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 they were written.
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- Withdrawn at the bank's request$1.27 billion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 written
Largest first. Company names are given as the committee wrote them. They are not accusations.
83 rows
| Date | Bank | Refused | Of a request for | Reason | The committee's words |
|---|---|---|---|---|---|
| 31 May 2014 | Bank of Baghdad | $12 million | $12 million | Bank's funds did not cover the request; Missing or faulty documents | العدم ارفاق المصرف قيد RTGS |
| 17 May 2014 | Bank of Baghdad | $10 million | $10 million | Held back for audit | 10,000,000 الاغراض تدقيقية |
| 20 January 2013 | Bank of Baghdad | $8.6 million | $8.6 million | Names or details do not match | لاختلاف صيغة الاقرار في الحوالات وعدم ختم وتوقيع كشف النقد |
| 8 July 2013 | Bank of Baghdad | $8 million | $8 million | Missing or faulty documents | لعدم تقديمة فلاش باسماء الزبانن |
| 30 October 2013 | Bank of Baghdad | $8 million | $8 million | Penalty on, or suspension of, the bank | عدم كتابة اسم المصرف على استمارة الشراء |
| 15 December 2013 | Bank of Baghdad | $8 million | $8 million | Names or details do not match | ت واختلاف في العلول وخطأ فى الارقدم |
| undated | Bank of Baghdad | $8 million | $8 million | Bank's funds did not cover the request | يداعه قيد RTGS في يوم 3/2 ليو /2014/03 مخالف بذلك تعليمات 588 ف |
| 24 June 2013 | Bank of Baghdad | $7.6 million | $15.6 million | The same customer at more than one bank | 1-تاريخ الفتورة قديم 2-لتكرار الاسماء في كشف زبائن النقد |
| 13 June 2013 | Bank of Baghdad | $7.6 million | $7.6 million | Missing or faulty documents | لعدم الالتزام بالموعد المحدد للتقديم |
| 25 February 2013 | Bank of Baghdad | $6 million | $9.9 million | Customer in breach of anti-money-laundering rules | زبون مخالف لتعليمات غسيل الاموال |
| 31 January 2013 | Bank of Baghdad | $5.9 million | $5.9 million | Missing or faulty documents | عدم وجود رقم استماره الشراء |
| 12 March 2013 | Bank of Baghdad | $5.6 million | $10.5 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 29 May 2013 | Bank of Baghdad | $5.1 million | $5.1 million | Missing or faulty documents | لعدم الالتزام بجدول التقديم |
| 22 May 2013 | Bank of Baghdad | $5.1 million | $6.3 million | Problem with the import licence; Company's activity does not match the goods; Names or details do not match | لاختلاف نشاط الشركة المستوردة مع ما مثبت مع اجازة التأسيس تسلسل ,1) |
| 21 January 2013 | Bank of Baghdad | $4 million | $8.7 million | Missing or faulty documents | لعدم وجود تواقيع المخولين على الكشوفات النقدية |
| 11 February 2013 | Bank of Baghdad | $4 million | $10.3 million | Held back for audit | يؤجل لاغراض تنظيمية ويعاد تقديم طلب شراء |
| 22 April 2013 | Bank of Baghdad | $4 million | $4 million | Missing or faulty documents | لعدم وجود قوائم |
| 18 February 2013 | Bank of Baghdad | $3.4 million | $5.4 million | Old or invalid invoice | 2- مبلغ المطلوب تحويلة اكبر من مبلغ الفاتورة |
| 3 March 2013 | Bank of Baghdad | $3.3 million | $6.8 million | Held back for audit | لاغراض تدقيقية |
| 17 March 2013 | Bank of Baghdad | $2.8 million | $2.8 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 2 April 2013 | Bank of Baghdad | $2 million | $4 million | Company's activity does not match the goods; Names or details do not match | اختلاف نشاط الزبون التجاري |
| 8 April 2013 | Bank of Baghdad | $2 million | $6 million | Missing or faulty documents | لعدم تقديمة في اليوم المحدد |
| 5 April 2014 | Bank of Baghdad | $1.9 million | $12 million | The same customer at more than one bank; Bank's funds did not cover the request | لتكرار ,7) اسماء مع مصرف اربيل والتنميه ولكون مبلغ الشراء لايغطي قيد الRTGS |
