Agha Hasan Abedi (May 14, 1922, Lucknow - Aug 5, 1995, Karachi) was a leading banker in Pakistan. He founded the Bank of Credit and Commerce International (BCCI) in 1972. BCCI, at one point the seventh largest private bank in the world, collapsed in 1991 after an international effort had exposed it as a massive criminal enterprise. May 14 is the 134th day of the year (135th in leap years) in the Gregorian calendar. ... Year 1922 (MCMXXII) was a common year starting on Sunday (link will display full calendar). ... The Chhota Imambara in Lucknow , Lucknow ( , Hindi: लखनऊ, Urdu: لکھنؤ, ) is the capital city of Uttar Pradesh, the most populous state of India. ... August 5 is the 217th day of the year in the Gregorian Calendar (218th in leap years), with 148 days remaining. ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... Karachi (Urdu: , Sindhi: ) is the capital of the province of Sindh, and the largest city in Pakistan. ... BCCI in London was closed by the Bank of England in 1991 after evidence emerged of fraud and money laundering. ... Year 1972 (MCMLXXII) was a leap year starting on Saturday (link will display full calendar) of the Gregorian calendar. ... Private banks are banks which are not incorporated, and hence the entirety of their assets is available to meet the liabilities of the bank. ...

Life

Early Banking Career

Agha Hasan Abedi was born in Lucknow, India, and migrated to Pakistan after the partition of India, in 1947. Beginning his career with Habib Bank before independence, he brought about significant changes in Pakistan's banking culture when he founded the United Bank Ltd (UBL) in 1959. Starting as its first general manager, he quickly rose to the position of president and chairman of the board of directors. Under his stewardship, UBL became the second largest bank in Pakistan. Mr Abedi introduced a host of professional innovations, including the concept of personalised service and banking support to trade and industry, paying particular attention to the bank's overseas operations. One of the first to comprehend the opportunities offered by the oil boom in the Gulf, Mr Abedi pioneered close economic collaboration in the private sector between Pakistan and the United Arab Emirates (UAE). The UAE President, Sheikh Zayed bin Sultan Al Nahayan, extended his patronage to UBL operations both in Pakistan and abroad. This article is under construction. ... Year 1947 (MCMXLVII) was a common year starting on Wednesday (link will display full 1947 calendar) of the Gregorian calendar. ... Habib Bank Limited (commonly referred to as HBL) is the largest bank in Pakistan and a thoroughly established banking chain throughout the world. ... United Bank Limited (UBL) is one of the largest commercial banks in Pakistan having more than 1,000 branches inside the country and 15 branches outside the country. ... Osama bin Laden Usāmah bin Muhammad bin `Awad bin Lādin (born March 10, 1957 or July 30, 1957) (Arabic: أسامة بن محمد بن عود بن لادن), commonly known as Osama bin... Year 1959 (MCMLIX) was a common year starting on Thursday (link will display full calendar) of the Gregorian calendar. ... In relation to a company, a director is an officer (that is, someone who works for the company) charged with the conduct and management of its affairs. ... UAE redirects here; for other uses of that term, see UAE (disambiguation) The United Arab Emirates is an oil-rich country situated in the south-east of the Arabian Peninsula in Southwest Asia, comprising seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. ... Sheikh Zayed Sheikh Zayed bin Sultan Al Nahyan (Arabic:الشيخ زايد بن سلطان أل نهيان)‎, (1918 — 2 November 2004), the principal architect of the seven United Arab Emirates, was the moderate...

