Modern History Project

"A little learning is a
dangerous thing"

Bank of Credit and Commerce International (BCCI)


Luxembourg, Financial Org    (1972 to 1991)
• International bank founded by Agha Hasan Abedi of Pakistan, with branches worldwide. Many wealthy middle eastern clients.
• 1992-12 : Senate Foreign Relations Committee report on BCCI, including an in-depth history of its founding and later scandals. (See: The BCCI Affair)
• 1995-10 : Article on BCCI involvement in the 1980's Afganistan war (See: Jeffrey Steinberg article)
• 2004 : Articles on the relationship between BCCI and the Bank of England (See: AABA articles)
• 2004 : Article on the investigation of BCCI
Relationships
1970 1980 1990
binMahfouzKDirector
 
BathJRDirector
 
NoriegaMAClient
 
FirstAmBankAffiliate
 
UnBankSwissAffiliate
 
BankAmericaAffiliate
 
Life ofBCCI
 
Related Entities -- click to view
bin Mahfouz, Khalid   (Director of, 1986 to 1989) -- Duck | Google | Bing
• A major investor and shareholder in the bank (dates and percentage owned uncertain)
• 1986 : A "non-executive" Director of the Bank (1986-89)
• 1993 : Paid fine of $225M as a result of U.S. Government investigation of his role in the BCCI collapse (See: 1992 Congressional report)
Bath, James R.   (Director of, dates uncertain) -- Duck | Google | Bing
• 2002 : Article about BCCI, James Bath, etc.
Noriega, Manuel   (Client of, dates uncertain) -- Duck | Google | Bing
First American Bankshares   (Affiliate of, 1981 to 1991) -- Duck | Google | Bing
• 1981 : BCCI obtains controlling interest in First American Bankshares.
Union Bank of Switzerland (UBS)   (Affiliate of, dates uncertain) -- Duck | Google | Bing
• Joint venture partners -- Duck | Google | Bing
Bank of America   (Affiliate of, 1972 to 1991) -- Duck | Google | Bing
• 1972 : Provided $2.5M initial capital for BCCI startup. Held a major share in the company until the early 1980s.
• 2004 : Legal action against BofA for its involvement with BCCI (See: Economist article)