It is important to have GCC’s executive body completed, prepare monetary and administrative regulations for current financial year, it said.
It noted to the efforts directed towards assigning a temporary building for the council in Riyadh whereas the permanent one will be based at King Abdullah Financial District in Riyadh.
A study on the use of credit cards for the year 2009 was presented in this month’s issue, it showed that the use of credit cards in transactions had increased though the number of cards issued had decreased.
It touched on the symposium organized by the Institute of Banking Studies on arbitration with the financial crises.
It presented an interview with a British expert in banking and financial affairs David March who said that it is too early for the unified GCC currency to be issued as a number of requirements must be met before launching it.
Upon issuing, unified currency would be backed with huge assets and petroleum resources at USD trillion to one and a half trillion and would empower the GCC regionally and internationally.
He called upon GCC countries to take it slowly adding that some compromises are to be taken on order to boosts inter-GCC trade.
