Problems at CBI to harm foreign investments, says Najeeb

Baghdad (AIN) -MP Najiba Najeeb, member of the Parliamentary Finance Committee stressed that the recent problems at the Central Bank of Iraq will affect the investment sector in the country.

Najeeb stated to AIN that “The Central bank of Iraq is a board of an international character because it is responsible for the monetary policy in the country and monitored by the world monetary institutions,” confirming that “The recent escalation against the CBI will negatively impact the foreign investment in Iraq especially because the current tensed political and security situations do not encourage the investments.”

“The success of the new administration of the bank, and the ability to manage the currency markets besides raising the price of the Iraqi dinar against the US dollar and preventing the entry of counterfeit currencies to the Iraqi markets all depend on the future policy of the bank,” she added.

Earlier, the Council of Ministers has decided to commission head of the Financial Supervision Office, Abdul Basit Turki to assume management of the CBI to succeed the bank’s former governor, Sinan al-Shibibi.