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- Withdrawn at the bank's request$1.27 billion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.
201 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 |
|---|---|---|---|---|---|
| 19 November 2013 | Al-Bilad Islamic Bank for Investment & Finance | $29.8 million | $29.8 million | No reason given, or unreadable | |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $29.3 million | $29.3 million | Other reasons | يستبعد لوجود خطأ في التاريخ المثيت على استمارة الشراء |
| 28 December 2013 | Al-Bilad Islamic Bank for Investment & Finance | $29.1 million | $29.1 million | Other reasons | حدم الراج السم المدير المفرض في ققمة الشراء |
| 22 January 2014 | Al-Bilad Islamic Bank for Investment & Finance | $29.1 million | $29.1 million | Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم كتابة اسم المدير المفوض على استمارة الشراه |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $28.3 million | $28.3 million | No reason given, or unreadable | |
| 17 November 2013 | Al-Bilad Islamic Bank for Investment & Finance | $28.1 million | $28.1 million | Other reasons | ال لية اليات المية قمرقة م 327d/ في 2013/1017 |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $27.8 million | $27.8 million | Bank's funds did not cover the request; Missing or faulty documents | 1- لعدم كفاية رصيد المصرف الذي يبلغ ,!43638038) مليار دينار عراقي 2-بالنسبة للنقد يستبعد لتقديم الطلب في غير الموعد المحدد |
| 28 January 2014 | Al-Bilad Islamic Bank for Investment & Finance | $24.5 million | $28.8 million | Other reasons | 207 410 /2 2791567113 رجب كتي العر |
| 18 November 2013 | Al-Bilad Islamic Bank for Investment & Finance | $23.7 million | $23.7 million | Other reasons | تقديم الصعاملة بمدة القل من اسبوح قول جلمة: |
| 29 October 2013 | Al-Bilad Islamic Bank for Investment & Finance | $23 million | $23 million | Missing or faulty documents | لعدم تقديم معلومات السويفت |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $21.6 million | $28.2 million | Other reasons | لم الجازة الإستواد مع المنف المراقن ضر |
| 8 January 2014 | Al-Bilad Islamic Bank for Investment & Finance | $21.5 million | $29.7 million | Other reasons | 21,623,000 دزت2، الوهود متدريات مدرية ال(غرات |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $20.7 million | $20.7 million | Bank's funds did not cover the request; Missing or faulty documents | 20,686,000 لعدم كفاية الرصيد لتغطية طلب البنك |
| 23 June 2013 | Al-Bilad Islamic Bank for Investment & Finance | $19.7 million | $19.7 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 10 November 2013 | Al-Bilad Islamic Bank for Investment & Finance | $19.5 million | $26.2 million | No reason given, or unreadable | |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $19.1 million | $28.9 million | Held back for audit | 201444115 كتلب المصرف السرقم 50/548/13 ,ت5) لاغراض تدقيقية |
| 28 October 2013 | Al-Bilad Islamic Bank for Investment & Finance | $18.9 million | $31.7 million | Missing or faulty documents | ستبعد النقد بسبب عدم الراج تاريخ اصدار الجواز وتاريخ نفاذ الجواز في قواتم البع ستبعد النقد بسبب عدم ادراج تاريخ |
| 23 November 2013 | Al-Bilad Islamic Bank for Investment & Finance | $17.7 million | $24.5 million | No reason given, or unreadable | |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $17.2 million | $23.8 million | No reason given, or unreadable | |
| 7 January 2014 | Al-Bilad Islamic Bank for Investment & Finance | $17 million | $29.4 million | Other reasons | الارين رتروف قوة) تعم بمترع فشوارة في نجرة استوادة من سساوردين |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $16.9 million | $27 million | Held back for audit | لاغراض تدافيقية ,!76 يول في ل |
| 8 January 2013 | Al-Bilad Islamic Bank for Investment & Finance | $16.9 million | $16.9 million | Other reasons | كون شركة افاق المستقبل شركة واجهيه لم تقدم اي اوليات عند طلبها من قبل المستوردين |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $16.4 million | $21.6 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | 1-تسلسل 4 في كشف الحوالة حسب طلب المصرف بكتابهم المرقم 2890/395/13 في 2013/10/3 2-تسلسل 1 و2 في كشف الحوالة حسب طلب المصرف بكتابهم المرقم 2892/397/13 في 2013/19/3 |
