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Iraq replaces bank chief after graft probe

Baghdad, October 16, 2012

Iraq replaced its central bank chief, Sinan al-Shibibi, on Tuesday after a corruption investigation into the bank by a parliamentary committee, Prime Minister Nuri al-Maliki's spokesman said.

The decision was seen by some critics as the latest move by the government to gain more control over the central bank and other financial institutions.

Maliki won a court ruling in January 2011 that put the central bank and other independent entities under cabinet supervision, raising concerns over attempts to consolidate power by the Shi'ite prime minister.

The cabinet appointed Abdul-Basit Turki, the head of the government spending watchdog, Iraq's Board of Supreme Audit, to run the bank "until further notice", Maliki's media advisor Ali al-Moussawi said.

A report was sent to Iraq's Integrity Commission, the highest investigation body, following corruption accusations by some lawmakers against the bank.-Reuters

Tags: Iraq | Corruption | investigation | replace |

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