GCC Monetary Agencies and Central Banks Have Agreed to Establish a Gulf Disbursements Company
The Governors of the GCC monetary agencies and Central Banks have agreed to establish a Gulf disbursements company to facilitate money transactions between them. All members have contributed to the company’s capital and are seeking specialist consultations on the payment system. The company will be headquartered in Riyadh and a secondary office will be based in Abu Dhabi. The aim is to provide a quick and safe environment for financial transactions between them.