-LRB- JD -RRB- : I would imagine as a retail operation you 'd be a huge proponent of a single currency within the GCC . Is it realistic within the next 4 to 5 years ? -LRB- MA -RRB- : I think it can be , as long as there is a will of the leaders to get together and decide . It is a huge leap towards efficiency , conciliation , getting closer between the six countries . One single Central Bank that governs and regulates is much better than the current six , I believe . -LRB- JD -RRB- : Have you ever done any calculations of what impact it would have on your back office operations ? -LRB- MA -RRB- : Not yet , but it will be great , I think . -LRB- JD -RRB- : You 're one of the largest retail operations throughout the Arabian Peninsula . With all this growth that we 're seeing right now , it must have a direct impact on the retail sector . What sort of annual growth are you experiencing ? -LRB- MA -RRB- : We 're experiencing close to 25 percent annual growth , if not
-LRB- CNN -RRB- -- Mohammed Alshaya owns more high street brands than most fashion addicts could stuff in their closets . Mohammed Alshaya , CEO of Alshaya 's retail division , tells MME he sees a new mindset in the Gulf Topshop , Coast , NEXT and River Island are just some of the big names he 's imported from the United Kingdom to shopping centers in the Middle East . As chief executive of M.H. Alshaya , he knows what sells : tried and tested Western brands that will appeal to local shoppers . And his empire is not limited to clothing . In the past month , he 's taken Mothercare and The Body Shop to Central Eastern Europe . With the addition of the Czech Republic , Hungary and Slovakia , M.H. Alshaya now operates in 16 markets including Saudi Arabia , Kuwait , United Arab Emirates , Bahrain , Qatar , Oman , Lebanon , Jordan , Egypt , Cyprus , Turkey , Poland and Russia . John Defterios spoke with Mohammed Alshaya , and started by asking him for his thoughts on the Gulf Cooperation Council -LRB- GCC -RRB- plans for a single currency .