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Iranian President will appoint Central Bank’s chairman henceforth (UPDATED)

Iran Materials 18 January 2011 18:19
Henceforth, Iranian President will appoint and dismiss the country's Central Bank's chairman, Fars news agency quotes Iran's Advisory Council Secretary Mohsun Rzai, as saying.
Iranian President will appoint Central Bank’s chairman henceforth (UPDATED)

Editor's note.: updated after first paragraph (first version was posted at 16:00)

Henceforth, Iranian President will appoint and dismiss the country's Central Bank's chairman, Fars news agency quotes Iran's Advisory Council Secretary Mohsun Rzai, as saying.

According to Iranian media outlets, last month the Iranian Parliament and the Supervisory Board disputed over who will be appointed the head of the Central Bank. The Supervisory Board of Iran stated that the paragraph 80 of Parliament-approved bill on the fifth national development plan of the country contradicts to the Constitution. Parliament also claims that the bill is correct, and to address the problem, sent it for consideration by the Supervisory Board of the country. The paragraph 80 of the bill deals with the formation of the composition of the main assembly of the Central Bank, and who will appoint its head. Upon the law, a candidate to head of the Central Bank is nominated by the President. After parliamentary approval, he/she begins duties.

Ahmadinejad's frequent replacing the heads of the Central Bank has been criticized in the country. After his election as president in 2005, Ahmadinejad has appointed three heads to the Central Bank.

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