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

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

12/14/2012 (23:00 pm)

BAGHDAD / agencies

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.
The Central Bank of Iraq 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.

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