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Sinan Al-Shabibi denies a link to central bank fraud or money laundering in relation to foreign currency auction

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Sinan Al-Shabibi denies a link to central bank fraud or money laundering in relation to foreign currency auction
Saturday, 10 November 2012 19: 32



{Baghdad: Euphrates news} denied the arrested Central Bank Governor Sinan Al-Shabibi work of any bank relationship in administrative corruption or money laundering in relation to foreign currency auction.

Speaking at a press conference held today by the television service from his residence in Geneva attended by correspondent {Euphrates news} that "the Central Bank has provided economic and financial stability and price through exchange rate stability and reducing inflation and also provided issues relating to general stability and the stability of payments there is no problem in government payments.

Al-Shabibi said that "the Bank provided for in the development process but the Government did not take advantage of the stability of the situation," he said, "that wouldn't shove by the Central Bank in this case."

"The auction of foreign currency by the Central Bank within monetary policy only to withdraw the Iraqi currency, thus reducing pressure on prices and other objective provide people who import foreign currency".

Al-Shabibi said that "Central Bank providing funds in the event of a person's bank account and has Iraqi dinar without constraint to the reserve is available and if not available we must raise the exchange rate objective basis of cash Central Bank auction and not to another."

"There is no Central Bank in the world to oversee all financial operations at banks as the Bank's work is the question banks, citing that such operations do not fall under money-laundering only in money laundering".

Al-Shabibi said that "anti-money laundering Department under the Central Bank now is a money laundering operation and that the DRC some deputies to give information on money laundering, is in fact a bank irregularities."

The "trip to money-laundering and information thereon are available for laundering and supposedly foretells the suspicion of money laundering".

Al-Shabibi said that "all Central Bank officials are honest in their work and that information on all available currency sales and I very upset that suspicions about Central Bank protested the theses".


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