Proposed common currency for Persian Gulf states

This file relates to a proposed common currency for Gulf states. It contains correspondence concerning:

• Indian officials' assurance that there would be no difficulty about redemption at the rate of 13.33 rupees to the pound with regard to Bahrain currency (25)
• Developments after the Dubai meeting on 1 March 1965 and a suggestion to arrange an early meeting of representatives from Bahrain, Qatar, Abu Dhabi, Dubai and possibly the Sultanate of Muscat and Oman, at which R I Hallows from the Bank of England should be present (26)
• Bahrain's acceptance of the main conclusions in Hallows's report and its willingness to participate in a unified currency (27)
• Hallows's views on the best approach to a meeting of representatives from the states concerned (29-32)
• Preparations for a meeting hosted by Bahrain and attended by Hallows, and the question of which states will send representatives (34-36, 40)
• Summary of differences between the draft agreement prepared by Qatar and that of Hallows (37-38)
• Purposes and arrangements of exchange control in the Gulf (41)
• Revised currency agreement and covering note from Hallows to each participating Ruler (43)
• Hallows' report and the agreed minutes of the currency meetings in Bahrain. This was the first meeting of its kind in the Gulf and the first time in 14 years that representatives from Bahrain and Qatar had sat round the same table (44)
• Dr Hasan Kamel's alternative draft agreement tabled by the Qatar delegation (45)
• Advice requested by Hallows on certain points regarding an agreement for submission to the Rulers (46)
• Question of whether Bahrain will negotiate jointly or separately with India over the return of rupees (48)
• Paper received from the American Military Attaché in Beirut, which is a copy of minutes of the unified currency meeting in Bahrain (49)