GCC ratifies FX union criteria
But they did not announce any decision on how and when the six GCC states would start moving toward a single currency.
"The leaders endorsed the monetary and financial criteria (that will lead to) the success of monetary union," a summit statement said.
The statement made no mention of the shape or location of a Gulf central bank or the drafting of legislation identified by a GCC source as being pressing issues that needed political resolution.
Finance ministers meeting in Jeddah in October said they needed more time to approve the methodology of monetary union.
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