Specialists indicate the current CBI crisis affected the country’s economic activity
Baghdad (News)/report/Hussein Faleh/… Financial policy in the country suffered a severe crisis after accusing the Governor of the Central Bank and some of its employees with financial corruption.
And the Governor was removed and transfer some of the Bank’s managers, said a number of lawmakers and financial experts (News News Agency): the current Central Bank crisis affecting overall economic activity in the country in terms of investment companies ‘ reluctance to enter the Iraqi investment environment and loss of confidence in banks and exchange offices by citizens, as well as to discredit the Central Bank abroad.
The Cabinet decided earlier authorized audit Abdel Basset Turki Department of the Central Bank of Iraq to succeed former Governor Sinan Al-Shabibi.
The decision of the Commission on economy and investment Deputy from the Kurdish Coalition bloc//mohama Khalil, said: the issue of the Central Bank, accused of financial corruption following the entry of foreign companies to invest in Iraq.
Khalil (Agency news (News: foreign investment looking for an environment that contains both a strong banking system to keep their money, noting that the issue of the current Central Bank reflected badly on the financial realities in Iraq, making investors reluctant to enter the country for investment.
He added: the issue of Central Bank also reflected on banking activity through loss of confidence by investors and is high and even funds warheads citizens because some banks accused of colluding with the Central Bank in foreign currency smuggling abroad.
For his part, Prime Minister Nuri al-Maliki told reporters earlier that the big warheads will fall to the Central Bank, and the Bank was refusing to let us know anything, it puts monetary policy and to selling dollars and stir the market and dinar, while the Government does not have any income, he said.
With leader Moqtada al-Sadr’s Iraqi Government interference in the work of the Central Bank without a right which threatened to collapse the country’s economy.
Sadr said, according to a press statement: that the country’s economy is on the verge of collapse, especially after the Prime Minister’s intervention by the Central Bank of Iraq illegally and not, not writers Munir, calling on deputies to work on saving the economy of Iraq.
Former Central Bank Governor Sinan Al-Shabibi, the problems of the Central Bank with the Government at the request of the Government of the Bank’s reserves, and that the case was in the Government and the Bank problems since 2009.
With the financial expert Hamid al-Musawi said, that Iraq lost money as a result of breaches of recent Central Bank action specifically to the sale of foreign currency.
He said al-Musawi (News News Agency): the recent Central Bank crisis Iraq lost many funds as a result of mismanagement of the financial policy in the country, through foreign currency smuggling and money laundering.
He added: the report prepared by the investigative Committee in the House of representatives gave evidence and details of violations in the sale of hard currency, but was supposed to prepare this report early to keep sovereign foreign currency balance.
Financial expert called the new administration for the Central Bank to keep keep the dinar against the dollar and the monetary reserve of hard currency.
Said a member of the Finance Committee Deputy from Kurdistan blocs Coalition//Risalat Najib, recent Central Bank crisis will have an impact on the level of foreign investment to the country.
Najib said (News News Agency): the latest accusation against Central Bank Governor and his aides and some managers in the Bank would have an impact on foreign investment to the country, especially the security and political situation does not encourage investment at this time.
She added: the Central Bank is a financial institution of an international character and cannot be compromised because they are subject to the control and follow-up of the World Bank and the International Monetary Fund, noting that the Bank’s old management was efficient and experienced in the financial area.
He was a member of the investigative Committee on the work of the Central Bank, Haytham Al-Juburi stressed, in (October 14, 2012), the issuance of arrest warrants and a travel ban against Central Bank Governor Sinan Al-Shabibi and Bank officials, said the Governor remains abroad will prove charges of corruption.
And Financial Committee called in the Iraqi Council of representatives, Monday (October 15, 2012), accused the Governor of the Central Bank to provide evidence, as she feared that such accusations “targeted” to the Bank.
The Central Bank announced, in January 2012, the high exchange rate for the dollar against the Iraqi dinar in the Iraqi markets, adding to rising sales of hard currency back to the neighbouring countries of trade financing by traders.