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- Withdrawn at the bank's request$1.27 billion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.
122 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 |
|---|---|---|---|---|---|
| 25 July 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $17.9 million | $17.9 million | No reason given, or unreadable | |
| 17 November 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $8.6 million | $8.6 million | Other reasons | علم مجود اسم السفول لقالي فلى استمارة الشراء |
| 6 November 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $8.4 million | $8.4 million | Missing or faulty documents | نعدم تقديم صويفتا |
| 4 November 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $8.3 million | $8.3 million | Missing or faulty documents | عدم تقديم السويفتات |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $6 million | $8.1 million | The same customer at more than one bank; Bank's funds did not cover the request | لكون تاريخ قيد ال RTGS ل,!20) شركة افي يوم 3/6 ليوم 2014/03/08 ولتكرار اسم من شركة العلا |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $5 million | $5 million | Held back for audit | الاعراض تدقيقية |
| 22 January 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $4.6 million | $4.6 million | Held back for audit | يزجل في الوقت الحاض !لاغراض تديقية) |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $4.3 million | $8.1 million | Other reasons | كد الحوالة بميب تقديم المعاملة يوم 2014/01/06 بدا يستبعد من النقد لوجود ,25! اسم مكرر |
| 19 February 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $4 million | No reason given, or unreadable | |
| 7 May 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $4 million | Penalty on, or suspension of, the bank | وجود عقوبة على المصرف |
| 3 September 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $4 million | Missing or faulty documents | لعدم ادراج اسم الام في الكشوفات المرفقة |
| 10 September 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $4 million | Timing or procedure | لورود الطلب متأخر علما اننا طلبنا ان تقدم المصارف طلباتها في اليوم الذي يسبق المزاد |
| 22 October 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $4 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 فى 2013/10/22 |
| 30 October 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $4 million | The same customer at more than one bank; Missing or faulty documents | عدم وجود اسم مخول المصرف فقط توقيعه وتكرار الاسماء مع فرع بغداد وجيهان وبغداد ومصرف الاهلي |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $4 million | No reason given, or unreadable | |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $4 million | $6.2 million | Bank's funds did not cover the request | لان قيد RTGS يوم 3/13 ليوم 3/18 مخالف بذلك لتعليمات 588 في |
| 11 December 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $2.5 million | $2.5 million | Problem with the import licence | الاجازة غير واضعة |
| 10 March 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $1.8 million | $5.1 million | The same customer at more than one bank | كرار !2) اسم من شركة الم تم استبعاد !6)شركات من اصل !17 وذلك لدخولها الاسبوع الماضي |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $1.8 million | $9.3 million | Other reasons | لكون المبلغ المودع به |
| 8 January 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $1.7 million | $1.7 million | No reason given, or unreadable | |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $1.7 million | $1.7 million | Old or invalid invoice; Problem with the import licence; Missing or faulty documents | لعدم وجود حقل مبلغ الفاتورة وعدم وجود رقم وتاريخ اجازة الاستيراد |
| 5 October 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $1.4 million | $5.4 million | Other reasons | تقديم المعاملة في يوم الخميس 2013/10/3 والمفروض تقدم قبل اسبوع |
| 20 March 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $1.1 million | $4.9 million | The same customer at more than one bank; The bank's whole request excluded | ن حصة المصرف لتكرار ,8) اسم واستبعاد ,37)ا، جلبها قوائم كاملة والمفروض (767 رمن الشركات استبعاد كلي (الحسمام والخابور والراب الوجود تكرار لاكثر من خمس اسماء لكل |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $1.1 million | $9.4 million | The same customer at more than one bank; The bank's whole request excluded; Held back for audit | ستبعاد كلي لشركة المثابرة والحولي والانيؤ عراض تدقيقية واستبعاد جزئي لتكرار اسم من ابي صيدا و(2) اسم من الاد حصة المصرف لتكرار ا |
| 5 August 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $1 million | $17.5 million | The same customer at more than one bank; The bank's whole request excluded | من حضة المصرف لتكرار ,!22) سم ومن الشركات استبعاد كلي لشركة الدانة لتكرار مساء واستبعاد جزني لتكرار ,1)اسم لكل من سدن والبهجة واشبيلية والرذاذ والمصباح |
| 28 May 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $1 million | $18.3 million | The same customer at more than one bank; The bank's whole request excluded | كرار جزئي ,18) اسم من عدة شركا استبعاد كلي لشركات (الإعتاب وابي ص والتاجي |
