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Agreement on monetary union of Gulf Cooperation Council countries signed
Saudi Press Agency Published in Saudi Press Agency on 07 - 06 - 2009

Foreign Ministers of the Kingdom of Saudi Arabia, Qatar, Bahrain and Kuwait signed here today the agreement on monetary union of Gulf Cooperation Council countries.
The agreement was signed for the Saudi side by Prince Saud Alfaisal, the foreign minister.
The signing ceremony was attended by Prince Miqrin bin Abdulaziz, Chief of General Intelligence, and other senior officials.
Following the signing, Secretary General of the Gulf Cooperation Council Abdulrahman bin Hamad Ala'ateyah made a press statement in which he hailed the singing of the 28-article agreement which sets features of the unified currency zone and monetary union institutions.
The unified GCC currency will be pegged to the dollar and has not been named yet, Ala'ateyah said.

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