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- Withdrawn at the bank's request$1.27 billion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.
92 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 |
|---|---|---|---|---|---|
| undated | BankMed SAL (Iraq) | $12.1 million | $15 million | Old or invalid invoice; Problem with the import licence | لتجاوز مبلغ الاجازتين تسلسل ,!2,3,4) في كشف الحوالات |
| undated | BankMed SAL (Iraq) | $7.8 million | $7.8 million | No reason given, or unreadable | |
| 1 September 2013 | BankMed SAL (Iraq) | $7.2 million | $9.1 million | Problem with the import licence | لتجاوز المبلغ المطلوب مبلغ الاجازة المقدمة |
| 22 September 2013 | BankMed SAL (Iraq) | $6.1 million | $6.1 million | Missing or faulty documents | عدم تقديم معاملات السويفت خلال المدة المقررة |
| 8 July 2013 | BankMed SAL (Iraq) | $6.1 million | $7 million | Other reasons | المرقم 792 في 3 7/7/2013-تم استبعاد مبلغ !975) وذلك عن كسور مبالغ الحوالتين تسلسل ,1,2) في كشف الحوالات |
| 29 October 2013 | BankMed SAL (Iraq) | $6 million | $6 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم 1349 في 2013/9/29 ووجود كسور في مبلغ الحوالة |
| 28 December 2014 | BankMed SAL (Iraq) | $5.8 million | $5.8 million | Held back for audit | 5,799,000 الاغراض تدقيقية |
| undated | BankMed SAL (Iraq) | $5.6 million | $5.6 million | No reason given, or unreadable | |
| 7 September 2013 | BankMed SAL (Iraq) | $5.1 million | $5.1 million | Old or invalid invoice; Problem with the import licence | لتجاوز مبلغ الاجازتين المقدمة الحد المسموح به في الاجازة |
| 19 February 2013 | BankMed SAL (Iraq) | $5 million | $5 million | Other reasons | تكرار نفس الغرض من الحوالة |
| 21 February 2013 | BankMed SAL (Iraq) | $5 million | $5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 24 February 2013 | BankMed SAL (Iraq) | $5 million | $5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| undated | BankMed SAL (Iraq) | $4.9 million | $4.9 million | Penalty on, or suspension of, the bank | عدم مطابقة مبلغ الحوالة رقما مع ماهو كتابة |
| undated | BankMed SAL (Iraq) | $4.7 million | $4.7 million | Other reasons | توقيع مراقب الامتثال غير مخول من قبل الصيرفة |
| 17 August 2013 | BankMed SAL (Iraq) | $4.5 million | $7.6 million | Held back for audit | لاغراض تدقيقية تسلسل !1) في كشف الحوالات |
| 8 September 2013 | BankMed SAL (Iraq) | $4.5 million | $8 million | Other reasons | بموجب طلب لم 1021 في 2013/9/2 |
| 17 September 2013 | BankMed SAL (Iraq) | $4.5 million | $4.5 million | Old or invalid invoice; Problem with the import licence | تجاوز مبلغ الاجازة المقدمة |
| 25 February 2013 | BankMed SAL (Iraq) | $4.2 million | $5.2 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 27 February 2014 | BankMed SAL (Iraq) | $4.1 million | $4.1 million | Other reasons | إن مراقب الإمتثال الوارد ليس نغمر خول المقدم من قبل الصيرفة وائنت |
| 16 September 2013 | BankMed SAL (Iraq) | $4 million | $4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 1089 في 2013/9/15 |
| 22 July 2013 | BankMed SAL (Iraq) | $4 million | $4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 822 في 17/7/2013 |
| 25 February 2014 | BankMed SAL (Iraq) | $4 million | $4 million | Missing or faulty documents | لعدم توقيع مراقب الامتثال حسب موافقة 4,000,000 مديرية الصيرفة والانتمان |
| 10 March 2014 | BankMed SAL (Iraq) | $4 million | $4 million | Other reasons | إو الانتمان |
| 20 February 2013 | BankMed SAL (Iraq) | $3.7 million | $5 million | Company's activity does not match the goods; Names or details do not match | اختلاف نشاط الشركة عن المادة المستوردة |
