Launch of GCC common currency to be delayed

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“I don’t think the deadline of 2010 to launch a common regional currency can be realistically met,” Dr Nasser Al Qaood, Assistant Secretary-General at the Secretariat, said.

According to him, the monetary union which is to be set up by the end of this year, will set the new time table for the launch of the currency.

The union is also entrusted with the task of launching the common currency. The daily said Qatar is among the GCC member-countries which is bidding to be the venue for the headquarters of the proposed regional central bank.

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