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- Withdrawn at the bank's request$1.27 billion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.
86 rows
| Date | Bank | Refused | Of a request for | Reason | The committee's words |
|---|---|---|---|---|---|
| 28 May 2013 | Al-Huda Bank | $18.4 million | $18.4 million | Old or invalid invoice | لتجزئة مبلغ الفاتورة |
| 4 November 2013 | Al-Bilad Islamic Bank for Investment & Finance | $12.5 million | $31.5 million | Old or invalid invoice; Problem with the import licence; Missing or faulty documents; Held back for audit | صارف الموصل والاستثمار والخليج واشور والانتمان وبغداد ومع نفس المصرا من الحوالة للاسباب: ستبعد تسلسل 1 و2 لاغراض تدقيقية ستبعد تسلسل 4 لعدم وضوح اسم الزبون في الكشف المقدم مع الاجازة استبعد تسلسل 7 لتجاوز مبلغ الاجازة |
| undated | BankMed SAL (Iraq) | $12.1 million | $15 million | Old or invalid invoice; Problem with the import licence | لتجاوز مبلغ الاجازتين تسلسل ,!2,3,4) في كشف الحوالات |
| 17 September 2013 | Investment Bank of Iraq | $11 million | $11.1 million | Old or invalid invoice; Problem with the import licence; Held back for audit; Penalty on, or suspension of, the bank; Withdrawn at the bank's request | 1-ايكلاس للتجارة العامة ,اغراض تدقيقية ) 2- الزبون امين احمد خالد (تجاوز مبلغ الاجازة ) 3-شركة مزايا البصرة حسب طلب المصرف بكتابه المرقم 2576 في 2013/9/16 |
| 3 March 2013 | United Bank for Investment (UBI) | $10.6 million | $14.6 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 3 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $9.7 million | $9.7 million | Old or invalid invoice; Problem with the import licence; Held back for audit | 1-تسلسل 1 في كشف الحوالة لتجاوز مبلغ الاجازة 2-تسلسل 2 و 3 لاغراض تدقيقية |
| 26 October 2013 | Cihan Bank for Islamic Investment & Finance | $9.6 million | $17.8 million | The same customer at more than one bank; Old or invalid invoice; Problem with the import licence; Held back for audit | سلسل 2 لاغراض تدقيقيا تسلسل 3 لتجاوز مبلغ اجازة الاستيراد من النقد استبعد للاسباب : لتكرار اسم زبون مع مصرف ايلاف نشابه ارقام الجوازات للزبائن بين قوانم المصرف و فروع النجف وزاخو |
| 18 September 2013 | Investment Bank of Iraq | $9 million | $9 million | Old or invalid invoice; Problem with the import licence | 2- تسلسل 2 و 3 , تجاوز مبلغ الاجازة الحى المسموح ب4) 2-تسلسل 2 و 3 ( تجاوز مبلغ الاجازة الحد |
| 4 November 2013 | Cihan Bank for Islamic Investment & Finance | $8.9 million | $13.6 million | Old or invalid invoice; Problem with the import licence; Names or details do not match | تسلسل 1 في كشف الحوالة لتجاوز مبلغ الاجازة تسلسل 3 لاختلاف اسم الزبون بين الاجازة والكشف |
| 7 October 2013 | Credit Libanais SAL | $8.5 million | $8.5 million | Old or invalid invoice; Held back for audit | سلسل 1 و2 لتجاوز مبلغ الاج سلسل 3 لاغراض تدة |
| 16 September 2013 | Investment Bank of Iraq | $8.4 million | $17 million | Old or invalid invoice; Problem with the import licence | تجاوز مبلغ الاجازة عن الحد المسموح به |
| 27 October 2013 | Cihan Bank for Islamic Investment & Finance | $8.4 million | $11.9 million | Old or invalid invoice; Problem with the import licence | تسلسل 1 و2 في كشف الحوالة لتجاوز مبلغ الاجازة |
| 2 June 2013 | Gulf Commercial Bank | $8.2 million | $8.2 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 24 March 2013 | Region Trade Bank (RTB, formerly Emerald Bank) | $7.8 million | $11.8 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 24 September 2013 | Credit Libanais SAL | $7.5 million | $7.5 million | Old or invalid invoice; Problem with the import licence; Missing or faulty documents | -تسلسل1 في كشف الحوالات لتجاوز مبلغ الاجاز -تسلسل 2 لورود رقم الاجازة خه 3-عدم تقديم معومات السويفت |
