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CBI head says drawing out money from banking system was legal

Iran Materials 22 January 2013 11:44
The Central Bank of Iran Governor Mahmoud Bahmani said that draw out of money from the banking system last year was according to the approval by the administration.
CBI head says drawing out money from banking system was legal

Azerbaijan, Baku, Jan. 22 / Trend F.Mehdi/

The Central Bank of Iran Governor Mahmoud Bahmani said that draw out of money from the banking system last year was according to the approval by the administration, Mehr agency reported.

On Monday, Iran's Supreme Audit Court voted to dismiss Bahmani on charge of illegal draw out of money from the banking system last year, the Mehr News Agency reported.

Some 30 trillion rials (about $2.5 billion) has so far been drawn out on account from the banking system based on an approval by the administration, he noted.

Iranian media outlets have reported that Bahmani officially requested to retire, and sent a letter to the president's office regarding his request.

The request reportedly was denied by Ahmadinejad's office.

After the news hit the papers, the foreign currency prices jumped up in Iran, as Euro's price rose to 46,000 rials, and British pound to 52,000 rials.

In October 2012, the Supreme Audit Court called Bahmani to explain the issue of illegal money draws.

The Central Bank asked the court for a one-month respite, but Bahmani did not provide the court with necessary explanation.

So, the court has reportedly issued the order of dismissal for the central bank governor.

In March 2102, a member of the Iranian parliament (Majlis) said that the administration has drawn out sums of money of the banking system without informing the Majlis, and that the move will be certainly questioned by the Majlis.

Mostafa Reza Hosseini told Mehr news agency that the Majlis will seriously follow up the case.

Meanwhile, Central Bank Governor Mahmoud Bahmani has said that the central bank had called a number of banks to hand over documents showing the method of spending dollars which had been supplied to them.

But, some of the banks refused to deliver the documents. The sums were related to the difference between the official price of dollar and the price in the free market.

He rejected some rumors claiming that the sums have been taken by the central bank to pay cash subsidies.

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