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Ex-chief of Iraq central bank says his sudden removal was government effort to seize control

Published: November 9, 2012
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Source: Washington Post

The ousted governor of Iraq’s central bank has criticized his removal amid accusations of financial wrongdoing as an attempt by the government to seize control of the institution.

Iraqi authorities abruptly fired longtime bank governor Sinan al-Shabibi and issued arrest warrants against him and other bank officials last month. The moves came after a parliamentary committee began investigating alleged improprieties at the bank.

Al-Shabibi insisted on his innocence and that of other bank officials in a phone interview with The Associated Press on Friday.

He says he is worried about the future of bank’s independence and believes that his critics do not understand how central banking works.

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