05.01.2010 - GCC moves closer to common currency
From Menareport.com: In a step toward a common Gulf Cooperation Council (GCC) currency, the central banks of Saudi Arabia, Kuwait, Bahrain and Qatar have stopped lending to the public sector. According to the draft GCC common monetary union agreement, the four GCC central banks can no longer lend to public sector entities. The banks must also sell off their public sector loan portfolios........................................Full Article: Source
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