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- Withdrawn at the bank's request$1.27 billion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.
188 rows
| Date | Bank | Refused | Of a request for | Reason | The committee's words |
|---|---|---|---|---|---|
| 29 December 2014 | Iraqi Islamic Bank for Investment & Development | $18.9 million | $18.9 million | Held back for audit | 18,900,000 الاغراض تدايقية |
| 19 June 2013 | Iraqi Islamic Bank for Investment & Development | $17.4 million | $17.4 million | Bank's funds did not cover the request | عدم كفاية رصيد المصرف |
| 23 June 2013 | Iraqi Islamic Bank for Investment & Development | $16.9 million | $16.9 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 4 July 2013 | Iraqi Islamic Bank for Investment & Development | $15.3 million | $15.3 million | Other reasons | لقيام المصرف بأستخدام الختم الجديد بدلأ من الموعد المحدد لأستخدامه في 6/7/2013 |
| undated | Iraqi Islamic Bank for Investment & Development | $15.2 million | $15.2 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 9 June 2013 | Iraqi Islamic Bank for Investment & Development | $15.1 million | $15.1 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف |
| 6 November 2013 | Iraqi Islamic Bank for Investment & Development | $14.9 million | $14.9 million | No reason given, or unreadable | |
| 11 June 2013 | Iraqi Islamic Bank for Investment & Development | $14.4 million | $14.4 million | Missing or faulty documents | لعدم الالتزام بموعد تقديم الطلب |
| 28 May 2013 | Iraqi Islamic Bank for Investment & Development | $14.2 million | $14.2 million | Other reasons | لتقديمه الطلب يوم امس وهذا يخالف جدول استلام الطلبات |
| 20 January 2013 | Iraqi Islamic Bank for Investment & Development | $13.5 million | $13.5 million | Names or details do not match | لاختلاف ختم المصرف وتغيره من شكل بيضوي الى مستطيل دون اعلام اللجنة |
| 21 October 2013 | Iraqi Islamic Bank for Investment & Development | $13.4 million | $13.4 million | Missing or faulty documents | لعدم توقيع الكتب من قبل المدير المفوض |
| undated | Iraqi Islamic Bank for Investment & Development | $12.9 million | $12.9 million | Missing or faulty documents | يستبعد لعدم تقديم السويفتات |
| undated | Iraqi Islamic Bank for Investment & Development | $12.9 million | $12.9 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف لتغطية طلب |
| 16 January 2013 | Iraqi Islamic Bank for Investment & Development | $12.7 million | $12.7 million | Names or details do not match | لاختلاف ختم المصرف |
| 7 January 2014 | Iraqi Islamic Bank for Investment & Development | $12.2 million | $18.1 million | Other reasons | مستوردة المراد التسول الحلم الاجارة على لجازة الاستهرلا وعم رضرح اقمر |
| 4 November 2013 | Iraqi Islamic Bank for Investment & Development | $12.1 million | $14.5 million | Held back for audit | ستبعد تسلسل 2و3و4 في كشف الحوالة لاغراض تدقيقية |
| 24 July 2013 | Iraqi Islamic Bank for Investment & Development | $11.9 million | $11.9 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 28/680 في 23/7/2013 |
| 1 October 2013 | Iraqi Islamic Bank for Investment & Development | $11.8 million | $11.8 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم 1150 في 2013/9/29 |
| undated | Iraqi Islamic Bank for Investment & Development | $11.8 million | $11.8 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب المرقم 28/780 في 13/8/2013 |
| 6 July 2013 | Iraqi Islamic Bank for Investment & Development | $11.7 million | $15.4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب المرقم 28/555 في 6/7/2013 |
| 16 December 2013 | Iraqi Islamic Bank for Investment & Development | $11.6 million | $16.7 million | No reason given, or unreadable | |
| 16 November 2013 | Iraqi Islamic Bank for Investment & Development | $11.6 million | $16.5 million | Held back for audit | تصلمل 1 و3 لافراض تدقيقية |
| 7 July 2013 | Iraqi Islamic Bank for Investment & Development | $11.5 million | $15.2 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | استبعاد الحوالتين 1و2 حسب طلب المصرف بكتابهم 585/28 في 7/7/2013 |
| undated | Iraqi Islamic Bank for Investment & Development | $11.4 million | $11.4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم 1151/28 في 2013/9/29 |
| 23 September 2013 | Iraqi Islamic Bank for Investment & Development | $11.3 million | $11.3 million | Held back for audit | غراض تدقيقية |
