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- Withdrawn at the bank's request$1.27 billion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.
190 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 |
|---|---|---|---|---|---|
| 8 June 2014 | Sumer Commercial Bank | $18.2 million | $18.2 million | Other reasons | ستبعاد لتقديمه المعاملة قبل 6 ايام عمل ومخالفا بذلك لتعليمات البنك المركزي |
| 16 June 2014 | Sumer Commercial Bank | $18.2 million | $18.2 million | Other reasons | به المرقم 1863 في 14/6/10 |
| undated | Sumer Commercial Bank | $17.7 million | $17.7 million | Other reasons | المرقمة 1173 في 2014/03/27 |
| 21 May 2013 | Sumer Commercial Bank | $17.6 million | $17.6 million | The same customer at more than one bank | الوديعة (شركة السلسبيل) لتكرار الاسماء تسلسل ,!4,7,8,10,11,12,14,15) |
| 23 October 2013 | Sumer Commercial Bank | $17.3 million | $17.3 million | Bank below the capital requirement; Penalty on, or suspension of, the bank | عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقمة 3333/3/9 في 2013/10/22 |
| 22 September 2013 | Sumer Commercial Bank | $17.1 million | $17.1 million | Other reasons | 5-شركة الفاو,ورود تاريخ الكشف في 2013/9/11) عم توقيع المعاملة من قبل المدير المفوض |
| undated | Sumer Commercial Bank | $16.7 million | $16.7 million | Other reasons | السرقسة 1173/3/9/ في 2014/03/27 |
| undated | Sumer Commercial Bank | $16.7 million | $17.7 million | Held back for audit | ة لاغراض تعفيفية |
| 23 September 2013 | Sumer Commercial Bank | $16.7 million | $16.7 million | Missing or faulty documents; Penalty on, or suspension of, the bank | لعدم توقيع المدير المفوض على طلب الشراء والكتاب المقدم من قبل المصرف لا يفي بالغرض |
| 3 March 2014 | Sumer Commercial Bank | $16.4 million | $16.4 million | Other reasons | !ت 1)و,ت3) يستبعد ,يوجل في الوقت |
| undated | Sumer Commercial Bank | $16.2 million | $16.2 million | Missing or faulty documents; Penalty on, or suspension of, the bank | استبعاد لعدم وجود كتاب التحويل |
| 22 October 2013 | Sumer Commercial Bank | $16 million | $16 million | Bank below the capital requirement; Penalty on, or suspension of, the bank | عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقمة 3333/3/9 في 2013/10/22 |
| undated | Sumer Commercial Bank | $15.6 million | $15.6 million | Bank's funds did not cover the request | البنك كفاية الرصيد للمصرف لتلبية طلب |
| 26 February 2013 | Sumer Commercial Bank | $15 million | $15 million | Duplicate or reused invoice | 2-يقدم يوم الاربعاء وحسب الجدول3- تكرار رقم الفاتورة |
| undated | Sumer Commercial Bank | $14.9 million | $14.9 million | No reason given, or unreadable | |
| undated | Sumer Commercial Bank | $14.9 million | $14.9 million | Bank's funds did not cover the request | العنه كفاية الرصيد للمصرف لتغطية طلب |
| undated | Sumer Commercial Bank | $14.8 million | $14.8 million | Bank's funds did not cover the request; Missing or faulty documents | الحوالة والنقد لعدم كفاية الرصيد لتغطية طلب البنك |
| 28 May 2013 | Sumer Commercial Bank | $14.7 million | $14.7 million | Other reasons | لتقديمه الطلب يوم امس وهذا يخالف جدول استلام الطلبات |
| undated | Sumer Commercial Bank | $14.4 million | $14.4 million | Held back for audit | الاغراض تدقيقية |
| 25 July 2013 | Sumer Commercial Bank | $14 million | $14 million | Missing or faulty documents | لعدم التزام المصرف بالموعد الاسبوعي |
| 29 May 2013 | Sumer Commercial Bank | $14 million | $14 million | Missing or faulty documents | لعدم الالتزام بجدول التقديم |
| 24 October 2013 | Sumer Commercial Bank | $13.9 million | $13.9 million | Other reasons | B2013/10/22 في 3333/3/9 |
| 22 January 2014 | Sumer Commercial Bank | $13.8 million | $18.1 million | Held back for audit | نقد بسبب وجود خمسة فلاشات رخمسة اكسل ما غراض تدقووت3) (يوجل في الوت العاضر |
