A law that specifies 5 conditions that must be met by the candidate for governor of the Central Bank

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A law that specifies 5 conditions that must be met by the candidate for governor of the Central Bank

On Sunday, legal expert Ahmed Al-Bawi commented on the circulating names and the potential nomination of a new governor for the Central Bank of Iraq. Al-Bawi emphasized the importance of meeting five specific conditions for any candidate seeking to fill this position.

Al-Bawi stated in an interview with “Jarida” that the selection of any individual for a position of responsibility must be based on solid principles, primarily integrity, followed by scientific expertise, administrative experience, and the courage to make bold decisions, especially in light of the challenging economic situation that the Iraqi economy is currently facing.

“The candidate needs to propose innovative and practical solutions to prevent the further appreciation of the US dollar and the devaluation of the Iraqi dinar. They should also ensure that the political leaders provide assurances for the restructuring of the central bank and other financial institutions and eliminate any corrupt practices that are currently impacting the currency auctions.”

He stated that the ideal candidate should have a clear plan for handling the American Federal Reserve. It is also acceptable if the candidate has a distinguished background in international relations, as long as they use their experience to benefit the public. Additionally, Iraqi law prohibits any individual from holding a position if they have ongoing cases or charges against them in the Iraqi courts. However, it has yet to be determined whether these requirements will be enforced.