UAE not looking at rejoining Gulf union, says CB governor

16 February 2010

The UAE's central bank governor, Sultan Nasser al-Suweidi, has said the country is not discussing whether to rejoin the planned Gulf monetary union at this point, Reuters has reported. Muhammad al-Jasser, governor of the Saudi Arabian Monetary Agency (SAMA) told reporters on Sunday he had not lost hope of Oman and the UAE returning to the fold. The UAE pulled out of the project in May 2009, three years after Oman did the same, in protest at a decision to site the joint central bank in Saudi Arabia.

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