The Ledger
What the Central Bank refused
From January 2013 to February 2015 the Central Bank's committee turned down $24.6 billion of the banks' requests for dollars, 27% of what they asked for in 2013. The committee wrote down the reason for each refusal in its daily minutes. This page shows those reasons as read from the scanned minutes.
Year by year
| Year | Banks asked for | Committee refused | Share |
|---|---|---|---|
| 2012 | $270.2 million | $0.2 million | 0% |
| 2013 | $64.58 billion | $17.70 billion | 27% |
| 2014 | $40.94 billion | $5.97 billion | 15% |
| 2015(January to February) | $2.19 billion | $889.6 million | 41% |
Source: The Central Bank committee's daily minutes; rows that pass the arithmetic checks onlyTier A
The reasons the committee wrote down
A single refusal can carry more than one reason, so the amounts here add up to more than the total refused. 9.9% of the reasons cannot be read in the surviving scans.
- Held back for audit$8.08 billion
- Other reasons$5.33 billion
- Missing or faulty documents$3.46 billion
- No reason given, or unreadable$2.83 billion
- Penalty on, or suspension of, the bank$2.58 billion
- Bank's funds did not cover the request$1.66 billion
- The same customer at more than one bank$1.55 billion
- Withdrawn at the bank's request$1.27 billion
- Customer in breach of anti-money-laundering rules$1.06 billion
- Problem with the import licence$880.4 million
- Names or details do not match$849.5 million
- Company's activity does not match the goods$345 million
- Bank below the capital requirement$335.2 million
- The bank's whole request excluded$328.7 million
- Old or invalid invoice$322.6 million
- Timing or procedure$312.9 million
- Duplicate or reused invoice$200.1 million
- Ministry of Trade letter$59.6 million
- Licence issued in the Kurdistan Region$28.9 million
Every refusal, as read from the scanned minutes
Largest first. Company names are given as read from the scanned minutes. They are not accusations.
154 rows
The reasons were read from scanned pages of the Central Bank's minutes, the reading may contain errors, and the scanned page is the authority.
| Date | Bank | Refused | Of a request for | Reason | As read from the scanned minutes |
|---|---|---|---|---|---|
| 2 June 2014 | Ashur International Bank for Investment | $36.4 million | $36.4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | سبب الاستبعاد عسب طلب المصرف بكتابه المرقم م ا/اد 1440 في 2014/6/3 |
| 26 February 2014 | Ashur International Bank for Investment | $27.9 million | $27.9 million | Other reasons | سبب الاستبع وشراء العملة الاجنبية |
| 9 December 2013 | Ashur International Bank for Investment | $25.1 million | $25.1 million | Other reasons | سهب الامنتهعا عم كالنية الرميد البادي في حب المصرف |
| 9 February 2015 | Ashur International Bank for Investment | $18.7 million | $23.2 million | Held back for audit | استبعاد جزء من المحوالة لاغراض تدائيقية |
| 29 May 2014 | Ashur International Bank for Investment | $18.4 million | $31.6 million | Other reasons | سهب الاستيعاد 18,430,000 يسته ت !1ر3) تؤول فى ثوقت الخاضر لوجوه مشاريات متقاو |
| undated | Ashur International Bank for Investment | $18.4 million | $18.4 million | Held back for audit; Timing or procedure | سبب الاستبعاد إيستبعد ,!يوجل في الوقت الحاضر) لاغراض تدقيقية |
| 3 March 2014 | Ashur International Bank for Investment | $17.4 million | $24.7 million | Other reasons | سبب الاستبعة ,ت1)منفلا اجتزة الاستيراد و,ت2) المخراض تقهقية |
| 28 January 2014 | Ashur International Bank for Investment | $17.4 million | $17.4 million | Held back for audit | سهب الاستنعار لا غراض تدايقية |
| 3 February 2014 | Ashur International Bank for Investment | $17.2 million | $29.9 million | Other reasons | سبب الاستبعة |
