SALALAH: Jassem Albudaiwi, head of the Gulf Cooperation Council (GCC) has said that the Council Committee of Central Bank Governors has a key role to play in attaining economic integration and interconnection between member nations, particularly in terms of the contributions to the banking and financial sectors, Arab News reported on Wednesday.
GCC Chief Says GCC’s Committee of Central Bank Governors Has Key Role in Economic Integration
The GCC chief comments came during the 81st meeting of the committee, which was held in the city of Salalah in Oman. The meeting was presided over by Sayyid Taimur bin Asa’a, chairperson of the board of governors of the Central Bank of Oman.
Albudaiwi lauded the efforts of Oman’s Sultan Haitham bin Tariq and chairperson of the current session of the GCC Supreme Council, for his efforts to strengthen the GCC.
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During his speech, Albudaiwi also highlighted subjects that have been discussed and also decisions made by the GCC during recent meetings, the most recent of which was their 18th consultative meeting in Jeddah in July. They recent session focused on economic matters and efforts to set up the GCC Customs Union and Common Market, with the aim of attaining economic unity by 2025 through greater integration, coordination, and interconnection.
He added that the agenda for the governors’ committee session included suggestions on payment systems in GCC nations by teams working under the supervision of the committee.
