Sinan Al Shabibi
| Sinan Al Shabibi الدكتور سنان الشبيبي |
|
|---|---|
 |
|
| Governor of the Central Bank of Iraq | |
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In office September 2003 – October 2012 |
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| Succeeded by |
Abdel Basset Turki (acting) |
| Personal details | |
| Born |
1 July 1941 Baghdad, Kingdom of Iraq |
| Nationality | Iraq |
| Relations |
Mohammed Ridha Al-Shabibi (father) |
| Alma mater |
University of Baghdad University of Manchester University of Bristol |
| Profession | Economist |
Dr. Sinan Al-Shabibi (Arabic: الدكتور سنان الشبيبي) is an Iraqi economist who served as the governor of the Central Bank of Iraq from September 2003 to October 2012.
Born in Baghdad on 1 July 1941 and son of the prominent Iraqi figure Mohammed Ridha Al-Shabibi, Dr. Al-Shabibi holds a B.Sc. in Economics from Baghdad University (1966), a Diploma in Advanced Studies in Economic Development, an M.A. in Economics from the University of Manchester (1970, 1971), and a Ph.D. in Economics from the University of Bristol (1975).
From April 1977 to December 1980, Sinan Al-Shabibi was the Chief of plan Preparation and Co-ordination Division at the Iraqi Ministry of Planning, and from May 1975 to March 1977 he worked as the Head of Imports and Marketing Section at the Iraqi ministry of oil.
Immediately after the start of the Iran–Iraq War, he moved to Geneva in Switzerland where he spent from December 1980 to October 2001 working as a Senior Economist in the United Nations Conference on Trade and Development (UNCTAD).
On August 1, 2002 Al-Shabibi testified among other witnesses at the Hearing Before the Senate Foreign Relations Committee about possible military action in Iraq. The topics that he addressed were the state of the Iraqi economy and its stabilization post a possible military campaign.
Since taking over as central bank governor, Al-Shabibi introduced the bank's employees to modern finance and payment systems. He made the bank switch from typewriters and calculators to computers, introduced it to financial instruments like currency auctions, and replaced Iraq's pre-2003 banknotes with the New Iraqi Dinar between October 2003 and January 2004. He also involved directly the Central Bank of Iraq in the International Monetary Fund and World Bank co-operation programs, in addition to the Paris Club negotiations where 19 rich creditor nations agreed in 2004 to write off 80 percent of pre-2003 debt to help Iraq recover from the 2003 U.S.-led invasion. Debt forgiveness talks with non-Paris Club nations are still under way.
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