Al-Shabibi: return to Baghdad to demonstrate documents confirming two of them
Results 1 to 2 of 2

Thread: Al-Shabibi: return to Baghdad to demonstrate documents confirming two of them

  1. #1

    Al-Shabibi: return to Baghdad to demonstrate documents confirming two of them

    Al-Shabibi: return to Baghdad to demonstrate documents confirming two of them

    Writings Monday, October 22, 2012
    The Governor of the Central Bank pulled his hand from Office and issued arrest warrant from Iraqi judicial Sinan Al-Shabibi said he has documents proving his innocence of the charges, saying his return to near Baghdad. With expert opinion to replace Al-Shabibi Government step aims to strengthen government influence in the institution's cash for months resisted attempts to drag some FLAC.

    Al-Shabibi said from his residence in Sweden will return to Baghdad "in the next few days wesabrr the charges against me," "possession documents proving his innocence about all maishaa."
    As called "Al-Shabibi dimensions of Central Bank policy" fussing in features & status of the Iraqi media network that "absolutely not consider not subject to court integrity and process understanding in Central Bank policy".
    The Government stressed it did not dismiss Bank Governor Sinan Al-Shabibi but had been disqualified until the judicial investigation. The Government says that article 340 of the Penal Code of 1991 State officials allow withdrawal by employee if I went against him charges until that separates the judiciary.

    The Cabinet had earlier voted to entrust the President of the Office of financial supervision of Abdel Basset Turki Central Bank Management Agency rather than former Governor Sinan Al-Shabibi.
    A parliamentary Committee was announced on the 7th of this month for the most outstanding recommendations that focused on two essential points first is the information base on the mechanism used to Bank in Iraq, and the second relates to tighten controls on private banks dealings with customers. The Central Bank has an information base for only 5% of the spent money causing the widening of the gap between the Iraqi dinar and the dollar. "
    Tasks of the Central Bank to maintain price stability, monetary policy implementation, including exchange rate policies, management of foreign currency reserves, issuance and management of currency, in addition to regulating the banking sector.

    Al-Maliki sought to put the Central Bank under the hegemony of
    He said experts in replacement of Central Bank Governor in Iraq, Government step aims to strengthen the influence of the Executive power in this institution cash for months resisted attempts to drag some FLAC.
    In contrast, the Government asserts that Parliament alone responsible for this issue, and that the decision to oust Central Bank Governor based on judicial data and does not fall under the category of trying to dominate the institution.
    The Government last week announced the replacement of Central Bank Governor Sinan Al-Shabibi President audit Abdel Basset Turki, who will manage the Bank temporarily.
    The decision came after against Al-Shabibi, Economist, born in 1942, who runs the Central Bank since 2003, a judicial arrest warrant against the background of the results on the possible reasons for the declining value of the currency.
    Says Gus Hiltermann, Deputy Programme Director for the Middle East and North Africa at the international crisis group, told AFP that the Government "will move (against Al-Shabibi) is part of its efforts to eliminate corruption" rampant in the country.
    "It looks like he trying to control these independent institution, even though there are specific allegations. By incorrect factors, it is difficult to ascertain due to impurities in the Iraqi judiciary. "
    The dollar saw in April to its highest level in nearly four years dinar in local markets is 1320 dinars per dollar, after that was stable at 1230 dinars to the dollar.
    The Cabinet then rushed to announce the formation of a Committee to study the Iraqi dinar exchange rate volatility.
    Al-Shabibi said then that "the political situation relatively unstable in Iraq and in the surrounding area have created a high demand for the dollar has led to high exchange rate for this currency."
    And the Chairman of the Economics Department at Al-Mustansiriya University, Abdul Rahman Al-Mashhadani "charges Al-Shabibi are incorrect because Mr. Alshabibi known economist and good reputation".
    "Corruption may exist in the Central Bank but not at the level of the top leadership, but at a lower level."
    Al-Mashhadani notes that "the Government is trying to seize since 2008 on the Central Bank, one of the reasons behind the Bank's monetary policy is inconsistent with the Government's financial policy."
    The Federal Supreme Court issued on 18 January 2011 a decision to link the Central Bank Council of Ministers citing "predominance of operational status of the Bank and its activities".
    Al-Shabibi warned after this decision risks applied that Iraq would lose responsibility for protecting his money abroad, he said.
    In contrast to accusations the Government is trying to seize on the Central Bank, says Ali al-Mosawi, a top aide to the Prime Minister that "the institution that issued the report on Central Bank legislative institution, i.e. Parliament," hinting that the current investigation started parliamentary integrity Commission.
    Explains al-Musawi told AFP that Parliament "which referred the case to the Commission of integrity" official dealing with combating corruption in government departments, adding that "the Government did not pass the report (parliamentary) up."
    Musawi believes that "regardless of the position of the Government, the person who recognizes the job is known for his integrity, chairs the oversight institution, but is the oldest and regulatory institution of international repute", and this was confirmed by Al-Mashhadani.
    These developments came at a time when Iraq still live to the consequences of a political crisis erupted in Iraq on the eve of us military withdrawal at the end of last year, and focused on accusing Prime Minister Nuri al-Maliki to control the power and the marginalization of other components.
    Herltrman finds that the replacement of Al-Shabibi "good step".
    And explain that this issue, which could create a new crisis, comes "at a time when the country was preparing for elections" are the provincial councils elections in 2013 and legislative elections the following year.

  2. #2
    Join Date
    Jul 2012
    The wild, wild west.
    Thanks for this important news story.

    Could you look to find the link.. TYIA.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts