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- Withdrawn at the bank's request$1.27 billion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.
51 rows
| Date | Bank | Refused | Of a request for | Reason | The committee's words |
|---|---|---|---|---|---|
| 1 June 2013 | Dijlah & Furat Bank for Development & Investment | $37.1 million | $37.1 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 30 May 2013 | Dijlah & Furat Bank for Development & Investment | $35.1 million | $35.1 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 2 June 2013 | Dijlah & Furat Bank for Development & Investment | $34.3 million | $38.3 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد المصرف |
| 21 May 2013 | Dijlah & Furat Bank for Development & Investment | $34.3 million | $34.3 million | The same customer at more than one bank; Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف 1-تكرار اسماء (شركة الانيق وشركة عبر الخليج) 2-نقصر |
| 6 June 2013 | Dijlah & Furat Bank for Development & Investment | $31.8 million | $31.8 million | Bank's funds did not cover the request; Missing or faulty documents; Held back for audit | لعدم كفاية رصيد المصرف 1-شركة الكرادة والفيحاء والسهيل وبلودان والسنان والافضل والسبر و الاباء !لاغراض تدقيقية )2-شركة السلسبيل والرونق!عدم وجود |
| 8 June 2013 | Dijlah & Furat Bank for Development & Investment | $30.7 million | $30.7 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 22 May 2013 | Dijlah & Furat Bank for Development & Investment | $29.9 million | $29.9 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 29 May 2013 | Dijlah & Furat Bank for Development & Investment | $27.4 million | $35.4 million | The same customer at more than one bank | 1-لتقديمه طلبين حوالة احدهما يخالف موعد التقديم2-لتكرار الفاتورة ذكثر من طلب تحويل تسلسل ,3,2,5,6) في كشف الحوالات |
| 12 June 2013 | Dijlah & Furat Bank for Development & Investment | $18.9 million | $18.9 million | Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم قيام المصرف بكتابة اسم الجهة المستفيدة بشكل صريح وتثبيت اختصاص الشركات |
| 19 June 2013 | Dijlah & Furat Bank for Development & Investment | $18.6 million | $18.6 million | Bank's funds did not cover the request | عدم كفاية رصيد المصرف |
| 18 June 2013 | Dijlah & Furat Bank for Development & Investment | $18.6 million | $18.6 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 3 June 2013 | Dijlah & Furat Bank for Development & Investment | $17.5 million | $35.1 million | Withdrawn at the bank's request | حسب طلب المصرف ك/3/6/2013-2122 |
| 28 May 2013 | Dijlah & Furat Bank for Development & Investment | $17 million | $17 million | Other reasons | لتجزئة الفاتورة وهذا يخالف التعليمات |
| 22 June 2013 | Dijlah & Furat Bank for Development & Investment | $15.9 million | $19.9 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار |
| 14 April 2013 | Dijlah & Furat Bank for Development & Investment | $15.7 million | $15.7 million | Bank's funds did not cover the request | عدم كفاية الرصيد |
| 23 June 2013 | Dijlah & Furat Bank for Development & Investment | $14.2 million | $14.2 million | The same customer at more than one bank; Bank below the capital requirement; Bank's funds did not cover the request; Missing or faulty documents | 1-لعدم استكمال راس مال المصرف الى 150 مليا 2-لعدم كفاية رصيد المصرف 3-لتكرار الاسماء |
| 26 June 2013 | Dijlah & Furat Bank for Development & Investment | $12.6 million | $12.6 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار دينار |
| 16 April 2013 | Dijlah & Furat Bank for Development & Investment | $12 million | $12 million | Other reasons | تجاوز المبلغ المحدد في التعليمات والبالغ !500) الف دولار |
| 1 April 2013 | Dijlah & Furat Bank for Development & Investment | $11.7 million | $11.7 million | Held back for audit | المستوردة 2-اغراض تدقيقية تتعلق بالزبون |
| 27 June 2013 | Dijlah & Furat Bank for Development & Investment | $11.3 million | $11.3 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار دينار |
| 15 January 2013 | Dijlah & Furat Bank for Development & Investment | $10.9 million | $10.9 million | Other reasons | المخول عن مراقب الامتثال لم يذكر اسمة وعنوانة |
| 7 February 2013 | Dijlah & Furat Bank for Development & Investment | $10.8 million | $10.8 million | Bank's funds did not cover the request | عدم كفاية الرصيد |
| 30 June 2013 | Dijlah & Furat Bank for Development & Investment | $10.8 million | $14.8 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال راس مال المصرف الى 150 مليار دينار |
| 24 June 2013 | Dijlah & Furat Bank for Development & Investment | $10.6 million | $10.6 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار دينار |
