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- Withdrawn at the bank's request$1.27 billion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.
75 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 |
|---|---|---|---|---|---|
| 17 February 2013 | Credit Bank of Iraq | $10.1 million | $10.1 million | Missing or faulty documents | لعدم وجود رصيد كافي للمصرف |
| 28 July 2013 | Credit Bank of Iraq | $5.6 million | $5.6 million | Other reasons | سبب الاستبعاد لانتهاء تاريخ الفواتير |
| 29 January 2014 | Credit Bank of Iraq | $5.5 million | $5.5 million | Missing or faulty documents | العدم تقديم سويقت |
| undated | Credit Bank of Iraq | $5.5 million | $5.5 million | Missing or faulty documents; Held back for audit | ستبعدت الحوالة لاغراض تدقيقية ستبعد النقد لعدم ختم الاستمارة من قبل المصرف |
| 15 April 2013 | Credit Bank of Iraq | $4.7 million | $9.1 million | Other reasons | عدم الالتزام بالتعليمات |
| undated | Credit Bank of Iraq | $4.6 million | $4.6 million | No reason given, or unreadable | |
| undated | Credit Bank of Iraq | $4.3 million | $4.3 million | Other reasons | عرفض تدقواية |
| 11 February 2013 | Credit Bank of Iraq | $4 million | $5.7 million | Held back for audit | يؤجل لاغراض تنظيمية ويعاد تقديم طلب شراء النقد |
| 13 February 2013 | Credit Bank of Iraq | $4 million | $5.2 million | Missing or faulty documents; Held back for audit | لاغراض تنظيمية ويقدم يوم غدا عدم ذكر العنوان الوظيفي للمخول الموقع على |
| 13 May 2013 | Credit Bank of Iraq | $4 million | $4.5 million | Missing or faulty documents | عدم وجود الاقرار |
| 17 June 2013 | Credit Bank of Iraq | $4 million | $7.6 million | Missing or faulty documents | لعدم وجود ختم مراقب الامتثال على اسماء زبانن النقد |
| 8 July 2013 | Credit Bank of Iraq | $4 million | $4 million | Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم وجود توقيع المخول على كتاب الاقرار |
| undated | Credit Bank of Iraq | $4 million | $4 million | Other reasons | عدم توقع المدير المفوض على فقوام المرفة |
| 28 February 2013 | Credit Bank of Iraq | $3.9 million | $3.9 million | Other reasons | تاريخ الاقرار قديم |
| 30 January 2014 | Credit Bank of Iraq | $3.9 million | $3.9 million | No reason given, or unreadable | |
| 8 December 2013 | Credit Bank of Iraq | $3.8 million | $3.8 million | Other reasons | 17 4د 2043/1126 نتال فى منق ني اعبيرفا الرقتقين 3587/3/9 و3977 |
| 30 June 2013 | Credit Bank of Iraq | $3.7 million | $3.7 million | Missing or faulty documents | سبب الاستبعاد 1-لنفاذ تاريخ الفاتورة تسلسل !2,5,6) في كشف الحوالات 2-لعدم وجود توقيع المدير المفوض |
| 9 October 2013 | Credit Bank of Iraq | $3.5 million | $3.5 million | Missing or faulty documents | سبب الاستبعاد عدم ختم الاستمارة من قبل المصرف وعدم تقديم معلومات السويفت |
| 9 December 2013 | Credit Bank of Iraq | $3.5 million | $3.5 million | No reason given, or unreadable | |
| undated | Credit Bank of Iraq | $3.4 million | $3.4 million | Other reasons | 0190017 رالفي الاستال فى مذارة الصيرفة واَلإتامن الرقا وي |
| undated | Credit Bank of Iraq | $3.3 million | $5.5 million | No reason given, or unreadable | |
| 14 January 2013 | Credit Bank of Iraq | $3.3 million | $3.3 million | Other reasons | كون المخول عن مراقب الامتثال غير معروف لدينا |
| 17 July 2013 | Credit Bank of Iraq | $3 million | $3.5 million | Other reasons | الحوالات |
| 19 November 2013 | Credit Bank of Iraq | $3 million | $3 million | Other reasons | 2,998,000 علم تقليم مضومات المسويات..... |
| 26 June 2013 | Credit Bank of Iraq | $2.8 million | $4.1 million | Problem with the import licence; Held back for audit | سبب الاستبعاد 1-لنفاذ تاريخ الفاتورة تسلسل !,!8) في كشف الحوالات 2-لاغراض تدقيقية تسلسل ,!3(12-لنفاذ اجازة الاستيراد تسلسل,11,12,13,14 3,5,6,7,9,10) |
