Iraq News - Local News - Baghdadpost

Parl't to question sacked central bank governor over 'damaged' money

central bank governor ali al-alaq
Ali al-Alaq

The Iraqi parliament’s chamber of information will host in a session on Wednesday with the sacked governor of the central bank in the wake 7 billion Iraqi dinars being declared damaged due to rain.

Former Central Bank Governor Ali al-Alaq, members of the board of directors and director of the Iraqi Trade Bank will be hosted in the session, according to a statement from the parliament.

The statement pointed out that the agenda also includes considering the appeals filed on the validity of the membership of some of MPs, in addition to voting on the wording of a resolution about the recent decisions of the previous cabinet.

Prime Minister Adil Abdul Mahdi sacked Alaq from the governorship of Iraq’s central bank after the latter announced the damage of billions of dinars due to rain, informed political sources said on Friday.

Alaq's announcement of 7 billion dinars being damaged at the Rafidain Bank because of rain has drawn sharp political and social criticism, with calls for the federal government in Baghdad to open an investigation into the incident, which may reveal much corruption.

Over the past 15 years, Iraq has reportedly lost €194 billion of public funds. Corruption is responsible for this through methods including fake contracts and salaries for fictional employees.