint
currency in order to further their desired economic integration."

The GCC has achieved many accomplishments in this regard,
which were culminated in the agreement on the issuance of
a unified Gulf currency at the beginning of 2010."

To read the complete article, see: Full Story

To access the Gulf Cooperation Council homepage (in English), see:
gcc-sg.org

  Wayne Homren, Editor

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