UAE won’t join monetary union: Al-Suaidi

07 Dec 2010

(MENAFN) The Governor of the UAE Central Bank said that the country has no intention to join the Monetary Union of the Gulf Cooperation Council (GCC), Reuters reported.

The UAE stance remain unchanged, Sultan Al-Suwaidi told a news conference on sidelines of the GCC summit in Abu Dhabi.

Kuwait, Saudi Arabia, Qatar and Bahrain have so far joined the Monetary Union. The UAE and Oman have not. The six countries make up the GCC.

The UAE does not think it is the appropriate time to discuss the common currency and it wishes the very best of luck for the GCC countries in this project, he said in reference to the four countries.

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