Progress on Gulf currency modest

[arh777]

Progress on Gulf currency modest

Reuters

Kuwait City: The six Gulf states have made only modest progress towards laying the ground for a planned single currency by 2010, Kuwait's central bank chief said in an interview published yesterday.

http://www.gulf-news.com/Articles/BusinessNF.asp?ArticleID=166180

[arh777]

Kuwait will let more banks into the country

Reuters

Kuwait City:
Kuwait will allow a limited number of international banks and five Gulf banks to open branches under a plan to open up its banking sector, the Governor of the Central Bank of Kuwait said in press remarks yesterday.


http://www.gulf-news.com/Articles/BusinessNF.asp?ArticleID=166213

[arh777]

GCC unified currency in five years - GCC official

ECO-EGYPT-GCC-OFFICIAL
GCC unified currency in five years - GCC official

CAIRO, May 26 (KUNA) -- Governor of the Bahrain Monetary Agency, Rasheed Al-Miraj said Thursday that the GCC unified currency plan is proceeding according to the set program, to complete in 2010

http://www.kuna.net.kw/home/Story.aspx?Language=en&DSNO=736846

[Tinydancer]

If that is the plan, then I suppose our dinars will be? Just collector items, or a major waste in someone's money to have made the dinars to begin with?

..............or does it mean the dinars will go into circulation and be viable for a short, few year time frame.........until a single currency is established?

can anyone speculate on that?

[Chaka]

If that is the plan, then I suppose our dinars will be? Just collector items, or a major waste in someone's money to have made the dinars to begin with?

..............or does it mean the dinars will go into circulation and be viable for a short, few year time frame.........until a single currency is established?

can anyone speculate on that?
TD,

first iraq has to join the GCC for this to be relevant
2nd if you have a warka acct - currency in acct is automatically converted
3rd you'd have time to exchange

most likely for many this is irrelevant as they will cash out long before the 5 years is up

[sprtbuf]

well said...