Shabibi accuse al-Maliki of trying to control the cash reserve

Looks like Shabibi is not going to come but unless the Iraqi Judiciary removes the arrest warrant, and he is trying to defend himself in the papers instead of going to Iraq!




The time on Saturday, October 10 2 / November 2012 11:50

Baghdad / Orr News

Accused Iraqi Central Bank Governor article Shabibi government authorities threatened the independence of the Bank in order to control the reserves. Shabibi rejected the accusations against him, in particular "mismanagement of funds and failure to work," he told "Agence France Presse" of Geneva, has "were trying to عزلي since 2009 and they want money from central bank reserves."

"I think that the main problem, basically, is the reserve, because they believe that we have a lot of reserves and they want to use for funding. Government wants money from the Central Bank and the Central Bank Law does not allow it." "I definitely say that there are differences in the exchange rate policy. Do not think that these differences require dismissal of the central bank governor."

Shabibi refused to name any government official, but said, "They were talking constantly about how they should supervise the monetary policy and decide a lot, a lot, a lot of this policy and all these things."

Shabibi said he planned to return to Iraq to face the charges against him, after the cancellation of the arrest warrant against him, pointing out that the government can not be sacked because this is still the validity of Parliament. He also rejected Shabibi accusations of currency manipulation and mismanagement, compared to a slight change in the value of the Iraqi dinar against major changes in the value of the dollar or the euro.

Shabibi said "I told them (the government) that the central bank was not the reason for this volatility, it is part of the average we have succeeded in the end in stabilizing the exchange rate, and the difference 2 or 3 per cent only." He continued, saying, "I told them, just go to Europe now and see the difference" in exchange rates.

He added that they "were unaware of the stability of the exchange rate (in recent years) and then used it against the Central Bank. They did not find any errors or problems and they said this is a problem and described the failure of the Central Bank." He said he did not know how long accusations against him, but added, "Let them wait and see," he said, adding his confidence in his style.

The Iraqi government decided to end the October appointment of Supreme Audit Abdul Basit Turki, rather than Shabibi, after criticism by the parliamentary Finance Committee relating to the mismanagement of the funds were directed to Shabibi and other bankers officials. The prices of the Iraqi dinar exchange rates roughly stable against the dollar over the past few years. In conjunction with the accusations of rigging in the exchange rate of the dinar, raised fears of exploitation of auctions held by the Central Bank of Iran and Syria to support its foreign exchange reserves, which was denied by the central bank. And have taken strict measures during 2012, banks impose a definition for procuring entities of foreign currencies.


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