House of Representatives says central bank governor

04/11/2012 0:00

To study the high exchange rate of the dollar against the dinar 
Baghdad – Al Sabah 
House of Representatives decided to host the Iraqi Central Bank Governor Sinan Shabibi in a special session to discuss the high exchange rate of the dollar against the dinar. 
has received the Speaker of Parliament Osama Najafi in his official yesterday, Shabibi, and reviewed with him the economic situation and the reality of the work of the Central Bank. 
said Najafi During the meeting, «should be a central bank independent and …responsible according to the provisions of Article (103) of paragraph (2) of the Constitution, as well as Article 2/2 of the Law on Central Bank of Iraq 56 of 2004, which states that:« In order to achieve goals of the Iraqi Central Bank and the completion of his duties, the Central Bank of Iraq independent and responsible as provided for by this law. Except as otherwise set to this law, will not receive the CBI instructions from any entity or person or institution, including government institutions. And we will respect the independence of the Central Bank of Iraq can not be anyone of influence and improper for any member of the decision-making body in the Central Bank of Iraq during the performance of his duties in the bank, or to interfere in the activities of the Central Bank of Iraq ». He said Najafi, according to a statement issued by his office received the «morning» copy of it yesterday, to «support the House of Representatives absolute work of the central bank according to the Constitution and the law, stressing the need to continue to the Central Bank with the parliamentary committees relevant to discuss and clarify the problems that plagued Iraq in the areas of monetary policy and banking ». For his part, attributed Shabibi reasons for the high exchange rate of the dollar against Iraqi dinar to the weakness of domestic production and the lack of Iraq’s exports (excluding oil), and the weakness of the government’s measures to attract capital to Iraq, as well as the political situation tense internally and regionally, and the economic blockade experienced by some neighboring countries. either Nujaifi stressed the «should not be dependent central bank to the government so as to prevent the seizure of Iraq’s money or the implementation of international rules issued against Iraq by the creditor». He explained that «the House of Representatives will host the central bank governor at a hearing to explain the reality of the Bank’s work and illustrate the issue of the exchange rate of the dollar against the Iraqi dinar and the economic conditions and monetary policy in place ». 
It is said that the past few days have seen a rise of the exchange rate of the dollar against the Iraqi dinar. 
On the other hand, met with Speaker of Parliament Ambassador Hassan Hani labile al-Janabi, the representative of Iraq in the organization FAO. 
During the meeting, they discussed the possibility of international organizations in Rome to provide technical assistance to evaluate the groundwater resources in Western Sahara and its investment in the agricultural field. 
For his part, said al-Janabi, his organization’s readiness to provide the necessary expertise to hold a seminar in this regard, in cooperation with the Ministry of Agriculture and Water Resources and the Ministry of Education Higher parliamentary commissions and the Investment Authority in Iraq. also discussed the possibility of establishing a higher council for water from the drain, to care for water resources utilization and the organization with the best.