CBK Governor to head Kuwait''s delegation at GCC monetary meeting

KUWAIT, May 29 (KUNA) -- Governor of the Central Bank of Kuwait Sheikh Salem Abdul Aziz Al-Sabah is due to head the CBK delegation at the nineth meeting of the GCC Monetary Board, scheduled in the Saudi capital Riyadh on Tuesday.
The agenda of the planned meeting includes a long chain of topics, namely follow-up on establishment of the GCC board structure and drafting relevant regulations, as well as seeking aid from international think tanks for the implementation of related strategies, the CBK said in a statement, released on Sunday.
Elaborating, the CBK statement said the agenda also deals with tasks and work plans for affiliate committees and monetary statistical issues in the GCC countries.
The GCC board, which comprises the top monetary authorities and agencies of Bahrain, Saudi Arabia, Kuwait and Qatar, h olds meetings at least six times per year.
The body is mainly tasked with strengthening cooperation among the GCC central banks to pave way for the completion of the GCC monetary union, as well as coordination of monetary policies, as well pondering prospects for the establishment of the GCC central bank.
The Monetary Board was created under the monetary union agreement, signed among Kuwait and Bahrain, Saudi Arabia and Qatar.