Iranian Central Bank head Mahmoud Bahmani has resigned, ILNA news agency reported.
Bahmani said he has resigned as Monetary and Credit Council has not been organized in Iran, huge sum of money has been misappropriated from the reserve fund and as be had divergence of opinion with some members of the Cabinet of Ministers.
Bahmani is the third Central Bank Head to resign during President Ahmadinejad's presidency. Bahmani replaced former Central Bank Head Tahmasib Mazahiri eight months ago. Mazahiri was appointed Central Bank Head in Sept. 2007. Mazahiri succeeded Ibrahim Sheybani.
Iran's Fars news agency reported on Sept. 21 that Iranian Central Bank Head Mazahiri refused to allocate funds for the Labor Ministry's plan "Labor Centers which Yield Fruits Soon". Though this report was rejected later, Iranian media reported on numerous occasions that the Central Bank had a conflict with the government because of refusal to allocate fund's for plan "Labor Centers which Yield Fruits Soon".
The funds allocated for the market doubled and reached $150 billion during Ahmadinejad's four year presidency. Putting oil revenues into circulation led to 25-percent inflation in Iran.