CENTRAL BANK OF IRAQ - An Introduction and Additional Information

Introduction

The primary objectives of the CBI is to achieve, maintain domestic price stability, and foster a stable competitive market based financial system. The CBI shall also promote sustainable growth, employment and prosperity in Iraq.

The functions of the CBI in addition to achieving the objectives mentioned above is:
Formulate and implement monetary policy including exchange rate policy for Iraq.

Hold gold and manage the state reserves of gold.

Issue and manage Iraq currency.

Establish oversee and promote sound and efficient payment system.

Issue licenses or permits to banks and to regulate and supervise banks as further specified this law and in the banking law.

Carry out any ancillary tasks or transactions in accidental to the exercise of its functions under Iraqi law.

CBI Holidays in 2010 in addition to Friday and Saturday.

Holiday	Date
New Year's Day	1-Jan
Army Day / 1921	6-Jan
Prophet's Birthday	* 28-Feb
Spring Day	21-Mar
Falling of the regime	9-April
Labour Day	1-May
14th July Revolution / 1958	14-July
Id Al- Fitr (3 Days)	* 10-Sept
Id Al- Adha (4 days)	* 17-Nov
Islamic New Year	* 8-Dec
Ashoura Day	* 17-Dec

Dates noted with asterisk (*) are approximate

Governor

Profile:

• Consultant on Trade, Debt and Finance.
  
  
• Was until retirement a Senior economist at the United Nations Conference on Trade and Development (UNCTAD).
  
  
• Undertaken research on Financial flows, Economics of disarmament, Balance of Payments, External debt, Globalisation, and the Iraqi Economy.
  
  
• Managed projects for the implementation of policy, analytical and institutional aspects of debt management including the implementation of UNCTAD's Debt Management and Financial Analysis System (DMFAS) in several Arab countries. Familiar with the macroeconomic and operational aspects of the "Debt Sustainability Model (DSM)" of the World Bank, and with the HIPC initiative.
  
  
• Coordinated UNCTAD's work on OPEC financial flows to other developing countries resulting in the production of numerous reports on the subject.
  
  
• High-level contacts with Government Officials especially in the Arab region.
  
  
• Delivered numerous lectures and talks on the "Economic Prospects of the Iraqi Economy" in many international fora.
  
  
• Extensive travel experience in connection with work on debt management, OPEC Financial Flows and the work on the Iraqi economy.
  
  
• Strong quantitative background and high-level computer literacy.

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Academic Qualification:

• 1966 Baghdad University, College of Economics and Political Sciences, B.Sc. (Economics), First Class Honour
  
  
• 1970 University of Manchester, Diploma in Advanced Studies (Economic Development)
  
  
• 1971 University of Manchester, M.A. (Economics), Department of Econometrics
  
  
• 1975 (March) University of Bristol, England, Ph.D. (Economics), Department of Economics

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Experience and Career:

• United Nations Conference on Trade and Development (UNCTAD)
  December 1980 - Oct. 2001
  
  
• Ministry of Planning, Iraq
  Chief, Plan Preparation and Co-ordination Division
  April 1977 - December 1980
  
  
• Ministry of Oil, Iraq:
  Head Importation and Marketing Section
  May 1975 - March 1977

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Teaching Experience:

• 1994-2000
  Geneva University
  School of Translation and Interpretation (Arabic Language Unit)
  - Introductory Economics and International Economics (in Arabic).
  
  
• 1989 (Oct.-Dec.) & 1990 (May-July)
  Webster University, Geneva.
  -Statistics and Introductory Econometrics to MBA students.
  
  
• 1979 -1980
  Baghdad University, Iraq
  Regional and Urban Planning Centre
  -Delivered lectures on "Economic Planning" to M.Sc. students.
  -Participation in the examination of MA dissertations.
  
  
• 1975 - 1976
  Mustansiryah University, Iraq
  College of Administration and Economics
  -Introductory Econometrics to B.Sc. students.
  
  
• 1966 -1968
  Demonstrator, Statistics Department,
  College of Economics and Political Sciences,
  Baghdad University, Iraq
  
  Nationality: Iraqi
  Date of Birth: 1 July 1941
  Marital Status: Married, 2 children
  Languages: Arabic (Mother Tongue), English (Fluent), French (Good Knowledge).

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Areas of Specialization

• Econometric Model-Building,
  
  
• External debt management, with emphasis on macroeconomic and analytical aspects,
• Debt Sustainability Analysis,
  
  
• Analysis of Balance of Payments,
  
  
• Financial Flows from OPEC countries, especially from Arab Financial Institutions,
  
  
• The economics of petroleum and energy,
  
  
• The development problems of Arab countries and the Middle East region in general,
  
  
• The Iraqi Economy, and
  
  
• Development implications of trade and financial Globalization.

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Publications

• "Globalisation of Finance: Implications for macroeconomic policies and debt management", March 2001, Paper presented to a conference on "Globalization and the Gulf organized by the institute of Arab and Islamic Studies, University of Exeter, England, 2-4 July 2001.
  
  
• "Prospects for the Iraqi Economy: Facing the new reality". Paper presented to a conference on "The Future of Iraq", organized by the Middle East Institute, Washington. The paper was published in a book with the same title in November 1997 and reprinted in the UNCTAD secretariat. It deals with the effect of sanctions, debt, and war reparations on the future prospects of the Iraqi economy.
  
  
• "The Arab share in OPEC Aid: Some related facts" in Arabic, in Al-Mustaqbal Al-Arabi, Centre of Arab Unity Studies, Beirut, September 1988.
  
  
• "OPEC Aid, Issues and Performance" in the OPEC review, Vienna, spring 1987.