Salman al-Musawi: House of Representatives does not have the capacity and appropriate mechanisms to monitor the performance of the Central Bank

Thursday, 09 August / August 2012 11:56


{Baghdad, Euphrates News} A member of the Committee on Economy and Investment parliamentary Salman al-Moussawi from the inability of the House of Representatives to monitor the performance of the Central Bank because of his lack of experts in financial management and banking.

Moussawi said in a press statement received by the Euphrates {News} a copy of it today that "the central bank governor Sinan Alchbibi rejected earlier that the central bank is subject to the supervision of the executive branch as an independent body and that the Constitution make the control of the central bank linked to the Council of Representatives."

He said al-Musawi, "the lack of an appropriate mechanism with the Council to monitor the performance of the bank which led to the occurrence of errors appear from time to time," adding that "the control of the Bank need to be experts in financial management, banking and specialized accounting, which is not owned by the parliament."

He stressed the need for "the control of the central bank shared between the legislative and executive branches of the importance of this joint, which is the pillar of the foundation in the development of fiscal policy of the country and if they signed any error, it will reflect negatively on the Iraqi street, stressing that the executive branch has the people Mokhtsaan in this area as well as appropriate mechanisms for follow-up. "

He said Moussaoui "We asked for more than once that the interaction of the bank directly with the importer by the Iraqi import license through the opening of a credit to him, and be accountable for the goods entering the country, but the bank deal with a limited number of banks and do not know the mechanism of this deal so far." Ended m


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