Prof. Haider Wahab Al-Anzi *: Legal Spotlights on the Central Bank's Independence from the Executive Authority - A Comparative Analytical Study

by **claud39** Mon Jan 20, 2020 5:59 pm

01/19/2020

Prof. Haider Wahab Al-Anzi *: Legal Spotlights on the Central Bank's Independence from the Executive Authority - A Comparative Analytical Study Book-cober-Haidar-Wahab-2

The issue of the independence of the central bank from the executive authority conflicts in two opposing directions. The first sees that the independence of the central bank is merely a myth, an illusion or an idea that is not applicable for several reasons, foremost of which is that the monetary authority has not yet reached the amount of the independent public authority, just as it is like other public legislative and executive authorities. Judicial and the monetary policy that the central bank is concerned with formulating and implementing is part of the general policy in the state and therefore the central bank must refer to the executive and legislative authorities and be associated with them and is in the process of drawing monetary policy and implementing it either. I saw that the independence and the necessary condition necessary for the success of the work of the Central Bank and other than that the bank is subject to the domination of the government and this is what causes financial risks standing in the forefront of falling into the inflationary crises.

. But if independence is necessary, all its components must be available, namely financial independence, administrative independence and technical independence. If the constitution of the Republic of Iraq in force for the year 2005 stipulated that the central bank is an independent public body that is responsible for questioning it and interrogating its employees, the constitutional treatment of the issue of independence was not a treatment. Integrated, where several deficiencies were marred, and the researcher took the spotlight on the constitutional and legislative deficiencies with proposing the necessary and appropriate solutions to enhance the independence of the Central Bank from the executive authority to ensure that the aforementioned bank performs its duties to the fullest.

To download the study as a PDF, click on the following link

Legal highlights of the independence of the Central Bank from the executive

(*) Professor of Public Finance and Financial Law, Faculty of Law, Al-Mustansiriya University

http://iraqieconomists.net/ar/2020/01/19/%d8%a3-%d8%af-%d8%ad%d9%8a%d8%af%d8%b1-%d9%88%d9%87%d8%a7%d8%a8-%d8%a7%d9%84%d8%b9%d9%86%d8%b2%d9%8a-%d8%a3%d8%b6%d9%88%d8%a7%d8%a1-%d9%82%d8%a7%d9%86%d9%88%d9%86%d9%8a%d8%a9-%d8%b9%d9%84%d9%89/