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Thursday, October 18, 2012

Economic Commission Member: CBI suffers from a lot of suspicions,18 october

Economic Commission Member: CBI suffers from a lot of suspicions

18/10/2012 10:50:11
BAGHDAD (Iba) … Said Ammar Al-Shibli, a member of the economic and investment commission in the House of Representatives that there is the issue of corruption is evident in the work of the Central Bank of Iraq since the beginning of the current session, particularly with regard to the dollar auction sale.
He Shibli told the independent press (Iba) that information reached the Parliamentary Integrity Committee since the beginning of the current parliament about auctions by the Central Bank of Iraq and the lack of legality and constitutionality and being based on relationships and administrative corruption so I followed the subject and made it.
He pointed out that his committee followed the weekly bulletin issued by the Central Bank on banks and companies that sold the dollar and found that there are many of these companies and banks and banking offices that are repeated names every week, he said.
Pointing out that the bank has instructed that the moral progress that buy dollar amounts from the bank account of the criteria for disbursement in the second week of showing the purchase according to the official papers of the goods imported by.
He Shibli and against the big number alarming that the central bank sold a $ 220 billion did not enter for this figure to Iraq, but $ 22 billion of goods and the rest were not only statements false, and that a committee economy Parliamentary took a sample of those disclosures which (90) disclosure but did not find an account of a real one, and the rest fake ‘he said.
Shibli pointed out that what is happening in the Central Bank is forging seals where they are through the sale of hard currency, and this has led to the economic deficit in the country, stressing that the central bank auctions tinged the precipitant of corruption.
The Parliamentary that the presence of banks repeated their names always contrary to the work of the Central Bank, and despite the existence of a channel of communication of the bank with the State Department, but he did not ask Attaches commercial health issued to deal with companies in Dubai, Lebanon, Syria and other countries.

