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.