The Central Bank of Iraq, guarded by U.S. troops. June 2003.

The Central Bank of Iraq(بنك العراق المركزي) is Iraq's central bank. The current Governor of the Central Bank of Iraq is Sinan Al-Shibibi. Image File history File linksMetadata Baghdad-bank. ... Image File history File linksMetadata Baghdad-bank. ... Dr. Sinan Al-Shibibi is the governor of the Central Bank of Iraq. ...

The bank is in charge of:

• maintaining inflation stability
• implementing monetary policy (including exchange rate policies)
• managing the state's reserves
• issuing and managing the Iraqi dinar
• regulating private banks.

Monetary policy is the government or central bank process of managing money supply to achieve specific goals—such as constraining inflation, maintaining an exchange rate, achieving full employment or economic growth. ... A new twenty-five thousand dinar note The Iraqi dinar (ISO 4217: IQD, pronounced: di-när) is the legal currency of Iraq. ... Iain Banks is a Scottish-born writer of both mainstream and science fiction novels. ...

The robbery

In March 2003, on several occasions beginning on March 18, the day before the United States began bombing Baghdad, nearly US$1 billion was stolen from the Central Bank of Iraq. This is considered the largest bank heist in history. March 2003 : January - February - March - April - May - June - July - August - September - October - November - December - → // Events March 1, 2003 Iraq disarmament crisis: The Turkish speaker of Parliament voids the vote accepting U.S. troops involved in the planned invasion of Iraq into Turkey on constitutional grounds. ... Combatants Coalition Forces: United States United Kingdom Australia Poland Spain Japan Iraq Commanders Tommy Franks Saddam Hussein Strength 263,000 375,000 The 2003 invasion of Iraq, termed Operation Iraqi Freedom by the US administration, began on March 20. ... Location of Baghdad within Iraq Baghdad (Arabic: ‎ translit: , Kurdish: Bexda, from Persian Baagh-daad or Bag-Da-Du meaning “Garden of God” [1]) is the capital of Iraq and of Baghdad Governorate. ... The United States dollar is the official currency of the United States. ...

Approximately $650 million was later found hidden in walls in Saddam Hussein's palace by US troops. It is believed that this was the bulk of the stolen money. The remaining money is currently unaccounted for. Diyaa Habib al-Khayoun, general manager of the state-owned al-Rafidain Bank, claims that $250 million and 18 billion now worthless Iraqi dinars were also stolen, but by professional robbers unconnected to Saddam. Saddam Hussein Abd al-Majid al-Tikriti, (Arabic: ), (born April 28, 1937 ), was the President of Iraq from 1979 until the United States-led invasion of Iraq reached Baghdad on April 9, 2003. ...

In March 2003, a hand-written note surfaced, signed by Saddam, ordering $920 million to be withdrawn and given to his son Qusay. Bank officials state that Qusay and another unidentified man oversaw the cash, boxes of $100 bills, being loaded into trucks during a five hour operation. Qusay was later killed by US troops in a firefight. March 2003 : January - February - March - April - May - June - July - August - September - October - November - December - → // Events March 1, 2003 Iraq disarmament crisis: The Turkish speaker of Parliament voids the vote accepting U.S. troops involved in the planned invasion of Iraq into Turkey on constitutional grounds. ... Qusay Hussein Qusay Saddam Hussein al-Tikriti (or Qusai) (May 17, 1966 - July 22, 2003) was the second son of Iraqi president Saddam Hussein. ...

See also

• Iraqi dinar

A new twenty-five thousand dinar note The Iraqi dinar (ISO 4217: IQD, pronounced: di-när) is the legal currency of Iraq. ...

External links

• The Central Bank of Iraq
• The Great Bank Robbery
• UK troops foil Iraq bank robbery
• Papers show Saddam snatched $1bn from bank a day before invasion