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- Withdrawn at the bank's request$1.27 billion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.
157 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 |
|---|---|---|---|---|---|
| 28 December 2014 | National Bank of Iraq (NBI) | $13.4 million | $13.4 million | Held back for audit | 13,356,000 إلاعراض تدقيقية |
| 3 June 2014 | National Bank of Iraq (NBI) | $12.2 million | $23.8 million | The same customer at more than one bank; Ministry of Trade letter; Penalty on, or suspension of, the bank | ن النقد لتكرار ,6) اسماء من حصة المصرة بموجب كتاب وزارة التجارة واشركة العامة المعارض والخدمات /قسم الاستيراد المرقم 3320 في |
| 2 January 2013 | National Bank of Iraq (NBI) | $11.7 million | $11.7 million | Missing or faulty documents | لعدم وجود ختم المصرف على اقرار المصرف للحوالات |
| 23 June 2013 | National Bank of Iraq (NBI) | $11 million | $11 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال راس مال المصرف الى 150 مليار |
| 22 January 2013 | National Bank of Iraq (NBI) | $10.5 million | $18.9 million | Missing or faulty documents | النقد لعدم توقيع كشف النقد من قبل مخولين اثنين |
| 14 April 2014 | National Bank of Iraq (NBI) | $10.1 million | $16.4 million | The same customer at more than one bank; Held back for audit | من النقد لتكرار ,19)اسم مع مصرف ايلاف 10,095,000 أونفس قوانم انمصرف إمن الحوالة لا غراض تدقيقية |
| 15 May 2014 | National Bank of Iraq (NBI) | $10 million | $10 million | No reason given, or unreadable | |
| 11 February 2013 | National Bank of Iraq (NBI) | $10 million | $10.9 million | Customer in breach of anti-money-laundering rules | وجود زبائن مخالفين لتعليمات غسيل الاموال |
| undated | National Bank of Iraq (NBI) | $9.5 million | $17.5 million | The same customer at more than one bank | من النقد لتكرار ,!4)اسماء مع التنمية وايلاف الحوالة لتقديمه الطلب بفرق يوم وعده التزامه بالتعليمات 588 في 2014/02/16 |
| 2 September 2014 | National Bank of Iraq (NBI) | $8.4 million | $18.4 million | The same customer at more than one bank; The bank's whole request excluded | الحوالة حسب طلب المصرث المرقم 4447 في 2014/08/31 من النقد لتكرار ,!2)اسم من حصة المصرف |
| 14 February 2013 | National Bank of Iraq (NBI) | $8.3 million | $8.8 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 25 August 2014 | National Bank of Iraq (NBI) | $8.1 million | $16.7 million | Held back for audit; Penalty on, or suspension of, the bank | استبعاد ,!ت1)حسب كتاب المصرف المرقم 4223 و %(ت2و 3)لاغراض تدقيقية |
| 24 June 2013 | National Bank of Iraq (NBI) | $7.7 million | $7.7 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار دينار |
| 9 November 2014 | National Bank of Iraq (NBI) | $7.6 million | $7.6 million | Bank's funds did not cover the request; Missing or faulty documents | 7,594,000 استبعاد كامل لعدم كفاية رصيد قيد RTGS |
| 26 June 2013 | National Bank of Iraq (NBI) | $7.2 million | $7.2 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال راس مال المصرف الى 150 مليار دينار |
| 2 June 2014 | National Bank of Iraq (NBI) | $6.9 million | $8.1 million | Ministry of Trade letter; Penalty on, or suspension of, the bank | ستبعد ت ,1و2و4) بموجب كتاب وزارة لتجارة والشركة العامة للمعارض والخدمات العراقية / قسم الأستيراد المرقم 3320 في |
| undated | National Bank of Iraq (NBI) | $6.6 million | $8 million | Other reasons | الملغ ,205, ان عضة المصرف لنكرار اسماء |
| 1 April 2013 | National Bank of Iraq (NBI) | $6.6 million | $8 million | Problem with the import licence; Missing or faulty documents | اضافة الى عدم وجود رقم وتاريخ اجازة |
| 15 December 2014 | National Bank of Iraq (NBI) | $6.6 million | $6.6 million | Held back for audit | لاخراض تدقيقية |
| 17 March 2013 | National Bank of Iraq (NBI) | $6.5 million | $6.5 million | Other reasons | بالزبون |
| 8 October 2013 | National Bank of Iraq (NBI) | $6.4 million | $6.4 million | Missing or faulty documents | ستبعد النقد لعدم تطانيق الكشف مع الا |
| 7 March 2013 | National Bank of Iraq (NBI) | $6 million | $8.1 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 31 May 2014 | National Bank of Iraq (NBI) | $6 million | $8.4 million | Penalty on, or suspension of, the bank | ت1 يستبعد بموجب كتاب الشركة العامة للمعارض والخدمات المرقم 3320 في |
