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- Withdrawn at the bank's request$1.27 billion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.
173 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 |
|---|---|---|---|---|---|
| 5 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $25.6 million | $29.6 million | The same customer at more than one bank; Held back for audit | 1-استبعدت الحوالة لاغراض تدقيقية 2-استبعد من النقد لتكرار اسماء الزبائن في قوانم البيع مع مصرف الاعتماد اللبناني ,شركة هه مون ) |
| 3 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $20.3 million | $30.4 million | Held back for audit | لاغراض تدقيقية |
| 22 August 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $20.2 million | $24.6 million | Missing or faulty documents | لعدم توفر رصيد في حساب المصرف الجاري |
| 18 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $20.1 million | $20.1 million | Held back for audit | اغراض تدفيقيه |
| 6 June 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $20 million | $24 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف لعدم كفاية رصيد المصرف |
| 10 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $20 million | $20 million | No reason given, or unreadable | |
| 16 December 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $18.3 million | $18.3 million | No reason given, or unreadable | |
| 7 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $18 million | $22 million | Held back for audit | اغراض تدقيقية |
| 2 November 2014 | Region Trade Bank (RTB, formerly Emerald Bank) | $16.7 million | $16.7 million | Names or details do not match | متبعاد الحوالمة بالكامل لاختلاف تاري تمارة التقديم عن طلب الشرا. |
| 30 October 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $16.1 million | $20.1 million | Other reasons | على استمارة الشراء |
| 27 February 2014 | Region Trade Bank (RTB, formerly Emerald Bank) | $15.9 million | $15.9 million | Customer in breach of anti-money-laundering rules | توقيع الاقرار من قبل مراقب الامتثال بدلا ن مدير متابعة غسل الاموال |
| 2 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $15.3 million | $25.4 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 666 في 2013/9/1 |
| 21 July 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $15.2 million | $15.2 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية رصيد المصرف حيث ان الرصيد يبلغ ,2177604) مليار دينار عراقي |
| 28 December 2014 | Region Trade Bank (RTB, formerly Emerald Bank) | $14.9 million | $14.9 million | Held back for audit | 14,857,000 لاغراض تدقيقية |
| 2 July 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $14 million | $14 million | Duplicate or reused invoice; Penalty on, or suspension of, the bank; Withdrawn at the bank's request | 1-حسب طلب المصرف ذو الكتاب المرقم 489 في 2/7/2013 بأستبعاد مبلغ 5 مليون دولار 2-استبعاد مبلغ 9 مليون دولار لأستخدام الفاتورة مسبقا بتاريخ 5/5/2013 تسلسل ,!2) في كشف الحوالات |
| undated | Region Trade Bank (RTB, formerly Emerald Bank) | $13 million | $20 million | Held back for audit | استبعاد ,!ت 1وت 2وت3) لاغراض تدقيقية |
| 5 December 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $12.3 million | $12.3 million | No reason given, or unreadable | |
| undated | Region Trade Bank (RTB, formerly Emerald Bank) | $12.3 million | $12.3 million | Other reasons | اصيردة الركية 146 علي 01401718% ب متكرة |
| 4 April 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $12.3 million | $12.3 million | Bank's funds did not cover the request | 2- عدم كفاية الرصي |
| undated | Region Trade Bank (RTB, formerly Emerald Bank) | $12.2 million | $12.2 million | Other reasons | 201 1/11/17 مرغفب المتتال لمذارة الصيرفة والتمان المرقمة 3667 في |
| 21 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $12 million | $12 million | Names or details do not match; Missing or faulty documents; Held back for audit | 1-استبعدت الحوالة لعدم تقديم معلومات السويفت واغراض تدقيقية 2-استبعد النقد لاختلاف تواقيع المخولين وعدم توقيع مراقب الامتثال |
| 17 January 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $11 million | $11 million | Missing or faulty documents | لعدم توقيع المخول الاول على استمارة الشراء |
| 3 June 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $11 million | $11 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد |
