Oman will not reject a common Gulf currency

The director of the Central Bank of Oman in a statement said that a common Gulf currency is no longer a matter of dispute and it would only be a matter of time before one is implemented, Asharq Al-Awsat reported yesterday.

Despite the fact Oman is not one of the countries pushing for a common currency; Hamood Bin Sangour Al-Zadjali has stated that serious measures are being assessed to achieve the prospect of a common currency.

“Gulf countries enjoy an excellent financial reputation, national debt of Gulf countries remains at its lowest rate compared to other countries. Gulf countries have a distinguished ability to carry forward their financial commitments,” Al-Zadjali said.

He also announced that the Central Bank of Oman will allow local banks to expand into other GCC states, should they choose to.