An important step has been taken towards a united currency for Gulf States following a decision to establish a committee to investigate the details of the move.
"It has been decided to recommend formation of a technical team to determine the specifications, denominations and the launching mechanism," said a UAE Central Bank statement, according to <i>Gulf News</i>.
The statement was made recently at the 15th meeting of the GCC Technical Committee for the Monetary Union.
Held in Abu Dhabi, Sultan Bin Nasser Al Suwaidi, governor of the Central Bank, chaired the important meeting.
