Kingdom of Bahrain: jumping the gun in a fiscal policy
The Kingdom of Bahrain has decided to issue a new currency to take place of the Bahraini Dinar (BD) ahead of the proposed date to join up with the Gulf currency - which, is yet to be named - that is set to move into motion, come 2010.
The new currency that has yet to be named and approved, it is said, will have a different signature than the one printed on the current Bahraini Dinar; carrying with it the signature of Bahraini Central Bank which will be established for this exact purpose along with laying out the other basic fiscal policies for the Kingdom.
The question that lies here is if the Kingdom of Bahrain wants to really join the Gulf currency or not, specially after such a short period of changing it's local currency and to what purpose would it serve to change it's own currency now?
The new currency that has yet to be named and approved, it is said, will have a different signature than the one printed on the current Bahraini Dinar; carrying with it the signature of Bahraini Central Bank which will be established for this exact purpose along with laying out the other basic fiscal policies for the Kingdom.
The question that lies here is if the Kingdom of Bahrain wants to really join the Gulf currency or not, specially after such a short period of changing it's local currency and to what purpose would it serve to change it's own currency now?
Post End
posted by Sleepless In Muscat at 2:09 PM
1 Comments:
True why would they want to undergo such huge fiscal changes, the switch in internal currency and consolidation with GCC would mean a lot in terms of policy and procedure making and would impact cross border trade and international transactions
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