Middle East
Inflation major risk to GCC currency bid
According to this recent article published on the Trade Arabia website, petty politics and diverging inflation rates are the main risks to the Gulf's attempts to set up a monetary union by 2010.
GCC central bank to be based in Abu Dhabi
The GCC states have already agreed to base the new GCC central bank in Abu Dhabi, a report said.
IMF Paper: Statistics for a GCC currency union
Looking ahead to the creation of a Gulf Cooperation Council (GCC) Currency Union in 2010, the IMF Working Paper "Principles for development of statistics for a Gulf Cooperation Council currency union" covers some implications for the statistical programs…
IMF says Persian Gulf should consider peg
Persian Gulf countries preparing to establish a single currency should consider pegging to the euro as well as the dollar, according to the International Monetary Fund.
Prerequisites of a single Gulf currency
According to this article published Monday 8 May, the issuance of a single currency by 2010 in the Gulf Cooperation Council (GCC) member states will crown Gulf economic integration efforts.
Comments: Reserve diversification
Recent reports of the diversification official foreign exchange reserves in the Middle East have not gone unnoticed. Economists are starting to ask if the prospect of large-scale reserve diversification is back on the international agenda, following a…
Gulf states buy euros with their reserves
According to this article published on Wednesday 5 April, a diversification of Middle East reserves could have a negative impact on Washington's ability to finance its debt.
Time for Gulf economies to increase gold reserves
According to this article published on Thursday 30 March, the prospect of selling oil for inflated dollars should send Middle Eastern central banks to the hedge commodity of gold.
Doha conference calls for regional central bank
A two-day conference on enriching the economics of the Middle East region, held in Doha this week, ended with a call for the creation of a regional central bank.
Bahrain establishes new money laundering taskforce
Bahrain is establishing a new taskforce to combat money laundering and terrorist financing across the region. The Middle East and North Africa Financial Action Task Force (MENAFATF) will be set up on November 29 and 30 in a meeting to be held behind…
How Independent are Arab Central Banks?
An article in the Middle east Financial Network says that one way to measure the independence of a central bank is to consider the period of the governor's term and how often it is renewed. A number of Arab central bank governors and their deputies, it…
Iraq war effect on Mideast less severe - IMF
An IMF official told Reuters on Thursday 1 May that the Iraq war was unlikely to have as severe an effect as expected on the Middle East economy because the conflict was relatively short.
IMF reviews book on ME monetary policy
IMF review of 'Monetary Policy and Exchange Rate Regimes - Options for the Middle East', edited by Elina Cardoso and Ahmed Galal
New Middle East development bank proposed
BELGIUM - The European Commission will on Wednesday unveil proposals for a new development bank for Mediterranean and Middle East countries amid a debate over the European Union's political and economic role in the region.
Egypt names deputy c bank head as new chief
EGYPT - Egypt on Tuesday named Deputy Central Bank Governor Mahmoud Abu el-Ayoun as head of the central bank, Egypt's official state-owned Middle East News Agency (MENA) said.
Interview: Jordan's cbank governor Umayy Toukan
The new governor of the Central Bank of Jordan, Umayy Toukan, has given his first exclusive interview since taking up the post earlier in 2001. He was interview by Reuters journalist, Suleiman al-Khalidi, in Amman on Feb 13. In the interview the governor…
Interview with BoI governor David Klein
With the Middle East teetering on the brink of armed conflict, weinterview the newly appointed governor of the Bank of Israel, DrDavid Klein.