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- Withdrawn at the bank's request$1.27 billion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.
261 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 |
|---|---|---|---|---|---|
| 8 June 2013 | International Development Bank (IDB) | $30.6 million | $30.6 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 4 February 2014 | International Development Bank (IDB) | $29.5 million | $29.5 million | No reason given, or unreadable | |
| 2 February 2014 | International Development Bank (IDB) | $21.6 million | $21.6 million | Held back for audit | الاغراض تدليقية |
| 6 June 2013 | International Development Bank (IDB) | $20 million | $24 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف لعدم كفاية رصيد المصرف |
| 17 May 2014 | International Development Bank (IDB) | $19.4 million | $19.4 million | Names or details do not match; Penalty on, or suspension of, the bank | النقد والحوالة استبعاد لاختلاف اسم لامذكرة الصيرفة المرقمة 19,392,000 المدير المفو إ1985 في 2014/5/17 |
| 16 September 2013 | International Development Bank (IDB) | $19 million | $19 million | Missing or faulty documents | لعدم وجود توقيع المدير المفوض على استمارة الشراء وقد ابلغ المصرف وتفهم السبب |
| 24 September 2013 | International Development Bank (IDB) | $18 million | $29.6 million | The same customer at more than one bank; Held back for audit | 1-تكرار الاسماء في كشوفات الزبائن المقدمة للنقد 2-تسلسل 1و3و4و6و8و9و10و11 لاغراض تدقيقية |
| 20 June 2013 | International Development Bank (IDB) | $17.7 million | $17.7 million | Withdrawn at the bank's request | حسب طلب المصرف |
| 24 June 2013 | International Development Bank (IDB) | $16.8 million | $16.8 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 21 July 2013 | International Development Bank (IDB) | $15.5 million | $15.5 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 350 في 21/7/2013 |
| 29 June 2013 | International Development Bank (IDB) | $15.2 million | $15.2 million | Withdrawn at the bank's request | حسب طلب المصرف |
| undated | International Development Bank (IDB) | $14.5 million | $14.5 million | Other reasons | البنه كفاية رصيد المصرف لتغطية طلب |
| 28 May 2013 | International Development Bank (IDB) | $13.7 million | $17.7 million | Bank's funds did not cover the request; Missing or faulty documents | ستبعاد الحوالة لعدم كفاية رصيد المصرف |
| undated | International Development Bank (IDB) | $13.1 million | $28.9 million | Company's activity does not match the goods; Names or details do not match; Withdrawn at the bank's request | 2-استبعاد مبلغ ,!1542) حسب طلب المصرف ذو العدد 344 في 18/7/2013 تسلسل !1) في كشف الحوالات 3- استبعاد مبلغ ,!225) تسلسل ,7) في كشف الحوالات ,لاختلاف نشاط المستفيد) |
| 8 October 2013 | International Development Bank (IDB) | $12.2 million | $16 million | The same customer at more than one bank; Missing or faulty documents | متبعدت الحوالة لعدم تقديم معلومات السويفت ستبعد من النقد لتكرار الاسماء مع مصرف الرشيد |
| undated | International Development Bank (IDB) | $11.9 million | $18.1 million | Held back for audit | الاغراض تدقيقية من النقد والحوالة |
| 15 December 2013 | International Development Bank (IDB) | $11.7 million | $20.8 million | Other reasons | 11,651,000 من انرة |
| 7 October 2013 | International Development Bank (IDB) | $11.6 million | $11.6 million | Missing or faulty documents | عدم تقديم معلومات السويفت |
| 3 October 2013 | International Development Bank (IDB) | $11.4 million | $11.4 million | Held back for audit | اغراض تدقيقية |
| 7 January 2014 | International Development Bank (IDB) | $11.3 million | $21.4 million | Other reasons | 0 الغرمة الية السيوئة |
| 5 October 2013 | International Development Bank (IDB) | $11.3 million | $15.2 million | The same customer at more than one bank; Penalty on, or suspension of, the bank | -حسب كتاب المصرف المرقم 604 في يوم 013/10/3! 2-استبعد من النقد لتكرار اسم مع مصرف اشو |
| undated | International Development Bank (IDB) | $10.9 million | $14.8 million | Held back for audit | من الحوالة استبعاد جزء من ,ت 1وت2) لا غيراض تدقيقية من النقد لاغراض تدقيقية |
| 26 March 2013 | International Development Bank (IDB) | $10.8 million | $14.8 million | Missing or faulty documents | لعدم وجود تسلسل الاستمارة |
