Bank of Credit and Commerce International

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Bank of Credit and Commerce International

More commonly called BCCI. An international bank established in Pakistan, headquartered in London, and registered in Luxembourg. Its operations were structured to avoid regulation by any single authority. It was founded in 1972 with investments from the Emir of Abu Dhabi and Bank of America. It grew rapidly, making major loans and seeking deposits from high net-worth individuals. It became the seventh largest bank in the world. Because it was so poorly regulated, it was able to commit massive fraud, as well as deal with terrorist groups and questionable government operations. These crimes were ultimately exposed in 1991, and BCCI shut down, though lawsuits involving it continued for more than a decade.
References in periodicals archive ?
Ultimately he was assisting Srinivasan in his role in BCCI.
Meanwhile, BCCI said Pakistan-India matches, outside of the ICC events, cannot be organised due to a lot of factors.
The BCCI had signed a MoU in 2014 which had six home and away series during the 2015-2023 cycle.
The BCCI had insisted from the beginning that every member above the age-group of 70 years should be allowed to continue.
The members wished to look into the law articles of Decree 48, for possibilities to revise or amend them to suit to the current situation of the BCCI," Dr Al Ruwaihi told the GDN.
PCB has told BCCI it is suing for compensation against BCCI's refusal to play bilateral series as per the agreement signed in 2014,' Sethi said after the ICC meeting in Dubai, which also outvoted the Big Three and India's dominance in ICC.
According to the new revenue distribution for the cycle 2016- 2023, based on current forecasted revenues and costs, BCCI will receive $ 293m across the eight year cycle, ECB $ 143m, Zimbabwe Cricket $ 94m and the remaining seven Full Members $ 132m each.
The ICC had pulled out Rauf from the 2013 Champions Trophy also as the BCCI said the Pakistani umpire was under police investigation, Cricket Country reported.
The Indian Express said Shiv Sena workers shouted anti-Pakistan slogans ahead of a meeting between PCB and BCCI officials over resumption of cricket ties.
BCCI honorary joint secretary Anurag Thakur - who is also the president of the Himachal Pradesh Cricket Association (HPCA), the local governing body - is now urging strong action.
The BCCI President has indefinitely suspended RCA from participating in any BCCI activity.
According to a press statement with reference to the BCCI s Honorary Secretary - Sanjay Jagdale, the board had obtained a lawyer s notification summoning negotiation from Deccan Chronicle Holdings, the owner of the franchise, claiming that it had not violated any rules, and even supposing that there were some infringements, the BCCI must not proceed with finishing the franchise deal till adequate money to heal the violations is provided by the Yes Bank.