CBK governor to head to Riyadh to attend GCC meeting

Central Bank of Kuwait (CBK) Governor Sheikh Salem Abdulaziz Al-Sabah is due to leave, on Sunday, to Riyadh to attend the 12th Gulf Cooperation Countries (GCC) Monetary Council Board meeting which will kick off on Monday.The CBK governor is heading the Kuwaiti delegation to attend this meeting, which will kick off on Monday.The council's meeting will include the Board of Governors of central banks and monetary agencies of the member states of Saudi Arabia, Bahrain, Qatar and Kuwait, the CBK's press release said.It further noted that the meeting will address the ongoing efforts to complete the institutional and organizational structures of the monetary council.It will also follow up on the monetary council's achievements that would enable it perform its assigned functions since it is the core bank in the Gulf region.There will be also a meeting with Directors of the analytical bodies of the member states of the GCC monetary Union in order to discuss means of developing analytical systems to push forward the completion of the comprehensive economical and monetary process in the region.The Monetary Board was created under the monetary union agreement signed between Kuwait and Bahrain, Saudi Arabia, Qatar and the monetary council. It holds at least six meetings annually.