Iraq's central bank gets new director general as parliament-backed appointment takes effect

BAGHDAD, Iraq — Nizar Hussein formally assumed the role of director general of Iraq's Central Bank following a handover ceremony in Baghdad held under the supervision of Prime Minister Ali al-Ziyadi. Hussein, who previously served as deputy director general at the same institution, takes over after his appointment was approved by Iraq's parliament last week. In his new role, Hussein will oversee monetary policy, exchange rate stability and banking supervision, according to the official announcement. He said he would review files handed over from the previous administration and that the new leadership would work to preserve market stability. The decree is part of the government's reform agenda in the financial and banking sectors, the statement said. Central bank staff attended the ceremony. Bank employees and market participants are expected to closely follow the central bank's next steps under its new leadership, though no further details were immediately available on upcoming policy measures.