| 15 March 2014 | Iraqi Islamic Bank for Investment & Development | $11.2 million | $14.8 million | Customer in breach of anti-money-laundering rules; The bank's whole request excluded; Bank's funds did not cover the request | استبعاد حصة المصرف وشركاته لان ايداع قيد RTGS ى 2014/03/11 مخالف لتعليمات 588 فم 2014/02/06 باصتثناء الشركات التى كانت تتعامل تاريخه ولهذا الاسبوع فقط |
| 24 September 2013 | Iraqi Islamic Bank for Investment & Development | $11.2 million | $11.2 million | Held back for audit | اغراض تدقيقية |
| undated | Iraqi Islamic Bank for Investment & Development | $11.2 million | $18.3 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب المرقم 28/623 في 13/7/2013 |
| 21 July 2013 | Iraqi Islamic Bank for Investment & Development | $11.2 million | $11.2 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف حيث ان الرصيد يبلغ ,11674244) مليار دينار عراقي |
| 29 May 2014 | Iraqi Islamic Bank for Investment & Development | $11.1 million | $17.3 million | No reason given, or unreadable | |
| 15 August 2013 | Iraqi Islamic Bank for Investment & Development | $11 million | $15 million | Penalty on, or suspension of, the bank | حسب كتاب المصرف المرقم 801/28 في 15/8/2013 |
| 26 September 2013 | Iraqi Islamic Bank for Investment & Development | $10.7 million | $14.7 million | Held back for audit | اغراض تدقيقية |
| 14 February 2013 | Iraqi Islamic Bank for Investment & Development | $10.7 million | $10.7 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| undated | Iraqi Islamic Bank for Investment & Development | $10.7 million | $10.7 million | Held back for audit | اغراض تدقيقية |
| 17 February 2013 | Iraqi Islamic Bank for Investment & Development | $10.6 million | $10.6 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 25 September 2013 | Iraqi Islamic Bank for Investment & Development | $10.6 million | $10.6 million | Held back for audit | اغراض تدقيقية |
| undated | Iraqi Islamic Bank for Investment & Development | $10.6 million | $13.2 million | Held back for audit | تسلسل 1 و3 لا غراض تدفيئية |
| 29 June 2013 | Iraqi Islamic Bank for Investment & Development | $10.4 million | $12.8 million | Problem with the import licence | تاريخ اجازة الاستيراد قديم تسلسل ,1,2) |
| 12 February 2013 | Iraqi Islamic Bank for Investment & Development | $10.3 million | $10.3 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد |
| undated | Iraqi Islamic Bank for Investment & Development | $10.2 million | $10.2 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 731/29 في 31/7/2013 |
| undated | Iraqi Islamic Bank for Investment & Development | $10.2 million | $10.2 million | No reason given, or unreadable | |
| 28 September 2013 | Iraqi Islamic Bank for Investment & Development | $10.2 million | $10.2 million | Held back for audit | اغراض تدقيقية |
| undated | Iraqi Islamic Bank for Investment & Development | $10.2 million | $10.2 million | No reason given, or unreadable | |
| 13 February 2013 | Iraqi Islamic Bank for Investment & Development | $10.1 million | $10.1 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 4 April 2013 | Iraqi Islamic Bank for Investment & Development | $9.9 million | $13.9 million | The same customer at more than one bank; Company's activity does not match the goods; Names or details do not match | 1-اختلاف النشاط التجاري للجهة المستفيدة 2- تكرار الفاتورة لاكثر من مصرف |
| 12 September 2013 | Iraqi Islamic Bank for Investment & Development | $9.7 million | $15.3 million | Held back for audit | اغراض تدقيقية |
| 4 February 2014 | Iraqi Islamic Bank for Investment & Development | $9.4 million | $15 million | Held back for audit | ,ت1)لا عراض تدايقية |
| undated | Iraqi Islamic Bank for Investment & Development | $9.4 million | $9.4 million | Bank's funds did not cover the request | البنك كفاية الرصيد للمصرف لتغطية طلب |
| undated | Iraqi Islamic Bank for Investment & Development | $9.4 million | $9.4 million | No reason given, or unreadable | |
| undated | Iraqi Islamic Bank for Investment & Development | $9.4 million | $9.4 million | Held back for audit | لاغراض تدقيقية لتقديمه الحوالة قبل ثا ايام فقط |
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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.