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Found 2 results

  1. Victims Maliki You clear them eliminate 25-12-2014 12:21 PM Recent events relating to the acquittal of politicians and renowned experts reveal charged in the era of former Prime Minister Nuri al-Maliki simply objected to some of its decisions, the judiciary was not politicized, but it bears the weight of the executive branch pressure which intervened in the judicial affairs openly and displays this power threats emptied independence. As part of a review of the previous policy, the judiciary ruled the release of the Governor of the Central Bank of Iraq, and former Minister of Communications, prompting Bakanonaan and judges to say that there is 'substantial interference and pressure was exerted on the judiciary'. And refers to the judicial verdicts in absentia to more than five years, not gaining become final, but fired to force the defendant to appear before the Court. A spokesman for the judiciary, Abdul Sattar Bayraktar, said: competent criminal court to consider the fairness issues in Rusafa ruled the release of the former central bank governor, Sinan al-Shabibi, and former Minister of Communications, Mohammed Tawfiq Allawi, attributing the reason for this is to 'lack of evidence' .He added that 'there were provisions in absentia previously issued against the central bank governor and minister of ex-communication', adding that 'Shabibi Allawi surrendered to justice before a period, and then were released on bail pending the resolution of the lawsuit that article governed by the subject to ensure'. Intervention and judgment As the judge and former minister Wael Abdul Latif, the 'stressed political interference and great pressure was exerted on the judiciary', adding that 'before more than 100 days from now they all authorities in the country are managed by policy', in reference to the previous government control powers The tasks and work authorities and independent bodies. And he stopped Abdul Latif said 'Head Office of Financial Supervision Abdul Basit Turki served as Governor of the Central Bank, succeeding Hbibi, and this is contrary to the legal central bank and financial control, where there may be a combination of regulatory and executive branches of government.' For his part, explained the legal expert Tariq Harb 'default judgment issued by the courts, re-examined him and is listening to the testimony of the accused and then issue a decision against him.' The resignation of the charge Allawi was resigned in August 2012 past on the back of the existence of suspicions in Mali corrupted files affected his ministry and the attempts by some communications pass shady deals companies, which was denied, attributing to resign to 'political interference' impede the work of the ministry, noting that al-Maliki 'refusal to achieve the conditions relating to political interventions in the ministry ', also was sentenced to seven years in jail in absentia against the former minister of communications, as well as, the judiciary issued in September jailed for seven years against the former central bank governor. The issue of the dismissal of the governor of the Central Bank of Iraq, international reactions mixed has been met since called the American ambassador in Iraq at the time Stephen Beecroft to 'transparent investigation in this case as it represents the great importance of the Iraqi economy', as the World Bank stressed the 'need for a transparent investigation in this case '.
  2. 07/21/2013 (00:01 pm) - The number of readings: 1339 - Issue (2848) Determine the exchange rate .. Initiatives banks is good, but monetary policy is the foundation D. Sinan Shabibi Mohammad Reza * The central bank faced some problems at the beginning of 2012 represented an increase demand for the dollar as a result of the withdrawal of U.S. forces and increasing regional demand, especially by Syria and Iran.Has such a sense of economic shock led to a large increase in demand for the dollar and thus rising amount of foreign currency auction.The phenomenon of external shocks is not strange in developing countries, it is a fundamental property of their properties because of the openness of their economies to the outside. The face of these shocks take a long time which fluctuates affected by the exchange rate and other economic variables. That these shocks are focused on the demand for the dollar, and is no stranger to the resort witnessed by the countries to some restrictions aimed at demand management. And successes vary as a result of these measures. This means that the fluctuation in the exchange rate in 2012 was mainly due to external shocks and not because of internal policy. Restrictive methods were not effective, but effective treatment which resulted in great success was through the lifting of all restrictions and exchange rate liberalization and meet the demand for foreign currency as is fully described in the statement No. 19 in 1/10/2012 where the "Bank has committed to maintain the value of Iraqi dinar and stability as part of its policy for the protection and growth of the Iraqi economy, and in this context ensures that the Iraqi Central Bank to meet the demand for foreign currency in full, including not intersect with the law of money laundering and money crime and terrorism No. 93 for the year 2004, instructions and regulations issued in this regard. " If the crisis the central bank in the previous period is a result of an external shock violent the oscillation, which happened in the time of the current administration was the result of its policies, and treatment that we have seen recently was not the result of the policy of this administration cash, but as a result of initiatives banks represented by the reduction in the exchange rate offered by the dealers end by reducing profits. I've been to restrict the supply of foreign currency starting (in the tenth month of 2012). This continued restraint so as not to desire the new administration to meet demand fully believing that thus avoiding wastage of public money, and was not this administration is aware that the main objective of the central bank, according to its law is to stabilize the exchange rate, so it is very essential that you are interviewed every demand except So which involves banking and administrative irregularities or so large that involves money laundering operations and the financing of terrorism. So price has continued to rise and became up to 1280 dinars to the dollar at the end of the fifth month of 2013. We do not know how to be in front of a waste of public money and we we meet a demand for the dollar and take the suit Iraqi currency and the resulting stability of the exchange rate. The current administration is now selling amounts beyond what was sold by the previous administration in its recent period, why there was waste in the past - as has been said - and there is no wastage now!? The new administration has adopted a cure is not consistent with the principles of monetary policy. This treatment represents that the banks cut the price of the dollar, which means that the procedure was the same on the exchange rate and not on the exchange rate fundamentals (of supply and demand of foreign currency). The target price directly price may ignore the basics and therefore it is merely a holding administratively by. But relying on the basics of price means the use of reserves to meet the demand, which will lead to a reduction in the price of the dollar, and this is a market issue and not an administrative issue, and if the reserve falls as a key parameter for the basics of price, baptize to increase the price of the dollar. So it was on the monetary authority to lower the exchange rate of the dollar by pumping the money supply through the reserve and not by the banking sector downwardly directly. In other words, that the treatment must be within the monetary policy mainly. The treatment through the reserve will be more stable and enduring. Change the price or reduced in this case must be due to the effect of monetary policy, especially the money supply and exchange rate policy. It should not be this reduction due to reduced profits of the banks it is not characterized by stability and permanence of the hand, as it is not within the means of monetary policy on the other. This has resulted in style (by banks) low exchange rate of 1280 dinars to 1225 dinars, the price is still high. On the other hand, the monetary treatment by banks will impose some restrictions on the central bank, will increase the bargaining power when private banks when asked the central bank to apply some developmental measures, such as increasing the capital of banks or ask them to activate brokerage to regulate the banking reality. Finally, the exchange rate policy is the policy of total while the area in which they operate is a partial area banks. Determine the exchange rate and the basic function of the functions of the central bank, which is certainly not the of missions banks, especially since the central bank has large reserves which can meet all the demand levels. It is possible to get to the same result, any reduction of the dollar, through the reserve and thus be in front of a monetary policy to maintain the stability of the exchange rate, led by the central bank. That trading with the banks on the issue of the exchange rate is needed, but that this trade must go out to the governmental and parliamentary bodies and the private sector as well, and can be trading covers other elements of monetary policy. * Central Bank Governor article http://www.almadapaper.net/ar/news/448118/%D8%AA%D8%AD%D8%AF%D9%8A%D8%AF-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%B5%D8%B1%D9%81%D9%85%D8%A8%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A3%D9%85%D8%B1-%D8%AC%D9%8A%D8%AF-%D9%84
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