| 21 February 2013 | National Bank of Iraq (NBI) | $5.8 million | $10.3 million | Customer in breach of anti-money-laundering rules | 1-وجود زبون مخالف لتعليمات غسيل الاموال |
| 18 August 2014 | National Bank of Iraq (NBI) | $5.7 million | $12.9 million | Held back for audit | استبعاد !ت3) لاغراض تدقيقية |
| 12 February 2013 | National Bank of Iraq (NBI) | $5.7 million | $14.1 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف تعليمات غسيل الاموال |
| 1 September 2014 | National Bank of Iraq (NBI) | $5.6 million | $5.6 million | Held back for audit | الاغراض تدقيقية |
| 6 March 2013 | National Bank of Iraq (NBI) | $5.5 million | $7.6 million | The same customer at more than one bank | 2- تقديم الزبون اكثر من مصرف |
| 16 January 2013 | National Bank of Iraq (NBI) | $5 million | $14.1 million | Other reasons | حسب توجية السيد المحافظ |
| 31 January 2013 | National Bank of Iraq (NBI) | $5 million | $6.8 million | Customer in breach of anti-money-laundering rules | عدم التزام الزبون بتعليمات غسيل الاموال |
| undated | National Bank of Iraq (NBI) | $4.9 million | $4.9 million | Other reasons | عدم تقيم مطومات الصويقت |
| 18 February 2013 | National Bank of Iraq (NBI) | $4.8 million | $4.8 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 7 February 2013 | National Bank of Iraq (NBI) | $4.8 million | $6.9 million | Customer in breach of anti-money-laundering rules | لوجود زبونين مخالفين لتعليمات غسيل الاموال |
| 28 March 2013 | National Bank of Iraq (NBI) | $4.8 million | $9.9 million | Held back for audit | لاغراض تدقيقية تتعلق برقم وتاريخ الفاتورة |
| 22 June 2013 | National Bank of Iraq (NBI) | $4.6 million | $4.6 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار |
| undated | National Bank of Iraq (NBI) | $4.5 million | $8.8 million | Other reasons | لتقديمه قبل يوم وبذلك يخالف التعليماد المرقمة 588 فى 2014/02/06 |
| undated | National Bank of Iraq (NBI) | $4.5 million | $4.5 million | Bank's funds did not cover the request | لايداعه قيد RTGS في يوم 3/3 ليو 2014/03/1 مخالف بذلك تعليمات 588 فر |
| 24 August 2014 | National Bank of Iraq (NBI) | $4.3 million | $11.8 million | Held back for audit; Withdrawn at the bank's request | متبعاد !ت1)حسب طلب المصرف المرق 4222 في 2014/8/19 و(ت4)لاغراض تدقيقية |
| 22 September 2013 | National Bank of Iraq (NBI) | $4.1 million | $4.3 million | Held back for audit | تسلسل 1 في كشف الحوالات لاغراض تدقيقية |
| 19 February 2013 | National Bank of Iraq (NBI) | $4.1 million | $10.6 million | Customer in breach of anti-money-laundering rules | لوجود زبون مخالف لتعليمات غسيل الاموال |
| 10 January 2013 | National Bank of Iraq (NBI) | $4 million | $14.2 million | Other reasons | لكون المحول والمستفيد هو نفس الشركة |
| 17 January 2013 | National Bank of Iraq (NBI) | $4 million | $10.5 million | Other reasons | لكون المحول والمستفيد نفس الشركة وعدم اثبات مايؤيد استمرار الشركة بالعمل في عمان |
| 14 October 2014 | National Bank of Iraq (NBI) | $4 million | $14.6 million | Missing or faulty documents | ستبعاد كلي لعدم اكتمال كشوفات البيع |
| 26 September 2013 | National Bank of Iraq (NBI) | $4 million | $4 million | Held back for audit | اغراض تدقيقية |
| 27 June 2013 | National Bank of Iraq (NBI) | $3.9 million | $3.9 million | Bank below the capital requirement; Missing or faulty documents | لعدم استكمال رأس مال المصرف الى 150 مليار دينار |
| 7 January 2014 | National Bank of Iraq (NBI) | $3.8 million | $5.1 million | Other reasons | لمحدة من مستوزليت المكرين النفس. المارة |
| undated | National Bank of Iraq (NBI) | $3.7 million | $3.7 million | Other reasons | 1091/1 147 مسراقب الاستال فى مذارة تصيرفة شمرقمة 3667/303 في |
| 19 October 2014 | National Bank of Iraq (NBI) | $3.6 million | $11.6 million | Other reasons | ستبعاد !,!ت3وت4 ت5) حسب طلب فى لمصرف المرقم /5127 في 1014/10/14 |
| 27 August 2014 | National Bank of Iraq (NBI) | $3.5 million | $4.9 million | Held back for audit | استبعاد !,!ت 1وت2) لاغراض تدقيقية |
| 20 August 2014 | National Bank of Iraq (NBI) | $3.5 million | $14.8 million | Held back for audit | استبعادت!3! 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.