| 8 April 2013 | National Islamic Bank | $7.3 million | $9.5 million | Old or invalid invoice; Held back for audit; Penalty on, or suspension of, the bank | الحوالات وكتاب التحويل 1- تاريخ الفاتورة قديم 2-لاغراض تدقيقية |
| 12 May 2013 | Gulf Commercial Bank | $6.9 million | $6.9 million | Old or invalid invoice; Missing or faulty documents | عدم وجود حقل مبلغ الفاتورة في كشف الحوالة |
| 25 September 2013 | Investment Bank of Iraq | $6 million | $10.8 million | Old or invalid invoice; Problem with the import licence | تسلسل رقم 1 في كشف الحوالة لتجاوز مبلغ الاجازة الحد المسموح به |
| 23 September 2013 | Investment Bank of Iraq | $6 million | $15.9 million | Old or invalid invoice; Problem with the import licence | سلسل 2 و3 في كشف الحوالة لتجاوز مبلغ الاجازة |
| 23 September 2013 | Credit Libanais SAL | $6 million | $10.5 million | Old or invalid invoice; Problem with the import licence | 1-تسلسل 1 في كشف الحوالات لتجاوز مبلغ الاجازة 2-استبعد مبلغ الحوالة 3150 لورود الطلب قبل يوم من المزاد ولوجود حوالة ثانية في نفس اليوم |
| 26 September 2013 | Kurdistan International Islamic Bank for Investment & Development | $5.6 million | $11.2 million | Old or invalid invoice; Problem with the import licence | تسلسل!,!1 و4) في كشف الحوالة لتجاوز مبلغ الاجازة |
| 2 October 2013 | Investment Bank of Iraq | $5.6 million | $9.2 million | Old or invalid invoice; Problem with the import licence; Held back for audit | 1-تسلسل 1 لاغراض تدقيقية 2-تسلسل 4 لتجاوز مبلغ الاجازة |
| 21 September 2013 | Investment Bank of Iraq | $5.5 million | $5.5 million | Old or invalid invoice; Problem with the import licence; Missing or faulty documents | 1-لعدم تقديم معلومات السويفت خلال المدة المقررة من قبلذ 2-تسلسل ,!4) في كشف الحوالات لتجاوز مبلغ الاجازة |
| 21 February 2013 | Mansour Bank for Investment | $5.1 million | $5.1 million | Customer in breach of anti-money-laundering rules; Old or invalid invoice | 1- تاريخ الفاتورة قديم 2-وجود زبون مخالف لتعليمات غسيل الاموال |
| 7 September 2013 | BankMed SAL (Iraq) | $5.1 million | $5.1 million | Old or invalid invoice; Problem with the import licence | لتجاوز مبلغ الاجازتين المقدمة الحد المسموح به في الاجازة |
| 22 September 2013 | Credit Libanais SAL | $5.1 million | $9.3 million | Old or invalid invoice; Problem with the import licence | تسلسل 1 في كشف الحوالات لتجاوز مبلغ الاجازة المبلغ السموح به |
| 12 September 2013 | Credit Libanais SAL | $5 million | $8.9 million | The same customer at more than one bank; Old or invalid invoice; Problem with the import licence | 1-تكرار الاسماء مع مصرف اميرالد 2-تجاوز مبلغ الاجازة |
| 29 May 2013 | IBL Bank SAL | $4.8 million | $4.8 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 7 October 2013 | Kurdistan International Islamic Bank for Investment & Development | $4.8 million | $10.2 million | Old or invalid invoice; Problem with the import licence | تسلسل 2 في كشف الحوالة لتجاوز مبلغ الاجازة |
| 29 October 2013 | National Islamic Bank | $4.8 million | $10.3 million | Old or invalid invoice; Problem with the import licence; Missing or faulty documents | الفقرة 3 و5 في كشف الحوالة لعدم وضوح الاجازة الفقرة 4 لتجاوز مبلغ الاجازة |
| 10 April 2013 | Iraqi Middle East Investment Bank | $4.6 million | $4.6 million | Old or invalid invoice | رقم وتاريخ الفاتورة قديم |
