The President of the European Central Bank, Mario Draghi, is to appear before the finance committee of the Italian Parliament.
The meeting, next Wednesday afternoon, is to discuss the monetary policy of the ECB, structural reform and growth in the euro zone.
The ECB has refused to allow its former president Jean Claude Trichet appear at the Oireachtas Banking Inquiry, stating that it is accountable to the European Parliament, not national parliaments.
Mr Draghi is also due to appear before the European Parliament's economic and monetary affaris committee on Monday.
He has previously appeared before a committee of the German Parliament in 2012 to explain an ECB plan to buy government bonds.
Banking inquiry member John Paul Phelan called on the ECB to clarify its position on Ireland.
"We know Mr Draghi already attended a German parliamentary finance committee in October 2012. It now appears he is attending a similar committee in Italy.
“In Ireland and for our banking inquiry, only the Vice-President of the ECB (Portugal's Vitor Constâncio) ppears willing to attend.
"The ECB needs to clarify its position. On the one hand it says it is not accountable to member state parliaments and so the ECB won't attend our inquiry.
"I have written to the chair of the banking inquiry asking that we seek clarification on why the ECB seem to be cherry-picking which national parliaments they are willing to attend," the Fine Gael TD added.
However, an ECB spokesman said it was primarily held to account by the European Parliament as the representation of all the EU’s citizens. Therefore, it did not participate in national parliamentary inquiries and would not take part in the proceedings of the Irish banking inquiry.
"Nevertheless, in line with past practice of interaction between the ECB and national parliaments, the ECB is ready to take part in an informal exchange of views on matters within the remit of the ECB’s mandate with the relevant committee(s) of the Irish parliament.
"The ECB has informed the Irish parliament that Vitor Constâncio stands ready to represent the ECB in such an exchange of views.
"Mr Constâncio is well placed to do so by being the longest-serving member of the executive board who also attended the relevant Eurogroup/ECOFIN meetings in the midst of the Irish crisis," the spokesman added.
