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- Withdrawn at the bank's request$1.27 billion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.
106 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 |
|---|---|---|---|---|---|
| 14 January 2013 | Commercial Bank of Iraq | $16.9 million | $16.9 million | Other reasons | كون ختم كشف الحوالات مستنسخ |
| 30 November 2014 | Commercial Bank of Iraq | $16 million | $16 million | Held back for audit | 16,000,000 لاعراض تدقيقية . |
| 18 May 2014 | Commercial Bank of Iraq | $14.7 million | $14.7 million | Names or details do not match; Penalty on, or suspension of, the bank | استبعاد المصرف لاختلاف اسم مخول وحدة غسن الامول وحسب مذكرة الصيرفة المرقمة 6924/3/9 في 2014/5/6 |
| undated | Commercial Bank of Iraq | $14.5 million | $16 million | The same customer at more than one bank; Held back for audit | لغ !30.000) من الفرع الرئيس كرار اسماء ومن شركة الواتق لتكرا ,)س 14!لا غراض تتكيقية |
| 28 December 2014 | Commercial Bank of Iraq | $14.5 million | $16 million | The same customer at more than one bank; Held back for audit | المبلغ !,!14500) لاغراض تدقيقية والمبلغ !,10) لتكرار ,2)اسم من الفرع الرئيسي |
| undated | Commercial Bank of Iraq | $13.3 million | $13.3 million | Other reasons | *دم تقديمه اشعار يغطي مبلغ طلب الشراء لهذا اليوم مخالف بذلك تعليمات 588 فى |
| undated | Commercial Bank of Iraq | $12.5 million | $12.5 million | Other reasons | مدم وجود مراقب امنثال حاليا (والمرق 1173 في 2014/03/27 |
| 19 July 2014 | Commercial Bank of Iraq | $12.2 million | $12.2 million | Penalty on, or suspension of, the bank | موجب مذكرة الصيرفة المرقما 9458/2/9 في 2014/6/18 |
| 25 February 2014 | Commercial Bank of Iraq | $12.1 million | $12.1 million | Other reasons | التزامه بايداع مبلغ الحوالة حسب تعلي المرقمة 19/3/9لمنة 4 |
| 10 March 2014 | Commercial Bank of Iraq | $11.9 million | $11.9 million | Customer in breach of anti-money-laundering rules | مخالف لتعليمات 588 في 2014/02/06 |
| undated | Commercial Bank of Iraq | $11.9 million | $11.9 million | Other reasons | يستبعد استادا الى قرار الصيرفة بمذكرتهم المرقمة 1173 في 2014/03/27 |
| 18 June 2014 | Commercial Bank of Iraq | $11.2 million | $11.2 million | Other reasons | بموجب محضر اجتماع رقم ,(5) نسنة |
| undated | Commercial Bank of Iraq | $10.9 million | $14.8 million | The same customer at more than one bank; Held back for audit | من النقد لتكرار ,5) اسماء مع نفس قوائم 10,861,000 المصرف الحوالة لاغراض تدقيقية |
| 22 May 2013 | Commercial Bank of Iraq | $10 million | $14.5 million | Company's activity does not match the goods; Names or details do not match | لاختلاف نشاط المستفيد تسلسل !4,5) |
| undated | Commercial Bank of Iraq | $10 million | $10 million | Customer in breach of anti-money-laundering rules; Names or details do not match; Penalty on, or suspension of, the bank | الاختلاف اسم مخول وحدة غسل الأموال سب مذكرة السيرفة 6924 قم |
| 17 March 2013 | Commercial Bank of Iraq | $9.9 million | $9.9 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 15 May 2014 | Commercial Bank of Iraq | $9.7 million | $9.7 million | Held back for audit | الاغراض تدقيقية |
| 26 October 2013 | Commercial Bank of Iraq | $9.6 million | $9.6 million | Missing or faulty documents | تستبعد لعدم تقديم معاملة جديدة حسب المكالمة الهاتفية مع المصرف |
| 11 March 2013 | Commercial Bank of Iraq | $9.2 million | $9.2 million | Customer in breach of anti-money-laundering rules; Held back for audit | 1- وجود زبون مخالف لتعليمات غسيل الاموال 2-لاغراض تدقيقية برقم وتاريخ الفاتورة |
| 28 March 2013 | Commercial Bank of Iraq | $9.2 million | $9.2 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 25 February 2014 | Commercial Bank of Iraq | $8.8 million | $12.8 million | The same customer at more than one bank; Penalty on, or suspension of, the bank; Withdrawn at the bank's request | الحوالة بناء على طلب المصرف بكتابه 339/2014 في 2014/02/25 الر نوسي وللمسطين) اسماء مع فروع المنص |
| 7 March 2013 | Commercial Bank of Iraq | $8.7 million | $10.4 million | Held back for audit | الاموال 2- لاغراض تدقيق رقم وتاريخ الفلتمة |