Economists in Iraq denounce the dismissal of Shabibi,18 october

Economists in Iraq denounce the dismissal of Shabibi

condemned economists dismiss Central Bank Governor Sinan al-Shabibi against the backdrop of charges did not pass through the judiciary, noting that it will overshadow negatively on the reputation of the country in front of the World Bank and international companies because their timing coincided with representation Shabibi for his country in conferences Bank in Tokyo .
they said in their conversations to the extent that these accusations are not confirmed within political conflicts circuit taking place in the country since the period despite the fact that Shabibi personal professional and a far cry from the conflicts.
mentions that Sinan Shaibi took office central bank governor since 2003 has achievements mission At the monetary level.
criticized economic expert Majid picture dismissal Shabibi against the backdrop of an arrest warrant issued against him the fact that the latter figure, fair and professional and far from corruption.
said Suri’s (range) that the central bank carried out its duties basic through cooperation with the Ministry of Finance and the bodies responsible other with respect reduce Iraq’s foreign debt in addition to his work on a cover huge local currency and increase confidence and stability to for quite some time explaining that under the difficult circumstances that have passed on Iraq since 2003 there is no institution or sector free of foot-dragging.
added picture: Despite the successes incurred by the bank on the monetary level, but certainly there are failures of certain particularly in relation to the control of the work of banks, adding that the report BSA between the existence of violations involving some of the workers at the central bank and the latter expressed his willingness to fight corruption, adding that the media frenzy that got exaggerated to farthest extent.
continued picture: that the accusations, investigations and suspicions alone does not mean the crime and can be a tool offensive to the country’s reputation.
his part, said economic expert as Abdul Hadi’s (range) that this dismissal came against the backdrop accusations made ​​against by members of parliament to Central Bank because of his policies and in particular in the auction currency and there charges for some officials at the central bank involvement process corruption or laundering of foreign currency abroad and there is a committee formed by the Parliament and the Commission issued its report and were reluctant to reveal details of the report, adding that the matter is not resolved resolved by the judicial For removal of the governor there are a lot of notes on them.
For his part, Vice Governor of the Central Bank of the appearance of Mohammed Saleh (range) that monetary policy in Iraq was born in exceptional circumstances where liberalized financial sector from all restrictions, indicating that the funds that enter the country are not commensurate with the extrabudgetary funds it is the latest case of conflict of interests, he said.
Saleh added: that money laundering does not mean conversion processes financial standard concerning ownership of individuals, explaining that they fall within the framework of crimes and thefts.
so criticized by the Finance Committee Hassan or time-Bayati, the Commission’s decision investigative problem breaches the central bank issued an arrest warrant on the Governor of the Bank because it is not the prerogative of the work, but the competence of the judiciary, calling to reconsider its decision to preserve the reputation of the national economy to the States.
Bayati said in a press statement that the functions of the Commission investigative parliamentary problem is to check for Action central bank auction and how to make the buying and selling of foreign currency in the event prove the existence of violations and corruption is assumed by the Commission to report to the Integrity Commission or the Council of the Iraqi judiciary to prove it, The Cabinet instructed Prime BSA Abdul Basit Turki assume management position central bank governor Agency. A number of media sources oversight that the Iraqi judiciary issued an arrest warrant for bank governor Sinan al-Shabibi corruption charges, pointing out that the latter fled abroad after the issuance of the note, with the bank denied the news, saying that the governor is currently involved in an annual conference in Tokyo He will return to Baghdad.
and was a member of the investigative about the work of the Central Bank of Haitham al-Jubouri confirmed, in (14 October 2012), the issuance of arrest warrants and travel ban against Central Bank Governor Sinan al-Shabibi and officials at the bank, and is regarded as the survival of the conservative abroad will prove corruption charges .
and demanded the Finance Committee in the Iraqi Council of Representatives, the first on Monday (15 October 2012), indictees central bank governor providing evidence, while some expressed fear that the accusations were “targeted politically” for the bank.
Central Bank announced in January 2012, that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, in addition to higher sales of hard currency back to finance trade neighboring countries by Iraqi traders, noting that sales of hard currency during the beginning of this year amounted to double what was sold during 2011 .
and committed the CBI in February 2012 All Iraqi banks participating in the auction the bank to buy and sell foreign currency must disclose its customers as a condition of access to foreign currency.
For the law against money laundering Iraqi in 2004, put control procedures due to institutions, especially banking, including, as required Lists of the Security Council Committee No. 1267 of the law against money laundering which stipulates the Iraqi Central Bank left and providing financial institutions a list of individuals and institutions that have on financial institutions to report to the body concerned for the Iraqi government for its dealings when they are discovered.
noteworthy that the Iraqi Central Bank hold daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays which depend on these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a commission certain.

Kurdish Representative: Nominating Turki as CBI’s Governor is against Iraq’s interest; Quick decision due to upcoming holiday,18 october

Kurdish Representative: Nominating Turki as CBI’s Governor is against Iraq’s interest; Quick decision due to upcoming holiday

Wednesday, 17 October 2012 16:20 | | |
Baghdad (AIN) –MP, Mahma Khalil, of the Kurdistani Alliance, stated “Nominating head of the Financial Supervision Department, Abdul Basit Turki, to run the Central Bank of Iraq, against the interest of Iraq and intended decision due to the holiday of the parliament.”
He stated to All Iraq News Agency (AIN) “Such decision will send a negative message inside Iraq and in the international level,” noting that “Nominating Turki is not in the interest of Iraq.”
“Only the parliament is responsible for the CBI,” he pointed out, assuring that “This decision was taken due to the holiday of the parliament where the government had to wait for the parliament to resume its sessions.”
Earlier, the Council of Ministers tasked the head of the Financial Supervision Department, Abdul Basit Turki, to run the CBI as a substitute for the current Governor of the CBI, Sinan al-Shibibi.

