Gulf currency union may face delay

Plans by GCC member states to launch a single currency by 2010 face delays because some countries won't be able to make legal changes in time, the governor of the Central Bank of Kuwait said in an interview Tuesday 5 December.

Some member states, not including Kuwait, want more time to deal with the transferring of banking regulation and the management of currency reserves to a Gulf central bank, Sheikh Salem AbdulAziz al-Sabah, said in the interview with Bloomberg in Kuwait.

"Some countries ha

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