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- Withdrawn at the bank's request$1.27 billion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.
145 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 |
|---|---|---|---|---|---|
| 19 June 2013 | Kurdistan International Islamic Bank for Investment & Development | $25.3 million | $31.3 million | Withdrawn at the bank's request | حسب طلب المصرف |
| undated | Kurdistan International Islamic Bank for Investment & Development | $25.3 million | $28.5 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 984/ادارة/226 في 20/7/2013 |
| undated | Kurdistan International Islamic Bank for Investment & Development | $18.7 million | $18.7 million | No reason given, or unreadable | |
| 2 January 2013 | Kurdistan International Islamic Bank for Investment & Development | $15 million | $15 million | Other reasons | المزاد لايغطي اجور الخدمات وجود العبارة في كشف الحولات |
| 9 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $13.3 million | $14.3 million | Missing or faulty documents; Held back for audit | ستبعد من مبلغ الحوالة تسلسل !1 و 3) لاغراض تدقيقي ستبعد النقد لعدم توقيع الاستمارة والكتب المرفقة من قبل المدير المفوض للمصرف |
| 14 September 2014 | Kurdistan International Islamic Bank for Investment & Development | $12.2 million | $12.2 million | Held back for audit | 12,178,000 الاغراض تدقيقية |
| undated | Kurdistan International Islamic Bank for Investment & Development | $11.8 million | $23.8 million | No reason given, or unreadable | |
| undated | Kurdistan International Islamic Bank for Investment & Development | $11 million | $11 million | Other reasons | ورود الطلب بعد الساعة الواحدة من ظهر هذا اليوم |
| undated | Kurdistan International Islamic Bank for Investment & Development | $10.8 million | $10.8 million | Missing or faulty documents; Held back for audit | ستبعدت الحوالة لاغراض تدقيقية استبعد النقد لعدم وجود موافقة الصيرفة على المخول بالتوقيع / فرع بغداد |
| undated | Kurdistan International Islamic Bank for Investment & Development | $10.4 million | $10.4 million | Other reasons | التلل اخر م تايارة وتواجن فى الوات العار |
| 5 March 2013 | Kurdistan International Islamic Bank for Investment & Development | $10.3 million | $10.3 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 4 March 2013 | Kurdistan International Islamic Bank for Investment & Development | $10 million | $10 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 20 March 2013 | Kurdistan International Islamic Bank for Investment & Development | $10 million | $14 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 1 April 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.9 million | $9.9 million | Held back for audit | لاغراض تدقيقية تتعلق برقم وتاريخ الفاتورة |
| 3 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.7 million | $9.7 million | Old or invalid invoice; Problem with the import licence; Held back for audit | 1-تسلسل 1 في كشف الحوالة لتجاوز مبلغ الاجازة 2-تسلسل 2 و 3 لاغراض تدقيقية |
| 17 February 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.7 million | $9.7 million | Missing or faulty documents; Held back for audit | لاغراض تدقيقية 1-تاريخ الاقرار قديم 2-لعدم ادراج جمي |
| 19 February 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.7 million | $9.7 million | Customer in breach of anti-money-laundering rules; Missing or faulty documents | لوجود زبون مخالف لتعليمات غسيل الاموال وجود فاتورة منتهية المدة 2-عدم وجود رقم |
| 7 April 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.7 million | $9.7 million | Held back for audit | لاغراض تدقيقية تتعلق برقم وتاريخ الفاتورة |
| 13 January 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.6 million | $9.6 million | Other reasons | - كتب التحويل تحمل نفس العدد والتاري |
| 12 January 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.4 million | $18.6 million | Other reasons | لكون تاريخ الفاتورة قبل تاريخ فتح الاعتماد |
| 15 January 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.4 million | $9.4 million | Missing or faulty documents | لعدم تقديم الفاتورة الاساسية |
| undated | Kurdistan International Islamic Bank for Investment & Development | $9.2 million | $14.1 million | Held back for audit | إلاغراض تدقيقية |
| 10 January 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.1 million | $9.1 million | Names or details do not match | لاختلاف تاريخ فتح الاعتماد في سويفت المصرف عن الكشف المقدم |
| 28 December 2013 | Kurdistan International Islamic Bank for Investment & Development | $8.8 million | $14.7 million | Other reasons | م الفلا لنظر 16 سم مع مصارف العو |
| 8 June 2014 | Kurdistan International Islamic Bank for Investment & Development | $8.8 million | $8.8 million | Other reasons | لتقديمه طلب الشراء بايداعات مستبعدة لايام سابقة |
