With global concerns over rising oil prices, this book examines the major issues facing the economies of the Arab Gulf today, covering all six of the Arab Gulf Cooperation Council (AGCC) states: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Providing a detailed account of the central features of the economies of the Arab Gulf, this book draws out the critical trends that will shape the region in future years. It includes an in-depth analysis of topical issues, such as the AGCC monetary union, intra-AGCC national labour movement, Islamic banking and programmes to finance small and medium-sized enterprises (SMEs). The book: assesses the costs and benefits of the proposed monetary union, assessing whether AGCC economic structures have converged sufficiently, and whether these economies have the internal flexibility necessary to make the union work effectively; investigates intra-national labour mobility in the context of the forthcoming monetary union and identifies the most crucial features in a successful common AGCC employment strategy; considers the fortunes of the prominent Islamic banks in the region; examines the impact on liquidity of the external economic environment and regulatory policy; and contrasts and compares some of the major SME financing schemes, focusing in particular on SME financing in Oman.