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Iran court fires Central Bank Head for withdrawals, IRNA says

Bloomberg

By Ladane Nasseri

An Iranian court has “dismissed” Central Bank governor Mahmoud Bahmani, citing illegal withdrawals from the banking system, the Islamic Republic News Agency reported.

The ruling isn’t final and Bahmani has 20 days to appeal, Rahmatollah Sharifi, the head of public relations for the Supreme Court of Audit said yesterday, according to a report published by the official news agency.

Bahmani is accused of “illegal overnight withdrawal of money from bank accounts to make up for the difference between official and open market exchange rates” of rials into U.S. dollars in March 2012, IRNA said.

The Central Bank’s public relations office has denied that such a ruling has been issued, according to a report published today in the Tehran-based Donya-e-Eqtesad newspaper.