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- Withdrawn at the bank's request$1.27 billion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.
64 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 |
|---|---|---|---|---|---|
| 8 June 2013 | Babylon Bank | $16.6 million | $16.6 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 13 January 2013 | Babylon Bank | $13 million | $13 million | Other reasons | كون الاقرار يحمل تاريخ قديم |
| 7 February 2013 | Babylon Bank | $13 million | $13 million | Missing or faulty documents | عدم وجود توقيع المخول الثاني على الطلب |
| 11 December 2013 | Babylon Bank | $12.8 million | $12.8 million | Other reasons | هرطنب المصرف باتيه تترا2796 :4 فى 2013/12/10 سلونه تى |
| 12 December 2013 | Babylon Bank | $12.5 million | $12.5 million | No reason given, or unreadable | |
| 28 July 2013 | Babylon Bank | $11.5 million | $11.5 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 1/1656 في 25/7/2013 |
| undated | Babylon Bank | $11.2 million | $11.2 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 1700 في 31/7/2013 |
| 2 July 2013 | Babylon Bank | $11.1 million | $11.1 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| undated | Babylon Bank | $11.1 million | $22.5 million | Other reasons | لاستخدام جميع الفواتير بتاريخ 8/7/2013 |
| 7 July 2013 | Babylon Bank | $11.1 million | $11.1 million | Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم مطابقة تاريخ الاستمارة مع تاريخ كتاب الشراء والاقرار والتعهد |
| 2 June 2013 | Babylon Bank | $10.8 million | $10.8 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 9 June 2013 | Babylon Bank | $10.6 million | $10.6 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 10 March 2013 | Babylon Bank | $9.7 million | $9.7 million | Problem with the import licence | تاريخ الاجازة المثبت في كشف الحوالات قديم |
| 28 February 2013 | Babylon Bank | $9.7 million | $9.7 million | Held back for audit | لاغراض تدقيقية |
| 4 March 2013 | Babylon Bank | $9.7 million | $9.7 million | Held back for audit | لاغراض تدقيقية |
| 5 March 2013 | Babylon Bank | $9.6 million | $9.6 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 22 May 2013 | Babylon Bank | $9.3 million | $9.3 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 17 March 2013 | Babylon Bank | $9.2 million | $9.2 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 24 February 2013 | Babylon Bank | $9 million | $9 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 25 February 2013 | Babylon Bank | $9 million | $9 million | Held back for audit | لاغراض تدقيقية |
| 16 May 2013 | Babylon Bank | $8.8 million | $17.9 million | Other reasons | لوجود خطأ في المجموع بين كشف الحوالات واستمارة الشراء |
| 17 February 2013 | Babylon Bank | $8.5 million | $8.5 million | Penalty on, or suspension of, the bank | لوجود خطأ في تاريخ كتاب التحويل |
| 5 September 2013 | Babylon Bank | $8.2 million | $8.2 million | Penalty on, or suspension of, the bank | حسب كتاب مديرية الصيرفة والانتمان المرقم 2629 في 2013/8/29 |
| 4 September 2013 | Babylon Bank | $8.1 million | $8.1 million | Penalty on, or suspension of, the bank | حسب كتاب مديرية الصيرفة والانتمان المرقم 2629 في 2013/8/29 |
| undated | Babylon Bank | $8 million | $8 million | Penalty on, or suspension of, the bank | حسب كتاب مديرية الصيرفة والانتمان المرقم 2629/2/9 في 2013/8/29 |
| 2 September 2013 | Babylon Bank | $8 million | $8 million | Other reasons | بناءً على توجيه المديرية العامة للصيرفة والانتمان |
| 27 March 2013 | Babylon Bank | $8 million | $13.8 million | Bank's funds did not cover the request; Held back for audit | 1-لاغراض تدقيقية تتعلق برقم وتاريخ الفاتورة 2-عدم كفاية الرصيد |
