Iraqi lawmaker: Investigation ongoing into CBI's governor's extended interim appointment

Shafaq News/ Hadi Al-Salami, a member of Iraq's Integrity Committee, disclosed on Thursday that his committee has been investigating the prolonged appointment of Ali Al-Allaq as Governor of the Central Bank of Iraq (CBI) for over a year. 

Al-Salami told Shafaq News Agency that the committee had repeatedly urged Prime Minister Mohammed Shia Al-Sudani to "terminate Al-Allaq's interim appointment due to numerous alleged violations," emphasizing that the government's agenda, as outlined by the Prime Minister during the formation of the government, mandates the termination of acting positions within six months. "Despite this, Al-Allaq continues to hold the position without any official action to end his appointment."

The Integrity Committee has referred several issues concerning CBI to the Integrity Commission and the Public Prosecutor. These issues include alleged mismanagement of exchange rates and concerns over substantial sums of money and benefits accruing to various Arab and foreign banks, including those from Jordan.

Al-Salami also revealed that the "Acting Speaker of the Parliament has agreed to host CBI's Governor in upcoming sessions," indicating that "numerous questions will be posed to Al-Allaq during this session."

In response, Al-Allaq stated to the Iraqi News Agency that meetings are scheduled with the Federal Reserve and the US Treasury Department at the end of August. "These discussions will focus on external transaction processes and the sanctions imposed on certain banks."

Al-Allaq defended his leadership, asserting that "the Central Bank has successfully managed external remittances and the sale of dollars."