Iraq politicians and UN officials surprised by Shabibi’s dismissal; Raise questions,18 october

Iraq politicians and UN officials surprised by Shabibi’s dismissal; Raise questions

Question marks and surprise posed by local and UN about the dismissal Shabibi
Posted 17/10/2012 10:46 PM
The decision to the Council of Ministers to withdraw by Iraqi Central Bank Governor Dr. Shabibi from his political storm emerged from Venjanaa yesterday to turn into material political discussion and debate and give and take and possibly turn into a large carpet rotate sewn leaders of the political opposition and parliamentary against who was behind the decision to sack Shabibi for office!.
A parliamentary source important stressed that message arrived from the UN warns of dire consequences if what has government intervention direct and indirect in the affairs of the Central Bank, which is governed by its own law, which began in 2004 as reached similar letters from the U.S. embassy and institutions of transparency calls for non-interference by government action Bank Central and the need to respect its own law and sovereignty at the national cash reserves.
It is worth mentioning that the central bank governor had contributed to raise the value of the Iraqi dinar from 1500 to 1180 and remained dinar conservative on its market value between 2007 until the end of 2010 in collaboration with the Ministry of Finance over the past years as characterized that period stability Iraqi dinar exchange rate and the absence of dollarization (in case loss of confidence in the national currency is to resort to the dollar in commercial transactions) It Maadth organizations Transparency International Monetary and important accomplishment.
He Parliamentary .. in December observed a significant increase in the demand for dollar sales where the end of 2010 did not exceed auction sales central for $ 200 million a day and then jumped in 2011 to a record is $ 500 million per day, which confirms the existence of laundering and smuggling money to abroad came after the intensification of the siege on Syria and Iran.
The source noted that the objection submitted by the political forces in the parliament on the decision to withdraw the hand-Shabibi need experts Nkadian tasked with auditing and not investigated with the head of the central bank, which is protected by its own law and be held accountable in accordance with its law, which emphasizes the experience of the past ten years on the respect for the law and lack of faith in the rag.
Some objected also noted (people) are wondering: Why did not stop the central bank auction after the appearance of clear indications regarding money laundering by private banks and businessmen who got contracts (fairy) up profits to hundreds of millions of dollars and confirms Opponents said the bank did not stop the auction and disposal Central in this regard is identical to its own law on the background of your legal rule that restricts public.
(People) questioned in the stock market .. Is there corruption or theft of money from the central bank? Came the answer from 3 businessmen and 2 of the bankers .. This did not happen and will not happen because the central receiving the Iraqi dinar and the U.S. dollar gives interview by price specified in the Central Bank.
Silent opposition sources believe that the targeting Shabibi was originally targeting the central bank and the balance of the Iraqi people of $70 billion and sacked the man generally a price for standing claims of some political force in the recent government approval and many times but he was always offset

Integrity Commission: Dismissal of Shabibi attempt to return the country to the pre-2003,18 october

Integrity Commission: Dismissal of Shabibi attempt to return the country to the pre-2003

