From Gulfnews.com: The way Gulf states manage the fallout from the Algosaibi group, which owes 34.6 billion Saudi riyals (Dh33.71 billion) to banks, is a test for the cooperation needed to build a unified currency, the UAE Central Bank governor said.

“If we have a common market, we should know how to deal with such cases,” Sultan Bin Nasser Al Suwaidi said in an interview in Basel, Switzerland, on Sunday. “We should meet as regulators and we should discuss the issue and discuss a solution. All these things have not happened.” …….Full Article: Source