In an egoistic move, UAE has pulled out of the proposed GCC monetary union and said it will keep its currency pegged to the dollar, three weeks after it was announced that the bloc’s central bank will be based in Riyadh, Arabian Business reports. Sultan Nasser Al Suwaidi, governor of the UAE central bank, said [...]
UAE pulls out of GCC Monetary Union. Bleak future for Khaliji Predicted
May 20th, 2009 | by Dubai Dude | published in Business in Dubai
Khaliji: Common Gulf Currency to launch in 2010
December 18th, 2008 | by Dubai Dude | published in Business in Dubai, Living in Dubai
Khaliji: Common Gulf Currency to be launched in 2010. Gulf News points: The Gulf common currency is just 12 months away. Economists at the Dubai International Financial Centre have tentatively named the new common currency the “Khaliji”. Although the baptism is not yet officially approved, DIFC economists are hopeful that the proposed name will find [...]