Iraq's SJC endorses retirement of CBI Governor at legal age

Shafaq News/ Iraq's Supreme Judicial Council (SJC) endorsed the State Council's decision to retire Central Bank (CBI) Governor Ali Al-Alaq upon reaching the legal age, following an inquiry from the House of Representatives on the legality of his continued tenure.

The SJC, in an official document, a copy of which was obtained by Shafaq News Agency, stated that “the Studies Committee at the Judicial Oversight Commission reviewed Al-Alaq's continuation in office, reaching the same opinion as the State Council, which confirmed he has exceeded the legal retirement age.”

The State Council clarified that Clause 1 of Article 103 of the Constitution establishes the CBI as an independent financial and administrative body accountable to the House of Representatives, and that Article 2 of the CBI Law, issued under Coalition Provisional Authority Order No. 56 of 2004, confirms its status as a legal entity with full capacity, independence, and accountability.

Furthermore, the Council noted that “the law mandates automatic retirement at the legal age unless specifically exempted, and since there is no exemption for the Governor, retirement at the legal age is required,” affirming that “heads of independent bodies must retire at the legal age.”

Notably, Dr. Ali Mohsen Al-Alaq, Governor of the CBI since 2014, is a financial expert with over 30 years of experience who has led key anti-corruption and counterterrorism initiatives, including implementing Iraq's AML/CFT legislation and contributing to the National Strategy for Combating Corruption.