| 5 December 2013 | Credit Bank of Iraq | $2.8 million | $2.8 million | No reason given, or unreadable | |
| 29 January 2013 | Credit Bank of Iraq | $2.8 million | $2.8 million | Missing or faulty documents | لعدم وجود هويه تعريفية لمراقب الامتثال |
| 28 January 2013 | Credit Bank of Iraq | $2.5 million | $6.5 million | Missing or faulty documents | لعدم معرفة هوية مراقب الامتثال |
| 26 February 2013 | Credit Bank of Iraq | $2 million | $2 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 6 August 2013 | Credit Bank of Iraq | $1.8 million | $2.1 million | Other reasons | لانتهاء صلاحية الفاتورة تسلسل ,2,3,4) في كشف الحوالات |
| 6 May 2013 | Credit Bank of Iraq | $1.8 million | $7 million | Problem with the import licence | لكونه اعتماد. 2- تاريخ الاجازة قديم |
| 23 July 2013 | Credit Bank of Iraq | $1.8 million | $1.8 million | Other reasons | لانتهاء تاريخ الفاتورة |
| 10 December 2013 | Credit Bank of Iraq | $1.7 million | $1.7 million | No reason given, or unreadable | |
| 18 June 2013 | Credit Bank of Iraq | $1.7 million | $6 million | Held back for audit | الاغراض تدقيقية تسلسل ,!1,2,4,3,9) في كشف الحوالات |
| undated | Credit Bank of Iraq | $1.6 million | $1.6 million | Bank's funds did not cover the request; Missing or faulty documents | 1,594,000 لعدم كفاية الرصيد لتغطية طلب البنك |
| undated | Credit Bank of Iraq | $1.6 million | $3.2 million | Held back for audit | الحاضلا غراض تدقيقية (يؤجل في الوقت |
| 12 September 2013 | Credit Bank of Iraq | $1.6 million | $1.6 million | Held back for audit | سبب الاستبعاد اغراض تدقيقية |
| 22 April 2013 | Credit Bank of Iraq | $1.5 million | $7 million | The same customer at more than one bank | تكرار اسم المحول |
| 7 February 2013 | Credit Bank of Iraq | $1.5 million | $1.5 million | Other reasons | تاريخ استمارة الشراء خطا |
| 4 February 2014 | Credit Bank of Iraq | $1.5 million | $3.5 million | Problem with the import licence | #(ت10) بسهب اجازة الاستيراد دافذة في 2014/02/02 |
| undated | Credit Bank of Iraq | $1.5 million | $1.5 million | Held back for audit; Timing or procedure | (يزجل في الوقت الحاضر ) لاغراض تدقيقية |
| 1 October 2013 | Credit Bank of Iraq | $1.5 million | $1.5 million | Held back for audit | اغراض تدقيقية |
| 20 October 2013 | Credit Bank of Iraq | $1.5 million | $3.5 million | Held back for audit | تسلسل 10 في كشف الحوالة لاغراض تدقيقية |
| 29 July 2013 | Credit Bank of Iraq | $1.4 million | $5.4 million | Other reasons | لانتهاء صلاحية الفاتورة تسلسل ,1,2,3) في كشف الحوالات |
| 8 October 2013 | Credit Bank of Iraq | $1.4 million | $1.4 million | Missing or faulty documents | عدم تقديم معلومات السويفت |
| 7 October 2013 | Credit Bank of Iraq | $1.3 million | $5.3 million | Names or details do not match; Held back for audit | 1-استبعدت الحوالة لاغراض تدقيقية 2-استبعد من النقد لتشابه رقم جواز السسفر واختلاف الاسماء |
| undated | Credit Bank of Iraq | $1.3 million | $3.7 million | Held back for audit | سبب الاستبعاد تسلسل 28 في كشف الحوالة لاغراض تدقيقية |
| 4 July 2013 | Credit Bank of Iraq | $1.3 million | $2.8 million | Old or invalid invoice | تاريخ الفاتورة قديم تسلسل !,!5,6,7) |
| undated | Credit Bank of Iraq | $1.3 million | $1.3 million | Other reasons | إ201 2044/17 مرافي الومخال فى منفرة الميرفة والتصان 3507/000 في |
| undated | Credit Bank of Iraq | $1.2 million | $9 million | Other reasons | 1- بالنسبة للحوالة لانتهاء صلاحية الفاتورة تسلسل,2,8,9,10,11,12,13,14,17,15) في كشف الحوالات 2-بالنسبة للنقد استبعاد زبائن فرع البياع البالغ عددهم !70) زبون لدخولهم المزاد بصورة متكررة |
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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.