| 10 December 2013 | Ashur International Bank for Investment | $17.1 million | $17.1 million | No reason given, or unreadable | |
| undated | Ashur International Bank for Investment | $17 million | $17 million | Held back for audit | سهب الاستبعة الميلغ الستبعد (ت1) لالتهاء كاريخ لفاذ الفاتورة و,ت2) ايراض تدقيقية |
| 18 May 2014 | Ashur International Bank for Investment | $15.8 million | $15.8 million | Held back for audit | 15,818,000 لاغراض تدقيقية |
| 12 June 2014 | Ashur International Bank for Investment | $15.8 million | $15.8 million | Penalty on, or suspension of, the bank | سبب الاستبعاد استنادا الى مذكرة الاستثمارات المرقمة 1868/5/2 في 2014/5/19 |
| 15 December 2013 | Ashur International Bank for Investment | $15 million | $31 million | Other reasons | من شعر الكتار الاسجال |
| 3 March 2014 | Ashur International Bank for Investment | $15 million | $15 million | Other reasons | سبب الاستبعر يستبعد بالكامل لوجود خطا في تاريخ الفاتورة |
| undated | Ashur International Bank for Investment | $14.8 million | $14.8 million | Penalty on, or suspension of, the bank | يب الاسنيها 4ر01301 2 لموراات مع موموع النف الحرفل رمع اكتاب اعرام 2196 فى |
| 16 November 2013 | Ashur International Bank for Investment | $14.6 million | $16.5 million | Other reasons | مسبب الاستبسعا |
| 28 January 2013 | Ashur International Bank for Investment | $14.5 million | $14.5 million | Other reasons | سبب الاستبعاد بلغ النقد المطلوب لا يطابق مع عدد الزبانن في القوانم ومبل لحوالات لا تتطابق مع الفواته |
| undated | Ashur International Bank for Investment | $14.4 million | $14.4 million | Other reasons | مميب الاستبعد سع مداي بنك متظمات 12 حلرة ا لي 320 |
| 8 January 2015 | Ashur International Bank for Investment | $14.1 million | $14.1 million | Held back for audit | 14,109,000 الاغراض تدقيقية |
| 20 June 2013 | Ashur International Bank for Investment | $13.8 million | $13.8 million | Company's activity does not match the goods | سبب الاستبعا لتنوع نشاط الزبون |
| 11 February 2015 | Ashur International Bank for Investment | $13.5 million | $18.1 million | Other reasons | ت1 لاهراض تدقرة |
| undated | Ashur International Bank for Investment | $13.5 million | $18.1 million | Other reasons | ت1 لاهراض تدقرة |
| undated | Ashur International Bank for Investment | $13.2 million | $13.2 million | Held back for audit | الاغراض تدقيقية |
| 24 November 2013 | Ashur International Bank for Investment | $13.1 million | $15.9 million | Other reasons | سهب الاستيحلد |
| 21 August 2014 | Ashur International Bank for Investment | $12.9 million | $12.9 million | Held back for audit | الاغراض تدقيقية |
| undated | Ashur International Bank for Investment | $12.5 million | $17.4 million | Other reasons | سسبب الاستعى تتبعدت السرككة يسهب تقديم المعاملة في يوم الاحد 2013/91/24 والعقروض أن تاد |
| undated | Ashur International Bank for Investment | $12.3 million | $16.6 million | The same customer at more than one bank; Held back for audit | حوالة لاغراض تدقيق شركات التكرار بطالات مفر ومن مح لمصرف لتكرار اسماء |
| 25 January 2015 | Ashur International Bank for Investment | $11.5 million | $22.2 million | Held back for audit | استبعاد ,ت2) لاغراض تدقيقية |
| 20 November 2014 | Ashur International Bank for Investment | $11.4 million | $18.3 million | Other reasons | الصورة لكون الزبون منيف علي عبد محروم من قبل |
| 23 October 2013 | Ashur International Bank for Investment | $11.2 million | $11.2 million | Bank below the capital requirement; Penalty on, or suspension of, the bank | سبب الاستبعاد عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقمة 3333/3/9 في 2013/10/22 |
| undated | Ashur International Bank for Investment | $11.2 million | $11.2 million | Missing or faulty documents | بب الاس عدم تقديم معلومات السويفت |
