Cabinet approved the recommendations of the Iraqi dinar exchange rate after the dismissal of Shabibi

[yota691]

Cabinet approved the recommendations of the Iraqi dinar exchange rate after the dismissal of Shabibi

Posted on Tuesday, October 16 1 / Okrudolf 2012 15:10 | Written by: ha | | | Views: 34

BAGHDAD / obelisk: Iraq's Council of Ministers approved, on Tuesday, the recommendations of the Commission study the fluctuation of the exchange rate of the Iraqi dinar, which provides coordination, consultation and exchange of information in conjunction with the dismissal of the governor of the central bank.

He said Iraqi government spokesman Ali al-Dabbagh and got "obelisk", a copy of which, "The Council of Ministers held its 45-normal Prime Minister Nuri al-Maliki and the presence of all ministers, approved the recommendations of the study fluctuation Iraqi dinar exchange rate of coordination, consultation and exchange of information between the Central Bank of Iraq and the Council Ministers on fiscal and monetary policies and in accordance with the Constitution. "

Dabbagh said, "The Council decided to give banks a greater role for banks to organize the exchange rate of the Iraqi dinar, through a mechanism to prevent the use of funds for purposes other than the declared, along with building the full administration of the Office of money laundering and combating the financing of terrorism."

The Iraqi government spokesman said the Cabinet stressed "taking proposals bank into consideration on the formation of the money laundering and the formation of a committee headed by the BSA and the membership of the ministries of interior, finance, trade and Iraqi Central Bank and the General Secretariat of the Council of Ministers shall audit and review processes sell the currency for the purpose of locating bugs" .

According to Skinner committed the Council of Ministers "Central Bank to provide a quarterly report on its supervision on the banking companies authorized external switch, with an emphasis on the oversight role of the Supreme Audit scrutiny currency sale transactions to customers and goods entering the result."

The Cabinet decided today, Tuesday, dismissing Iraqi Central Bank Governor Sinan al-Shabibi and the prime BSA Abdul Basit Turki proxy instead of him, said media adviser to Prime Minister Ali al-Moussawi that the decision is valid until further notice.

The regulatory source revealed to the obelisk for the issuance of an arrest warrant against al-Shabibi, Haitham al-Jubouri said a member of the Knesset Finance Committee that investigated suspicions of corruption in the operations of the Central Bank of Iraq and the auction, the issuance of the note right Shabibi and two of his advisers and employees rank of director general. http://www.almasalah.net/index.php/2012-06-25-12-38-33/1545-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%8A%D9%82%D8%B1-%D8%AA%D9%88%D8%B5%D9%8A%D8%A7%D8%AA-%D9%84%D8%AC%D9%86%D8%A9-%D8%B3%D8%B9%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D8%A8%D8%B9%D8%AF-%D8%A5%D9%82%D8%A7%D9%84%D8%A9-%D8%A7%D9%84%D8%B4%D8%A8%D9%8A%D8%A8%D9%8A.html

Edited October 16, 2012 by yota691

[SoGrateful]

This is crazy news!

[cbs71]

Okay, what's the rate?

[bamagirl]

What is going on and what in the world does this all mean?!?!?

Can't believe Shab's is really gone..

[DinarWhiz]

What is going on and what in the world does this all mean?!?!?

Can't believe Shab's is really gone..

Hes not !!! all BS:)

[rgaguilera]

I am having a hard time wrapping my head around this article. Is this article stating that the current programmed rate will switch to a float ? Like i previously stated, I am not sure what to make of this article...anybody out there that can make more sense of this than I? Thanks in advance...

[welcome007]

this is some twilight zone shi*t

this is a day to remember

Edited October 16, 2012 by welcome007

[sandstorm]

Recommendations about the exchange rate in coordination of shabibis removal. Very interesting. rv this thing...lets go

[RVPleaseToday]

It seems like they are saying they want to give banks a say in how currency exchange is done to prevent money laundering, etc and to come up with a way to prevent wide fluctuations in the exchange rate.