BCCI years

When banking was nationalised in Pakistan in 1972, Mr Abedi founded the Bank of Credit and Commerce International with the Bank of America NT & SA as a major shareholder. Registered in Luxembourg, the BCCI began its operations from a two-room head office in London. Over the years, it developed into a world-wide banking operation with branches in 72 countries and 16,000 employees on its payroll. Mr Abedi was personally responsible for inducting a large number of Pakistanis into the field of international banking and almost 80 per cent of the BCCI's top executive positions at the head office and in branches in various countries were held by Pakistanis. However, for all his pioneering role and successes, Mr Abedi's banking practices were questionable. This eventually led to the downfall of the BCCI starting in 1989, when an extensive probe began into its dealings world-wide. Mr Abedi severed his connection with BCCI in 1990 after suffering a heart attack and lead a retired life in Karachi until his death of heart failure at Karachi's Aga Khan hospital in 1995. After the collapse of the BCCI in 1991, Abedi, accused of perpetrating the largest financial fraud in history, had been indicted for theft and other charges in the United States, but the Nawaz Sharif government had declined to extradite him. Year 1972 (MCMLXXII) was a leap year starting on Saturday (link will display full calendar) of the Gregorian calendar. ... BCCI in London was closed by the Bank of England in 1991 after evidence emerged of fraud and money laundering. ... A shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. ... BCCI in London was closed by the Bank of England in 1991 after evidence emerged of fraud and money laundering. ... This article is about the capital of England and the United Kingdom. ... Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ... Acute myocardial infarction (AMI or MI), more commonly known as a heart attack, is a disease state that occurs when the blood supply to a part of the heart is interrupted. ... This article is about the hereditary title. ... Mian Muhammad Nawaz Sharif (Urdu/Kashmiri: میاں محمد نواز شریف ) was born on December 25, 1949 in Lahore, Punjab, Pakistan. ...

BCCI had an interesting structure. It was comprised of an elaborate corporate tangle, with BCCI's founder, Agha Hasan Abedi and his assistant, Swaleh Naqvi, in the center. This convoluted structure was an essential component to its amazing growth -- and guaranteed its eventual collapse. The structure was conceived of by Abedi for the specific purpose of evading regulation or control by governments. It also functioned to frustrate the full understanding of BCCI's operations by anyone.

Unlike regular banks, the BCCI was from its inception made up of multiplying layers of interwoven entities -- which related to one another through a near impenetrable series of holding companies, affiliates, subsidiaries, banks-within-banks, insider dealings and nominee relationships. BCCI's fractured corporate structure, record keeping, regulatory review, and audits, allowed the complex BCCI family of entities created by Abedi to evade ordinary legal restrictions on the movement of capital and goods. In creating BCCI as a vehicle essentially free of government control, Abedi's BCCI became the ideal mechanism for facilitating illegal activity by others, including such activity by officials of many of the governments whose laws BCCI was breaking. A holding company is a company that owns part, all, or a majority of other companies outstanding stock. ...

BCCI key mistake was to become party to the global world of real politics.By working with CIA in Aghan Jehad it allowed itself to bee penetrated with CIA operatives.It was pretty clear to analysts that the BIG BOYS of financial world would not allow a third worrld up-start bank to reach the number seven status.With Abedi openly talking of making BCCI world largest bank it was evident that he was becoming a direct threat to those who run the world financial systems. A masssive financial, media campaign was then launched to bring an end to this third world financial threat. A unique arrray of of forces including CIA,MOSSAD, MI6,Bank of England,Rotshild & few other jewish led private banks backed by massive media campaign thru. all major magazines & news channels participated in the Operation BCCI.

However, as a testimony to the military nature of this operation the first & foremost step was to take out the centre of gravity ii.e. Agha Hassan Abedi.In the year 1989 Agha suffeered a a massivee heart attack despite having no history of heart ailment.With Napolean being paralyzed it was far easier for the CIA & Mossad operatives to start the sting operation from inside.First few BCCI offficials got caught and then rather then contesting the case they immediately accepted all charges (Something a fighhting Agha Hassan Abedi would have never done) Thhis was then taken as enough evidence by Bank of England to close down the shutters despite the fact the Sheikh Zaid of UAE had allready given all the financial guarantees.A mediia storrm was launched that totally forbade any rational discussion on the episode and BCCI became sucha satanic name that any rational investigation became impossible.

For supporting CIA BCCI systematically bribed official and political figures around the world, and defrauded it customers of billions.Imagined crimes included money laundering in Europe, Africa, Asia, and the Americas; support of arms trafficking, and the sale of nuclear technologies; management of prostitution; the commission and facilitation of income tax evasion, smuggling, and illegal immigration; illicit purchases of banks and real estate; and a number of financial crimes limited only by the imagination of its officers and customers. This, however, was a false accusation on the name of Mr.Abedi^{[citation needed]}. Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and destination of the money in question. ... Tax avoidance is the legal utilization of the tax regime to ones own advantage, in order to reduce the amount of tax that is payable by means that are within the law. ... Illegal immigration refers to immigration across national borders in a way that violates the immigration laws of the destination country. ...

