Gulf elected first chairman of the Monetary Board.

<P> To issue unified currency in the Gulf Gulf Monetary Council 30 in Riyadh, Saudi Arabia held its first meeting, the Saudi Monetary Agency (Central Bank) Director Mohammad Jia Hill was elected to the Board in the first .President. .</ P> <P> Jiaxi Er as the first Chairman of the Committee for a term of one year, Bahrain central bank governor, was elected Vice-Chairman Rashid Mara Kyrgyzstan. .</ P> <P> from Saudi Arabia, Kuwait, Qatar and Bahrain's central bank governors of the four countries discussed at the meeting that day to accelerate the pace of a unified Gulf currency of specific measures. .</ P> <P> by the Saudi Arabia, Kuwait, Qatar, Bahrain, Oman and United Arab Emirates composed of six-nation Gulf Cooperation Council (GCC) was established in 1981. .To promote regional economic integration, the GCC decided in 2001 to establish monetary union in 2010 and released the single currency. .</ P> <P> 2009 年 6 月 GCC central bank decided to headquarters the next Gulf in the Saudi capital Riyadh, the United Arab Emirates withdrew from the monetary union. .And Oman in early 2007 to early economic conditions are not suitable for its own, citing temporarily to participate in monetary union. .Therefore, the current of the Gulf monetary union by the Saudi Arabia, Kuwait, Bahrain and Qatar composed of four countries. .</ P>.