18-10-2012 12:23 PM
Free -
Considered the parliamentary legal committee, the dismissal of Central Bank Governor Sinan al-Shabibi hasty and illegal because the bank independent body belonging to the House of Representatives and not on the other hand, calling for the abolition of all independent bodies after the dominance of government and sufficiency ministries. While confirming Deputy Bank the appearance of Mohammed Saleh, said that the dismissal was unexpected because the government wanted to replace it in 2009, explained that Shabibi is currently in Switzerland.
For its part, said the Integrity Committee in the House of representatives that Shabibi pay for his refusal to the government’s request to lend the reserves of the bank earlier, noting that became independent bodies taking advantage of some of the political Blocs is an attempt to bring the country back to the pre-2003.
In an interview with the newspaper ‘term’, said Prince Kanani member of the Legal Committee ‘that sacked Central Bank Governor Sinan al-Shabibi illegal, because the bank independent body linked to the legislative power, calling on the government to take the opinion of the House of Representatives regarding the sacking Shabibi not to act unilaterally. ‘ This was the judiciary has issued an arrest warrant against Central Bank Governor Sinan al-Shabibi and his deputy, the appearance of Mohammed Saleh and bank officials on corruption charges last Thursday and prevent them from traveling . To the Council of Ministers decided, first Tuesday, the dismissal of Central Bank Governor Sinan al-Shabibi, who issued an arrest warrant on charges of corruption, and was assigned Chairman of the Board of Supreme Audit Abdul Basit Turki taking office agency.
He Kanani saying ‘that the reasons for dismissal Shabibi back to seek the Maliki government to link independent bodies Cabinet instead of the House of Representatives, pointing out that the current government took control of all independent bodies have been left in front, but the central bank, which is the last bastion of independent bodies. Article (103) of the Constitution ‘is both the central bank, and the Office of Financial Supervision, and the media and communications, and Endowment, bodies financially and administratively independent and have the House of Representatives responsible ‘.
The Federal Supreme Court issued a decision on 18 January last spend attachment independent bodies referred to in the Constitution as prime minister directly, and not under the chairmanship of the House of Representatives after the request made ​​by the government to the Federal Court for the interpretation of Article (102) and (103).
And on the possibility takeover government at all independent bodies, called Kanani MP for the Liberal bloc affiliated to the National Alliance to the need to cancel the independent bodies and sufficiency ministries, pointing out that these bodies did not become independent but Untapped from some quarters and political parties in reference to the party of Prime Minister ‘.
He added that these measures are an attempt to bring the country back to pre-2003 led one party and one person, explaining that there is a conflict between the political Blocs on building state institutions form right on it adopted on the basis of partisan dictatorship also want some parties today. In turn, considered the Parliamentary Integrity Committee issued an arrest warrant against Shabibi and his deputy, hasty dollar will be presented to collapse, revealing that Shabibi pay for refusing to lend to the government of the Central Bank reserves.
A member of the Committee Aziz Ugaili told the newspaper that the issue of the sacking of Shabibi is an attempt by the government to dominate the independent bodies, and on the other targeting the personal Shabibi being rejected earlier request of the Government, lends of central bank reserves. This was rejected by the central bank’s efforts to borrow from the government reserve bank money, which amounts to about sixty-three billion dollars to meet the shortfall in the budget, returned this step contrary to the law, and a violation of the independence of the bank.
And increased Ugaili ‘that the government took depend on the appointment of the bodies acting even be managed by’ President ‘who is the Commander in Chief of the Armed Forces and Prime Minister and Minister of Interior and Defense and intelligence chief, pointing out that these behaviors and actions will lead the country to eliminate bodies independent and democratic process’.
Ugaili MP questioned on the mass of the citizen, after targeting the head of the Electoral Commission by certain political bloc proved eliminate his innocence, and who is responsible in case of acquittal Shabibi? ‘.
So Aattabralnaúb coalition of state law, Kamal Saadi, the advocates of the central bank are politicians Mentfon of Mzhadath and financiers ‘of terrorism’, accusing some politicians affected by the suspension of corruption in the bank to stand behind, as he emphasized that the committee formed by House Speaker to investigate Bank’s policy includes the majority of the political Blocs.
Said Kamal Saadi in an interview for ‘Alsumaria News’, the’ who defend what is happening in the CBI are three categories’, noting that ‘the first are the owners of the banks who are working under the interfaces political and the second category by some politicians and MPs who enter auctions bank interfaces and Reaping millions of dollars’. Saadi added that the ‘third category are the ones who fund terrorism’, noting that ‘part of the bank’s funds go to Beirut, Amman and Dubai’,
