Central Bank of Iraq (CBI)

The CBI

The primary objectives of the Central Bank of Iraq (CBI) is to ensure 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 its primary objectives are:

• Implement the monetary policy and the exchange rate policy of Iraq.
• Hold gold and manage the state reserves of gold.
• Issue and manage the Iraqi currency.
• Establish, oversee, promote a sound and efficient payment system.
• Issue licenses or permits in addition to regulating and supervising the banking sector as specified by the Banking Law.
• Carry out any ancillary tasks or transactions within the framework of Iraqi law.

Governor

Dr. Sinan Al-Shabibi

Awards

• The New Breed/Listed among the Time-CNN 25 Business Influentials, December 2004.

Career

• Governor of the Central Bank of Iraq since 2003.
• Consultant on Trade, Debt and Finance to UNCTAD.
• 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 forums.
• Extensive travel experience in connection with work on debt management, OPEC Financial Flows and the work on the Iraqi economy.

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

Experience

• 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

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

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
• Development implications of trade and financial Globalization

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