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- Withdrawn at the bank's request$1.27 billion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.
239 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 |
|---|---|---|---|---|---|
| 6 June 2013 | National Islamic Bank | $21.9 million | $40 million | Duplicate or reused invoice | لاستخدام الفاتورة لاكثر من طلب تحويل تسلسل ,5) |
| 28 July 2013 | National Islamic Bank | $18.9 million | $18.9 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف حيث ان الرصيد يبلغ 14742655000 دينار |
| undated | National Islamic Bank | $18 million | $18 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | 1-حسب طلب المصرف ذو الكتاب المرقم 2764 في 7/8/2013 2-حسب كتاب مديرية الصيرفة المرقم 9/2/9855 في 7/8/2013 |
| undated | National Islamic Bank | $17.5 million | $17.5 million | Penalty on, or suspension of, the bank | استنادا الى كتاب مديرية الصيرفة المرقم 9855 في 7/8/2013 |
| 22 May 2013 | National Islamic Bank | $16.8 million | $16.8 million | Other reasons | عدم مطابقة المبلغ المطلوب مع مبلغ الكشف |
| 24 November 2013 | National Islamic Bank | $16.6 million | $16.6 million | Other reasons | 2011 37 ة ال ين 11/10 |
| 21 July 2013 | National Islamic Bank | $16.2 million | $16.2 million | No reason given, or unreadable | |
| 9 June 2013 | National Islamic Bank | $15.6 million | $15.6 million | Withdrawn at the bank's request | حسب طلب المصرف المرفق نسخة منه ذو العدد 1813 في 9-6-2013 |
| undated | National Islamic Bank | $15.5 million | $15.5 million | Other reasons | 0 افي ة 11 ا204ي الامتتل المدرج لمسحه في مذارة الص |
| undated | National Islamic Bank | $13.7 million | $13.7 million | Bank's funds did not cover the request; Missing or faulty documents | 13,704,000 العدم ارفاقه ال RTGS ليوم 2014/03/08 |
| 28 May 2013 | National Islamic Bank | $13.6 million | $16.9 million | Other reasons | لتجزنة الفاتورة وهذا يخالف التعليمات تسلسل |
| undated | National Islamic Bank | $13 million | $17.3 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب المرقم 2764 في 7/8/2013 |
| undated | National Islamic Bank | $12.8 million | $12.8 million | Names or details do not match; Penalty on, or suspension of, the bank | لاختلاف كتابة المبلغ رقما وكتابه في استمارة لشراء على كتب المصرف |
| undated | National Islamic Bank | $12.4 million | $15.7 million | No reason given, or unreadable | |
| undated | National Islamic Bank | $12.2 million | $19.9 million | Other reasons | (تقوت7) لاغراش تدقوت فى 014/01/21. |
| 5 April 2014 | National Islamic Bank | $12.2 million | $17.6 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | لحوالة بموجب طلب المصرف بكتابه المرقم دول م/97 في. 2014/4/2 |
| 16 March 2014 | National Islamic Bank | $12 million | $12 million | Other reasons | التقديمة قيد TGS ن طلب الشراء لهذا اليوم |
| 23 October 2013 | National Islamic Bank | $11.9 million | $11.9 million | Penalty on, or suspension of, the bank | لاف مجموع الكتابين المرقمين 3699 و 3700 المؤرخين في 2013/10/23 : مذكور في كشف الحو |
| 9 January 2013 | National Islamic Bank | $11.5 million | $12.5 million | Names or details do not match; Penalty on, or suspension of, the bank | لاختلاف المبلغ رقما وكتابة في كتاب التحويل |
| 3 June 2013 | National Islamic Bank | $11.1 million | $11.1 million | Missing or faulty documents | لعدم الالتزام بالجدول الاسبوعي |
| undated | National Islamic Bank | $10.9 million | $14.4 million | Problem with the import licence; Penalty on, or suspension of, the bank | - عدم كتابة مبلغ التحويل كتابة فقط رقه 2013/3/14 باعادة العمل باجازة الاستيراد ولا يوجد اعفاء |
| 22 January 2014 | National Islamic Bank | $10.7 million | $19.8 million | Held back for audit | (1وت 7) لاغراض تدقريي) رقم 245 فى 12014/0 1/15اب المصرف بكت |
| 7 January 2014 | National Islamic Bank | $10.2 million | $19.8 million | No reason given, or unreadable | |
| 21 February 2013 | National Islamic Bank | $10.2 million | $14.2 million | Other reasons | كونها لاغراض اعتمادات وبدون سويفتات |
| undated | National Islamic Bank | $9.4 million | $27.6 million | The same customer at more than one bank; Bank's funds did not cover the request; Missing or faulty documents | والنقد لتكرار !4) اسم من حصة المصر ن الحوالة لعدم كفاية رصيد الTGS |
