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Iranian parliament wants say in choosing head of Central Bank

Source: Radio Zamaneh

Iranian parliament approved a bill to make changes in the appointment of the head of Iran's Central Bank.

The head of the Central Bank which was up till now proposed by the president, then approved by the bank's General Assembly and appointed by the order of the president will now have to meet the approval of the parliament before being appointed to the post.

ILNA reports that the parliament has also altered the composition of the Central Bank's General Assembly and has approved the membership of "the president as the head of the Assembly, the deputy of Planning and Strategic Supervision, the Minister of Economy and Treasury and two other ministers chosen by the Cabinet" in the Assembly.

An earlier plan excluding the president and including expert economists was quashed by the Guardian Council on the grounds that people from the private sector cannot be members of this government body according to the constitution.

The parliament has however emphasized that the head of the Central Bank has to be an "experienced expert" in matters of banking and monetary policies.

Minister of Economy has criticized the move saying the General Assembly of the Central Bank must remain in control of the government.

Analysts maintain that the new parliamentary move will block government "interference" in matters that pertain to the Central Bank and will ensure "its independence."

... Payvand News - 01/05/11 ... --

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