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- Withdrawn at the bank's request$1.27 billion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.
70 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 |
|---|---|---|---|---|---|
| 9 June 2013 | BBAC SAL (Erbil branch) | $8.2 million | $8.2 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 24 August 2013 | BBAC SAL (Erbil branch) | $7.4 million | $7.4 million | Problem with the import licence; Licence issued in the Kurdistan Region | لان اجازة الاستيراد المرقمة 271 والصادرة من اقليم كوردستان بدون مبلغ |
| 17 September 2013 | BBAC SAL (Erbil branch) | $7.2 million | $7.2 million | Missing or faulty documents | لعدم ادراج اسم المصرف في استمارة الشراء |
| 18 September 2013 | BBAC SAL (Erbil branch) | $7.1 million | $7.1 million | Held back for audit; Withdrawn at the bank's request | 1-شركة ويلا , حسب طلب المصرف ) 2-الباقي اغراض تدقيقية |
| 21 September 2013 | BBAC SAL (Erbil branch) | $6 million | $6 million | Held back for audit | غراض تدقيقية |
| 8 October 2013 | BBAC SAL (Erbil branch) | $5.5 million | $5.8 million | Other reasons | سل ,2) لوجود خطا في اسم الزبون في |
| undated | BBAC SAL (Erbil branch) | $5 million | $5 million | Held back for audit | الاغراض تدقيقية |
| 16 June 2013 | BBAC SAL (Erbil branch) | $4.9 million | $4.9 million | Missing or faulty documents | لعدم وجود ختم مراقب الامتثال على المعامل |
| 18 February 2013 | BBAC SAL (Erbil branch) | $4.4 million | $4.7 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 12 September 2013 | BBAC SAL (Erbil branch) | $4.4 million | $4.4 million | Held back for audit | اغراض تدقيقية |
| 23 June 2013 | BBAC SAL (Erbil branch) | $4.3 million | $4.3 million | Other reasons | لوجود خطأ في مجموع كشف الحوالات |
| 23 July 2013 | BBAC SAL (Erbil branch) | $4.2 million | $4.2 million | Names or details do not match | الحوالات تسلسل ,2) 2-استبعاد مبلغ!1667) لاختلاف اختصاص الجهة المستفيدة عن المادة المستوردة تسلسل !1) فى كشف الحوالات |
| 14 February 2013 | BBAC SAL (Erbil branch) | $4.1 million | $5 million | Customer in breach of anti-money-laundering rules | عدم تنفيذ تعليمات غسيل الاموال |
| 25 March 2013 | BBAC SAL (Erbil branch) | $4 million | $4 million | The same customer at more than one bank; Held back for audit | الزبون مكرر اكثر من مصرف 1- لاغراض تدقيقية تتعلق بالزبون |
| 7 October 2013 | BBAC SAL (Erbil branch) | $4 million | $4 million | Problem with the import licence; Held back for audit | تسلسل 1 لاغراض تدقية ، الحوالة لادراج ارقام اجازات لاتتعلق بالزبون المذكور -تسلسل 2 في كث 3-تسلسل 3 لوجود خطأ في رقم الاجازة |
| undated | BBAC SAL (Erbil branch) | $3.8 million | $3.8 million | Penalty on, or suspension of, the bank | بناء على محضر لجنة فرض العقوبات المرقم 11 لسنة 2013 |
| 14 April 2013 | BBAC SAL (Erbil branch) | $3.7 million | $3.7 million | Penalty on, or suspension of, the bank | جود خطا في كتاب التحويلبين الرق مثبت مبلغا وكتابة |
| 25 September 2013 | BBAC SAL (Erbil branch) | $3.5 million | $3.5 million | Held back for audit | غراض تدقيقية |
| 21 August 2013 | BBAC SAL (Erbil branch) | $3 million | $8.8 million | Other reasons | المرفق |
| 29 July 2013 | BBAC SAL (Erbil branch) | $3 million | $6.1 million | Problem with the import licence; Names or details do not match; Held back for audit | 1- لاغراض تدقيقية تسلسل ,!1) 2-لاختلاف نوع البضاعة عن ما موجود في اجازة الاستيراد تسلسل ,2) |
| undated | BBAC SAL (Erbil branch) | $2.8 million | $2.8 million | Penalty on, or suspension of, the bank | ستنادا الى محضر لجنة فرض الغرامات المرقم 11 لسنة 2013 القاضي بحرمان المصرف من دخول المزاد لمدة شهر |
| undated | BBAC SAL (Erbil branch) | $2.8 million | $2.8 million | Bank's funds did not cover the request | المنم كفنية الرصيد للمصرف لتلبية طلب |
| undated | BBAC SAL (Erbil branch) | $2.7 million | $2.7 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف لتغطية طلب البنك |
