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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Shabibi "long": I learned judgment against me through the media and government interventions in mone

    Bama Diva
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    • Post n°1

    Shabibi "long": I learned judgment against me through the media and government interventions in mone Empty Shabibi "long": I learned judgment against me through the media and government interventions in mone

    Post by Bama Diva Sun 07 Sep 2014, 9:03 pm


      Shabibi "long": I learned judgment against me through the media and government interventions in monetary policy harmful






    [ltr]09/08/2014 (00:01 pm)


    BAGHDAD / Ghazanfar Laibi 



    Called economists Iraqi government to reconsider the charges against the former central bank governor and an expert on money (Shabibi), as described the judiciary as "politicized" called on the government not to intervene work of independent bodies, also considered the nomination of Secretary General of the Council of Ministers on the Keywords for the position of governor CBI proof attempts influential parties in the acquisition of the work of independent bodies. In turn, stressed Shabibi said the Iraqi government has numerous interventions in the Bank's work, describing such interventions as "harmful" to the monetary policy pursued by the CBI.


    The press reports confirmed that the Federal Supreme Court issued a 7-year prison sentence against the former Central Bank Governor Sinan al-Shabibi on the basis of the charges against him during his administration the bank.


    He says former central bank governor Sinan al-Shabibi regarding the charges against him, "I do not know what the charges and on what basis was sentenced, and if it were the auction of foreign currency, this auction is monetary policy, a key to the bank and still the bank followed, a clear policy based on the swap of the Iraqi dinar US dollar , "noting that" this swap is purely a cash dollars for dinars using the exchange rate is determined by a particular bank, and the bank does not reject any request for exchange of cash if it was devoid of legal and administrative problems. "


    He Shabibi said that "reject any request could create a market last exchange rate another, which leads to the phenomenon of price multiple, either as buying the dollar, this issue does not relate to the central bank, where it business case is not pursued by the central bank, however, the Bank continues cases of money laundering by the Directorate concerned at the bank, which received a copy of the requests for the auction. "


    He said, "I have not received anything written about the verdict against me did not reach anything to the lawyers who cost them to defend me," adding, "I learned the subject of the court ruling issued against me through the media and news agencies, and specifically from the agency Alsumaria News, which reported the story."
    He stressed that "numerous attempts to interfere in the work of the central bank by the government, and this interference is going on in his policies or to get money from bank reserves," pointing out that "these interventions harmful efforts of the bank to control inflation which is the main objective of the bank because they affect the policies in this field. "


    He Shabibi said that "independent bodies essential part of the federal authorities, according to the Constitution, which is generally independent in their work, and this is an important issue as it comes to the central bank, which enjoys financial and administrative autonomy and independence in the formulation of policies," adding that "autonomy with regard to the matter Bank Central comes mainly from that printing money must be independent of the use of money. "


    He added, "There is no doubt that judicial rulings and arrest warrants will have Atheraly competencies that the country wants to take advantage of them, that judicial action is necessary and essential in general to examine the issues raised on the basis of a qualified technician to understand."
    It was not possible for the "long" clarification of the Federal Supreme Court judgment on the nature of the charges against al-Shabibi because of the court's response to the repeated contacts.


    As he says economic Raad Hamid al-Jubouri said in an interview to the "long", that "the judgment against the one of Aftahal economy in Iraq puts a thousand question mark on the Iraqi judiciary, noting that the Central Bank Law works in accordance with the law granted immunity from the simplest employees to higher positions," noting that "Alstalh wanted to work on the acquisition of independent bodies for it, one way or another, is a thorn in the eyes of the political parties that are trying to acquisition decisions of independent bodies such as the Integrity Commission and the Central Bank and the Electoral Commission."


    The main tasks of the Iraqi Central Bank to maintain price stability, and implement monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, in addition to regulating the sector banks.


    He said al-Jubouri, an economic analyst, said that "the problem of the government with the central bank governor, former began when the latter refused a request to grant the government an amount of five billion dollars from the reserves the bank for transactions related to electric power, was revealed later about the existence of corruption in those deals that concerning the purchase of power plants and other ", adding that" money reserves in the Central Bank is dedicated to the Iraqi people, as well as used in the event of natural disasters such as floods, earthquakes and other ".


    He pointed out that "arrest warrants issued recently against the people heading pyramid independent bodies is a conflict of wills and process my arms," ​​noting that "Shabibi was able to say the word" no "to the prime minister so now exposed to this position and is facing charges of malicious". He added by saying that "Shabibi is considered a personal substantial economic at the international level, it is shameful to be questioning his integrity."