Philanthropist

Agha Hassan Abedi Auditorium Ghulam Ishaq Khan Institute of Engineering Sciences and Technology on the event of 8th Science fair 2007

Mr Abedi sponsored the establishment of the BCCI Foundation (now Infaq Foundation) in Pakistan which provides help and assistance to writers, scholars, artists and poets. The Foundation once had branch offices in Delhi and Dhaka. The Infaq Foundation, with its head office in Karachi, has funds estimated at about 1.30 Billion Rupees (approx. $60.67 million) at its disposal. Major beneficiaries among the known institutions are, Sind Institute of Urology and Transplantation, National Institute of Cardio Vascular Diseases - Karachi, GIK Institute of Engineering Sciences & Technology, Topi, NWFP, Lady Duffirin Hospital and Sir Syed University of Engineering and Technology, Karachi. President Ghulam Ishaq Khan was the first Chairman of the Foundation from 1983 through 1995. Another eminent personality - Fakhruddin G Ibrahim took over and is now the Chairman. Image File history File links Metadata Size of this preview: 800 × 599 pixelsFull resolution (2288 × 1712 pixel, file size: 1. ... Image File history File links Metadata Size of this preview: 800 × 599 pixelsFull resolution (2288 × 1712 pixel, file size: 1. ... Ghulam Ishaq Khan (GIK) Institute of Engineering Sciences and Technology - GIKI is one of the premier institutes of higher learning in Pakistan. ... , Delhi ( , Hindi: , Punjabi: , Urdu: ) sometimes referred to as Dilli, is the second-largest metropolis in India after Mumbai with a population of 13 million. ... Dhaka (previously Dacca; Bengali: Ḍhākā; IPA: ) is the capital of Bangladesh and the principal city of Dhaka District. ... Ghulam Ishaq Khan (GIK) Institute of Engineering Sciences and Technology - GIKI is one of the premier institutes of higher learning in Pakistan. ... Binomial name Damaliscus lunatus Burchell, 1823 Topi standing in Masai Mara The Topi, or Tsessebe, as it is called in Southern Africa, (Damaliscus lunatus also known as Tiang or Korrigum) is a savannah and floodplain antelope found in Sudan, Chad, Kenya, Tanzania, and Southern Africa. ... North-West Frontier Province (NWFP) is geographically the smallest of the four provinces of Pakistan. ... Sir Syed University of Engineering & Technology is located in Karachi, Sindh, Pakistan. ... Ghulam Ishaq Khan (abbreviated as GIK) (Urdu: غلام اسحاق خان) (January 20, 1915 - October 27, 2006) was President of Pakistan from August 17, 1988 until July 18, 1993. ... Year 1983 (MCMLXXXIII) was a common year starting on Saturday (link displays the 1983 Gregorian calendar). ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ...

He also founded BCCI FAST Foundation to promote technological education in computer science. Its endowment funds produced Degree Colleges in Islamabad, Lahore and Karachi. Islamabad (Urdu: اسلام آباد) is the capital city of Pakistan, and is located in the Potohar Plateau in the northwest of the country. ... Lahore (Urdu: لاہور, Punjabi: لہور, pronounced ) is the capital of the province of Punjab, and is the second most densely populated city in Pakistan. ... Karachi (Urdu: , Sindhi: ) is the capital of the province of Sindh, and the largest city in Pakistan. ...

Trivia

• Agha Hasan Abedi Auditorium at GIK Institute, Pakistan, was named after him
• The Gold Medal at the National University of Computer and Emerging Sciences (FAST), awarded to the highest CGPA Holder of the batch, is known as the Agha Hasan Abedi Gold Medal.
• His London home was in the London outskirts, in the affluent Harrow-on-the Hill, and was previously owned by Anthony Trollope

Ghulam Ishaq Khan (GIK) Institute of Engineering Sciences and Technology - GIKI is one of the premier institutes of higher learning in Pakistan. ... National University of Computer and Emerging Sciences (NUCES or NU) is a University in Pakistan with headquarters at Islamabad and campuses at Karachi, Lahore, Islamabad and Peshawar. ... Anthony Trollope (April 24, 1815 – December 6, 1882) became one of the most successful, prolific and respected English novelists of the Victorian era. ...

External links

Biographical

• Agha Hasan Abedi, Salaam
• Agha Hasan Abedi passes away, Dawn wire service

About BCCI

• The BCCI Affair, Federation of American Scientists (www.fas.org)

Misc

• About Foundation for Advancement of Science and Technology (FAST), National University
• Genesis, GIK Institute