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Source: Governor of CBI has submitted resignation; Under pressure due to poor management of CBI Posted: September 9, 2013 in Iraqi Dinar/Politics Tags: Abdel Basset Turki, Abdul Basit Turki, Central bank, Central Bank Iraq, Iraq, Iraqi dinar, Nouri al-Maliki, Turkey Source: Governor of the Central Bank of Iraq and submit his resignation and agency experts in economy Hdhuroa of a combination between the two positions 08-09-2013 He informed source close to the “Iraqi Central Bank Governor agency Abdul Basit Turki he submitted his resignation today,” to Prime Minister Nuri al-Maliki, due to not being able to manage work at the Central Bank and the Office of Financial Supervision, and the source said that Turkey is no longer that manages requests for central and mail signature Central Bank of the stack for many weeks and the intervention of some political figures in the central business and due to pressure from some political figures and interfering in the affairs of the technical and administrative banks, and Turkish did not reveal details that forced him to resign. He explained sources Prime BSA Abdul Basit Turki tendered his resignation from the post of governor of the central bank today, which was occupied by proxy. “Did not disclose the source of more details about the resignation is not known after the Turkish sacked by the Prime Minister or feet resignation is forced. According to many experts economics and law that Iraqi law should not combines Prime BSA over the position, especially the governor of Central Bank of Iraq, and demanded Prime Minister searching for Biddle for a Turkish non-reordering in the combination between the two administrations and the seriousness of financial conditions and economic conditions in the assumption of a Turkish governor of the central and Tzbb exchange rate as well as currency smuggling, money laundering and failing to Aalqdhae the phenomenon The Council of Ministers decided to appoint Abdul Basit Turki governor of the Central Bank of Iraq instead of Shabibi. In the sixteenth of the month of October last year, declined to economic expert Ahmed Bureihi to receive the position of Management Iraqi Central Bank Governor said Bureihi in a statement he had no desire to assumption of the post of Governor of the Bank. there are a lot of thorny and complex problems in the files of the Central Bank. bit.ly/17RhPna

Launch The Iraqi Dinar ~ Vice-President of the Economic Commission project to delete the zeros and economic feasibility of the regional climate has become suitable for launch Posted: August 5, 2013 in Iraqi Dinar/Politics Tags: Central bank, CommitteeEconomic, Economy of Iraq, Iraq, Iraq Stock Exchange, iraqi, Iraqi dinar, Ministry of Finance Monday 05/08/2013 Mahma Khalil Alsnjara: Vice-President of the Economic Commission project to delete the zeros and economic feasibility of the regional climate has become suitable for launch MP for Kurdish bloc Mahma Khalil Alsnjara Vice-Chairman of the Committee Economic development in the House of Representatives by the Iraqi government to activate the decision to delete three zeros from the Iraqi currency . On the reason for the claim at this time Parliament Alsnjara said during his meeting with Sisterhood, saying: After the withdrawal of Iraq from Chapter VII see that the regional climate has become fit and there is no fear of currency counterfeiting or forgery, and this argument that upheld the government to stand against the activation of the resolution has become unjustified now as well as the Iraqi environment has become a fertile ground for investment for Iraq’s possession of fourth power Global prompting companies global investment race in investing in Iraq as between Alsnjara that there are procedures to speed up activating the decision of which continue to pressure the government legitimately including resorting to constitutional provisions that allow printing of a new currency, and it is not reasonable to keep the Iraqi dinar weakened to this limit against the U.S. dollar, especially that Iraq’s sovereign balance in international banks totaled $ 76 billion. * In order to stand on the reasons for delay approval of the project to delete the zeros we met an economist and financial consultant Dr Majid picture, who told us the truth about the project and economic feasibility Almarjah the him, saying: In 2008, the Central Bank in agreement with the Ministry of Finance to do the studies necessary for the process of deleting three zeros from the Iraqi currency, and the purpose of this process is to restructure the local currency to reduce the cost of trading the currency and facilitate the handling and especially trading, medium and large, as well as multi-currency than fifty fils to (100) dinars will