The Iraqi cabinet removed the Governor of the Central Bank of Iran (CBI) Sinan al-Shabibi from his post over allegations of corruption related to the fall in the value of the Iraqi dinar in April. It appointed ‘Abd al-Basit Turki, the head of the Board of the Supreme Audit Bureau, as interim governor.

MEES learns that Dr Shabibi denies the allegations and plans to submit a petition signed by large numbers of professionals rejecting the action to Iraqi President Jalal al-Talabani. The move is an orchestrated campaign to besmirch Dr Shabibi’s name and in the process gain control over the CBI and its $65bn in reserves, said one source with knowledge of the matter. (CONTINUED - 286 WORDS)