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 they were written.
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- Withdrawn at the bank's request$1.27 billion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 written
Largest first. Company names are given as the committee wrote them. They are not accusations.
51 rows
| Date | Bank | Refused | Of a request for | Reason | The committee's words |
|---|---|---|---|---|---|
| 3 February 2013 | Trade Bank of Iraq (TBI) | $16.2 million | $16.2 million | No reason given, or unreadable | |
| 16 January 2013 | Trade Bank of Iraq (TBI) | $12.5 million | $12.5 million | Missing or faulty documents | نقد لعدم تثبيت يوم الشراء وعدم ذكر اسم الام في كشوفات /الحوالة لعدم تزويدنا بكشف الحولات الصادرة |
| 11 February 2013 | Trade Bank of Iraq (TBI) | $12.2 million | $12.2 million | Missing or faulty documents | لعدم وجود اقرار كشف تحليلي بالحوالات |
| 18 February 2013 | Trade Bank of Iraq (TBI) | $12.2 million | $12.2 million | Other reasons | الاقرار الموجود هو الشراء وليس للحوالة |
| 26 February 2013 | Trade Bank of Iraq (TBI) | $12.2 million | $12.2 million | Other reasons | اعتمادات اجلة |
| undated | Trade Bank of Iraq (TBI) | $8.6 million | $8.6 million | Other reasons | تبعد لاستلام طلب الشراء في الساعة • باحا يوم 014/05/27 |
| 16 June 2013 | Trade Bank of Iraq (TBI) | $8.1 million | $8.1 million | The bank's whole request excluded; Names or details do not match; Held back for audit; Penalty on, or suspension of, the bank | 1-لاختلاف تاريخ كتاب الشراء والاقرار عن تاريخ استمارة الشراء2. بالنسبة للحوالة استبعاد كلى لاغراض تدقيقية |
| 1 April 2013 | Trade Bank of Iraq (TBI) | $8 million | $8 million | No reason given, or unreadable | |
| 1 April 2013 | Trade Bank of Iraq (TBI) | $8 million | $8 million | No reason given, or unreadable | |
| 12 May 2013 | Trade Bank of Iraq (TBI) | $8 million | $8 million | The bank's whole request excluded; Missing or faulty documents | استبعاد كلي لعدم تقديم قوائم البيع |
| 18 August 2013 | Trade Bank of Iraq (TBI) | $8 million | $8 million | Other reasons | باسماء الزرا fm |
| 25 August 2013 | Trade Bank of Iraq (TBI) | $8 million | $8 million | Other reasons | يقدم الاسبوع المقبل لحين تقديم قوانم الزبائن بشكل اصولي |
| undated | Trade Bank of Iraq (TBI) | $7.8 million | $7.8 million | Names or details do not match; Penalty on, or suspension of, the bank | لاختلاف المبنغ الكلي كتابة عن المبلغ الكلي للنقد رقما |
| 17 November 2013 | Trade Bank of Iraq (TBI) | $7.5 million | $7.8 million | Missing or faulty documents | لمصراف كملة لعدم افراج حقل تتريخ ملاصية وتفذ ووتز السفر ا ي من حصل غرعات قصرفة التور الإساء ضمين اقرم الابان المك. |
| 24 November 2013 | Trade Bank of Iraq (TBI) | $7.5 million | $7.8 million | No reason given, or unreadable | |
| undated | Trade Bank of Iraq (TBI) | $7.5 million | $7.8 million | Other reasons | السفوي ذا فى المباخ وعلم تساري اسعاء الزيلن مع السهلاع |
| 21 January 2013 | Trade Bank of Iraq (TBI) | $4 million | $4 million | Missing or faulty documents | 1- لعدم وجود اقرار المصرف 2- لعدم تحديد يوم الشراء |
| 28 January 2013 | Trade Bank of Iraq (TBI) | $4 million | $4 million | Missing or faulty documents | لعدم وجود إقرار |
| 24 February 2013 | Trade Bank of Iraq (TBI) | $3.5 million | $3.5 million | Missing or faulty documents | عدم وجود ختم المصرف على قوائم البيع للمواطنين |
| 13 January 2015 | Trade Bank of Iraq (TBI) | $1.2 million | $1.2 million | Other reasons | ل ليات 342/3/19 في |
| 26 August 2014 | Trade Bank of Iraq (TBI) | $0.6 million | $0.6 million | The same customer at more than one bank; The bank's whole request excluded | استبعاد كلي لشركة القاب والمسعى لتكرار |
| 28 May 2013 | Trade Bank of Iraq (TBI) | $0.5 million | $0.5 million | Missing or faulty documents | 1-لعدم الالتزام بتاريخ تقديم الطلب 2-لتجزنة الفاتورة |
| 28 July 2013 | Trade Bank of Iraq (TBI) | $0.5 million | $0.5 million | Other reasons | لانتهاء تاريخ الفاتورة |
| 8 July 2013 | Trade Bank of Iraq (TBI) | $0.5 million | $0.5 million | Problem with the import licence; Penalty on, or suspension of, the bank | نتهاء اجازة الاستيراد/ تاريخ كتاب الاقرار والشراء في 2/7/2013 |
| 3 March 2013 | Trade Bank of Iraq (TBI) | $0.4 million | $4 million | Other reasons | ضمن مامثبت في تعميمنا 40/3/9 في |