| 18 February 2013 | Kurdistan International Islamic Bank for Investment & Development | $8.4 million | $8.4 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 15 December 2014 | Kurdistan International Islamic Bank for Investment & Development | $8.4 million | $8.4 million | Held back for audit | لاغراض تدقيقية |
| undated | Kurdistan International Islamic Bank for Investment & Development | $8.4 million | $8.4 million | Held back for audit | لاغراض تدقيقية |
| 27 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $8.3 million | $8.3 million | Other reasons | دم وجود اسماء الموقعين على استمارة الشراء وطلب التحوتة ااصيرفة على توة هولاء الموقعين ادناه |
| 27 February 2013 | Kurdistan International Islamic Bank for Investment & Development | $8.3 million | $12.3 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 4 December 2013 | Kurdistan International Islamic Bank for Investment & Development | $8.3 million | $24.2 million | Other reasons | إمن الحوقة تتفسل 2 دة للبر هوم المبنع تلس توسون على إن تقم لاحة ارغيد |
| 25 March 2013 | Kurdistan International Islamic Bank for Investment & Development | $8.1 million | $8.1 million | Duplicate or reused invoice | رقم الفاتورة مكرر |
| 7 January 2014 | Kurdistan International Islamic Bank for Investment & Development | $8.1 million | $12.1 million | Missing or faulty documents; Held back for audit | ال ,ت3) اغراض تاهقية تزول فى الوقت الحاض لوجود مستي - ,1! لعدم رضوح الاجاتزة |
| 17 March 2013 | Kurdistan International Islamic Bank for Investment & Development | $8 million | $8 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| undated | Kurdistan International Islamic Bank for Investment & Development | $8 million | $8 million | Other reasons | 8,000,000 جارز ممنغ ال3جرا |
| undated | Kurdistan International Islamic Bank for Investment & Development | $7.8 million | $13.7 million | No reason given, or unreadable | |
| 5 September 2013 | Kurdistan International Islamic Bank for Investment & Development | $7.7 million | $7.7 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 258 في 2013/9/5 |
| 29 September 2013 | Kurdistan International Islamic Bank for Investment & Development | $7.7 million | $15.1 million | Held back for audit | تسلسل 1 و2 في كشف الحوالة لاغراض تدقيقية |
| undated | Kurdistan International Islamic Bank for Investment & Development | $7.4 million | $7.4 million | Other reasons | 201 3/19/17 مرهفي الامتال امتارة الصيرفة والانمان لمرهة 3667 غي |
| 18 March 2013 | Kurdistan International Islamic Bank for Investment & Development | $7.3 million | $7.3 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| undated | Kurdistan International Islamic Bank for Investment & Development | $7.3 million | $10.1 million | Problem with the import licence; Licence issued in the Kurdistan Region; Ministry of Trade letter | أوذلك انه اعلمئنا وزارة التجارة ان اجازات الاستّيراد لصادرة من اقليم كردستان غير معتمدة ماعد والخلمات التجارية المراقيكة العامة للمعارض |
| 8 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $7.2 million | $7.2 million | Held back for audit | لاغراض تدقيقية |
| 2 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $7 million | $13 million | The same customer at more than one bank | 2-استبعد من مبلغ النقد لتكرار الاسماء مع نفس المصرف ومع شركة الاعظمية التابعة لمصرف الرشيد |
| 17 September 2013 | Kurdistan International Islamic Bank for Investment & Development | $6.8 million | $6.8 million | Held back for audit | اغراض تدقيقية |
| 12 September 2013 | Kurdistan International Islamic Bank for Investment & Development | $6.8 million | $7.7 million | Held back for audit | اغراض تدقيقية |
| 7 December 2014 | Kurdistan International Islamic Bank for Investment & Development | $6.7 million | $6.7 million | Held back for audit | 6,700,000 لاغراض تدقيقية |
| 16 December 2014 | Kurdistan International Islamic Bank for Investment & Development | $6.7 million | $9.5 million | Held back for audit | استبعاد ,ت1)لاغراض تدقيقية |
| 22 August 2013 | Kurdistan International Islamic Bank for Investment & Development | $6.7 million | $6.7 million | Problem with the import licence; Names or details do not match | 1-تجاوز المبلغ في اجازة الاستيراد 2-اختلاف المادة المستوردة عن ما مثبت في الفاتورة |
| 1 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $6.4 million | $6.4 million | Missing or faulty documents | لعدم تقديم معلومات السويفت |
| undated | Kurdistan International Islamic Bank for Investment & Development | $6.3 million | $6.3 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب المرقم 984/ادارة/237 في 8/8/2013 |
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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.