| 15 May 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $1 million | $14.7 million | Other reasons | تبعاد كلي (الحضر والبنين وسميراميسر )واستبعاد جزني لعدد من الشركاد |
| 13 April 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.9 million | $9 million | Other reasons | استبعد كلى للشركات (العرجون والميار والشمائل اسم واحد لكل من البحر والوجود, الساه والخبور والشراع ف(3) اسم من |
| 1 September 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.9 million | $14.4 million | The same customer at more than one bank | لتكرار ,!1)اسم لكل من ابي صيدا وارض السواد وعمان ونسيم كريلاء و,!2)اسم من الاصرة |
| 13 March 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.9 million | $9 million | The same customer at more than one bank | كرار ,4)اسم من شركة الشاعر واستبع كامل لشركة الوجود وورقة الزيتون والثورين المتحدة ولتكرار ,36)اسم مع نفس إقوائم المصرف |
| 1 March 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.9 million | $6.6 million | The same customer at more than one bank | لتكرار اسم واحد لكل من شركات القاهرة والرابح والجمال واستبعاد ثلاث شركات ,!الهذال والغاضرية والحسام ) لايداعهم قبل يوم من طلب الشراء |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $0.9 million | $7.5 million | The same customer at more than one bank; The bank's whole request excluded | من الشركات استبعاد كلي لشركة النزيه والميارو ,الباسم لتكرار ,2)اسم و,3)اسم استبعاد سابق )واستبعاد جزني للسجايا لتكرار ,3)اسم . |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $0.9 million | $15.6 million | No reason given, or unreadable | |
| 15 June 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.9 million | $6.9 million | The bank's whole request excluded; Held back for audit | ستبعاد اسم من شركة الوله لجابه قوانم كاملة واستبعاد كلي لشركات الساهر وابابيبل والميناء لاسباب تدقيقية |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $0.8 million | $16.3 million | The same customer at more than one bank; The bank's whole request excluded | كرار (17) اسم من عدة شكات استعادا زنية وكلية و,25)اسم من حصة المصرف الحيود استبعاد كلي نشركة القراطيس وأرض |
| 26 August 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.8 million | $12.1 million | The same customer at more than one bank; The bank's whole request excluded; Held back for audit | من حصة المصرف لاغراض تدقيقية ومن الشركات لتكرار ,1) اسم من إلصاير و,2)اسم من شارع النهر |
| 25 June 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.8 million | $4.8 million | Other reasons | شركة الشارق وشركة الشاكر (دخولهم مزاد العملة الاجنبية مع مصرف الرشيد) |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $0.8 million | $4 million | The same customer at more than one bank | لتكرار !,!14) اسم مع نفس قوائم المصرف ولجلبه قوائم كاملة ,800) اسم والمفروض !664)اسم |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $12 million | Other reasons | ستبعادات جز |
| undated | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $12 million | The same customer at more than one bank; The bank's whole request excluded | استبعادات جزئية لعدة شركات ثكرار اسماء واستبعاد كلي لشركة عمان لتكرار ,6,اسماء الي كار ,5)اسماء |
| 6 May 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $18.7 million | No reason given, or unreadable | |
| 12 August 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $17.8 million | No reason given, or unreadable | |
| 3 June 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $6.1 million | The same customer at more than one bank; The bank's whole request excluded | تبعاد جزئي لكل من شركة الوجود لتكرار ,1)اسم الميار ,2)اسم والجمال ,1)اسع وشركة التطو ,2)اسم وكلي لشركة الشبل والقليد من حصة ومن حصة المصرف لتكرار ,9)اسم |
| 31 August 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $17.7 million | The same customer at more than one bank | تبعاد كلي لشركة الفالحي والوشاح واستبعا جزئي لتكرار !1)اسم لكل من الهيفا والترانيم والميثم و!3)اسم لكل من الجدايل والمنديل |
| 7 May 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $12.3 million | No reason given, or unreadable | |
| 8 June 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.7 million | $8.4 million | Other reasons | بعاد كلي لشركة الاسرار والخابور وجزذ 100)اسم لعدد من الشركا |
| 17 August 2013 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.6 million | $0.6 million | Other reasons | لان مزاد العملة الاجنبية لا يلبي مثل هذه الطلبات |
| 4 February 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.6 million | $9 million | The same customer at more than one bank | الكون و67 اسماء مع المصرف الاحلى ولجاب الوائم كامة |
| 10 June 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.6 million | $16 million | The same customer at more than one bank; The bank's whole request excluded | ل واستبعاد جزني تكر لهيام و,!2)اسم من الانيق رمن حصة المصرف تكرار اسم واحد |
| 10 August 2014 | Elaf Islamic Bank (formerly Barakaat Bank) | $0.6 million | $7.2 million | The same customer at more than one bank; The bank's whole request excluded | استبعاد كلي لشركة الشبل والشمائل لتكرار ماء واستبعاد جزني لتكرار ,!2) اسمم خيال و,!2)اسم من العونا |
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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.