| undated | National Islamic Bank | $9.3 million | $20.4 million | Other reasons | ترخر تي4! بزج في لوافت الحاضر الالغراض ال ارجارة |
| undated | National Islamic Bank | $9.3 million | $19.3 million | Held back for audit; Timing or procedure | !ت1و4و8) تؤجل في الوقت الحاضر لاغراض تدقيقية |
| 20 January 2014 | National Islamic Bank | $9.2 million | $18.4 million | Held back for audit; Penalty on, or suspension of, the bank | ,تكوت9) حسب كتاب المصرف المرقم دولي/248 ,ت3رت5) لاغراض تدفيقية |
| 28 December 2013 | National Islamic Bank | $9.1 million | $18.9 million | Other reasons | ملسل 8 |
| 15 January 2013 | National Islamic Bank | $8.8 million | $13.1 million | Missing or faulty documents | الحوالة مبالغ الفواتير نفذت سابقا وعدم وجود ختم المصرف على كشوفات شركة التحويل المالي |
| 27 February 2013 | National Islamic Bank | $8.6 million | $10.6 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 26 February 2013 | National Islamic Bank | $8.5 million | $10.5 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال 1-وجود زبون مخالف لتعليمات غسيل الاموال |
| 24 February 2013 | National Islamic Bank | $8.5 million | $10.8 million | Customer in breach of anti-money-laundering rules; Company's activity does not match the goods; Names or details do not match | 2-اختلاف البضاعة المستوردة عن نشاط الشركة 1-وجود زبون مخالف لتعليمات غسيل الاموال |
| 6 March 2014 | National Islamic Bank | $8 million | $23.2 million | No reason given, or unreadable | |
| 20 June 2013 | National Islamic Bank | $8 million | $21.9 million | No reason given, or unreadable | |
| undated | National Islamic Bank | $7.6 million | $11.9 million | Held back for audit | ستبعاد جزني للحوالة لاغراض تدقيقية |
| undated | National Islamic Bank | $7.4 million | $26.6 million | No reason given, or unreadable | |
| 12 March 2013 | National Islamic Bank | $7.3 million | $10 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 8 April 2013 | National Islamic Bank | $7.3 million | $9.5 million | Old or invalid invoice; Held back for audit; Penalty on, or suspension of, the bank | الحوالات وكتاب التحويل 1- تاريخ الفاتورة قديم 2-لاغراض تدقيقية |
| 9 December 2013 | National Islamic Bank | $7.3 million | $15.2 million | Other reasons | 7,327.000 :نشل 3و |
| undated | National Islamic Bank | $7.3 million | $12.8 million | The bank's whole request excluded; Held back for audit | ن الحوالة لاغراض تدقيق من النقد استبعاد كلي لشركة السرا. إلاغراض تدفيقية |
| 18 May 2014 | National Islamic Bank | $7.3 million | $16.7 million | Penalty on, or suspension of, the bank | ت7وت11وت12وت13وت14وت15وت16و ت17وت18) تستبعد بموجب كتاب المصرف المرقم م/216في 2014/5/12 |
| 27 July 2013 | National Islamic Bank | $7.1 million | $17 million | Other reasons | الحوالات |
| undated | National Islamic Bank | $6.9 million | $15.4 million | Held back for audit | مرقم 4044 في ساصيل 1 في كشك الحوالة حب عام تمل 4 و7و 9 لاخراض تدايقية |
| 11 March 2013 | National Islamic Bank | $6.8 million | $10 million | Customer in breach of anti-money-laundering rules; Held back for audit | 1- وجود زبون مخالف لتعليمات غسيل الاموال 2-لاغراض تدقيقية برقم وتاريخ الفاتورة |
| undated | National Islamic Bank | $6.8 million | $12.8 million | Other reasons | د للنسلل !,ت7و8و9و10و 11و12) المصرف المرقع دولي /م |
| 12 June 2014 | National Islamic Bank | $6.8 million | $27.3 million | The bank's whole request excluded | الشركة التية والولو اكر لاء واسب م حصة الشركات ومن حصة المصرف لتك مون الموالة حسب بطلب المصوف 373 فى 2014/2/8 |
| 14 March 2013 | National Islamic Bank | $6.7 million | $14 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| 28 February 2013 | National Islamic Bank | $6.7 million | $10.7 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 19 February 2013 | National Islamic Bank | $6.6 million | $10.8 million | Customer in breach of anti-money-laundering rules; Names or details do not match; Held back for audit | لوجود زبون مخالف لتعليمات غسيل الاموال 1- لاغراض تدقيقية 2-اختلاف المادة |
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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.