UAE Central Bank Governor Sultan bin Nasser Al Suwaidi has admitted the 2010 deadline for GCC monetary union is 'unlikely' to be met, reported Gulf News. Al Suwaidi said the formation of a common GCC market was proving difficult with issues such as company land ownership, the opening of banks and stock investments remaining unresolved. Al Suwaidi said a common market must be formed before the introduction of a common currency. [AMEInfo.com]



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Posted: 09|29|07 at 4:41 am. Filed under: News.