A decision to establish a Gulf monetary council in preparation for the establishment of a joint central bank and later a single Gulf currency was agreed upon on Tuesday by central bank governors.
Kuwait's top banker, Shaikh Salem Abdul Aziz Al Sabah, reveals to <i>KUNA</i> that operations for the proposed council would begin in 2008, reported <i>Gulf Daily News</i>.
GCC central bank governors met in Abu Dhabi to discuss the council's establishment as well as fiscal policies of the six-nation bloc.
