Central Bank Governor: we aim to maintain the dinar and guarantee not to sell the dollar to non-eligible

Posted on Sunday, 21 October 2012 14: 52.





Baghdad/Obelisk said the Central Bank Governor said the Bank's current policy seeks to restore confidence in Iraqi dinars and not to allow the economic downturn "ill-advised," saying the new administration focused on rearranging foreign currency auction and ensure no smuggling of funds or the sale of the dollar amounts are not eligible.


Alrczi Bank Governor Abdel Basset Turki Agency for "the Obelisk", "meeting of the Administrative Board and the directors of the Central Bank discussed the necessary steps to ensure the stability of the value of the Iraqi currency in comparison to US dollar and ensure non-retrogression.


He noted that "the subject delete zeros not being discussed now that the new management of the Bank currently focus on rearranging foreign currency auction and ensure no smuggling of funds or the sale of the dollar amounts not eligible thereafter will jump to other important central projects.


Turki said "the Bank stressed during the meeting of departments of civil procedures banks selling currency for citizens according to the controls and its call for those banks to submit documents required for people who have been selling the dollar."


He said "the Bank will check names and compatible with existing lists.





Cabinet decided to sack Central Bank Governor Sinan Al-Shabibi and mandated audit Abdel Basset Turki instead.





Later on the news of the warrant against Al-Shabibi said Central Bank Deputy Governor Mohammad Saleh appearance for "Obelisk" that Dr. Bank Governor Sinan Al-Shabibi, who was attending a Conference in Japan longer to Iraq but went from Tokyo to Europe, noting that Al-Shabibi told them he would return to Baghdad two days later


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Abdel Basset Turki was Minister of Human Rights in the cabinet appointed by the Iraq Interim Governing Council in September 2003. He resigned in April 2004 in protest at the deaths of over 600 Iraqis during the siege of Falluja.

In November 2003 Turki demanded access to the captured "Most-wanted Iraqi playing cards", saying they were not all prisoners of war. He condemned human rights violations by US and allied troops in the Combined Joint Task Force 7. He called for victims to be paid compensation.

After the emergence of the Abu Ghraib torture and prisoner abuse scandal in May 2004, Turki stated that he had complained to Paul Bremmer, the US head of the Coalition Provisional Authority in November 2003 of human rights violations in Iraqi jails but had "received no answer".

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Timmy thanks for the post. I really like this paragraph:

He noted that "the subject delete zeros not being discussed now that the new management of the Bank currently focus on rearranging foreign currency auction and ensure no smuggling of funds or the sale of the dollar amounts not eligible thereafter will jump to other important central projects.

the Bank's current policy seeks to restore confidence in Iraqi dinars

Now, I'm not sure whose confidence this line is referring to but the words "confidence" as it relates to the dinar cannot mean anything less than a strong dinar that reflects the value of its country. "Restore" to me hopefully is referring to what it was before the war.

I dunno, I just don't see any confidence from anyone in the dinar until it truly is "restored." Just sayin'

bump