| 12 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.4 million | $14.8 million | The same customer at more than one bank; Held back for audit; Penalty on, or suspension of, the bank | 1-اغراض تدقيقية 2-شركة هه مون ,تكرار الاسماء في الكشوفات المقدمة) 3-تكرار اسماء مع مصرف الاعتماد ا 2. تكركة اسماء!حسب كتاب المديرية العامة للصيرفة والانتمان) |
| 31 July 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.2 million | $15.2 million | Problem with the import licence; Names or details do not match | لاختلاف منشأ البضاعة المستوردة عن ما مثبت في اجازة الاستيراد تسلسل ,2) |
| 15 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.2 million | $16.4 million | Held back for audit | اغراض تدقيقية |
| 14 January 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $10.1 million | Other reasons | مدير الفرع غير معروف لدينا |
| 7 August 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $15.1 million | Held back for audit | لاغراض تدقيقية تسلسل ,2) في كشف الحوالات |
| 26 August 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $15.2 million | Held back for audit | لاغراض تدقيقية |
| 1 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $20.2 million | No reason given, or unreadable | |
| 11 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $10.1 million | Held back for audit | اغراض تدقيقية |
| 16 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $10.1 million | Held back for audit | غراض تدقيقية |
| undated | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $10.1 million | No reason given, or unreadable | |
| undated | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $10.1 million | Held back for audit | إيسلبعه وياجل في الرقت الماضر لاغراض تدايئيا |
| undated | Region Trade Bank (RTB, formerly Emerald Bank) | $10.1 million | $14 million | Other reasons | من اتقد: لكرير ,14) اسم مع المصارف المدرجة(كره |
| 7 January 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10 million | $10 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم كفاية الرصيد |
| 28 May 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10 million | $10 million | Other reasons | لتجزئة الفاتورة وهذا يخالف التعليمات |
| 16 December 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $10 million | $10 million | Other reasons | 10,000,000 تزجل لاغراض مفينية |
| 8 January 2014 | Region Trade Bank (RTB, formerly Emerald Bank) | $9.9 million | $9.9 million | Other reasons | مسفوين اطلب الرقت |
| 29 May 2014 | Region Trade Bank (RTB, formerly Emerald Bank) | $9.8 million | $9.8 million | Other reasons | بذ جل في الراقت الحاضر لوجوز مشتريات من مستوردين أخرات |
| 3 March 2014 | Region Trade Bank (RTB, formerly Emerald Bank) | $9.8 million | $9.8 million | Other reasons | اخراض تدقرقية |
| undated | Region Trade Bank (RTB, formerly Emerald Bank) | $9.8 million | $9.8 million | Penalty on, or suspension of, the bank | 14 فى 2074/01/8 صب مذكرة الصيرفة المرقة |
| 25 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9.5 million | $9.5 million | Held back for audit | اغراض تدقيقية |
| 18 February 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9.4 million | $9.4 million | Problem with the import licence; Missing or faulty documents | لعدم وجود رقم وتاريخ اجازة الاستيراد |
| 22 June 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9.2 million | $23.1 million | Duplicate or reused invoice | لاستخدام الفاتورة سابقا تسلسل !2) في كشف الحوالات |
| 17 November 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9.1 million | $9.1 million | No reason given, or unreadable | |
| 26 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9 million | $13.4 million | The same customer at more than one bank; Held back for audit | 1- استبعدت من الحوالة لاغراض تدقيقية 2-من النقد استبعدت شركة هه مون وزبانن من فروع اربيل وبغداد لتكرار الاسماء مع مصرف الاعتماد |
| 17 March 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9 million | $9 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون 1- لاغراض تدقيقية برقم وتاريخ الفاتورة 2- |
| 22 September 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9 million | $9 million | Held back for audit | اغراض تدقيقية |
| 8 October 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $9 million | $9.8 million | Held back for audit | تسلسل رقم ,2) في كشف الحوالة 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.