Central Bank of GCC Gulf Cooperation Council Assignment

Central Bank of GCC Gulf Cooperation Council - Assignment Example that the framing of effective monetary as well as fiscal policies will be one of the prime aspects to be taken into concern while designing the structure of GCC Central Bank. From the conduct of various studies, it can be found that the objectives and the functions that hold by GCC Central Bank will significantly lead the economies of the respective Gulf nations to attain immense growth. The Central Banks belonging to varied nations have been playing a decisive part in the developmental process of economies for numerous years. These sorts of financial intermediaries aid in progressing the economies of respective nations in terms of recognizing adequate monetary flow. It is worth mentioning that Central Banks not only look upon stabilizing the monetary policies, but also focuses on maintaining internal monitory stability by controlling the inflationary pressure. This inflationary pressure is mainly created owing to the persistence of inelasticity in adequate monetary transactions (Bank for International Settlement, 2009). The Gulf Cooperation Council (GCC) is principally viewed to be a political and economic association, which mainly regulates the financial policies of six Gulf countries of Middle East. From a historical perspective, it will be vital to mention that GCC was mainly established in the year 1981in Riyadh, Saudia Arabia. It operates in six Gulf countries namely Saudia Arabia, Kuwait, United Arab Erminates, Qatar, Bahrain and Oman. Specially mentioning, the monetary policies and the economic growth of these Gulf countries are not regulated by the Central Bank (Sturm et al., 2008). With this concern, the assignment intends to conduct a comprehensive analysis of GCC Central Bank with considering varied significant aspects. These aspects comprise recommending the structure of GCC Central Bank, identifying similarities or differences with that of the European Central Bank and assessing the imperative functions as well as objectives of the same. While