Business expectations for a common currency in the Arabian Gulf

الملخص EN

This paper presents the results of the first survey designed to ascertain the opinions of businesses regarding the proposed Gulf Cooperation Council Monetary Union (GCC MU).

Overall, businesses are in favour of the project and expect it to have a positive impact, but they consider non-monetary factors to be more significant to their future growth.

Nevertheless, businesses are not prepared for the single currency.

Regional institutions have yet to provide any business-centric information regarding a common GCC currency.

The paper contends that if participating governments do not start making policy preparations soon – not the least assisting businesses to prepare – then the existing positive sentiment may erode.