********Central Bank denies the issuance of arrest warrant reminder governor and confirmed his participation in the conference out of the country

Okay, time will tell, lets wait and see what is going to take place!



Sunday, October 14 / October 2012 - 12:24

Central Bank Governor Sinan al-Shabibi

(Alsumaria News) BAGHDAD - denied the Iraqi Central Bank, Sunday, reports that an arrest warrant was issued against the governor Sinan al-Shabibi and his escape out of the country, while stressing that the governor is currently involved in an annual conference in Tokyo.

A spokesman for the central bank said in an interview for "Alsumaria News", "The news reported by some media for the issuance of an arrest warrant for Central Bank Governor Sinan al-Shabibi and his escape out of the country are unfounded."

The spokesman confirmed that "Shabibi is currently involved in an annual conference to be held in Tokyo and will return to Baghdad on Monday."

The Iraqi List, led by Iyad Allawi accused, on Sunday, (14 October now) some political forces "trying Nile" the independence of the Central Bank of Iraq, arguing that the independence of the Bank are necessary to maintain the exchange rate of the dinar and the protection of the currency and prevent inflation, while government held responsibility investigation into money laundering and disclosure of beneficiaries.

And Shabibi took office as Governor of the Central Bank of Iraq since 2003, the text of the decision of the Federal Court by linking independent bodies of the Secretariat of the Council of Ministers and not the parliament.

The head of the House of Representatives Osama Najafi revealed, in (7 October 2012), the existence of suspicion of corruption in the work of the Iraqi Central Bank, while noting that the Council proceeded to achieve "depth" in the policy of the central bank since 2003, vowed to pursue the investigation "personally "the importance of the issue.

The MP for the coalition of state law Haitham al-Jubouri in (12 August 2012) for the formation of an investigative committee will visit the central bank and look at the records and the numbers, sales and people who earn hard currency, noting that the work of the investigative different from the Commission's work regulatory Council approved formation , which includes the heads of the financial and economic committees and BSA.

Shabibi threatened, in the 12 of October now, raise issues in the competent courts on all sides by Chen distorted media campaign against the central bank.

The Central Bank of Iraq announced, (11 August 2012), the high reserves of hard currency to $ 67 billion, confirming that these reserves are the largest in the history of Iraq, pointing out that these reserves is one of the monetary policy to reduce inflation in Iraq.

The central bank held the Iraqi daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a commission certain.

It is noteworthy that the pace of accusations escalated on smuggling currency that overshadowed selling prices dollar in local markets and led to increased exchange rate months ago, while deputies asked the need to take the initiative on the government to stop selling the currency in auctions the central bank, others stressed that Iraq is losing substantial funds by smuggled daily out of the border, despite the praise of many specialists in economic affairs on the positives of the auction to reduce inflation and to control the value of the Iraqi dinar.




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