| 17 May 2014 | Ashur International Bank for Investment | $10.8 million | $10.8 million | Held back for audit | سبب الاستبعاد 10,754,000 الاغراض تدقيقية• |
| 11 June 2014 | Ashur International Bank for Investment | $10.8 million | $10.8 million | Penalty on, or suspension of, the bank | سبب الاستبعاد اشارة الى مذكرة الاستثمارات المرقمة 1868/2/5 في 2014/5/19 |
| undated | Ashur International Bank for Investment | $10 million | $30.9 million | The same customer at more than one bank; The bank's whole request excluded | ل حصة المصرف لتكرار ,11) اسم واستب سة الشركات بالكامل لمخالفة تعليمات 18 في 2014/02/16 |
| 27 February 2014 | Ashur International Bank for Investment | $9.6 million | $9.6 million | Other reasons | سب الاستعا دم التزامه بالفقرة 15 الاجراءات والضوابط م ليمات بيع وشراء العملة الاجنبية لعام 014. |
| undated | Ashur International Bank for Investment | $9.6 million | $24.1 million | No reason given, or unreadable | |
| 17 June 2014 | Ashur International Bank for Investment | $9.4 million | $54.1 million | The same customer at more than one bank; The bank's whole request excluded | الوجود استبعادات جزئية وكنية لعدة شركات ومن حصة المصرف لتكرار !,17)اسم |
| undated | Ashur International Bank for Investment | $8.9 million | $13.7 million | Held back for audit | الاغراض تدقيقية |
| undated | Ashur International Bank for Investment | $8.9 million | $13.3 million | Held back for audit | استبعاد جزء من الحوالة لاغراض تدقيقية |
| 14 September 2013 | Ashur International Bank for Investment | $8.7 million | $8.7 million | Other reasons | سبب الاستبعاد عدم توقيع استمارة الشراء من قبل المدير المفوض |
| 23 November 2014 | Ashur International Bank for Investment | $8.5 million | $8.5 million | Other reasons | 8,508,000 س ي1 41/19لب المصرف بكتله المرقم 3020 |
| undated | Ashur International Bank for Investment | $8.5 million | $8.5 million | Held back for audit | مبب الاستبعا اغراض تدقيقية |
| undated | Ashur International Bank for Investment | $8.4 million | $15.7 million | Held back for audit; Timing or procedure | 8,380,000 ,!ت1! يؤجل في الوقت الحاضر لاغراض تدفيقية |
| 25 November 2013 | Ashur International Bank for Investment | $8.3 million | $27.3 million | No reason given, or unreadable | |
| 22 January 2014 | Ashur International Bank for Investment | $8.1 million | $15.4 million | Held back for audit; Timing or procedure | (,ت1) ,تزجل في الوقت الحاضر ) لاغراض تدقيقية |
| 22 October 2013 | Ashur International Bank for Investment | $8 million | $8 million | Bank below the capital requirement; Penalty on, or suspension of, the bank | سبب الاستبعاد عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقمة 3333/3/9 في 2013/10/22 |
| 25 December 2014 | Ashur International Bank for Investment | $7.6 million | $20.2 million | The bank's whole request excluded; Held back for audit | التصفولشركات2) لا غراض تفيقة من حص واستبعاد كلي لشركة المظفر لاغراض تدقيقية |
| undated | Ashur International Bank for Investment | $7.2 million | $16.3 million | The same customer at more than one bank; Missing or faulty documents; Held back for audit; Penalty on, or suspension of, the bank | سبب الاستبعا ستبعدت الحوالة لاغراض تدقيقية استبعد من النقد 8 شركات لعدم ادراج المبلغ كتابة والباقي لتكرار اسماء الزبادن مع فروع بغداد والموصل |
| undated | Ashur International Bank for Investment | $6.9 million | $27.6 million | Other reasons | سبب الاستبعاد 8,939,000 ساة المن السوك الماضر الالخراض عاينيا |
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Download:refusals.csv.xlsx
Company names in the Central Bank's notes are shown as read from the scanned minutes. They are not accusations. If a bank appears on this page, it means only that the committee refused part of its request on that day.