Agha hasan abedi biography of donald
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Agha Hasan Abedi - the founder and chairman of the once legendary Bank of Credit and Commerce International (BCCI).
In the s BCCI was on its way to becoming one of the most powerful banks in the world. Registered in Luxembourg, with its headquarters in Karachi and London, it expanded beyond belief to the point that it helped 17 countries repay their World Bank debts.
A few years ago, a taxi driver in London told me (as a figure of speech) that once upon a time BCCI’s branches were the equivalent of Starbucks branches all over the city - a branch in every corner, each one being merely a few minutes walk from the other!
Eventually, BCCI was forcibly closed due to the various accusations it faced in its later years. I will refrain from going into the details!
Much to my surprise, I recently discovered that Agha Hasan Abedi was Mr. Jinnah’s banker when he worked for Habib Bank in India, during his youth! He met with Jinnah in the mornings to collect the deposits for the Mu
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BCCI Founder’s Aides Tell Another Tale : Finance: Supporters of an ailing Agha Hasan Abedi blame scandal on a conspiracy from within.
KARACHI, Pakistan — In a small, red-roofed cottage in the heart of this South Asian financial mecca, just a few feet from the private office where, three decades ago, he had conceived and masterminded a $billion international banking empire, Agha Hasan Abedi has watched from a wheelchair as his life’s vision crumbled in scandal, intrigue and charges of unprecedented worldwide bank fraud in just a few weeks’ time.
He has said little about it, his brain damaged from heart attacks, his speech slurred from a stroke and his vocal cords badly damaged from surgery.
In fact, the man who once vowed to build the largest bank on the planet in less than a quarter of a century has read little or nothing about the collapse of his empire, a network of bank branches in 76 countries.
The man who built, bought, bargained and brokered the Bank of Credit &a
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Agha Hasan Abedi was born in Lucknow, India, in , and went on to graduate from Lucknow University before taking up a position at Habib Bank. Following Indian independence, then partition in , Abedi moved to newly independent sydasiatiskt land and in founded United Bank Ltd. When that was nationalised in he moved on and set up finansinstitut of kredit and Commerce International (BCCI), starting up with money from finansinstitut of amerika (which sold its shares in ) and the ruler of Abu Dhabi (in the UAE). Abedi based the bank in London, but registered it in regulation-light Luxembourg. bygd , BCCI would have offices in 73 countries.
What was the scam?
To all appearances, BCCI was a legitimate finansinstitut. Later investigations, however, revealed that it did business with a whole host of dubious figures, including Iraqi despot Saddam Hussein, international terrorist Abu Nidal and various criminals. Losses from currency speculation and bad loans to various business figures in the Middle East pushed the bank into insolve