| 3 September 2013 | Commercial Bank of Iraq | $8.4 million | $17.2 million | Missing or faulty documents; Penalty on, or suspension of, the bank; Withdrawn at the bank's request | استبعدت الحوالة حسب طلب المصرف بكتابه المرقم 1052 في 2013/9/1 واستبعد النقد لعدم ادراج اسم الام |
| undated | Commercial Bank of Iraq | $8.3 million | $8.3 million | Held back for audit | 8,251,000 الاغراض تدقيقية |
| 24 June 2014 | Commercial Bank of Iraq | $8.2 million | $8.2 million | Penalty on, or suspension of, the bank | النقد والحوالة استنادا الى مذكرة الصيرفة المرقمة 9458/2/9 في 2014/06/18 |
| 27 February 2014 | Commercial Bank of Iraq | $7.9 million | $7.9 million | Withdrawn at the bank's request | بموجب طلب المصرف المرقم 2014/339 في |
| undated | Commercial Bank of Iraq | $7.8 million | $7.8 million | Other reasons | المبالخ الى اسكارة التاغ للسه ركتنبة السباع عهر مطابق |
| undated | Commercial Bank of Iraq | $7.7 million | $7.7 million | Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم استحصال الموافقة على توقيع بديل مراقب الامنثال لغاية تاريخه بموجب مذكرة الصيرفة المرقمة 1173/3/1 في |
| undated | Commercial Bank of Iraq | $7.6 million | $7.6 million | Penalty on, or suspension of, the bank | بموجب مذكرة الصيرفة المرقمة 9458/2/9 في 2014/06/18 |
| 16 September 2013 | Commercial Bank of Iraq | $7.5 million | $7.5 million | Held back for audit | اغراض تدقيقية |
| 28 February 2013 | Commercial Bank of Iraq | $7.4 million | $12.4 million | Held back for audit | 1- يقدم يوم الثلاثاء وحسب الجدول 2- لاغراض تدقيقية |
| 14 March 2013 | Commercial Bank of Iraq | $7.3 million | $9.2 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| undated | Commercial Bank of Iraq | $7.2 million | $7.2 million | Other reasons | عدم زبدة راس المال |
| 17 May 2014 | Commercial Bank of Iraq | $6.9 million | $6.9 million | No reason given, or unreadable | |
| undated | Commercial Bank of Iraq | $6.8 million | $6.8 million | Other reasons | استناورا الى هذكرة قبم للشؤون القنونية المرقدة 4762 في 2013/11/4 |
| 5 June 2014 | Commercial Bank of Iraq | $6.8 million | $20.7 million | Penalty on, or suspension of, the bank | استبعد التسلسل 1 و6و7 حسب مذكرة لاستثمارات المرقمة 1868/2/5 فى البنك العربي الافريقي |
| undated | Commercial Bank of Iraq | $6.7 million | $6.7 million | Penalty on, or suspension of, the bank | يموجب كتابه المرقم 2014/34 في 014/02/25 |
| undated | Commercial Bank of Iraq | $6.6 million | $23.3 million | Held back for audit | لاغراض تدقيقية |
| 1 March 2014 | Commercial Bank of Iraq | $6.5 million | $6.5 million | Other reasons | 2014/350 في 42014/02/25 المرقم |
| undated | Commercial Bank of Iraq | $6.2 million | $6.2 million | Other reasons | عدم زيلادة راس المال |
| undated | Commercial Bank of Iraq | $6 million | $6 million | Penalty on, or suspension of, the bank | بموجب الكتاب المصرف المرقم 2014/345 في |
| undated | Commercial Bank of Iraq | $5.9 million | $5.9 million | Penalty on, or suspension of, the bank | حسب مذكرة الصيرفة المرقمة 945,8/2/9 إفي 2014/6/18 |
| undated | Commercial Bank of Iraq | $5.9 million | $5.9 million | Penalty on, or suspension of, the bank | بموجب مذكرة الصيرفة المرقمة 9458/2/9 في 2014/06/18 |
| 27 March 2013 | Commercial Bank of Iraq | $5.8 million | $5.8 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| undated | Commercial Bank of Iraq | $5.7 million | $13.7 million | Held back for audit | ,!ت1وت3) اغراض تدليقية |
| 16 November 2013 | Commercial Bank of Iraq | $5.5 million | $5.5 million | No reason given, or unreadable | |
| 4 June 2014 | Commercial Bank of Iraq | $5.3 million | $17.6 million | Held back for audit | استبعادت!4و5) !لاغراض تدقيقية) |
| 3 March 2014 | Commercial Bank of Iraq | $5.2 million | $16.5 million | Timing or procedure | ,ت3) ,يؤجل في الوقت الحاضر) |
| 14 February 2013 | Commercial Bank of Iraq | $5 million | $11.5 million | Held back for audit | لاغراض تدقيقية |
| 20 March 2013 | Commercial Bank of Iraq | $5 million | $5 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
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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.