[steveinfla]

My theory and this is ONLY an opinion...

I think this may be the smoke screen and false news story everyone has been looking for.

I dont think Shabs is gone.. I dont think there is going to be a float

I think the preverbial button is going to get pushed... Fingers crossed and hoping I am right....

Someone posted in an other thread that some of the stories claimed to be sourced from Rueters however there website isnt carring those stories.(as of the time i post this that could change too) Iraq control the news stories... I am hoping to wake up Wednesday morning a very rich man...

DADDY WANTS A NEW DOUBLE WIDE!!!!!

[bamagirl]

Hope your theory is correct Steve.. fingers crossed

[R Veyron]

They make it sound as though Shabibi has been holding them back from allowing them to make changes to the exchange rate. It looks as though the majority may be just as frustrated as the rest of us and want to start getting things done.

"approved the recommendations of the study fluctuation Iraqi dinar exchange rate of coordination, consultation and exchange of information between the Central Bank of Iraq and the Council Ministers on fiscal and monetary policies and in accordance with the Constitution. "

[Boozer]

I dont care if your dog run's CBI just RV at $3 and make me a happy Man..Where is Adam we need to hear from Him as to what is going on and how this plays out with the Dinar...

[unirod]

All these rumers and confusing reports seem the perfect scenario for an R/V or R/I....IMO

[Boozer]

Where is Adam we need you to weigh in on all this... Hello Adam where are you !!!!!!

[uncirculd]

What is going on and what in the world does this all mean?!?!?

Can't believe Shab's is really gone..

Maliki has complete control of Iraq and will now take out the kurds with Irans help. And start helping Syria kill their people. That's what it appears if he has taken over the bank. It's all for the money to keep money flowing to Iran.

Hey friends, I am hoping this is the madness news coming out before the RV and the truth. I hope anyways. Otherwise, the middle east is in trouble.

Edited October 16, 2012 by uncirculd

[KiaKaha]

Just a thought... the debate tonite is on foreign policy, no??? Wouldn't Mr O look special if the IQD rved before, during or even after? He would TOTALLY take credit for it! Hmmm, perhaps he IS in control of it, or at least has a big say...

KK

MADD for Heather

[zigmeister]

http://en.wikipedia.org/wiki/Knesset

Knesset? Is Iraq now an adjunct territory of the Israeli state?

Let's see. The Rothschilds founded Neo-Israel for the mineral wealth of the Dead Sea. They own the Central Bank of Iraq. Why would this not be?

Very interesting insight. I don't know why you got negged for something that was stated in the article. However I do not know why Knesset would be involved and on a committee to investigate CBI. I mean do they hire out?

[Dreaminof dinar]

BAGHDAD – Iraq abruptly removed the longtime governor of the country's central bank Tuesday after he and other bank officials were targeted in an investigation into alleged financial wrongdoing.

The governor, Sinan al-Shabibi, is seen as a politically independent economist who has led the bank since shortly after the U.S.-led invasion. He has not been charged with any crime, and his lawyer insists he is innocent.

The allegations, drawn up by a special parliamentary committee established to investigate the bank, could give new ammunition to critics of Prime Minister Nouri al-Maliki that the Iraqi leader is trying to consolidate control over the country's institutions.

Iraq's Cabinet voted Tuesday to temporarily replace al-Shabibi with Abdul-Basit Turki, the head of the Board of Supreme Audit, until the investigation is complete, according to Ali al-Moussawi, a spokesman for the prime minister.

Iraq's Integrity Commission, the country's anti-corruption watchdog, is investigating the allegations.

"The committee in charge of this ... found shortcomings in the work of the central bank and these findings were sent to the Integrity Commission, which has decided to withdraw power from al-Shabibi," al-Moussawi said.

The investigation deals at least in part with alleged irregularities involving the exchange of Iraqi dinars for hard currency, according to al-Moussawi and Haitham al-Jabouri, a lawmaker involved in the probe.

About 16 bank employees are targeted in the investigation, al-Jabouri said. He said he expects arrest warrants against some could be issued soon.

