AGCC reaffirms switchover plan to single currency

ARTICLE - Governors of AGCC central banks have reaffirmed their commitment to introducing a common currency for the six-member Arab states, as Gulf economies are gradually embracing the idea of globalisation and financial sector liberalisation.

First published in the Times of Oman, 27 October.

In fact, the changeover to a single currency on January 1, 2010, which is about seven years from now, would be a momentous turning point for the six-member Arab states, as it would provide nearly 32 million

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