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- Withdrawn at the bank's request$1.27 billion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.
183 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 |
|---|---|---|---|---|---|
| 7 October 2013 | Gulf Commercial Bank | $17.8 million | $21.8 million | The same customer at more than one bank; Missing or faulty documents | 1-استبعدت الحوالة لعدم تقديم معلومات السويفت 2-استبعد من النقد لتكرار اسماء ضمن قوائم المصرف نفسه وتكرار اسماء مع مصرف اشور |
| 28 September 2013 | Gulf Commercial Bank | $17.8 million | $21.8 million | The same customer at more than one bank; Missing or faulty documents | 1-تكرار اسماء مع مصارف اميرائد وقانمة فرع الاعظمية وتسلسل رقم (1) في قانمة فرع الكرادة استبعدت الحوالة لعدم توقيع المعاملة من قبل المدير المفوض |
| 16 June 2014 | Gulf Commercial Bank | $17.7 million | $33.9 million | Other reasons | من الحوالتلكون الاشعار مودع قبل 6 ايا. |
| 16 November 2013 | Gulf Commercial Bank | $17 million | $25.2 million | No reason given, or unreadable | |
| 31 December 2014 | Gulf Commercial Bank | $16.3 million | $16.3 million | Held back for audit | لاغراض تدقيقية |
| 10 November 2013 | Gulf Commercial Bank | $15.6 million | $27.2 million | Other reasons | 15,575,000 لصلسل 1 و3 و4 لاكراض تنقهية |
| 30 October 2013 | Gulf Commercial Bank | $15.2 million | $29.7 million | Problem with the import licence; Names or details do not match; Held back for audit | متبعد تسلسل 1 لاختلاف اسم الزبون في الاجازة متبعد تسلسل 5و6 لاغراض تدقيقد |
| 19 November 2013 | Gulf Commercial Bank | $14.8 million | $23.4 million | Other reasons | اتسلسل ف لاغر ت الالة لتحميل اسم الأبون يخط اليها |
| 26 October 2013 | Gulf Commercial Bank | $14.6 million | $18.6 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم ح.خ.دولي/1137 في 2013/10/21 |
| undated | Gulf Commercial Bank | $14.1 million | $20.7 million | No reason given, or unreadable | |
| 1 April 2013 | Gulf Commercial Bank | $13.9 million | $13.9 million | Penalty on, or suspension of, the bank | لوجود عقوبة بمنعه من دخول المزاد لمدة شهر |
| 30 May 2013 | Gulf Commercial Bank | $13.6 million | $13.8 million | Duplicate or reused invoice | لاستخدام الفاتورة لأكثر من طلب تحويل تسلسل ,!5) |
| undated | Gulf Commercial Bank | $13.5 million | $17.5 million | Other reasons | 870 20150 2 بك ت580 في 2014/03/8 مخالف |
| 28 May 2013 | Gulf Commercial Bank | $13.2 million | $13.2 million | Other reasons | لتجزئة الفاتورة وهذا يخالف التعليمات |
| undated | Gulf Commercial Bank | $13 million | $41.1 million | The same customer at more than one bank; The bank's whole request excluded; Missing or faulty documents | حصة المصرف لتكرار ,25)اسم كات استبعاد حصة الشركات لعدم الت بتعليمات الاقرار الجديد |
| 29 January 2013 | Gulf Commercial Bank | $13 million | $13 million | Customer in breach of anti-money-laundering rules | لمخالفة الزبون لتطيمات غسيل الاموال |
| 22 May 2013 | Gulf Commercial Bank | $12.8 million | $12.8 million | No reason given, or unreadable | |
| undated | Gulf Commercial Bank | $12.6 million | $18.5 million | Held back for audit | استبعاد جزئي للحوالة لاغراض تدقيقية |
| undated | Gulf Commercial Bank | $12.5 million | $18.9 million | No reason given, or unreadable | |
| 26 February 2013 | Gulf Commercial Bank | $12.3 million | $12.3 million | Other reasons | :- يقدم يوم الاثنين من كل اسبو. |
| 5 September 2013 | Gulf Commercial Bank | $12 million | $12 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد |
| 18 November 2013 | Gulf Commercial Bank | $11.4 million | $28.3 million | Other reasons | فى الرئيس للمح |
| 15 December 2013 | Gulf Commercial Bank | $11.2 million | $21 million | Other reasons | لسلسل فو5 لاغر اض سجنة مكتههم اتعرهم 1335 في 2013/12/41 |
