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View Full Version : CBI Former Governor Refused Granting money to PM PDF



JWing
04-10-2013, 02:05 AM
Last Updated on Tuesday, 09 April 2013 18:17 Tuesday, 09 April 2013 15:01


http://www.shafaaq.com/en/images/2013/4/4/filemanager.php.jpgShafaq News/The Parliamentary Committee of Integrity announced that the governor of Iraq’s central bank, Sinan al-Shabibi was dismissed because he refused
to grant money to the government’s head.
Jawad Al-Shaheli, a member in the Parliamentary Committee of Integrity said at a news conference attended by “Shafaq News” Iraq’s tribune dismissed charges of wasting public money against Shabibi and that the investigation proved there was no corruption in the central bank, but “money laundering carried out by some banks and commercial institutions”.
“Targeting al- Shabibi was personal, it was not an anti-corruption move regards a waste of public money as they claimed,” Al-Shaheli said.

“Shabibi’s staff was and still one of the best financial and economic one”.
Al-Shaheli also revealed that both judiciary and legislature authorities demanded the government to detail the amount of damage made to the public money but there was no response.
Regarding the reasons behind the removal of Shabibi from office is “his refrain from giving Prime Minister, Nuri al-Maliki, an amount of Iraqi capital reserves to fund the government, which is outside the framework of law and fairness”.
The Iraqi government decided at the end of October 2012 to appoint the head of the Financial Supervision Office Abdul Basit Turki as CBI’s governor to replace the dismissed Shabibi who accused of bad management of the funds

http://www.shafaaq.com/en/politics/5748--cbi-former-governor-refused-granting-money-to-pm.html

Screaming Eagle
04-10-2013, 02:16 PM
This can greatly affect any foreign investments and is one of the reasons Maliki fought against redenomination. Now the politicians and govt has control of the money supply and will spend CBI assets for their favorite projects for which they will receive massive kick backs while the dinar is devalued. The CBI is already showing a decrease in assets.

Uno
04-11-2013, 12:00 AM
The next question is, when will this affect ISX growth and profits to a point where it is not worth the risk?
I'm thinking if the CBI assets continue the downward trend, then I'll be out of the ISX by end of 2013.
Hopefully BWAI, BDFD and HPAL relist so I can sell them before leaving....
Thanks for your input SE! I always appreciate your expertise!

This can greatly affect any foreign investments and is one of the reasons Maliki fought against redenomination. Now the politicians and govt has control of the money supply and will spend CBI assets for their favorite projects for which they will receive massive kick backs while the dinar is devalued. The CBI is already showing a decrease in assets.