Riyadh to host regional central bank

Saudi Arabia's capital has been named as the location for the Gulf's regional central bank, after an eight-month delay.

Abdulrahman al-Attiyah, the secretary general of the Gulf Cooperation Council (GCC), said on Tuesday that the five states involved in the plans for the regional hub had agreed to set up a monetary-policy council in Riyadh, which would develop into a fully-fledged central bank.

The five states involved are Bahrain, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates (UAE

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