| 11 February 2013 | Gulf Commercial Bank | $11.2 million | $11.2 million | Customer in breach of anti-money-laundering rules | وجود زبونين مخالفين لتعليمات غسيل الاموال |
| 19 February 2013 | Gulf Commercial Bank | $11 million | $11 million | Penalty on, or suspension of, the bank | تاريخ كتاب التحويل قديم |
| 21 February 2013 | Gulf Commercial Bank | $11 million | $11 million | Other reasons | عدة مصارف |
| 23 November 2013 | Gulf Commercial Bank | $11 million | $22.2 million | Other reasons | من انه الرار الاتماء مع مصرف الإضء الى ولاض السلاسي |
| undated | Gulf Commercial Bank | $10.7 million | $21.1 million | No reason given, or unreadable | |
| 6 November 2013 | Gulf Commercial Bank | $10.6 million | $21.2 million | Held back for audit | 10,567,000 تململ 1 و4 لا غراض تدقراية |
| undated | Gulf Commercial Bank | $10.5 million | $18.4 million | Held back for audit | : ,ت 1وت 2وت4) لاغراض. تدايقية |
| 7 January 2014 | Gulf Commercial Bank | $10.5 million | $18.4 million | No reason given, or unreadable | |
| undated | Gulf Commercial Bank | $10.5 million | $16.6 million | Held back for audit | لاغراض تدقيقية من النقد والحوالة |
| 19 September 2013 | Gulf Commercial Bank | $10.4 million | $21.1 million | Held back for audit | تسلسل 1 و3 لاغراض تدقيقية |
| undated | Gulf Commercial Bank | $10.4 million | $25.2 million | Held back for audit | تسلصل 4 و5 لا غراض تدقرفية |
| 5 March 2013 | Gulf Commercial Bank | $10.3 million | $10.3 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 17 November 2013 | Gulf Commercial Bank | $10.3 million | $25.7 million | No reason given, or unreadable | |
| 16 December 2013 | Gulf Commercial Bank | $10.2 million | $19.6 million | Other reasons | لضل مسب الهى الشرت بيم 1936 فى 2013/12/9 |
| 27 March 2013 | Gulf Commercial Bank | $9.9 million | $9.9 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 24 March 2013 | Gulf Commercial Bank | $9.9 million | $9.9 million | Missing or faulty documents | لعدم وجود ختم المصرف على كشف الحوالات |
| 25 March 2013 | Gulf Commercial Bank | $9.9 million | $13.9 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 29 December 2014 | Gulf Commercial Bank | $9.8 million | $12.1 million | The same customer at more than one bank; Held back for audit | مبلغ !9200)لاغراض تدقيقية الاوتار والجنوب والاعتماد واستبعاد جزني لتكرار ,1!اسم من السلوى |
| 3 March 2013 | Gulf Commercial Bank | $9.8 million | $9.8 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 17 March 2013 | Gulf Commercial Bank | $9.6 million | $9.6 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 20 March 2013 | Gulf Commercial Bank | $9.6 million | $9.6 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 21 May 2013 | Gulf Commercial Bank | $9.4 million | $18.8 million | The same customer at more than one bank | لتكراره تقديم الطلب مرتين بنفس الكمية تم قبول احد الطلبيز واستبعاد الاخر |
| 4 November 2013 | Gulf Commercial Bank | $9.2 million | $29.9 million | Held back for audit | تبعد من الحوالة تسلسل 2 و 5 لاغراض تدقيق واشور |
| 18 September 2013 | Gulf Commercial Bank | $9.1 million | $20.7 million | Held back for audit | تسلسل ,2 و 3) في كشف الحوالات لاغراض تدقيقية |
| 28 February 2013 | Gulf Commercial Bank | $9 million | $14.4 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 27 February 2013 | Gulf Commercial Bank | $8.9 million | $8.9 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| undated | Gulf Commercial Bank | $8.7 million | $19 million | Other reasons | يستيعد لنفس (لذ |
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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.