Speaking at the occasion, the Governor of the Central Bank, Riad Salameh, said that establishing the unified Arab currency starts with a political decision. The process “should be implemented gradually and must take its time,” he said.

Salameh said that enhancing the payment systems between Arab states and unifying and developing the Arab stock exchanges, and adopting laws that encourage money transfers are ways that pave the way for implementing the unified currency.

“Arab countries should establish a solid economic cartel similar to the Asian and European cartels that currently decide the economic future of the world," Salameh said. Such a cartel, would, according to the governor, solidify the Arab World’s position, and will boost its influence on decision making.
 
The head of the General Union of Arab Chambers of Commerce, Minister Adnan Kassar, said that establishing a unified currency for all Arab countries is vital to limit the Arab World’s exposure to financial crises, whether internal or external.