Middle East Economic Survey

VOL. LIII

No 19

10-May-2010

MEES Agenda

GCC Monetary Union Moves Forward, But Momentum Weak

The Gulf Cooperation Council (GCC) monetary union made a significant step forward in March, when the Governor of the Saudi Arabian Monetary Agency (SAMA) Muhammad alJasir and the Governor of the Central Bank of Bahrain, Rashid alMaraj, were elected respectively first chairman and deputy chairman of the GCC Monetary Council (MEES, 5 April). However, the four member countries of...