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Iraq's cabinet yesterday named a replacement for the central bank governor, Sinan Al Shabibi, after he was suspended for alleged financial impropriety.
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The Iranian rial now trades at 16,000 to the dollar, versus 12,500 in December. Mushtaq Muhammed / Reuters
■ Central Bank of Iraq tightens rules on buying US dollars
■ Iraq looms large in era of growing oil scarcity
■ US audit traces Iraq's 'missing' aid billions
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Iraq
Parliament voted to replace Mr Al Shabibi following an investigation by a special parliamentary committee into possible manipulation of the country's currency against the US dollar by the central bank.
"The cabinet decided to authorise Abdelbasset Turki, the head of the board of supreme audit, to run the central bank indefinitely," said Ali Al Moussawi, the prime minister's spokesperson.
"The parliament today made a unanimous decision to vote for Abdelbasset, who is already handling many financial governmental decisions including the country's fiscal budget," Mr Al Moussawi said. "Subsequently, a decision was made to remove powers from Mr Al Shabibi as central bank governor."
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Related
The Iranian rial now trades at 16,000 to the dollar, versus 12,500 in December. Mushtaq Muhammed / Reuters
■ Central Bank of Iraq tightens rules on buying US dollars
■ Iraq looms large in era of growing oil scarcity
■ US audit traces Iraq's 'missing' aid billions
Topic
Iraq
Parliament voted to replace Mr Al Shabibi following an investigation by a special parliamentary committee into possible manipulation of the country's currency against the US dollar by the central bank.
"The cabinet decided to authorise Abdelbasset Turki, the head of the board of supreme audit, to run the central bank indefinitely," said Ali Al Moussawi, the prime minister's spokesperson.
"The parliament today made a unanimous decision to vote for Abdelbasset, who is already handling many financial governmental decisions including the country's fiscal budget," Mr Al Moussawi said. "Subsequently, a decision was made to remove powers from Mr Al Shabibi as central bank governor."
[You must be registered and logged in to see this link.]