| 30 May 2013 | Trade Bank of Iraq (TBI) | $0.4 million | $0.4 million | Names or details do not match | 1-لتقديم المعاملة يوم امس الساعة 1.30 ظهرا وهذا يخالف التعليمات 2- لأختلاف التاريخ في استمارة الطلب والاقرار |
| 6 February 2013 | Trade Bank of Iraq (TBI) | $0.4 million | $4 million | Other reasons | المقرر في التعليمات |
| 29 May 2013 | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Missing or faulty documents | لعدم الالتزام بجدول التقديم |
| undated | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Other reasons | المرقم 1153 في 2014/5/19 |
| 28 May 2014 | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Other reasons | قديم المصرف الايداع قبل ستة ايام عم ليس سبعة ايا |
| 29 September 2013 | Trade Bank of Iraq (TBI) | $0.3 million | $7.8 million | The same customer at more than one bank | 1-تكرار اسم زبون مع مصرف الشرق الاوسط 2-شركة المسعى ,لكون الكتب الواردة من الشركة مصورة وغير حية) |
| 18 May 2014 | Trade Bank of Iraq (TBI) | $0.3 million | $0.6 million | The same customer at more than one bank | ن شركة المسعى لتكرار اسم مع مصرف الاستثمار |
| 3 October 2013 | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Names or details do not match | اختلاف يوم التقديم للمصرف حيث ان من المفروض ان يكون يوم الاحد وليس يوم لخميس |
| 6 October 2013 | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Penalty on, or suspension of, the bank | لان استمارة الشراء بتاريخ 2013/10/6 وكتاب طلب الشراء بتاريخ سابق في 2013/10/3 وكتاب الشركة في 2013/10/5 |
| 20 October 2013 | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | No reason given, or unreadable | |
| undated | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Other reasons | 201 3110/22 فسغول في مذارة الصيرفة والالتمان المرقمة 3333/3/0 في |
| undated | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Missing or faulty documents | لعدم التزامه بتعليمات البنك 588 في |
| undated | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Bank's funds did not cover the request; Missing or faulty documents | لعدم تقديمه قيد RTGS ليوم 2014/03/9 مخالف بذلك تعليمات 588 في |
| 6 November 2014 | Trade Bank of Iraq (TBI) | $0.3 million | $0.3 million | Other reasons | مبعلد كلي لمخالفة تعليمات 19/3/9 وفق ذكرة الصيرفة المرقمة 68/3/9 بتاريخ |
| undated | Trade Bank of Iraq (TBI) | $0.2 million | $8.3 million | The same customer at more than one bank | تكرار,!7) اسماء مع الرشيدو الهدى وم قوائم نفس المصرف ولخطا في تاريخ البد ال,35)زبون بتاريخ2014/3/4 وخطا بتاريخ بيع ل,2)من الزبانن |
| undated | Trade Bank of Iraq (TBI) | $0.2 million | $7.8 million | The same customer at more than one bank | التكرار ,32) لسم مع فروع المصرف نفسه |
| 3 June 2014 | Trade Bank of Iraq (TBI) | $0.1 million | $8.6 million | The same customer at more than one bank; The bank's whole request excluded | تكرار !,!17)اسم من حصة المصرف م يلاف والعراقي الاسلامي والاستثما والتنمية والاهلي ومع نفس قوائم المصرف |
| 27 October 2013 | Trade Bank of Iraq (TBI) | $0 million | $7.8 million | Other reasons | وعبر العراق |
| 16 March 2014 | Trade Bank of Iraq (TBI) | $0 million | $8.3 million | The same customer at more than one bank | كرار ,8)اسماء مع فروع المصرف فر برلمانَ وفرع المتطقة الدولية .من حص المصرف |
| 17 August 2014 | Trade Bank of Iraq (TBI) | $0 million | $8 million | The same customer at more than one bank | لتكرار !,!6)اسم مع نفس قوائم المصرف |
| 5 November 2014 | Trade Bank of Iraq (TBI) | $0 million | $8 million | The same customer at more than one bank | لتكرار ,5! اسم من فرع المسبح |
| 20 April 2014 | Trade Bank of Iraq (TBI) | $0 million | $8.3 million | Other reasons | من حصة اسمين مع نفس |
| 3 December 2014 | Trade Bank of Iraq (TBI) | $0 million | $1.5 million | The same customer at more than one bank | لتكرار !,!2)اسم من البتراء |
| 8 December 2013 | Trade Bank of Iraq (TBI) | $0 million | $7.8 million | The same customer at more than one bank | كرار السم زيون مع شركة الهمل التنهمة لمصرف الرشيد |
| undated | Trade Bank of Iraq (TBI) | $0 million | $8 million | Held back for audit | لاغراض تدقيقية |
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Download:refusals.csv.xlsx
Company names in the Central Bank's notes are shown as the bank wrote them. 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.