| 24 September 2013 | Sumer Commercial Bank | $13.7 million | $13.7 million | Missing or faulty documents | لعدم وجود توقيع المدير المفوض على استمارة البيع |
| 8 October 2013 | Sumer Commercial Bank | $13.7 million | $16.4 million | Held back for audit | تسلسل ,!4 و 5) في كشف الحوالة لاغراض تدقيقية |
| undated | Sumer Commercial Bank | $13.5 million | $13.5 million | Other reasons | البنه كفاية رصيد المصرف لتغطية طلب |
| 4 December 2013 | Sumer Commercial Bank | $13.4 million | $13.4 million | Other reasons | سيا 367/ -3447270 في 201:41920,45مرM |
| undated | Sumer Commercial Bank | $12.8 million | $12.8 million | Other reasons | المعواة لعم خديم، مطومات سرف الأسماء |
| undated | Sumer Commercial Bank | $12.8 million | $12.8 million | No reason given, or unreadable | |
| undated | Sumer Commercial Bank | $12.5 million | $12.5 million | Other reasons | 317 اممح مراقب المتال استعو: الصورافة والانتمان المراقمة 3567 في |
| undated | Sumer Commercial Bank | $12.4 million | $12.4 million | No reason given, or unreadable | |
| 19 November 2013 | Sumer Commercial Bank | $12.4 million | $12.4 million | Held back for audit | تملسل 1و2 2 غراض تدقيفية |
| undated | Sumer Commercial Bank | $12.4 million | $12.4 million | Other reasons | دو3677/2 م 20131 177 د 20131 1/26 التمان المرقمم |
| 16 June 2013 | Sumer Commercial Bank | $12.4 million | $12.4 million | Missing or faulty documents | لعدم توقيع المدير المفوض ومراقب الامتثال على كشف الحوالات في الصفحة الاولى والثانية مع عدم ارفاق الامر الاداري الخاص بمراقب الامتثال او من يحل محله اثناء غيابه من قبل المصرف نفسا |
| 19 September 2013 | Sumer Commercial Bank | $12.1 million | $16.7 million | Held back for audit | تسلسل 1 و2 لاغراض تدقيقية |
| undated | Sumer Commercial Bank | $12.1 million | $14.3 million | Other reasons | 12,053.000 ا الار الإامع مار الريية |
| undated | Sumer Commercial Bank | $12 million | $16.2 million | Held back for audit | لاغراض تدقيقية |
| 18 November 2013 | Sumer Commercial Bank | $11.9 million | $13.4 million | No reason given, or unreadable | |
| undated | Sumer Commercial Bank | $11.9 million | $14.1 million | Other reasons | ال 3 لُعُم وصوع الاجاو: لسم الازاون فى ا3جزة |
| 4 February 2014 | Sumer Commercial Bank | $11.9 million | $11.9 million | Held back for audit | 11,858,000 لاعراض تدقيقية |
| 17 September 2013 | Sumer Commercial Bank | $11.5 million | $17.1 million | Held back for audit | 7-المحيط,خطا في تاريخ البيع لحصة مستلمة سابقا اي 2012/11/12) 8-العربية المتحدة وشركة بدر,ورود الطلب باسم نائب المدير المفوض) اغراض تدقيقية |
| undated | Sumer Commercial Bank | $11.3 million | $16.6 million | Other reasons | تمثمن 1 و 3 لاغراض للقياية |
| 14 September 2013 | Sumer Commercial Bank | $11.1 million | $17.3 million | Held back for audit; Penalty on, or suspension of, the bank | 6-شركة السكاك (خطا في اسم الجد للمدير المفوض في كتاب طلب الشراء مع كتاب المديرية العامة للصيرفة والانتمان) غراض تدقيقية |
| undated | Sumer Commercial Bank | $10.9 million | $16.7 million | No reason given, or unreadable | |
| 26 September 2013 | Sumer Commercial Bank | $10.7 million | $16.7 million | Held back for audit | نسلسل !2 و 4 ) لاغراض تدقيقية |
| 3 March 2013 | Sumer Commercial Bank | $10.4 million | $10.4 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 27 February 2013 | Sumer Commercial Bank | $10.3 million | $14.3 million | No reason given, or unreadable | |
| 24 November 2013 | Sumer Commercial Bank | $10 million | $12.2 million | Held back for audit | تسئسل 4 و5 لا غراض تدفيمية |
| 4 March 2013 | Sumer Commercial Bank | $10 million | $10 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| 28 September 2013 | Sumer Commercial Bank | $9.9 million | $16.4 million | Held back for audit | نسلسل رقم 1 و3 في كشف الحوالة لاغراض تدقيقية |
Page 1 of 4
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.