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- Withdrawn at the bank's request$1.27 billion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.
169 rows
| Date | Bank | Refused | Of a request for | Reason | The committee's words |
|---|---|---|---|---|---|
| 14 February 2013 | Union Bank of Iraq | $14.9 million | $18.9 million | Names or details do not match | عدم تطابق المادة المطلوبة مع الشركة المجهزة ,المستفيدة) |
| 23 October 2013 | Union Bank of Iraq | $14.3 million | $14.3 million | Other reasons | 3333/3/9 فى 2013/10/22 |
| 28 May 2013 | Union Bank of Iraq | $14 million | $14 million | Other reasons | تجزئة الفاتورة وهذا يخالف التعليمات |
| 9 January 2013 | Union Bank of Iraq | $12.9 million | $12.9 million | Penalty on, or suspension of, the bank | منع من دخول المزاد حسب كتاب المديرية العامة للصيرفة والانتمان 83/3/9 في 2013/1/8 |
| 29 May 2013 | Union Bank of Iraq | $12.7 million | $27.6 million | The same customer at more than one bank | لتكرار الفاتورة لأكثر من طلب تحويل تسلسل |
| undated | Union Bank of Iraq | $12.2 million | $12.2 million | Bank's funds did not cover the request; Missing or faulty documents | استبعاد كامل لعدم وجود قيد RTGS |
| 5 October 2013 | Union Bank of Iraq | $12 million | $12 million | Missing or faulty documents; Penalty on, or suspension of, the bank | 2-استبعد من مبلغ النقد مبلغ شركة راس الخيمة بسبب ادراج تاريخ البع خطا 3-من مبلغ النقد شركة الينبوع لعدم ارفاقه كتاب اطلاق الوديعة |
| 6 June 2013 | Union Bank of Iraq | $10.5 million | $15.6 million | Withdrawn at the bank's request | حسب طلب المصرف المرفق نسخة منه طيا المرقم 1932في 4/6/2013 |
| 25 January 2015 | Union Bank of Iraq | $9.8 million | $9.8 million | Bank's funds did not cover the request | استبعاد لوجود خطأ في تخويل قيد RTGS |
| undated | Union Bank of Iraq | $9.7 million | $9.7 million | Bank's funds did not cover the request | عدم كفاية الرصيد الجاري في حساب المصرف |
| 2 June 2013 | Union Bank of Iraq | $9.6 million | $9.6 million | Missing or faulty documents | لعدم وجود ختم المصرف |
| 8 June 2013 | Union Bank of Iraq | $9.5 million | $20 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف ذو الكتاب 1937 في 4-6-2013 |
| 19 June 2013 | Union Bank of Iraq | $9.5 million | $20.3 million | Withdrawn at the bank's request | حسب طلب المصرف |
| 12 December 2013 | Union Bank of Iraq | $9.3 million | $9.3 million | Other reasons | فتههم المرقم 3804 في 2013/12/11 |
| 29 January 2014 | Union Bank of Iraq | $9.1 million | $21.9 million | The same customer at more than one bank | بن الحوالة لتكرار !,6)سماء ضمن شركة الصحرا، الحوالة لا عراض تدقهقية |
| 4 November 2013 | Union Bank of Iraq | $9.1 million | $9.1 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم 9/ق.د/3439 في 2013/11/4 |
| 17 November 2013 | Union Bank of Iraq | $9.1 million | $9.1 million | Other reasons | سبب الاستبعد |
| undated | Union Bank of Iraq | $8.9 million | $8.9 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 3228 في 2013/10/9 |
| 20 February 2013 | Union Bank of Iraq | $8.9 million | $12.9 million | Customer in breach of anti-money-laundering rules | وجود زبون مخالف لتعليمات غسيل الاموال |
| undated | Union Bank of Iraq | $8.2 million | $10.9 million | The bank's whole request excluded; Held back for audit | استبعاد المبلغ !,7800) لاغراض تدقيقية والمبلغ !395) لاستبعاد كلي وجزئي لعدد من الشركات لاسباب متعدد |
| 15 December 2013 | Union Bank of Iraq | $7.9 million | $12.2 million | No reason given, or unreadable | |
| 25 November 2013 | Union Bank of Iraq | $7.8 million | $7.8 million | No reason given, or unreadable | |
| 21 November 2013 | Union Bank of Iraq | $7.7 million | $18.1 million | Other reasons | من فتة الكرير الاسناء ممن المفودم المرفة ويج مصرتب وميخ 2013/1121 |
| undated | Union Bank of Iraq | $7.6 million | $7.6 million | Held back for audit | الاغراض تدقيقية |