| 26 October 2013 | International Development Bank (IDB) | $10.7 million | $13 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | ستبعد من الحوالة تسلسل 1 : 4 حسب طلب المصرف بكتابه المرقم 679 في أ استبعد النقد لان تاريخ الكتاب المرفق والمرقم 672 في 2013/10/3 والمفروض يكون في 2013/10/26 |
| undated | International Development Bank (IDB) | $10.7 million | $22.5 million | Held back for audit | من الحوالة(ت1وت5) لاغراض تدقيقية |
| 5 February 2013 | International Development Bank (IDB) | $10.6 million | $10.6 million | Other reasons | تاريخ الاستمارة قديم |
| 25 February 2013 | International Development Bank (IDB) | $10.5 million | $11.1 million | Customer in breach of anti-money-laundering rules | لتعليمات غسيل الاموال |
| 21 February 2013 | International Development Bank (IDB) | $10.2 million | $10.2 million | Other reasons | مبلغ الاستمارة اكبر من البلغ المثبت في كشف الحوالة |
| 4 February 2013 | International Development Bank (IDB) | $10.1 million | $10.1 million | Other reasons | التنفيذي |
| undated | International Development Bank (IDB) | $9.7 million | $21.4 million | No reason given, or unreadable | |
| undated | International Development Bank (IDB) | $9.7 million | $23.5 million | No reason given, or unreadable | |
| undated | International Development Bank (IDB) | $9.3 million | $9.3 million | No reason given, or unreadable | |
| 30 October 2013 | International Development Bank (IDB) | $9.1 million | $13 million | The same customer at more than one bank; Missing or faulty documents | استبعدت الحوالة لعدم وجود اسم المدير المفوض وكالة على استمارة الشراء من النقد لتكرار 11 اسم مع مصارف الاقتصاد والموصل والاهلي |
| 2 October 2013 | International Development Bank (IDB) | $9 million | $13 million | Held back for audit | تسلسل1 و 5 و 7 و9 في كشف الحوالة لاغراض تدقيقية |
| undated | International Development Bank (IDB) | $9 million | $9 million | No reason given, or unreadable | |
| 6 October 2013 | International Development Bank (IDB) | $9 million | $9 million | Missing or faulty documents | عدم تقديم معلومات السويفت |
| 30 January 2014 | International Development Bank (IDB) | $9 million | $16.2 million | Penalty on, or suspension of, the bank | ت1وت2وت3) حب كتاب المسرف، رقم 11-1 |
| undated | International Development Bank (IDB) | $8.8 million | $15.6 million | Held back for audit | نسلسل 1 و2 و3و 6 لاغراض تدقيقية |
| undated | International Development Bank (IDB) | $8.7 million | $19.1 million | Held back for audit | 4,80)لاغراض تدقيقي03 4 |
| 1 February 2014 | International Development Bank (IDB) | $8.6 million | $21.6 million | Other reasons | تف المركم 14- |
| 9 October 2013 | International Development Bank (IDB) | $8.6 million | $9.1 million | Held back for audit | اغراض تدقيقية |
| 1 October 2013 | International Development Bank (IDB) | $8.6 million | $14.8 million | Held back for audit | 1-تسلسل 1 ,اغراض تدقيقية ) 3. استبل التل لعام توليح المجارة من عيل مامة بلمسفرن) |
| 25 September 2013 | International Development Bank (IDB) | $8.4 million | $12.8 million | Held back for audit | لتسلسل 1 و2و 5 و 6 في كشف الحوالات لاغراض تدقيقية |
| 6 August 2013 | International Development Bank (IDB) | $8.4 million | $20.6 million | Held back for audit | 6/8/2013 تسلسل !7,8) 2-تم استبعاد مبلغ !4959000) دولار لاغراض تدقيقية تسلسل !2) |
| 19 February 2013 | International Development Bank (IDB) | $8.4 million | $14.6 million | Problem with the import licence | المستوردة عن المادة المثبتة في اجازة الاستيراد |
| undated | International Development Bank (IDB) | $8.3 million | $35.3 million | The bank's whole request excluded; Missing or faulty documents | متبعاد حصة المصرف لعدم مطابقة قوائم البيع م خر حصة بيع ومن الشركات ابشعد كلي لشرك احر اد شركت الفوز معو الستبة. |
| 16 December 2013 | International Development Bank (IDB) | $8.2 million | $22.9 million | No reason given, or unreadable | |
| 16 December 2013 | International Development Bank (IDB) | $8.1 million | $20.9 million | Held back for audit | 7 تؤجل لاغراض تدقراية 8,083,000 صصل 1 د4 |
| undated | International Development Bank (IDB) | $8.1 million | $21.4 million | Other reasons | تماسل وكو |
| undated | International Development Bank (IDB) | $8 million | $8 million | Held back for audit | يوجل لاغراض تدقيقية |
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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.