Monetary Union
Saudi Arabia is a member of the Cooperation Council for the Arab States of the Gulf, which planned a monetary union with a single currency by 2010. However, as of October 2012, it remains to be implemented.
Read more about this topic: Saudi Riyal
Famous quotes containing the words monetary and/or union:
“There is no legislation—I care not what it is—tariff, railroads, corporations, or of a general political character, that all equals in importance the putting of our banking and currency system on the sound basis proposed in the National Monetary Commission plan.”
—William Howard Taft (1857–1930)
“At all events, as she, Ulster, cannot have the status quo, nothing remains for her but complete union or the most extreme form of Home Rule; that is, separation from both England and Ireland.”
—George Bernard Shaw (1856–1950)