Central Bank of Iraq criticizes the Federal Court decision which connects independent bodies under the chairmanship of Minister

Central Bank of Iraq, criticizing the decision of the Federal Court decision to link independent bodies under the chairmanship of cabinet and not under the chairmanship of the parliament, and that this constitutes a threat to the Iraqi funds.

The bank said in a statement issued on Monday and received a copy of the Sumerian News that "we have developed under the auspices of the government according to the Federal Court decision makes the Bank's assets abroad are subject to seizure by creditors."

The bank said that the independence that the "prescribed by law was and is still the only thing that guarantees are not exposed Iraq's financial resources abroad for procedures for the confiscation of international creditors," adding that "those goals do not necessarily coincide with the objectives of the executive branch."

The Bank continued to "stay away from the executive authority is required by the current phase and future as Ttlapth phase that followed the fall of the former regime," according to the statement.

The Federal Supreme Court issued a decision in January 18 this provides a link independent bodies referred to in the Iraqi constitution, including the Central Bank under the chairmanship of Prime Minister directly, not under the chairmanship of the House of Representatives, and the decision came at the request to show a link bodies of Cabinet Office submitted to the Federal Court in second week of December last year.

Iraq is still facing claims for compensation from the Kuwait war in 1990 was also faced with paying hundreds of millions of dollars in private suits in the United States as soon as he left the sanctions imposed by the United Nations under Chapter VII.

The leader of the National Alliance, Bahaa al-said in an interview for "Alsumaria News", the first on Saturday, said that "a disaster will be resolved on Iraq, when linked to independent bodies of the Cabinet," noting that "the Central Bank of Iraq is one of independent bodies, even if associated with prime minister, funds will be transformed into government money and this means that all of Iraq requests funds will book them and take these stocks are the billions of Iraqi currency. "

Has included a chapter IV of the Constitution of the Republic of Iraq for the year 2005, independent bodies within the articles (102-108) promised to the Constitution in Article (102) each of the High Commissioner for Human Rights, the Independent Higher Commission for Elections and the Integrity Commission, independent bodies operate under the control of the House of Representatives, and thus associated with these bodies the highest legislative authority in the Iraqi constitution, and is organizing its law issued by the Council of Representatives.

The earlier decision of the Federal Court of reactions by the political blocs in which he described the Kurdistan Alliance, last Thursday, the Federal Court decision to "not successful", adding that it could dilute the independence of these bodies. It also considered the Iraqi List, in the words of spokesman Haidar al-Mulla that the decision was a coup the Constitution, a claim the presidency of the Council of Representatives and leaders of political blocs to take a firm stand to protect democracy in Iraq,

The Supreme Judicial Council on the lips of his spokesman, Abdul Sattar Bayraktar that "the decisions of the court is bound by all the authorities not subject to appeal any decision of its decisions or to resolve the court and re-appointment of other persons," noting that "every point of consideration to any decision by the Federal Court from the standpoint of partisan or personal interests."

The text of the law set in 2004 by the U.S. civil administrator in Iraq Paul Bremaraly the independence of the central bank, the Bank was granted the task of ensuring price stability in the home and building a stable financial system, competitive and market-based view to promoting sustainable growth and employment and prosperity in Iraq.

The Iraqi Constitution refers in the door the fourth under the title (independent bodies) to a number of bodies and organs, Kdioan financial control, and Communications and Media Commission, and National Commission for de-Baathification, which replaced the Supreme National Commission for Accountability and Justice, as the Constitution defines the nature of their relationship to the House of Representatives or Council of Ministers.

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