The Gulf Cooperation Council (GCC) is evaluating options to merge the financial markets into a single entity. GCC aims to establish a joint stock market and a joint bonds market. GCC's Director of the Economic Administration at the General Secretariat Abdul Aziz al-Oaishek said that a meeting was held at Riyadh on Tuesday to discuss a study made on this proposal.
Oaishek said that GCC's aims to not just have a single market but also to standardise the procedures and rules and regulations of all GCC markets. The Economic and Financial Cooperation Committee of GCC had commissioned this study.GCC comprises of Kuwait, Bahrain, Saudi Arabia, Oman, the United Arab Emirates and Qatar.