| 20 February 2013 | Bank of Baghdad | $1.6 million | $5.4 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 4 March 2013 | Bank of Baghdad | $1.6 million | $5.6 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 7 March 2013 | Bank of Baghdad | $1.6 million | $1.6 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال حستير 2- وجود ربون مع |
| 29 March 2014 | Bank of Baghdad | $1.6 million | $10 million | The same customer at more than one bank | كرار ,3) اسم م لكون قيد R7GS مغ اء |
| 19 March 2013 | Bank of Baghdad | $1.5 million | $3.4 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 25 November 2013 | Bank of Baghdad | $1.4 million | $9.3 million | Other reasons | من اقتك التور السم دواقفع الاستمارة من إن مكول ناى |
| undated | Bank of Baghdad | $1.4 million | $1.4 million | Other reasons | كمال مطومات المعدلة المتطقة بالاقامة وبموجب تصيمنا المرقم 86: |
| 14 May 2013 | Bank of Baghdad | $0.5 million | $1 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 11 August 2014 | Bank of Baghdad | $0.3 million | $14 million | The same customer at more than one bank | لتكرار !68) اسم مع نفس قوائم المصرف |
| 2 June 2013 | Bank of Baghdad | $0.3 million | $7.7 million | Problem with the import licence | تاريخ الاجازة قديم تسلسل !3) |
| undated | Bank of Baghdad | $0.3 million | $8 million | The same customer at more than one bank | كرار الأسماء مع عدة مصارف |
| 26 October 2014 | Bank of Baghdad | $0.2 million | $14 million | The same customer at more than one bank; The bank's whole request excluded | من حصة المصرف لتكرار اسماء |
| undated | Bank of Baghdad | $0.2 million | $8 million | Other reasons | ترار (31) اسم مع الاستثمار وايلا الهدى والشمال ومع قوائم نفس المصر |
| undated | Bank of Baghdad | $0.1 million | $8 million | Other reasons | م رقموصل بالانحع |
| 15 December 2014 | Bank of Baghdad | $0.1 million | $16 million | The same customer at more than one bank; The bank's whole request excluded | من حصة المصرف لتكرار اسماء |
| undated | Bank of Baghdad | $0.1 million | $10 million | The same customer at more than one bank | لتكرار ,25)اسم مع اشور وايلاف |
| undated | Bank of Baghdad | $0.1 million | $8 million | Other reasons | تعصرال الرئم ضمن فوائم المصرف ومع مصارد لشور والاستشر وشركات ناهدة |
| 11 May 2014 | Bank of Baghdad | $0.1 million | $10 million | The same customer at more than one bank | تكرار ,21)اسم مع اميرائد واشو والاستثمار |
| 5 April 2014 | Bank of Baghdad | $0.1 million | $12 million | The same customer at more than one bank | التكرار ,20) اسم مع بغداد واشور والخليج |
| 5 October 2013 | Bank of Baghdad | $0.1 million | $8 million | The same customer at more than one bank | تكرار الاسماء مع مصرف الاهلي واشور |
| undated | Bank of Baghdad | $0.1 million | $12 million | The same customer at more than one bank | التكرار ,17) اسم مع مصرف التنمية واشور |
| 18 November 2013 | Bank of Baghdad | $0.1 million | $8 million | The same customer at more than one bank | تكرار الاسماء مع عدة مصارف |
| undated | Bank of Baghdad | $0.1 million | $8 million | Other reasons | اامى مضعن فعام الممرف تلد الحرال والعرص، والختوج واريين وهو |
| 16 June 2014 | Bank of Baghdad | $0.1 million | $10 million | The same customer at more than one bank | لتكرار ,16)اسم واسم خطا في تاريخ البيع |
| undated | Bank of Baghdad | $0.1 million | $8 million | Other reasons | تلديع البوع عطاء مي مصرف التور والرشود و(6) اسماء |
| undated | Bank of Baghdad | $0.1 million | $8 million | The same customer at more than one bank | تكرار الاسماء مع مصارف الموصل وجيهان وكوردستان واشور |
| 28 October 2013 | Bank of Baghdad | $0.1 million | $8 million | The same customer at more than one bank | تكرار الاسماء ضمن قوانم المصرف نفسه ومع شركات تابعة لمصرف الرشيد ومع قوائم مصرف الموصل |
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Download:refusals.csv.xlsx
Company names in the Central Bank's notes are shown as the bank wrote them. 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.