Before becoming bank governor in 2003, al-Shabibi worked for more than two decades for the United Nations Conference on Trade and Development.

One of his lawyers, Waleed Mohammed al-Shabibi, defended the governor's innocence. The lawyer described himself as a relative of the governor.

"These charges are politically motivated. Al-Shabibi is honest and professional," said the lawyer. "The government is planning to replace him with another official who takes orders from the government."

Al-Moussawi, the prime minister's spokesman, denied the charge, saying there was no political motivation behind the move.

The bank governor himself could not immediately be reached for comment. His lawyer said al-Shabibi is out of the country. He declined to say where.

Spokespeople for the central bank said they are not authorized to discuss the allegations.

Iraq has rapidly increased its oil output following years of war and neglect, and that has translated into a sharp rise in hard currency reserves. The country earlier this year surpassed next-door Iran as OPEC's second-largest oil producer, and its currency reserves recently topped $60 billion.

But the bank's efforts to keep the dinar stable through its sales of dollars to local banks have come under pressure, particularly over the past year.

Mudhhir Mohammed Salih, the bank's deputy governor, said in January that he believed the civil war in neighboring Syria and international sanctions against Iran had caused a jump in demand for dollars sold by Baghdad.

He said opportunistic businessmen were buying up dollars and then reselling them on the black market to customers across the border, sucking greenbacks out of the country and making it harder for the bank to keep Iraq's dinar stable. The bank aims to keep the local currency set at close to 1,200 dinars per dollar.

Salih separately confirmed he is among those being investigated, but said he has no further details.

___

Associated Press writers Qassim Abdul-Zahra, Sinan Salaheddin, Sameer N. Yacoub and Bushra Juhi contributed reporting.

Read more: http://www.foxnews.com/world/2012/10/16/iraqi-investigating-governor-central-bank-other-senior-officials-in-corruption/#ixzz29UcEWYpU'>http://www.foxnews.com/world/2012/10/16/iraqi-investigating-governor-central-bank-other-senior-officials-in-corruption/#ixzz29UcEWYpU

http://www.foxnews.com/world/2012/10/16/iraqi-investigating-governor-central-bank-other-senior-officials-in-corruption/

[Tennesseegirl]

BAGHDAD – Iraq abruptly removed the longtime governor of the country's central bank Tuesday after he and other bank officials were targeted in an investigation into alleged financial wrongdoing.

The governor, Sinan al-Shabibi, is seen as a politically independent economist who has led the bank since shortly after the U.S.-led invasion. He has not been charged with any crime, and his lawyer insists he is innocent.

The allegations, drawn up by a special parliamentary committee established to investigate the bank, could give new ammunition to critics of Prime Minister Nouri al-Maliki that the Iraqi leader is trying to consolidate control over the country's institutions.

Iraq's Cabinet voted Tuesday to temporarily replace al-Shabibi with Abdul-Basit Turki, the head of the Board of Supreme Audit, until the investigation is complete, according to Ali al-Moussawi, a spokesman for the prime minister.

Iraq's Integrity Commission, the country's anti-corruption watchdog, is investigating the allegations.

"The committee in charge of this ... found shortcomings in the work of the central bank and these findings were sent to the Integrity Commission, which has decided to withdraw power from al-Shabibi," al-Moussawi said.

The investigation deals at least in part with alleged irregularities involving the exchange of Iraqi dinars for hard currency, according to al-Moussawi and Haitham al-Jabouri, a lawmaker involved in the probe.

About 16 bank employees are targeted in the investigation, al-Jabouri said. He said he expects arrest warrants against some could be issued soon.

Before becoming bank governor in 2003, al-Shabibi worked for more than two decades for the United Nations Conference on Trade and Development.

One of his lawyers, Waleed Mohammed al-Shabibi, defended the governor's innocence. The lawyer described himself as a relative of the governor.

"These charges are politically motivated. Al-Shabibi is honest and professional," said the lawyer. "The government is planning to replace him with another official who takes orders from the government."

