Attorney Fayad: the central bank should not be based on political considerations

Attorney Fayad: the central bank should not be based on political considerations

Friday, October 19 1 / Okrudolf 2012 10:39

{Baghdad: Euphrates News} MP for the coalition of state law, Ali Fayad, the need not to be the work of the Central Bank of Iraq based on political considerations, according to the convictions of the decision-maker.

He said in a statement to the Euphrates News Agency {} said Friday that “the central bank important vital institution and it must play a clear role in support of state and government and not be getting political like based on what he believes the decision-maker.”

He Fayad he “assumes the brothers working in the Central Bank to be careful to state funds public”, adding that “companies that deal Bachirfah and foreign remittances have been limited and is working toward a narrow and there were demands to give companies wider area in dealing with the outside.”

He stressed that “fiscal policy should be subject to export and investment considerations and we are looking for a central bank interest in line with the ability of Iraq.”

The Cabinet had last Tuesday passed a resolution exempting the Iraqi Central Bank Governor Sinan al-Shabibi from office and to instruct the Director of the Office of Financial Supervision Abdul Basit Turki running the bank until further notice. ”

The Integrity Commission has issued an arrest warrant for Central Bank Governor Sinan al-Shabibi and 16 other officials, including the deputy governor of the Central Bank the appearance of Mohammed Saleh.

The House of Representatives of his had formed a committee headed by Qusay al-Suhail, first deputy head of parliament for a broad investigation on the existence of suspicions of corruption operations selling the dollar at the Central Bank and has taken some actions led to the issuance of arrest warrants against a number of officials at the central bank, led by Governor Sinan al-Shabibi .

And denounced some of the forces and blocs targeting the Central Bank of Iraq and the attempts by some political forces to undermine the independence guaranteed by the Constitution and laws of Iraq and international.

Economists believe that these decisions and actions may contribute to market volatility Iraqi currency and the exchange rate of the dinar against foreign currencies. Ended 11