AGCC adopts monetary union criteria

Gulf Arab states agreed on Wednesday 7 April on several key criteria to integrate their economic and fiscal policies for their anticipated monetary union, Kuwait's central bank governor said.

They also reviewed the "legal and institutional" studies, which would be needed to establish a central bank for the six-nation Arabian Gulf Cooperation Council (AGCC), Shaikh Salem Abdulaziz Al Sabah told reporters after chairing a meeting of AGCC central bank governors.

"We have approved the most key sta

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