| 17 September 2013 | BankMed SAL (Iraq) | $4.5 million | $4.5 million | Old or invalid invoice; Problem with the import licence | تجاوز مبلغ الاجازة المقدمة |
| 25 March 2013 | International Development Bank (IDB) | $4.4 million | $10.9 million | Old or invalid invoice | 2-رقم وتاريخ الفاتورة قديم |
| 9 July 2013 | Al-Bilad Islamic Bank for Investment & Finance | $3.9 million | $29.3 million | Duplicate or reused invoice; Old or invalid invoice | 1-استبعاد مبلغ ,!3893)الف دولار لكون المبلغ المطلوب اكثر من مبلغ الفاتورة تسلسل ,8) في كشف الحوالات 2-لأستخدام الفاتورة مسبقا في 1/7/2013 تسلسل !7) في كشف الحوالات |
| 12 September 2013 | BankMed SAL (Iraq) | $3.5 million | $5.4 million | Old or invalid invoice; Problem with the import licence | تجاوز مبلغ الاجازة |
| 6 March 2013 | Union Bank of Iraq | $3.5 million | $8.2 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 9 May 2013 | Gulf Commercial Bank | $3.4 million | $3.4 million | Old or invalid invoice; Missing or faulty documents | لعدم وجود حقل مبلغ الفاتورة في كشف الحوالات |
| 18 February 2013 | Bank of Baghdad | $3.4 million | $5.4 million | Old or invalid invoice | 2- مبلغ المطلوب تحويلة اكبر من مبلغ الفاتورة |
| 24 August 2013 | Al-Bilad Islamic Bank for Investment & Finance | $3.2 million | $19.4 million | Old or invalid invoice | جود خطا في تسجيل مبلغ الفاتورة عن المبلغ المطلب في تسلسل,4) في كة حوالات للزبون يادكار علي سعيد لطا |
| 22 January 2013 | Kurdistan International Islamic Bank for Investment & Development | $3.2 million | $9.4 million | Old or invalid invoice | تاريخ الفاتوره قديم |
| 19 September 2013 | Investment Bank of Iraq | $3 million | $3 million | Old or invalid invoice; Problem with the import licence | تجاوز مبلغ الاجازة الحد المسموح به |
| 22 September 2013 | Investment Bank of Iraq | $3 million | $7.6 million | Old or invalid invoice; Problem with the import licence | تسلسل 3 في كشف الحوالات لتجاوز مبلغ الاجازة المقدمة الحد المسموح به |
| 26 September 2013 | Investment Bank of Iraq | $2.5 million | $5.4 million | Old or invalid invoice; Problem with the import licence | تسلسل 3 في كشف الحوالات لتجاوز مبلغ الاجازة |
| 29 April 2013 | North Bank for Finance & Investment | $2.2 million | $10 million | Old or invalid invoice; Held back for audit | لمستفيدة 2- تاريخ الفاتورة قديم 1-يقدم الى مديرية الاستثمارات لغرض فتح اعتماد 2- لاغراض تدقيقية تتعلق برقم |
| 11 September 2013 | BankMed SAL (Iraq) | $2.2 million | $5.3 million | Old or invalid invoice; Problem with the import licence | تجاوز مبلغ الاجازة |
| 9 January 2013 | Investment Bank of Iraq | $2 million | $2 million | Old or invalid invoice | كون الفاتورة قديمة |
| 23 April 2013 | Mosul Bank for Development & Investment | $2 million | $10.9 million | Old or invalid invoice | رقم وتاريخ الفاتورة قديم |
| 28 April 2013 | Mosul Bank for Development & Investment | $2 million | $7 million | Old or invalid invoice | تاريخ الفاتورة قديم |
| 16 April 2013 | Iraqi Islamic Bank for Investment & Development | $1.9 million | $4.4 million | Old or invalid invoice | تجاوز مبلغ الفاتورة في التعليمات |
| undated | National Islamic Bank | $1.9 million | $10.5 million | Old or invalid invoice; Problem with the import licence; Missing or faulty documents | تسلسل 2 لعدم وجود اجازة استيراد تسلسل 5 لتجاوز مبلغ الاجازة |
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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.