| 3 September 2013 | Babylon Bank | $8 million | $8 million | Penalty on, or suspension of, the bank | حسب كتاب مديرية الصيرفة والانتمان المرقم 2629 في 2013/8/29 |
| undated | Babylon Bank | $7.1 million | $7.1 million | Other reasons | حسب طلب دائرة الصيرفة والانتمان |
| 8 December 2013 | Babylon Bank | $7 million | $15.5 million | Other reasons | تسلسل 2 لاغراض ندقياية |
| 16 December 2013 | Babylon Bank | $6 million | $6 million | Missing or faulty documents; Penalty on, or suspension of, the bank | 8,009,000 :عدم ورود كتاب من الصيرفة وسمح وخوله لمزام العمنة |
| 3 April 2013 | Babylon Bank | $5.5 million | $13.6 million | Company's activity does not match the goods; Names or details do not match | اختلاف النشاط الجهة المستفيدة |
| 4 April 2013 | Babylon Bank | $5 million | $9.1 million | Company's activity does not match the goods; Names or details do not match | اختلاف النشاط التجاري للجهة المستفيدة |
| 21 September 2013 | Babylon Bank | $5 million | $5 million | Penalty on, or suspension of, the bank | حسب كتاب المديرية العامة لمراقبة الصيرفة والائتمان المرقم 2629 في 2013/8/29 |
| 5 October 2013 | Babylon Bank | $5 million | $5 million | Penalty on, or suspension of, the bank | حسب كتاب المديرية العامة لمراقبة الصيرفة والانتمان المرقم 3036 في 2013/9/22 |
| 12 January 2013 | Babylon Bank | $5 million | $15 million | Other reasons | حسب توجيهات السيد المحافظ |
| undated | Babylon Bank | $5 million | $5 million | Bank's funds did not cover the request | بداعه قيد RTGS في يوم 3/2 ليو |
| undated | Babylon Bank | $4.5 million | $4.5 million | Other reasons | 4,549,000 ملول المزاء حسب انل افحينة الممة لمرملة المدومفة والتما الصلا محروم مو |
| 2 April 2013 | Babylon Bank | $4.1 million | $9.7 million | Company's activity does not match the goods; Names or details do not match; Held back for audit | لاغراض تتدقيقة تتعلق بالجهة المستفيدة ( اختلاف النشاط |
| 7 August 2013 | Babylon Bank | $4.1 million | $15.6 million | Other reasons | 1-استبعاد مبلغ !4068200) عن الحوالة تسلسل ,2) لنفاذ تاريخ الفاتورة 2-استبعاد مبلغ !800) دولار عن كسور الحوالات تسلسل !1,3) |
| 6 August 2013 | Babylon Bank | $4 million | $11.7 million | Held back for audit | لاغراض تدقيقية تسلسل !,!3) |
| 1 April 2013 | Babylon Bank | $4 million | $9.9 million | Company's activity does not match the goods; Names or details do not match | اختلاف نشاط الزبون التجاري |
| 7 April 2013 | Babylon Bank | $4 million | $9.7 million | Company's activity does not match the goods; Names or details do not match | اختلاف النشاط التجاري للزبون |
| 5 August 2013 | Babylon Bank | $4 million | $11.6 million | Held back for audit | لاكنسوض تدقيقية تسلسل ,2) في كشف الحوالات /استبعاد مبلغ ,1200) دولار لنفادي |
| 9 January 2013 | Babylon Bank | $4 million | $18 million | Missing or faulty documents | لعدم توقيع الكشف التحليلي او ختمة |
| 18 March 2013 | Babylon Bank | $4 million | $12.8 million | Other reasons | عدم شمولها في التقديم لهذا اليوم |
| 28 August 2013 | Babylon Bank | $4 million | $13.1 million | Bank's funds did not cover the request | 1-عدم دكر اسم الام في فوانم البيع 2-عدم كفاية الرصيد |
| 17 July 2013 | Babylon Bank | $3.6 million | $15.7 million | Held back for audit | 1-تم استبعاد مبلغ 3636500 تسلسل ,!2) لاغراض تدقيقية 2-تم استبعاد مبلغ 500 عن كسور الحوالتين تسلسل ,!1,3) |
| 26 October 2013 | Babylon Bank | $3 million | $3 million | Other reasons | الستيرف ولعترتة المفروضة على المصرف حسب العكائمة الهاتفية مع السيد مدير علام |
| 29 April 2013 | Babylon Bank | $2.5 million | $8.7 million | The same customer at more than one bank | الجهة المستوردة 1- تكرار اسم الزبون في مصرف اخر 2- |
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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.