#####Shabibi: Permit the new central bank governor to reduce the sale price of the dollar is wrong

13-12-2012 | (Voice of Iraq) - Add a comment -
Alsumaria News / Baghdad


Considered former central bank governor issued an arrest warrant Shabibi, Thursday, the decision to authorize the new governor the power to reduce the sale price of the dollar, "wrong", stressing that this economic decision, as he emphasized that the authority of the Board of Directors higher than the authority of the province.

Shabibi said in an interview for "Alsumaria News", "The central bank's recent decision to judge authorizing the new governor the power to reduce the sale price of the dollar is wrong," he said, adding that "the decision to reduce the price of the dollar economic and not administratively."

And authorized the Central Bank of Iraq, in this December 11, governor the power to reduce the sale price of the dollar and of the present 1179 dinars to the dollar, in a move designed to enhance the value of the dinar based on market demands.

He stressed Shabibi "the need to study issues related to monetary policy, including reducing the price of the dollar, as well as follow-up of prices and inflation accurately, must also take into consideration the price developments and exchange rate in local markets", pointing out that it "may not give these powers to one person in a day and night to decide what he wants. "

Shabibi stressed that "the bank's board is to decide this policy after careful consideration as the top in the Central Bank and not the governor."

Shabibi was threatened, Wednesday, resort to "all means" if not resolved his case in Iraq, stressing that it was exceeded immunity bank in the country.

And Prime Minister Nuri al-Maliki, in (5 November 2012), that large warheads will fall in the issue of the Central Bank, pointing out that he is not acting Iraqi funds, but had no information on the size or the location of the deposit.

Referred to the Supreme Judicial Council confirmed, in (19 last October), the issuance of an arrest warrant for the central bank governor and a number of officials in corruption cases.

It is noteworthy that the Iraqi Central Bank was established under the law issued on the sixth of March of the year 2004, as an independent body and is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as regulate the banking sector to promote system competitive and financial independent.

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#######CBI issued a number of decisions for the development of national Alavtsad

Post Admin on Tue 11 Dec 2012 - 2:00

wasaw Baghdad / Obelisk: Bank took place on Tuesday, a number of decisions in an effort to develop its performance in monetary policy and support the national economy in order to ensure the stability of the Iraqi market.



The bank said in a statement received "obelisk" a copy of it, he "took a number of decisions in the framework of the keenness and the pursuit of the Central Bank of Iraq in the development of his tools in the monetary policy and support the national economy the stability of the market."



The statement pointed out that "the bank had decided to encourage Iraqi banks (Baghdad, credit and Mansour) in the first phase and include later all banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose, in addition to the continuation of these banks in the entry window sale of foreign currency (currency auction ). "



The statement added that "the Bank has decided to increase the share auction weekly and granted to exchange companies and money transfer by 100 thousand dollars to exchange companies who increased their capital and the requirements of the Iraqi Central Bank actually to 500 million dinars dinars, while not increasing the quota to 150 thousand dollars for the money transfer companies who increased their capital before the date required by the Central Bank of Iraq actually to fifteen billion dinars. "



The statement pointed out that "the bank also decided to increase the quota to 125 thousand dollars for money transfer companies who increased their capital by the requirements of the Central Bank of Iraq to ten billion dinars."



The statement noted that "the Board of Directors authorized the Iraqi Central Bank Governor the power to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the Iraqi dinar based on market demands."



The CBI said, on the eighth of December, the current, on the application of the plans to control the stability of the Iraqi currency in local markets and the amount of hard currency in circulation.



The central bank held the Iraqi weekly auction of five meetings from Sunday to Thursday for the sale and purchase of foreign currency, and receive a cash commission on the sale and transfers of about 13 dinars per dollar.



The Commission on Public Integrity issued a decision to arrest Iraqi Central Bank Governor Sinan al-Shabibi, on charges of exercise corruption in daily currency auction, with another arrest warrant was issued against the deputy governor of the Bank the appearance of Mohammed Saleh after accusing him of participating in operations administrative and financial corruption in the same file.



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Central respond to Shabibi: devalue the governor and functions in accordance with Article 20 of the Bank Act



Published on Thursday, 13 December, 1/2012 20:11

BAGHDAD / obelisk: Central Bank of Iraq issued a statement in which he responded to the accusations of former governor Sinan Shabibi wrong decisions by the Bank of measures to reduce the exchange rate and referred it to review the law on the Central Bank of Iraq.



The central bank said in a press statement received "obelisk" a copy of "media reported remarks of Bank Governor former Centre Shabibi in which he described the latest decision of the Board of Directors of the Bank Center authorizing the new governor the power to reduce exchange rate Balkhati, and here we would like to point out Article 20, paragraph One of the Central Bank Act, which refers to the functions of the central bank governor as the chief executive and his conduct of daily operations. "



The article also draws according to the press statement attention to "vacation exercise (bank governor) any powers conferred upon the Board of Directors of the Bank governor and so necessary to note the Iraqi Central Bank."



The former central bank governor issued an arrest warrant Shabibi, counting Thursday, a resolution authorizing the new governor the power to reduce the sale price of the dollar, "wrong", stressing that this economic decision, as he emphasized that the authority of the Board of Directors higher than the authority of the province.



Shabibi said in a press interview that "the central bank's recent decision to judge authorizing the new governor the power to reduce the sale price of the dollar is wrong," he said, adding that "the decision to reduce the price of the dollar economic and not administratively."



And authorized the Central Bank of Iraq, in this December 11, governor the power to reduce the sale price of the dollar and of the present 1179 dinars to the dollar, in a move designed to enhance the value of the dinar based on market demands.



Shabibi believes that "the bank's board is to decide this policy after careful consideration as the top in the Central Bank and not the governor."


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