Washington is concerned investigations is fair and transparent with central bank officials

Washington is concerned investigations is fair and transparent with central bank officials

Wednesday 31 v 1 2012 09:51 GMT

Alsumaria News / Baghdad confirmed the United States, Wednesday, support for the independence of the Iraqi Central Bank in accordance with the Iraqi Constitution, as expressed concern reflection ongoing investigations with bank officials adversely relationships bank with international banks other if were not fair and transparent. said the new U.S. ambassador to the Iraq Stephen Beecroft in an interview with a number of media, including “Alsumaria News”, “his country supports independence CBI which is compatible with the Constitution and the laws of Iraq,” noting that it “does not take any position on the ongoing investigations on officials in the bank.” said Beecroft that his “encouraged that this investigation fair and transparent,” expressing his “concern that affects investigations are not transparent in this case negatively on banking relationships for Iraq with banking institutions and international banks.” It was the Supreme Judicial Council announced, in (19 October now), for the issuance of an arrest warrant against former central bank governor and a number of officials in corruption cases. stressed Prime Minister Nuri al-Maliki, in (24 October now), not to link his arrest warrants Central Bank Governor Sinan al-Shabibi, explaining that the turmoil that occurred at the Iraqi currency to stimulate Many regulators to investigate the bank’s activity. and Iraq’s cabinet decided, in (October 16, 2012), the prime BSA Abdul Basit Turki management position central bank governor and agency. and was a member of the investigative about the work of the Central Bank of Haitham al-Jubouri confirmed, in (14 October now) the issuance of arrest warrants and travel ban against Central Bank Governor Sinan al-Shabibi and officials at the bank, and is regarded as the survival of the conservative abroad will prove corruption charges. demanded the Finance Committee in the Iraqi Council of Representatives, (mid-October 2012), indictees bank governor Central providing evidence, while some expressed fear that the accusations were “targeted politically” for the bank. accused the Iraqi List led by Iyad Allawi, in (14 October 2012), some political forces “trying Nile” the independence of the Central Bank of Iraq, arguing that independence Bank necessary to maintain the exchange rate of the dinar and the protection of the currency and prevent inflation, while government held responsible for investigating money laundering and disclosure of beneficiaries. The leader of the coalition of state law, Kamal Saadi, in (17 October now), that advocates of central bank policy are politicians Mentfon of Mzhadath and financiers of “terrorism”, accusing some politicians affected by the suspension of corruption in the bank to stand behind, as he emphasized that the committee formed by House Speaker to investigate the bank’s policy includes the majority of the political blocs. was House Speaker Osama Nujaifi 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” to the importance of the issue. central bank held the Iraqi daily sessions for sale and purchase of foreign currencies with the participation of Iraqi banks, excluding public holidays on which depends the Bank for these auctions, and be sales either in cash, or in the form of remittances sold abroad for a commission certain. mention that the pace of accusations escalated on smuggling currency that overshadowed prices dollar selling in the 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 economic affairs on the positives of the auction to reduce inflation and to control the value of the Iraqi dinar.

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