Centrality of CBI Independence in Functioning Economies Stressed

Former governors of the Central Bank of Iran called on policymakers to recognize the independence of the central bank, otherwise it will not be able to play its mandate in managing monetary markets and stabilizing the economy.
Speaking on the 31th Islamic Banking Conference, Mohammad Hossein Adeli, a former governor, said policy and decision makers need to understand the importance of upholding the need and importance of an independence central bank.
"In the absence of such understanding, decision makers would simply be neglecting the law or violate it," he was quoted as saying by the CBI website.
Mahmoud Bahmani, a former CBI governor, stressed the importance of having an independent central bank for safeguarding the value of the national currency that has been in freefall for long.