25/01/2011Central bank governor rejects the Federal Court decision
Baghdad - "Weekly": warned Iraqi Central Bank Governor Sinan al-Shabibi Tuesday of the dangers of applying the Federal Supreme Court decision of linking independent government bodies because it "will lose Iraq the responsibility to protect its assets abroad."
A statement of the Office of the President of the House of Representatives for Osama al-Shabibi as saying that "the decision will lose Iraq claimed responsibility for the protection of its assets and deposits abroad."
The Federal Court issued a resolution last week linking the independent bodies, including the Central Bank of the Council of Ministers.
Shabibi said that "the independence of the Central Bank has been and remains the only guarantee for non-submission of financial resources outside of the Central Bank of Iraq to the seizure and confiscation measures by the international creditors."
It is not possible to know the size of Iraqi funds abroad to be exact, but some sources refer to it up to sixty billion dollars.
He Shabibi Nujaifi and "the need to preserve the independence of the Central Bank as the only guarantee for non-submission of financial resources outside of the Central Bank of Iraq to the seizure and confiscation proceedings," according to the statement.
The meeting was attended by Economic Advisor to the Central Bank of the appearance of Mohammed Saleh.
The Federal High Court issued in the January 18 decision to link the Central Bank of the Cabinet, citing the "predominance of the Executive of the Bank and its activities."
It is said that the decisions of this court is not subject to appeal.
The court issued a decision according to the inquiry of Prime Minister Nuri al-Maliki is considered to be linked to some independent bodies with the operational nature of their work in the House of Representatives is not in conformity with the competence of the Council and contrary to the principle of separation of powers.
But the bank said in another statement that "the reference is the Central Bank of the House of Representatives because the Constitution provides as follows + The central bank is responsible before the House of Representatives + and use of these words emphasize the exclusive responsibility of this House without the other authorities."
"The Bank's relationship with the government, as specified by law are limited to consultation and coordination between monetary and fiscal policy and matters of common interest and responsibility in addition to providing advice."
Later, search Nujaifi with the delegation of the Council of the Electoral Commission for elections under the chairmanship of Faraj al-Haidari court's decision as well.
He said the parties "the seriousness of this resolution and the threat to the democratic system in Iraq, and its impact on the independence of the Board of Commissioners and the consequent serious consequences on the future political system," according to a statement from the Office of the President of the Parliament.
The Central Bank and the Electoral Commission and the Office of Human Rights and the integrity of the most prominent "independent bodies" prescribed by the Constitution and under the control of parliament, while the Financial Inspection Office and the media linked him directly.
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