Khaleeji (currency)

The concept

The Khaleeji (ArB|خليجي) is a proposed common currency of the member states of the GCC or Cooperation Council for the Arab States of the Gulf. The term 'Khaleeji' is Arabic for "of the gulf", and is traditionally associated with the Arab states of the Persian Gulf. There is, however, no official name as of yet.

A Latin-styled currency symbol has been developed by corporate branding company INCIDE, consisting of the letter G overlaid with a vertical bar. [ [http://www.gulfcurrency.org] ] Several names are being deliberated on an open forum [. [http://raadzaak.com/main.php?showpost=123&start=21&fld=] ]

Adoption

The currency, when adopted as planned in 2010, will be sole legal tender in Saudi Arabia, Kuwait, Bahrain, Qatar, and the United Arab Emirates. Oman has stated it will not be able to adopt the new currency at the onset. In addition, Yemen is slated to join the Gulf Cooperation Council by 2016, although it will not adopt anytime soon.

Also see

Euro, European Union's common currency.

Amero, proposed North American currency union.

African Central Bank, proposed central bank for the African Union.

Eco, another attempt at an African common currency, within the ECOWAS community.

The West African CFA franc and Central African CFA franc (C.F.A.), both of which are exsisting currency unions in Africa.

The Asian Currency Unit, between ASEAN, China, Japan, and South Korea

Monetary union.

External links