he says. The Saadi, a member of the Integrity Committee that he ‘does not Accuse Bank Governor Sinan al-Shabibi, but accused some politicians who have been greatly affected by stop operations corruption in the Central Bank ‘.
Saadi denied that ‘The Committee shall be set up by the President of the House of Representatives has captured a coalition of law’, confirming that it ‘includes the majority of the political Blocs’.
For his part, revealed the deputy governor of the Central Bank of the appearance of Mohammed Saleh, said that the government is seeking to replace Shabibi since 2009, but it linger, stressing that he is unaware of the reasons for the sacking of Shabibi. Saleh added in a statement to the newspaper ‘long’, on Wednesday, that the impeachment was expected to head the Central Bank Sinan Shabibi because the government wanted to replace it before this period, but it linger, adding that the reasons are unknown so the moment we do not know and need more time to reach it ‘.
He continued by saying ‘that’s become confused because we do not know the true dimensions, indicating’ I Samthel front judiciary at any time to be determined because we have not the price in any transactions or suspicion of corruption, adding that the central bank chief currently in Switzerland because he holds nationality ‘.
Saleh explained ‘that the problem occurred a few months ago after an increase in demand to buy the dollar and the flow of the dollar, adding that the problem of regional had a clear impact on the country and the occurrence of this problem, as well as the government did not give the provinces and ministries hard currency only rely on dollar ‘.
Saleh also highlighted that the ‘country’s trade with Neighboring countries open and affected by it, in addition to the high budget for Iraq in recent years, as well as the withdrawal of US troops, which coincided with the exit of some investors led to what got the case, explaining that from the transfers of State of the dollar Iraqi companies and not a foreign ‘.
The chairman of the Parliamentary Integrity Committee, for reasons which called for the sacking of Central Bank Governor Sinan al-Shabibi from office, while pointing to the existence of 30 issued arrest warrant for al-Shabibi and his deputy.
The head of the Integrity Committee Bahaa al-Araji, said in press statements ‘, that’ the issue of central bank governor article unrelated files or financial operations of corruption also promoted, but the cause of Impeachment issued after special instructions Bcbibi and procedures led to the increase in the price of the dollar against the dollar ‘.
The accusations by the deputies in the parliament to the Central Bank of the existence of corruption and money laundering in the auction sale of the currency.
He attributed the Central Bank Governor Sinan al -Shabibi on numerous occasions reasons for the high exchange rate of the dollar against the dinar to ‘double domestic production and the lack of the country’s exports excluding oil, weak government action to attract capital to Iraq, as well as the political situation tense internally and regionally, and the economic blockade suffered by some Neighboring countries.
Araji said that ‘arrest warrants issued against al-Shabibi and his deputy, a 30 note, but no warrants have been issued a travel ban against them.’ The source said for the ‘ Twilight News’ yesterday that the Council of Ministers decided to appoint Abdul Basit Turki central bank governor agency.
The central bank held daily sessions of currency auction except Fridays and public holidays, and the participation of a group of Iraqi banks, within which the sale and purchase of foreign currency, and the central bank process currency converter sold abroad, for some companies and citizens for a commission certain.
The Central Bank set of specialized committees to combat money laundering, and money, crime and the financing of terrorism, and it was the anti-money laundering law in 2004 to establish procedures of control due to banking institutions, particularly ones.
He revealed the central bank governor and agency Abdul Basit Turki, the report BSA reservation on some transactions currency auction, while stressing that the results of the investigation will be presented to the public after the completion, expressed the hope that freezing does not affect Shabibi on trading bank with international banks.
Said Abdul Basit Turki said in an interview for the ‘Alsumaria News’, the’ report BSA who was sent to the Integrity Commission about the existence of corruption in the Central Bank guarantee check transactions currency auction of the period between the first of January last until early last August, where she was There are cases of the absence of follow-up and monitoring the private banks’
stressing that ‘the reservation to report some hard currency auction transactions conducted by the bank.’
Turki added that ‘the results of the investigation on the existence of corruption in the Central Bank will announce to the public until the completion of the investigation’, and expressed the hope that the ‘freezing does not affect Shabibi on the Bank’s workTel and his Dealings with the international banks’.
Turkish considered that ‘the continued currency auction and support the right direction is necessary’, stressing the importance of ‘transactions to be carried out in a real bank transactions’.