Saudi Arabia
Gulf to make dollar peg to monetary union-report
BAHRAIN - Members of the Gulf Cooperation Council have agreed to adopt the U.S. dollar as the sole peg for a proposed single currency for the group, senior GCC official said in remarks published by Bahraini newspapers on Apr 22.
Qatar comes to defence of Lebanese pound with $60m
LEBANON - Qatar joined a Gulf Arab consortium in defending the Lebanese pound by pledging to deposit $60 million with Banque du Liban, local newspapers said on Apr 18.
Oman $50 million boost for Lebanese cbank reserves
LEBANON - Oman deposited $50 million with Lebanon's central bank on Apr 6 to boost foreign currency reserves and to express its support for the government's economic measures, reported the local Daily Star newspaper.
Pakistan says Islamic banking won't hit accords
Military ruler General Pervez Musharraf said on Feb. 12, 2001 that Pakistan's plans to introduce interest-free Islamic banking would not affect the country's international financial dealings and accords.A government statement quoted him as giving the…
Oman cenbank plans Electronic Fund Transfer system
Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.
SAMA introduces sliding brokerage fees
The Saudi Arabian Monetary Agency has introduced a new sliding scale of brokerage fees taking effect from 1 January 2001.
Saudi Arabian Monetary Authority
The Saudi Arabian GDP expanded by 8.8% in nominal terms in 1999, amid strong oil prices since April last year, the central bank said in its annual report.