The Emirati economist and businessman Khalaf Al Habtoor proposed issuing a unified Gulf currency in cooperation with Jordan and Egypt.
Al Habtoor, who is the Chairman of the Board of Directors of the Emirati Al Habtoor Group, said in a televised interview with the “CNBC” channel, “The UAE and Saudi Arabia are in a strong position, and the Gulf Cooperation Council must put forward a very strong unified currency, which includes later, for example, Jordan and Egypt, but the leadership of the currency is in the hands of the Gulf.
On the other hand, Al Habtoor said that the largest real estate project in the world is owned by his group, and its cost is about one billion dollars, adding that the Al Habtoor Group’s investments in Lebanon amount to 500 million dollars, and the group hopes to return it.
Khalaf Al Habtoor indicated that the best investments at the present time are in Central Europe, and that the European economy is now in danger.
Speaking of financial markets, Al Habtoor said that his group is considering listing in the financial markets every two years, and will enter it at the appropriate time.
It is worth noting that Gulf countries submitted a project for the Cooperation Council regarding a unified Gulf currency between 2009 and 2010, and the UAE was not part of this project, which has not yet seen the light.
This article was originally published by RT.
