Iranian Economic Management
"Government spokesman Gholamhussein Elham said in Tehran on August 26 that President Mahmud Ahmadinejad has accepted the resignation of the head of the Central Bank, Ibrahim Sheibani, Radio Farda reported, citing news agencies (see "RFE/RL Newsline," August 23, 2007). He added that the appointment of Tahmasb Mazaheri, the head of the Exports Development Bank and former finance minister, to replace Sheibani is 'in its last stages, and the president will issue his [appointment] writ after the Central Bank general assembly is convened' on August 28. The change is seen as part of Ahmadinejad's plans to give the executive branch firmer control over the economy, Radio Farda observed. It added that Sheibani was opposed to Ahmadinejad's recent decision to lower and fix bank interest and lending rates for state and private banks, at a level many consider below the effective inflation rate in Iran."