lead to facilitate the draw price policy in the country to be accompanied by practical package of measures has claimed responsibility for all government departments and state institutions and banks in order to find solutions to all the problems and issues that can result from the process of restructuring of the currency, including cash, accounting, security, as well as take the necessary measures to destroy the currency received, and most important of these issues is how to do therapy accounting for the deletion of zeros, and related market, Iraq Stock Exchange, said Suri was the experience of Iraq to replace the currency in 2003 is very rich, but will not exceed only change the shape of currency and replace it, and therefore did not encounter this process any accounting requirements or legal It is necessary to take some necessary measures in the case of structuring currency in order to get the results of the desirable, including education departments, banks and public usefulness of restructuring the currency and how to take the necessary measures in order to reach the planned objectives, including the use of technology by the relevant authorities in order to detect fraud that occurred formerly of the old currency. * And the reasons that led to the suspension of work on the project Suri replied saying: The central bank’s decision to restructure the process a decision for monetary policy, the monetary authority (CBI) and was done in consultation with the Ministry of Finance, the Bank has taken all the measures relating to the restructuring of the currency, including design of currency denominations and the quality of paper used in currency, which is considered one of the finest types of paper Stainless cash or difficulty rigged, but the interference of the executive of its decision to postpone the process of restructuring the currency led to the suspension of all actions related to this project. واضاف الصوري: Souri added: That undergo such decisions for political manipulation and skirmishes is not in the interest of monetary policy nor in the interest of the Iraqi economy and therefore non-specialists politicians not to manipulate or interfere in such decisions and be subject to speculations and between political factions warming internalized in power. * And the most important benefits achieved by the project to delete zeros Giebna the economic Thamer Alheimus, saying: Most benefit from the process of currency exchange deleting three zeros is the first easy trading and secondly and more importantly when you are distributing coins that are parts of the dinar will create a high elasticity of prices, for example, we now have a quarter dinars (250) smaller currency while will have after the deletion of zeros currency 50 fils or less, depending on the value of the dinar and therefore we can that نسعر between 1/4 dinars and 1/2 or less of the dinar, and this helps a lot in improving the incomes of lower segment of low-income people in particular. Perhaps in this case raises the purchasing value of the Iraqi dinar in general in the future, if there is a monetary policy sober at least have the dinar against the dollar as a target in the stage unforeseen, and certainly the rise of the dinar against the dollar will improve access to many of the families or social strata limited income. * At the conclusion of our investigation we join our voices with the demands of the Economic Committee in the House of Representatives that calls for the activation of the project to delete the zeros for the benefit of the Iraqi monetary policy and all the Iraqi people, especially the poor and low-income people. http://bit.ly/11I3Ak3

MP confirms Government's aim to dominate CBI Tuesday, 16 October 2012 09:55 | | | Baghdad (AIN) -The Parliamentary Ahrar bloc within the Sadr Trend criticize targeting of the Iraqi Government for the Central Bank of Iraq. The leader within the bloc, Amir al-Kinani said that "The Governor of the CBI, Sinan al-Shibibi, is a patriotic and professional character," stressing that "The Government attempts to seize the independent bureaus where the last institution that withstood the Government's control was the CBI but unfortunately it fell under the Government's domination." "In case of submitting nominees for the management of the Bank they certainly will be from the State of Law Coalition," Kinani argued. It is worth to mention that certain source of the parliamentary committee which is tasked to investigate the corruption and money-laundry processes at the CBI has revealed to AIN that Shibibi called the Premier Nouri al-Maliki to dismiss four officials at the Bank who are involved in corruption cases. /End/ http://www.alliraqne...itical&Itemid=2 Read more: this says it all maliki wants control of the central bank actually has for a long time