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- Withdrawn at the bank's request$1.27 billion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.
214 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 |
|---|---|---|---|---|---|
| 22 October 2013 | Economy Bank for Investment & Finance | $16.6 million | $16.6 million | Bank below the capital requirement; Penalty on, or suspension of, the bank | عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقما |
| 23 October 2013 | Economy Bank for Investment & Finance | $15.2 million | $15.2 million | Other reasons | 3333/3/9 فى 2013/10/22 |
| 8 October 2013 | Economy Bank for Investment & Finance | $14.8 million | $19.3 million | The same customer at more than one bank | تبعد من النقد لتكرار الاسماء ضمن قوائم المصرف نفسه برمع استبعد من النقد لتكرار الاسماء ومع شركاته ومع مصارف اخرى ,!الرشيد وايلاف والاقتصاد) |
| undated | Economy Bank for Investment & Finance | $14.6 million | $19.1 million | Other reasons | الخل مم وافلي مر قي اإستكال فذى صفك المتيرية الثغنة لتزافاية فلضموفة تحن الوعم أمارك ف شذر فات الشاهمة لمصرل الزديد رمع مصرف الوقنصة |
| 5 October 2013 | Economy Bank for Investment & Finance | $14.2 million | $18.2 million | Other reasons | تقديم المعاملة في يوم الخميس 2013/10/3 والمفروض تقدم قبل اسبوع |
| 18 June 2013 | Economy Bank for Investment & Finance | $14 million | $14 million | Bank's funds did not cover the request; Missing or faulty documents | أ1- عدم كفاية رصيد المصرف 2-لعدم وجود ختم المسؤولين على قوانم |
| 20 October 2013 | Economy Bank for Investment & Finance | $13.3 million | $13.3 million | Penalty on, or suspension of, the bank | بناء على مذكرة المديرية العامة للحسابات المرقمة حس/2875/3/11 في |
| 26 October 2013 | Economy Bank for Investment & Finance | $13.2 million | $21.8 million | The same customer at more than one bank | ستبعد من النقد لتكرار الاسماء مع قوانم مصرف التنمية ومصرف الموصل / فرع بغداد ومع مصرف بغداد تبعدت الحوالة المقدمة يوم السبت 2013/10/26 واستبعدت التسلسلات 1و2و3و |
| 20 June 2013 | Economy Bank for Investment & Finance | $13 million | $13 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 15 September 2013 | Economy Bank for Investment & Finance | $12.9 million | $12.9 million | Missing or faulty documents | لعدم توقيع المدير المفوض على استمارة الشراء وتم ابلاغ المصارف كافة بضرورة ذلك مسبقأ |
| 23 September 2013 | Economy Bank for Investment & Finance | $12.9 million | $12.9 million | Other reasons | عدم توقيع المدير المفوض لكشف الحوالات الصادرة رغم تبليغ المصرف بضرورة ذلك |
| 3 October 2013 | Economy Bank for Investment & Finance | $12.9 million | $12.9 million | No reason given, or unreadable | |
| 16 September 2013 | Economy Bank for Investment & Finance | $12.6 million | $12.6 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 673 في 2013/9/15 |
| 24 October 2013 | Economy Bank for Investment & Finance | $12.5 million | $12.5 million | Bank below the capital requirement; Penalty on, or suspension of, the bank | عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقمة 3333/3/9 في 2013/10/22 |
| 6 June 2013 | Economy Bank for Investment & Finance | $12.5 million | $13.8 million | Missing or faulty documents | لعدم وجود تواقيع المخولين على القوائم الخاصة بالمبل |
| 16 December 2013 | Economy Bank for Investment & Finance | $12.4 million | $12.4 million | Other reasons | 12,447,000 لاغرض عهير |
| undated | Economy Bank for Investment & Finance | $12.3 million | $12.3 million | No reason given, or unreadable | |
| 9 October 2013 | Economy Bank for Investment & Finance | $12.2 million | $15.4 million | Held back for audit | تسلسل(1و2 و4 6 و7 و8) في كشف الحوالة لاغراض تدقيقية |
| 11 June 2013 | Economy Bank for Investment & Finance | $11.8 million | $11.8 million | Names or details do not match; Missing or faulty documents | 1-لاختلاف تاريخ استمارة التحويل مع طلب التحويل 2-استبعاد النقد لعدم مطابقة المبلغ المطلوب مع الكشف المرفق بالمبالغ الموزعة3- لعدم قيام الشركة بتقديم اقرار شراء المبلغ |
| 23 June 2013 | Economy Bank for Investment & Finance | $11.7 million | $11.7 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 24 December 2014 | Economy Bank for Investment & Finance | $11.7 million | $16.6 million | Held back for audit | استبعاد المبلغ !,!2000) لاغراض تدقرقية |