| 2 May 2013 | Dijlah & Furat Bank for Development & Investment | $10.5 million | $10.5 million | Bank's funds did not cover the request | عدم كفاية رصيد المصرف |
| 17 February 2013 | Dijlah & Furat Bank for Development & Investment | $10.4 million | $10.4 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 15 April 2013 | Dijlah & Furat Bank for Development & Investment | $10 million | $10 million | Other reasons | ,!500) الف دولار |
| 26 February 2013 | Dijlah & Furat Bank for Development & Investment | $9.8 million | $9.8 million | Other reasons | تاريخ الاقرار قديم |
| 25 February 2013 | Dijlah & Furat Bank for Development & Investment | $9.7 million | $12.2 million | Customer in breach of anti-money-laundering rules | لتعليمات غسيل الاموال |
| 28 February 2013 | Dijlah & Furat Bank for Development & Investment | $9.7 million | $9.7 million | Names or details do not match | 1- عدم تطابق ارقام الاستمارة 2- تاريخ الاقرار قديم |
| 6 March 2013 | Dijlah & Furat Bank for Development & Investment | $9.4 million | $9.4 million | Other reasons | خطأ في اسم الزبون المحول |
| 13 March 2013 | Dijlah & Furat Bank for Development & Investment | $9.4 million | $9.4 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| undated | Dijlah & Furat Bank for Development & Investment | $8.5 million | $8.5 million | The same customer at more than one bank; Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد 100,!-1)شركة العتماد تكرار الاسماء2- ,!900)شركة الرفيف والشارق وطيبة |
| 27 March 2013 | Dijlah & Furat Bank for Development & Investment | $8.3 million | $8.3 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 17 April 2013 | Dijlah & Furat Bank for Development & Investment | $7.9 million | $10.4 million | Other reasons | ,500) الف دولار |
| 20 March 2013 | Dijlah & Furat Bank for Development & Investment | $7.8 million | $7.8 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 26 March 2013 | Dijlah & Furat Bank for Development & Investment | $7 million | $7 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون شركة الحارث للتحويل المالي,!100) ممنوء |
| 25 June 2013 | Dijlah & Furat Bank for Development & Investment | $6.1 million | $6.1 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار دينار |
| 11 June 2013 | Dijlah & Furat Bank for Development & Investment | $6 million | $17.5 million | Company's activity does not match the goods; Names or details do not match | لاختلاف نشاط الشركة المستفيدة تسلسل ,!1) |
| 9 June 2013 | Dijlah & Furat Bank for Development & Investment | $5 million | $20.9 million | Duplicate or reused invoice | لاستخدام الفاتورة لاكثر من طلب تحويل تسلسل ,2) |
| 14 March 2013 | Dijlah & Furat Bank for Development & Investment | $3 million | $9.6 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 24 March 2013 | Dijlah & Furat Bank for Development & Investment | $3 million | $9.4 million | Held back for audit | اوراق تدقيقية تتعلق بالزبون |
| 25 March 2013 | Dijlah & Furat Bank for Development & Investment | $3 million | $11.9 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 11 February 2013 | Dijlah & Furat Bank for Development & Investment | $2.5 million | $13.2 million | Held back for audit | يؤجل لاغراض تنظيمية ويعاد تقديم طلب شراء النقد |
| 24 February 2013 | Dijlah & Furat Bank for Development & Investment | $2.5 million | $12.3 million | Names or details do not match | اختلاف الختم المثبت سابقا |
| 12 March 2013 | Dijlah & Furat Bank for Development & Investment | $2.5 million | $12.2 million | Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم تقديمة في اليوم المحدد للمصرف ليوم الاحد كل اسبوع لعدم وجود كتاب الاقرار لشركة مجموع الساحل |
| 20 February 2013 | Dijlah & Furat Bank for Development & Investment | $1.2 million | $10.9 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 29 April 2013 | Dijlah & Furat Bank for Development & Investment | $1 million | $8.5 million | Other reasons | المستفيدة |
| 19 March 2013 | Dijlah & Furat Bank for Development & Investment | $0.9 million | $9.2 million | Problem with the import licence | تاريخ اجازة الاستيراد قديمة شركتي !الياسر وسلسبيل) محاسب واحد |
| 16 June 2013 | Dijlah & Furat Bank for Development & Investment | $0.6 million | $23.1 million | The same customer at more than one bank | استبعاد شركتي ,البرد / البركة ) وذلك لتكرار الاسماء 1-شركة الهودج و الدانية والشارقة والربيع والبراء والفقمة ولبنان ( |
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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.