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Iraq's Central Bank Chief Suspended Over Corruption Probe

Sinan al-Shabibi
The Iraqi government has suspended the head of the Central Bank over an investigation into fraud in connection with alleged manipulation of currency values.

The government said Sinan al-Shabibi had been removed as Central Bank chief and replaced “indefinitely” by Abdelbasset Turki, head of the government’s spending watchdog, the Board of Supreme Audit.

Reports say an investigation by a parliament committee had found irregularities in exchanges of Iraqi dinars for the U.S. dollar.

The report reportedly held the Central Bank chief and several other individuals responsible.

Based on reporting by AFP, Reuters, and dpa