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- Withdrawn at the bank's request$1.27 billion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.
44 rows
| Date | Bank | Refused | Of a request for | Reason | The committee's words |
|---|---|---|---|---|---|
| 15 June 2013 | Banque Libano-Française (Iraq) | $6 million | $6 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد |
| 4 July 2013 | Banque Libano-Française (Iraq) | $5.6 million | $5.6 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| undated | Banque Libano-Française (Iraq) | $5.5 million | $5.5 million | No reason given, or unreadable | |
| 14 September 2013 | Banque Libano-Française (Iraq) | $5.1 million | $5.1 million | Held back for audit | غراض تدقيقية |
| 26 February 2013 | Banque Libano-Française (Iraq) | $5 million | $5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 3 March 2013 | Banque Libano-Française (Iraq) | $5 million | $5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 5 March 2013 | Banque Libano-Française (Iraq) | $5 million | $5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 10 March 2013 | Banque Libano-Française (Iraq) | $5 million | $5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 8 October 2013 | Banque Libano-Française (Iraq) | $5 million | $5.4 million | Held back for audit | سلسل ,1 و2 ) في كشف الحوالة لاغراض تدقيقية |
| 31 January 2013 | Banque Libano-Française (Iraq) | $5 million | $5 million | Penalty on, or suspension of, the bank | عدم مطابقة المبنغ رقما وكتابتا في استمارة الشراء |
| 15 September 2013 | Banque Libano-Française (Iraq) | $4.9 million | $4.9 million | Held back for audit | غراض تدقيقية |
| 18 September 2013 | Banque Libano-Française (Iraq) | $4.8 million | $4.8 million | Held back for audit | اغراض تدقيقية اغراض تدقيقية |
| 19 September 2013 | Banque Libano-Française (Iraq) | $4.8 million | $7.7 million | Held back for audit | تسلسل !,!2) لاغراض تدقيقية |
| 11 September 2013 | Banque Libano-Française (Iraq) | $4.8 million | $4.8 million | Held back for audit | غراض تدقيقية |
| 12 September 2013 | Banque Libano-Française (Iraq) | $4.8 million | $4.8 million | Held back for audit | 1غراض تدقيقية |
| 9 December 2013 | Banque Libano-Française (Iraq) | $4.7 million | $4.7 million | Other reasons | الحراض لاية |
| 16 September 2013 | Banque Libano-Française (Iraq) | $4.7 million | $4.7 million | Held back for audit | اغراض تدقيقية |
| 17 September 2013 | Banque Libano-Française (Iraq) | $4.7 million | $6.7 million | Held back for audit | اغراض تدقيقية |
| 20 February 2013 | Banque Libano-Française (Iraq) | $4.4 million | $4.4 million | Missing or faulty documents | عدم ذكر تاريخ الفاتورة |
| 21 February 2013 | Banque Libano-Française (Iraq) | $4.4 million | $4.4 million | Held back for audit | لاغراض تدقيقية |
| 19 February 2013 | Banque Libano-Française (Iraq) | $4 million | $4 million | Other reasons | تكرار نفس الغرض من الحوالة |
| 26 August 2013 | Banque Libano-Française (Iraq) | $3.5 million | $3.5 million | No reason given, or unreadable | |
| undated | Banque Libano-Française (Iraq) | $3.1 million | $8.5 million | Other reasons | تئسل 4 لا هراض عقواية |
| 3 March 2014 | Banque Libano-Française (Iraq) | $3 million | $3 million | Held back for audit | لاغراض تدقيقية |
| 7 December 2013 | Banque Libano-Française (Iraq) | $3 million | $3 million | No reason given, or unreadable | |
| undated | Banque Libano-Française (Iraq) | $3 million | $4.5 million | Held back for audit; Timing or procedure | ت1 يؤجل في الوقت الحاضر لاخراض تدقيقية |
| 9 October 2013 | Banque Libano-Française (Iraq) | $2.9 million | $2.9 million | Other reasons | عدم توقيع الاستمارة من قبل المدير المفوض |
| undated | Banque Libano-Française (Iraq) | $2.7 million | $2.7 million | Held back for audit | لاغراض تدقيقية |
| 2 October 2013 | Banque Libano-Française (Iraq) | $2.7 million | $2.7 million | Missing or faulty documents | لعدم تقديم معلومات السويفت |
| 23 October 2013 | Banque Libano-Française (Iraq) | $2.7 million | $4.9 million | Held back for audit | تسلسل 1 في كشف الحوالة لاغراض تدقيقية |
| 14 February 2013 | Banque Libano-Française (Iraq) | $2.5 million | $5 million | Other reasons | استبعاد(918) دولار كونها كسور |
| 25 February 2013 | Banque Libano-Française (Iraq) | $2.4 million | $2.4 million | Missing or faulty documents | عدم وجود تاريخ الفاتورة |
| 21 July 2013 | Banque Libano-Française (Iraq) | $2.3 million | $2.3 million | No reason given, or unreadable | |
| 3 October 2013 | Banque Libano-Française (Iraq) | $2.2 million | $2.2 million | Missing or faulty documents | لعدم تقديم السويفتات |
| 16 November 2013 | Banque Libano-Française (Iraq) | $2.1 million | $3.1 million | Held back for audit | تملصل 2 لا غراض تافهائية |
| 29 October 2013 | Banque Libano-Française (Iraq) | $2.1 million | $2.1 million | Names or details do not match; Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم تطابق المبلغ المكتوب رقما عما هو مكتوب كتابة |
| 30 October 2013 | Banque Libano-Française (Iraq) | $2.1 million | $2.1 million | Other reasons | قديم المعاملة في يوم الاربعاء المصادف 2013/10/30 وهذا مخالف للتعليمات التي تنص لى تقديم المعاملة قبل اسبوع من تاريخ المزاد الخاص به |
| undated | Banque Libano-Française (Iraq) | $2.1 million | $5.1 million | Held back for audit | سلصل 3 لا غراض تدقهاية |
| 18 November 2013 | Banque Libano-Française (Iraq) | $1.7 million | $3.8 million | Other reasons | تسلسل 2 في كشاف العوفة لاخراض تدقيابة |
| 24 February 2013 | Banque Libano-Française (Iraq) | $1.5 million | $2.7 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 22 January 2014 | Banque Libano-Française (Iraq) | $0.8 million | $3.7 million | Other reasons | !ت؟) لالتهاء افترة الفاتورة |
| undated | Banque Libano-Française (Iraq) | $0.8 million | $4 million | Other reasons | تمدسل Y 2 غراض عايئية |
| 20 June 2013 | Banque Libano-Française (Iraq) | $0.1 million | $0.6 million | Names or details do not match | لاختلاف رقم الفاتورة واختلاف الشركة المجهزة تسلسل ,1,3) |
| 29 June 2013 | Banque Libano-Française (Iraq) | $0.1 million | $4.8 million | Other reasons | لنفاذ تاريخ الفاتورة تسلسل !1) |
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.