Kuwait, one of four Gulf states to sign a pact to launch a monetary union and single currency, has called for a delay in the 2010 launch date, citing incomplete preparations.

'The ministry of finance calls for revising the target date for launching the Gulf single currency until all committees and parties concerned have completed technical issues,' the ministry said.

The ministry, however, still expressed the support of Kuwait for the project, according to a report in our sister newspaper Gulf Daily News.

Kuwait, Saudi Arabia, Qatar and Bahrain in June signed an accord to create a joint monetary union council, a prelude to establishing a Gulf central bank and launching a monetary union and single currency.

The remaining two GCC members - the UAE and Oman - did not sign after deciding to withdraw from the project.

The UAE was upset at the selection of the Saudi capital Riyadh to host the future GCC central bank, while Oman withdrew from the monetary union saying it was not ready to meet the preconditions.

Kuwait is due to host the forthcoming GCC annual summit in December which is expected to take a decision on the single currency.