'UAE.Black Premium'


ABU DHABI: BEHIND THE 'BANK OF CROOKS AND CRIMINALS'


ABU DHABI: BEHIND THE 'BANK OF CROOKS AND CRIMINALS: The chapter on BCCI's early history recounts the relationship between BCCI and Abu Dhabi, which began when Agha Hasan Abedi, the head of the United Bank of Pakistan, formed BCCI with the support of Sheikh Zayed of Abu Dhabi, who had been installed as the leader of the newly wealthy oil state in 1966 through a British-led coup against his brother.

BCCI's strategy for asset growth worldwide included bribery from its earliest days, according to the chapter on BCCI's bribery activities. One view is that the Abu Dhabi Investment Authority (ADIA)'s penchant for secrecy, which was established in 1976 to channel the Emirate's surplus oil revenues into profitable investments, stemmed from its experience during the BCCI businesses.

The chapter on BCCI's support of terrorism and arms trafficking describes how the bank's position as a principal financial institution for several Gulf sheikhdoms made it a logical choice for terrorist organizations to seek support for arms trafficking and terrorism.

In the chapter describing BCCI's involvement in prostitution, the establishment of a special protocol department in Pakistan to cater to the personal requirements of the Al-Nahyan family of Abu Dhabi and other VIPs of BCCI led to the bank's participation in prostitution.


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