Sinan Al Shabibi

Sinan Al-Shabibi (Arabic: سنان الشبيبي; 1 July 1941 – 8 January 2022) was an Iraqi economist who served as the governor of the Central Bank of Iraq from September 2003 to October 2012.

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).

[2][3] On 1 August 2002, Al-Shabibi testified among other witnesses at the Hearing Before the Senate Foreign Relations Committee about possible military action in Iraq.

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.

[6] Despite a highly uncertain domestic and external environment, Al-Shabibi has held the Iraqi currency, the Iraqi Dinar firm at about US$1 = IQD 1'190 (US$1 equalled IQD 2'214 in December 2002), reduced inflation to single digits (from 64% in 2006 to 5.2% in September 2012), quadrupled the bank's gold reserves to 32 tonnes, and remained a strong advocate of central bank independence.