| undated | BankMed SAL (Iraq) | $3.7 million | $5.7 million | No reason given, or unreadable | |
| undated | BankMed SAL (Iraq) | $3.7 million | $5.7 million | Held back for audit | استبعاد ,(ت اوجزء من ت2) لاغراض تدليقية |
| 12 September 2013 | BankMed SAL (Iraq) | $3.5 million | $5.4 million | Old or invalid invoice; Problem with the import licence | تجاوز مبلغ الاجازة |
| 25 November 2013 | BankMed SAL (Iraq) | $3.4 million | $3.4 million | No reason given, or unreadable | |
| 17 March 2013 | BankMed SAL (Iraq) | $3.4 million | $3.4 million | Other reasons | تاخر في تقديم الطلب |
| 24 March 2013 | BankMed SAL (Iraq) | $3.4 million | $3.4 million | Problem with the import licence | 60 يوم من تاريخ صدورها في2012/08/29 كما وردة في نص الاجازة |
| undated | BankMed SAL (Iraq) | $3.2 million | $5.2 million | Other reasons | ش 2 لاهتلاف اسم الإيون بمن التشف والاج سل 3 لا فراض تدق. |
| undated | BankMed SAL (Iraq) | $3.1 million | $11.7 million | Problem with the import licence | لانتهاء صلاحية اجازة الاستيراد تسلسل !3) في كشف الحوالة |
| 3 October 2013 | BankMed SAL (Iraq) | $3.1 million | $3.1 million | Other reasons | عدم توقيع الكتب الرسمية وكشف الحوالة من قبل مراقب الامتثال |
| 11 February 2015 | BankMed SAL (Iraq) | $3.1 million | $5.8 million | Other reasons | الاخراض تدئيقية |
| undated | BankMed SAL (Iraq) | $3.1 million | $5.8 million | Other reasons | الاخراض تدئيقية |
| 18 February 2013 | BankMed SAL (Iraq) | $3 million | $5 million | Company's activity does not match the goods; Names or details do not match | لاختلاف نشاط الشركة مع البضاعة المستوردة |
| 20 August 2013 | BankMed SAL (Iraq) | $3 million | $6 million | Problem with the import licence | لاهماله في ادراج تاريخ الاجازة حيث وردت بتاريخيم مختلفين 2013 و 2014 |
| 10 September 2013 | BankMed SAL (Iraq) | $3 million | $6.3 million | Problem with the import licence | تجاوز المبلغ المسموح به في اجازة الاستيراد |
| 25 September 2013 | BankMed SAL (Iraq) | $3 million | $3 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 1140 في 2013/9/22 |
| 4 September 2013 | BankMed SAL (Iraq) | $3 million | $3 million | Held back for audit | لاغراض تدقيقية |
| 10 January 2013 | BankMed SAL (Iraq) | $3 million | $5 million | Missing or faulty documents | لعدم تاريخ للفاتورة في كشف المصرف |
| 19 September 2013 | BankMed SAL (Iraq) | $2.9 million | $2.9 million | Held back for audit | شركة عين الينبوع لاغراض تدقيقية |
| undated | BankMed SAL (Iraq) | $2.9 million | $11 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب المرقم 812 بغداد/2013 في 15/7/2013 |
| 23 September 2013 | BankMed SAL (Iraq) | $2.8 million | $5.3 million | Held back for audit | اغراض تدقيقية |
| 28 October 2014 | BankMed SAL (Iraq) | $2.6 million | $2.6 million | Held back for audit | لاغراض تدقيقية |
| 9 September 2013 | BankMed SAL (Iraq) | $2.5 million | $5 million | Missing or faulty documents | لعدم ادراج اسماء الامهات في كشف الزبائن المقدم |
| undated | BankMed SAL (Iraq) | $2.5 million | $6.7 million | No reason given, or unreadable | |
| 8 December 2014 | BankMed SAL (Iraq) | $2.5 million | $6.5 million | The same customer at more than one bank; The bank's whole request excluded; Held back for audit | استبعاد الحوالة لاغراض تدقوقية من النقد من حصة المصرف لتكرار اسماء ولاغراض تدقيقية |
| 5 December 2013 | BankMed SAL (Iraq) | $2.5 million | $2.5 million | No reason given, or unreadable | |
| 23 October 2014 | BankMed SAL (Iraq) | $2.4 million | $2.4 million | Held back for audit | لاجراض تدايقية |
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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.