| 25 December 2014 | BBAC SAL (Erbil branch) | $2.6 million | $2.6 million | Held back for audit | لاجراض تدقيقية |
| 3 June 2013 | BBAC SAL (Erbil branch) | $2.6 million | $3.6 million | No reason given, or unreadable | |
| 1 October 2013 | BBAC SAL (Erbil branch) | $2.6 million | $2.6 million | Other reasons | 2-تسلسل 2 لاغراض |
| 20 April 2014 | BBAC SAL (Erbil branch) | $2.5 million | $2.5 million | Other reasons | لتقديمه طلب الشراء قبل ستة ايا بدلا من 7 إايام مخالفا بذلك تعليمات 588 في |
| undated | BBAC SAL (Erbil branch) | $2.5 million | $2.5 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابه المرقم 2014/139 في 2014/02/06 |
| undated | BBAC SAL (Erbil branch) | $2.4 million | $2.4 million | Penalty on, or suspension of, the bank | استنادا الى محضر لجنة فرض العقوبات المرقم 11 لسنة 2013 |
| 22 May 2013 | BBAC SAL (Erbil branch) | $2 million | $2.4 million | Other reasons | لتجزئة الفاتورة تسلسل ,!1,2,3,5) في كشف الحوالات |
| 22 January 2014 | BBAC SAL (Erbil branch) | $2 million | $2 million | Penalty on, or suspension of, the bank | الى 2014/09/1 5 امتال وحسب كتاب المصيرفة 146 |
| 12 May 2013 | BBAC SAL (Erbil branch) | $1.9 million | $1.9 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيده |
| undated | BBAC SAL (Erbil branch) | $1.8 million | $1.8 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 2013/944 في 2013/10/10 |
| 17 July 2013 | BBAC SAL (Erbil branch) | $1.7 million | $5.3 million | Names or details do not match | الحوالات 2-لاختلاف ارقام الفواتير عن ما موجود في النسخ الاصلية المرفقة تسلسل,4) في كشف الحوالات |
| 27 October 2014 | BBAC SAL (Erbil branch) | $1.7 million | $1.7 million | Held back for audit | لاعراض تدقيقية |
| 5 November 2014 | BBAC SAL (Erbil branch) | $1.7 million | $1.7 million | Held back for audit | 1,703,000 لاغراض تدقيقية |
| undated | BBAC SAL (Erbil branch) | $1.6 million | $2.6 million | Withdrawn at the bank's request | حصب طلب المصرف المرقم 262 في |
| 11 June 2014 | BBAC SAL (Erbil branch) | $1.6 million | $1.6 million | Bank's funds did not cover the request | استبعاد لان ايداع قيد RTGS قبل ستة ايام عمل مخالفا بذلك لتعليمات 588 في |
| 21 February 2013 | BBAC SAL (Erbil branch) | $1.6 million | $1.6 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 22 July 2013 | BBAC SAL (Erbil branch) | $1.5 million | $5.1 million | Names or details do not match | لاختلاف اختصاص الجهة المجهزة تسلسل !,!2) في كشف الحوالات |
| 12 February 2013 | BBAC SAL (Erbil branch) | $1.5 million | $5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل اموال |
| 29 May 2013 | BBAC SAL (Erbil branch) | $1.5 million | $5.9 million | Duplicate or reused invoice | تكرار استخدام الفاتورة لأكثر من طلب تحويل تسلسل ,6) |
| 26 February 2013 | BBAC SAL (Erbil branch) | $1.5 million | $1.5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| undated | BBAC SAL (Erbil branch) | $1.4 million | $1.4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابه المرقم 2013/944 في 2013/10/10 |
| 11 June 2013 | BBAC SAL (Erbil branch) | $1.4 million | $4.9 million | Other reasons | لاحتوانها على فواتير مكررة تسلسل !,!6) |
| 4 February 2013 | BBAC SAL (Erbil branch) | $1.3 million | $5 million | Customer in breach of anti-money-laundering rules | عدم التزام الزبون تعليمات غسيل الاموال |
| 17 February 2013 | BBAC SAL (Erbil branch) | $1.3 million | $5 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| undated | BBAC SAL (Erbil branch) | $1.3 million | $1.3 million | Held back for audit | الاغراض تدقيقية |
| 3 March 2014 | BBAC SAL (Erbil branch) | $1.2 million | $1.2 million | Missing or faulty documents; Penalty on, or suspension of, the bank | وافقة على مراقب الامنثال لعدم ورود كتاب من الصيرفة ) |
| 14 September 2013 | BBAC SAL (Erbil branch) | $1.1 million | $7 million | Held back for audit | غراض تدقيقية |
Page 1 of 2
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.