| 3 February 2014 | Al-Bilad Islamic Bank for Investment & Finance | $15.8 million | $20.5 million | Held back for audit | | (#ت جوت3وت6) لاغراض تداوقية |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $15.8 million | $15.8 million | Bank's funds did not cover the request | لمعدم كفاية قيد RTGS |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $15.6 million | $25.8 million | Other reasons | لدين عم فها ان كن كم متريج اجواة الاستات فى كند الموالياة |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $15.5 million | $29.2 million | Held back for audit | 15,525,000 تسلسل 1 و 2 و 3و 5 لا غراض تدتيليا |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $15.5 million | $29.6 million | No reason given, or unreadable | |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $15.3 million | $29.6 million | Other reasons | لح ا ضراض قارة الاسي |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $15.2 million | $24 million | Held back for audit; Penalty on, or suspension of, the bank | ت4وت5) حسبب كتاب المصرف المرقم ت2) لاغراض تدقيقة |
| 25 September 2013 | Al-Bilad Islamic Bank for Investment & Finance | $15.1 million | $21.6 million | Held back for audit; Penalty on, or suspension of, the bank; Withdrawn at the bank's request | 1-تسلسل 1 بناء على طلب المصرف بكتابهم المرقم 2808 في 2013/9/19 2-تسلسل 2 لاغراض تدقيقية |
| 12 September 2013 | Al-Bilad Islamic Bank for Investment & Finance | $14.9 million | $14.9 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد |
| 3 March 2014 | Al-Bilad Islamic Bank for Investment & Finance | $14.9 million | $29.2 million | Other reasons | !#ت1وت2 وت 6) لافراض عاينية |
| 5 October 2013 | Al-Bilad Islamic Bank for Investment & Finance | $14.9 million | $23.7 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | 1-تسلسل 1 و2 في كشف الحوالة بناء على طلب المصرف بكتابهم المرقم 2891/23 في 2013/10/3 2-تسلسل 3 بناء على طلب المصرف بكتابهم المرقم 919/5 في 2013/9/29 2-تسلسل 6 في كشف الحوالة بموجب كتاب المصرف 2893/13 في 2013/10/3 |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $14.8 million | $24.6 million | No reason given, or unreadable | |
| 3 March 2014 | Al-Bilad Islamic Bank for Investment & Finance | $14.8 million | $27.7 million | Timing or procedure | تكوت 4وت6,يزجل في الوقت الحاضر) |
| 26 September 2013 | Al-Bilad Islamic Bank for Investment & Finance | $14.5 million | $23.8 million | Held back for audit | تسلسل ,!2 و3 و 6 ) لاغراض تدقيقية |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $14.3 million | $28.7 million | Other reasons | تعلسل 2 ر 3م 8 تزجل لاظر فين عالياية |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $14.3 million | $29.6 million | Timing or procedure | إتزجل فلى الوقت الحاضر لاغراش غايية الحواقة و,ت3ر8) |
| 29 May 2014 | Al-Bilad Islamic Bank for Investment & Finance | $14.2 million | $29.1 million | Other reasons | امضر وت وتربن فى قولت ممدر مك الاول لى قُرت المفى هرات |
| 13 January 2013 | Al-Bilad Islamic Bank for Investment & Finance | $14 million | $14 million | Other reasons | حسب توجيهات السيد المحافظ وكالة |
| 15 January 2013 | Al-Bilad Islamic Bank for Investment & Finance | $13.9 million | $13.9 million | Other reasons | حسب توجية السيد المحافظ |
| 20 January 2014 | Al-Bilad Islamic Bank for Investment & Finance | $13.8 million | $28.6 million | Held back for audit | 4) لاغراض تدقو 20741010 ليم كنية فى مليرم 549/13 |
| 14 January 2013 | Al-Bilad Islamic Bank for Investment & Finance | $13.3 million | $13.3 million | Missing or faulty documents | لعدم ذكر العنوان الوظيفي للموقع عن المدير المفوض |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $13.1 million | $29.1 million | No reason given, or unreadable | |
| 21 October 2013 | Al-Bilad Islamic Bank for Investment & Finance | $13 million | $16.5 million | Held back for audit | تسلسل 2 و3 و4 في كشف الحوالة لاغراض تدقيقية |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $13 million | $26.3 million | Other reasons | تحاضر لا غم نض تمايتي |
| 20 January 2013 | Al-Bilad Islamic Bank for Investment & Finance | $13 million | $13 million | Other reasons | كون الزبون غير ملتزم بتعليمات المزاد |
| 15 July 2014 | Al-Bilad Islamic Bank for Investment & Finance | $12.8 million | $12.8 million | Missing or faulty documents; Timing or procedure | دم اعتماد توقيع المدير المقوض وكالة ضمن كت 2 لعدم مصرف المرقم 1898/6 في 14/06/30 ااستحصال موافقة الصيرفة فى الوقت الحاضر |
| undated | Al-Bilad Islamic Bank for Investment & Finance | $12.8 million | $28.7 million | Other reasons | شلسل 3 و 6 و 7 لا غراض عايانية |
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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.