| undated | Union Bank of Iraq | $7.4 million | $7.4 million | Withdrawn at the bank's request | حب طلب المصرف بكتاههم 8لأرد/4383 في 2013/11/6 |
| 24 November 2013 | Union Bank of Iraq | $7.4 million | $7.4 million | Other reasons | لمرقم 9/ق3579/ 4 فى 2013/11/21 |
| 7 April 2013 | Union Bank of Iraq | $7.3 million | $7.3 million | Company's activity does not match the goods; Names or details do not match | اختلاف النشاط التجاري للزبون |
| undated | Union Bank of Iraq | $7.3 million | $7.3 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بب الاستبعاد حسب طلب المصرف ذو الكتاب 2555 في 31/7/2013 |
| undated | Union Bank of Iraq | $7 million | $7 million | Penalty on, or suspension of, the bank | يناء على طلاب المصرف بكتابه الدراقم 3842 في 2013/12/15 |
| 22 September 2013 | Union Bank of Iraq | $6.9 million | $6.9 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم 1136 في 2013/9/22 |
| undated | Union Bank of Iraq | $6.8 million | $6.8 million | No reason given, or unreadable | |
| 16 December 2013 | Union Bank of Iraq | $6.8 million | $6.8 million | Other reasons | 6,831,000 حصب طتي شعرف بالتيهم المرام 3843 فى 2013/12/16 |
| 3 March 2014 | Union Bank of Iraq | $6.8 million | $6.8 million | Held back for audit | لا غراض تكقيقية |
| 24 February 2013 | Union Bank of Iraq | $6.5 million | $6.5 million | Other reasons | تاريخ الاقرار قديم |
| 2 April 2013 | Union Bank of Iraq | $6.4 million | $6.4 million | Company's activity does not match the goods; Names or details do not match | اختلاف نشاط الزبون التجاري |
| 23 November 2013 | Union Bank of Iraq | $6.4 million | $6.4 million | Other reasons | كتايهم ظمرقم 0إ3578/x3 في 2053/11/21 |
| 31 July 2013 | Union Bank of Iraq | $6.2 million | $18.2 million | No reason given, or unreadable | |
| undated | Union Bank of Iraq | $6.1 million | $10.7 million | Penalty on, or suspension of, the bank | استنادا الى كتابهم المرقم 442 في 2014/02/09 |
| 28 January 2014 | Union Bank of Iraq | $5.9 million | $12.1 million | Held back for audit | ,ت 2) لاغراض تدقيتية |
| 1 April 2013 | Union Bank of Iraq | $5.4 million | $5.9 million | Company's activity does not match the goods; Names or details do not match | اختلاف نشاط الزبون التجاري |
| 27 March 2013 | Union Bank of Iraq | $5.4 million | $9.4 million | Held back for audit | سب الاسع لاغراض تدقيقية تتعلق بالزبون |
| undated | Union Bank of Iraq | $5.1 million | $10.9 million | Other reasons | من فنلهء نقرر الإسعاء خسل الوم الصرم381 2 فى 2013/1 4/28 |
| undated | Union Bank of Iraq | $5.1 million | $5.1 million | Missing or faulty documents | لعدم ارفاق كشف الحوالات مع المعاملة |
| 26 March 2013 | Union Bank of Iraq | $5 million | $5.1 million | Held back for audit | لاغراض تدقيقية تتعلق بالزبون |
| undated | Union Bank of Iraq | $4.3 million | $6.7 million | Held back for audit | تسلسل 1 في كشك الحوالة لا غراض تمفيقية |
| 24 December 2014 | Union Bank of Iraq | $4.3 million | $12.6 million | The same customer at more than one bank; The bank's whole request excluded; Held back for audit | ماد المبلغ !,3700) لاغراض تقة 640) استبعاد كلي لشركة الدراق لاغرا تداوقية والناضر لتكرار لسماء واستبعاد جزئي لتكرار !,!1)اسم لكل من المراح والريان والاردب والنفاف و,2)اسم لكل من الترتيل والفوز |
| 5 June 2014 | Union Bank of Iraq | $4.2 million | $4.2 million | Other reasons | سبب الاستبعاد 9/ق د 1731 |
| undated | Union Bank of Iraq | $4.2 million | $4.2 million | Other reasons | 4,225,000 وتيد لا غراض عقيي |
| 24 September 2013 | Union Bank of Iraq | $4.2 million | $4.2 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | حسب طلب المصرف بكتابهم المرقم 3072 في 2013/9/22 |
| 23 September 2013 | Union Bank of Iraq | $4.2 million | $4.2 million | Penalty on, or suspension of, the bank; Withdrawn at the bank's request | بناء على طلب المصرف بكتابهم المرقم 1162 في 2013/9/21 |
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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.