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I pray for the day when the GCC currency is up and running. This project have been put on hold for long enough. But I think with the state of things going it will happen sooner than later.
Qatar and UAE Must stop their foolish excuses not to let it happen. UAE stopped its contribution because it "does not like the location of the General Bank" and Qatar is also backing away for some lame excuse. We have been trying to push it for a long time now I really hope that Bahrain will teach them not to say no to the Grand daddy of the GCC anymore.
World oil trade including that of GCC acts as a grantee behind the dollar worth. You think uncle sam would let it happen that easily. It will continute to bribe / intimidate the small states into submission.