VOL. XXX

NO. 20

23-FEBRUARY-1987

Financial and Banking News

REGIONAL BANKING

GCC Currency Alignment Takes a Further Step Forward

A committee of GCC monetary experts met in Kuwait on 10-14 February andagreed on the nuts and bolts of the GCC monetary system which was approved inprinciple last month (MEES, 2 February). According to a statement by Kuwait'sCentral Bank Governor, Shaikh Salem 'Abd al-'Aziz al-Sabah, the monetary systemenvisages the creation of a GCC fund which would be equally subscribed...