    For his part, says an expert in foreign trade Abdel Azim al-Khafaji, in an interview for the "long", "The issue of Shabibi Gert politically at the expense of the economy and monetary policy of Iraq," noting that "the nomination of Secretary General of the Council of Ministers on the Keywords for the management of the Central Bank of Iraq is clear evidence of the Attempts powerful political actors to acquire the capabilities of the central bank and impose its control over the money of the Iraqi people. "
    Khafaji said that "Shabibi is one of the main pillars of the economy to the level of Iraq and the world and is one of the important references in the world of global finance and economics and is an international consultant opinionated taken in international forums."


    He pointed out that "try to put people belong to political parties known to the management of the Iraqi Central is a circumvention of the law and the work of independent bodies, an attempt to absorb the wealth of Iraq and wasted unjustly."


    He stressed that "the charge of Shabibi is innocent ones, because they relate to banks and personalities (parasitic) that live on corruption," pointing out that "the charge is related to a difference price winning when selling the Central Bank of the dollar and the price at which the real sold the dollar which in the banks, nor the relationship Shabibi to this subject. "


    In the same context, says an economist Maytham Laibi "long", that "Dr. Sinan Al-Shabibi, the son of Sheikh known as Mohammad Reza Shabibi, who is one of the symbols of Iraq Patriots, a Minister and Deputy Chairman of the Council of elders and writer, and the Shabibi brother Asaad al-Shabibi, known for his opposition to the dictatorship ".
    He Laibi saying "in the era of Al-Shabibi has to accumulate foreign reserves at the bank amounted to more than 76 billion dollars, after it was the Iraqi economy owes to the outside, as the procedures that will save money in international banks Amina", noting that "one of the tasks Home carried out by the Central Bank of Iraq after the 2003 replacement of the old Iraqi currency; poor-quality new Iraqi currency with good specifications in terms of quality of paper used and the differentiation of colors and sizes, what restored confidence in this currency, whether in front of a local audience or the outside world. "


    He stressed that "the period of the assumption Shabibi position of governor of the Iraqi Central Bank did not witness any fluctuations, but the limits of normal and acceptable through currency auction, which counted a successful mechanism to meet the demands of the market to foreign currency sold by the central bank to the public, has succeeded in maintaining the exchange rate of the Iraqi dinar," pointing out that the "currency auction is on the other hand an important tool used by the central bank to soak up excess cash and then maintain a low inflation rates, has been the mechanism itself a tool to stimulate private business to meet the needs of consumer and investment for the local economy what set the tone for the relationship of foreign trade, especially and that the Iraqi economy is suffering from severe dependency on a single source has a close relationship with the outside world export and import activities, as well as its role in activating Auction currency in banking activity. "


    He continued by saying that "Shabibi tried in earnest to maintain the independence of the central bank and stop the general executive authority to connect to the Central Bank, in a famous incident in which refrained from lending large sum of money."


    The CBI had announced, in (August 11, 2012), about the height of its reserves of hard currency to 67 billion dollars, stressing that these reserves are the largest in the history of Iraq, pointing out that these reserves is one of the monetary policy to reduce inflation in Iraq.


    The head of the House of Representatives Osama Najafi revealed, in (October 7, 2012), about the existence of suspicion of corruption in the work of the Iraqi Central Bank, while noting that the Council proceeded to achieve the "depth" in the policy of the central bank since 2003, has vowed to pursue the investigation "personally "the importance of the issue.


    And formed the Presidency of the Council of Representatives (August 12, 2012) of an investigative committee will visit the Central Bank and the aspiration of the records and the numbers and sales people who get hard currency, where it was the work of the investigative committee is different from the work of the Oversight Committee, which approved the Council's composition, which includes the heads of the Committees of Finance and Economic The Office of Financial Supervision.
    Shabibi was chosen in 2012 among the top five global economic figures in the list of 500 most powerful Arab figure in the referendum, which issued the global news site dedicated to money and the economy Arabian Business.


    It is noteworthy that the frequency of the accusations mounted about the smuggling of currency, which has cast a shadow on the sale price of the dollar in the local markets and led to an increased rate of exchange a few months ago, while lawmakers have demanded the need to take the initiative on the government to stop selling the currency at auctions the central bank, others stressed that Iraq is losing big money due to smuggled daily out of the border, despite the praise of many specialists in economic affairs on the positives of the auction to reduce the rates of inflation and to control the value of the Iraqi dinar.


    The Presidency of the Council of Ministers demanded earlier Deal by independent bodies, arguing that by inflicting these bodies is unconstitutional.


    The Federal High Court issued a decision, in January 18, 2012, provides for attachment to independent bodies referred to in the Iraqi constitution, prime minister directly, and not under the chairmanship of the House of Representatives, and the decision came at the request presented by the Prime Minister's Office to the Federal Court on 2 December last year. , to illustrate the point of the link.


    He called on the Iraqi Central Bank, in January 24, 2011, the Federal Supreme Court to issue a declaratory decision illustrates a second judge its first resolution linking independent bodies, headed by ministers and not headed by Parliament, warning of the risks it faces many of the country in the event of leaving the decision without explanation.


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