Al-Moussawi, the prime minister's spokesman, denied the charge, saying there was no political motivation behind the move.

The bank governor himself could not immediately be reached for comment. His lawyer said al-Shabibi is out of the country. He declined to say where.

Spokespeople for the central bank said they are not authorized to discuss the allegations.

Iraq has rapidly increased its oil output following years of war and neglect, and that has translated into a sharp rise in hard currency reserves. The country earlier this year surpassed next-door Iran as OPEC's second-largest oil producer, and its currency reserves recently topped $60 billion.

But the bank's efforts to keep the dinar stable through its sales of dollars to local banks have come under pressure, particularly over the past year.

Mudhhir Mohammed Salih, the bank's deputy governor, said in January that he believed the civil war in neighboring Syria and international sanctions against Iran had caused a jump in demand for dollars sold by Baghdad.

He said opportunistic businessmen were buying up dollars and then reselling them on the black market to customers across the border, sucking greenbacks out of the country and making it harder for the bank to keep Iraq's dinar stable. The bank aims to keep the local currency set at close to 1,200 dinars per dollar.

Salih separately confirmed he is among those being investigated, but said he has no further details.

___

Associated Press writers Qassim Abdul-Zahra, Sinan Salaheddin, Sameer N. Yacoub and Bushra Juhi contributed reporting.

Read more: http://www.foxnews.com/world/2012/10/16/iraqi-investigating-governor-central-bank-other-senior-officials-in-corruption/#ixzz29UcEWYpU'>http://www.foxnews.com/world/2012/10/16/iraqi-investigating-governor-central-bank-other-senior-officials-in-corruption/#ixzz29UcEWYpU

http://www.foxnews.com/world/2012/10/16/iraqi-investigating-governor-central-bank-other-senior-officials-in-corruption/

Fox News! That's about as official as it gets! Wow!

[whatsthis]

Just a thought... the debate tonite is on foreign policy, no??? Wouldn't Mr O look special if the IQD rved before, during or even after? He would TOTALLY take credit for it! Hmmm, perhaps he IS in control of it, or at least has a big say...

KK

MADD for Heather

IMO no matter what happens or when it happens before during or after tonight's debate it is to late to help O should he be looking for it. to close to the election for this to help O.

[MyLadiesDaddy]

They make it sound as though Shabibi has been holding them back from allowing them to make changes to the exchange rate. It looks as though the majority may be just as frustrated as the rest of us and want to start getting things done.

"approved the recommendations of the study fluctuation Iraqi dinar exchange rate of coordination, consultation and exchange of information between the Central Bank of Iraq and the Council Ministers on fiscal and monetary policies and in accordance with the Constitution. "

I have wondered this very thing myself. We so want to see M as the bad guy,

and he may be, but we also know that Shabb's himself has said that he would not

allow an rv until the dinar could become a reserve currency. Recent communication

from the IMF indicated that something would be coming out of the Middle East," ... in Oct or

shortly thereafter." Then while Shabb's is in Tokyo for the IMF meeting we get this.

For me I don't think these events are as spontaneous as we are led to believe.

Furthermore. even our most trusted people here will tell you that NOTHING in

Iraq gets done this fast. That alone should cause great pause for us.

One way or another we will soon have some answers to our questions.

For me I have bet money on the fact we are about to have an rv. When one looks at

all the news of late, and I also mean non Iraqi news, it's an rv or complete

destruction of what America tried to accomplish with Iraq.

[Goldiegirl]

Can we trust the Washington Post?

http://www.washingtonpost.com/business/iraqi-investigating-governor-of-central-bank-other-senior-officials-in-corruption-probe/2012/10/16/26078a22-1785-11e2-a346-f24efc680b8d_story.html

[zigmeister]

Well Goldie, now I have to seriously believe this indeed happened. The question for us is, is this a good thing?

[ThePeoplesChamp]

LOL!

[quote

DADDY WANTS A NEW DOUBLE WIDE!!!!!