Sensitivity of the crisis, the central bank draws the attention of the world .. MPs warn of its impact on the international financial reputation of Iraq

Date: 11/02/2012 08:40:16 Friday



Baghdad (news) / report / Hussein Faleh / .. Become Iraq's international reputation is at stake, as a result of the outcome of the issue of the Central Bank of sacking the province and to bring the number of directors to eliminate charges of financial corruption.

He warned Congress in conversations (of the Agency news) the possibility of vibration international financial reputation of Iraq, calling for the preservation of the independence of the central bank and non-interference from government authorities work, because monetary policy in Iraq sober and achieved great successes in the last period.

"We must deal with the issue of the Central by the committees formed to monitor the work cautiously so as not desecrate the reputation of Iraq international," said MP / coalition in Iraq / Qais Cdhir, noting that longer major financial institution reflects the credibility and transparency of the financial system in the country before the international banks and institutions International Finance.

He Cdhir (of the Agency news): that the financial institution depends on the degree of credibility of the body that deals with, in the case of a lack of confidence in those who hold to manage the Central Bank, it will reflect badly on the financial system in the country, will affect foreign dealings with international banks.

He warned: that the continuation of the current central crisis and recrimination between his administration, is likely to delay the work of a central bank auction and therefore will affect the exchange rate of the dinar against the hard currencies, calling for an end to the crisis as soon as possible to maintain the fiscal policy in the country.

While stressing former Rep., Abdulhadi al-Hassani (of the Agency news) of the futility of dealing with the issue of the Central Bank of way charges for certain people, but there must be a media blackout and did not place them to the media and the government ensures resolve his case peacefully even if there are losses financial, in order to preserve the reputation of the country's monetary policy.

Hassani noted: avoid most Western countries for any defect in the central work their banks and quickly without others knowing, because the central bank is a financial institution designed to stabilize the exchange rate of the national currency against foreign currencies.( all I can say is, yeah right, we know)

The decision of the Economic Commission MP / coalition of Kurdish blocs / Mahma Khalil, praised the performance of the central bank, explaining that he has good cash management with significant financial experience.

He said (of the Agency news): I do not rule out certain people in the central bank, regardless of the fluctuation of the exchange rate of the dinar against the dollar and breaches auction sale of hard currency.

He said: likely to affect the issue of central bank the current financial situation in the country in terms of instability dinar exchange rate and prejudice the reputation of Iraq's international monetary policy, so you should deal with the issue professionally and efficiently away from the emotions, "because it is a sensitive issue and would hurt the balance sovereign of the country "and adult (70) billion dollars.

A member of the Integrity Committee MP / Kurdistan Alliance / Sherif Soliman, went to the federal government is trying to acquire the central bank and lay hands on it.

Sulaiman said earlier (of the Agency news): everyone afraid of the proceedings of this issue, which has become "politicized" and was trying to Atghae formula professional, monitor, calling for the central bank is far from Mhalaot acquisitions as an independent body linked to the House of Representatives only.

While confirmed media adviser to Prime Minister Ali al-Moussawi, said the Cabinet decided to dismiss the central bank governor Sinan al-Shabibi after an investigation by a parliamentary committee on corruption charges in the bank.

Moussawi said: The Council of Ministers tasked Abdul Basit Turki Chairman of the Board of Supreme Audit for the management of the Central Bank until further notice.

And was a member of the investigative committee on the work of the Central Bank of Haitham al-Jubouri confirmed, (14 October 2012), the issuance of arrest warrants and travel ban against Central Bank Governor Sinan al-Shabibi and officials at the bank, and what was seen that the survival of portfolios abroad will prove corruption charges.

Finance Committee has called in the Iraqi Council of Representatives, on Monday (15 October 2012), Central Bank Governor indictees providing evidence, while some expressed fear that these accusations are "politically targeted" for the bank.

The central bank announced in January 2012, that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, in addition to higher sales of hard currency back to finance trade neighboring countries by Iraqi traders, noting that sales of hard currency during the beginning of the current year reached double what was sold during 2011.

And committed the CBI in February 2012 all Iraqi banks participating in the auction for the sale and purchase of foreign currency must disclose its clients as a condition of access to foreign currency.

The anti-money laundering law Iraqi for 2004, a due process of regulatory institutions, especially banking.

It also provides lists of the Security Council Committee No. 1267 of the anti-money laundering law which stipulates that the Central Bank of Iraq have left and to provide financial institutions with a list of individuals and institutions that have the financial institutions to report to the body concerned for the Iraqi government for its dealings when they are discovered.

It is noteworthy that the central bank holds daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, excluding public holidays, which depends where all these auctions, and be sales either in cash, or in the form of remittances sold abroad for a commission certain. / End / 8. D. Q /


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