GCC nations to hold poll for naming new currency

Four Gulf oil producers are planning to conduct an opinion poll on the name of the new currency that will form the backbone of a landmark monetary union which they could launch next year, a Saudi Arabian newspaper reported yesterday.

While there is a tendency by Saudi Arabia, Bahrain, Kuwait and Qatar to name the new currency the Gulf dinar, the four nations will still push ahead with a referendum-like survey before they decide its name, the Riyadh-based Aleqtisadiah newspaper reported, quoting sources close to the monetary union. Source