| undated | Economy Bank for Investment & Finance | $11.5 million | $15.5 million | The same customer at more than one bank; Held back for audit | تبعدت الحواله لاغراض تدقيقر من النقد استبعد لتكرار الاسماء مع مصارف ايلاف وبغداد وكردستان والخلي |
| undated | Economy Bank for Investment & Finance | $11.5 million | $11.5 million | No reason given, or unreadable | |
| 19 September 2013 | Economy Bank for Investment & Finance | $10.8 million | $10.8 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| undated | Economy Bank for Investment & Finance | $10.8 million | $10.8 million | Problem with the import licence; Held back for audit | 1-تسلسل 1 و2 في كشف الحوالة لوجود خطأ في تاريخ الاجازة 2-تسلسل 3 لوجود خطأ في الغرض ونوع البضاعة 3- تسلسل 4 و5 لاغراض تدقيقية |
| undated | Economy Bank for Investment & Finance | $10.7 million | $10.7 million | Other reasons | البنك كفاية رصيد المصرف لتغطية طلب |
| 9 December 2013 | Economy Bank for Investment & Finance | $10.5 million | $12.4 million | Other reasons | مفل ف وهو ة لاغراض اهي |
| 16 November 2013 | Economy Bank for Investment & Finance | $10.2 million | $10.2 million | No reason given, or unreadable | |
| 2 October 2013 | Economy Bank for Investment & Finance | $10 million | $15.3 million | Held back for audit | تسلسل 3 و4 و6 و7 لاغراض تدقيقية |
| 24 February 2013 | Economy Bank for Investment & Finance | $10 million | $10 million | Other reasons | تاريخ الاقرار قديم |
| 14 January 2013 | Economy Bank for Investment & Finance | $9.9 million | $9.9 million | Other reasons | لكون صيغة الاقرار غير صحيحة |
| 8 January 2013 | Economy Bank for Investment & Finance | $9.9 million | $9.9 million | Other reasons | كون استمارة الشراء خطأ |
| 31 January 2013 | Economy Bank for Investment & Finance | $9.9 million | $9.9 million | Other reasons | بسبب عدم التعريف بوظيفه المخولين على الاستماره |
| 14 September 2013 | Economy Bank for Investment & Finance | $9.5 million | $9.5 million | Missing or faulty documents | لعدم توقيع استمارة الشراء من قبل المدير المفوض |
| 22 September 2013 | Economy Bank for Investment & Finance | $9.4 million | $9.4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم 1003 في 2013/9/22 |
| undated | Economy Bank for Investment & Finance | $9.4 million | $14 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف الذي يبلغ ,!15916243) مليار دينار عراقي |
| undated | Economy Bank for Investment & Finance | $9.3 million | $13.5 million | Held back for audit | تسلسل,8,7,5,4,3,1) في كشف الحوالة لاغراض تدقيقية |
| 28 July 2013 | Economy Bank for Investment & Finance | $8.9 million | $8.9 million | No reason given, or unreadable | |
| undated | Economy Bank for Investment & Finance | $8.7 million | $8.7 million | Other reasons | هد 2013/11/10 او |
| 25 November 2013 | Economy Bank for Investment & Finance | $8.7 million | $8.7 million | No reason given, or unreadable | |
| 4 December 2013 | Economy Bank for Investment & Finance | $8.7 million | $8.7 million | Other reasons | خطأ فى كتفية اسم مردقب الامتتال فلي كشف المواء |
| undated | Economy Bank for Investment & Finance | $8.5 million | $8.5 million | Problem with the import licence; Names or details do not match | تسلسل ,2) في كنف الحوائة لاختلاف الحوالة لاختلاف الاسم في الاجازة عما هو مذكور في الكشف |
| 14 April 2013 | Economy Bank for Investment & Finance | $8.2 million | $8.2 million | Bank's funds did not cover the request | عدم كفاية الرصيد |
| 12 September 2013 | Economy Bank for Investment & Finance | $8.1 million | $13.5 million | Held back for audit | اغراض تدقيقية |
| 11 September 2013 | Economy Bank for Investment & Finance | $8 million | $13.3 million | Held back for audit | غراض تدقيقية |
| 21 October 2013 | Economy Bank for Investment & Finance | $8 million | $14 million | Held back for audit | سلسل 1 و3 و6 و7 في كشف الحوالات لاغراض تدقيقية |
| 12 April 2014 | Economy Bank for Investment & Finance | $8 million | $8 million | Penalty on, or suspension of, the bank | حوالة بموجب كتاب المصرف المرقم 276 في 2014/04/08 اقد اسا عد فاية |
| 27 February 2013 | Economy Bank for Investment & Finance | $7.9 million | $9.8 million | Held back for audit | 2- لاغراض تدقيقية |
| undated | Economy Bank for Investment & Finance | $7.7 million | $14 million | Held back for audit | نسلسل ,!7,5,4,1) لاغراض تدقيقية |
| 21 February 2013 | Economy Bank for Investment & Finance | $7.5 million | $7.5 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد |
Page 1 of 5
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.