A BRIEF HISTORY OF A LEGENDERY BANK IS COPIED BELOW FROM WIKIPEDIA. The Bank of Credit and Commerce International (BCCI) was a major international bank founded in 1972 by Agha Hasan Abedi, a Pakistani financier. The Bank was registered in Luxembourg with head offices in Karachi and London. Within a decade BCCI touched its peak. It operated in 78 countries, had over 400 branches, and had assets in excess of US$20 billion, making it the 7th largest private bank in the world by assets. BCCI came under the scrutiny of numerous financial regulators and intelligence agencies in the 1980s due to concerns that it was poorly regulated. Subsequent investigations revealed that it was involved in massive money laundering and other financial crimes, and illegally gained controlling interest in a major American bank. BCCI became the focus of a massive regulatory battle in 1991 and on July 5 of that year customs and bank regulators in seven countries raided and locked down records of its branch offices. Investigators in the U.S. and the UK revealed that BCCI had been "set up deliberately to avoid centralized regulatory review, and operated extensively in bank secrecy jurisdictions. Its affairs were extraordinarily complex. Its officers were sophisticated international bankers whose apparent objective was to keep their affairs secret, to commit fraud on a massive scale, and to avoid detection." The liquidators, Deloitte & Touche, filed a lawsuit against Price Waterhouse and Ernst & Young – the bank's auditors – which was settled for $175 million in 1998. A further lawsuit against the ruling Sheikh of Abu Dhabi, a major shareholder, was launched in 1999 for approximately $400 million. BCCI creditors also instituted a $1 billion suit against the Bank of England as a regulatory body. After a nine-year struggle, due to the Bank's statutory immunity, the case went to trial in January 2004. However, in November 2005, Deloitte persuaded creditor Abu Dhabi to drop its claims against the Bank of England, except for a claim for return of its deposits, in that Abu Dhabi owned 77% of the bank shares at closing, and was therefore also facing a major lawsuit.  To date liquidators have recovered about 75% of the creditors' lost money. A decade after its liquidation, its activities were still not completely understood. I HAD A LONG CHAT TODAY WITH AN EX HIGH LEVEL OFFICER OF BCCI. HE TOLD ME THAT THIS BANK WAS COMPETING IMF AND WORLD BANK AT THE TIME OF ITS CLOSURE. IT WAS TARGETED BY JEWISH BANKING LOBY AND ITS WAS SURELY WRONGFULLY ACCUSED BY THE REGULATORY AUTHORITIES UNTILL IT WAS FORCED TO LIQUIDATE. HE ALSO MENTIONED THAT IF THAT BANK WOULD HAVE EXISTED IT COULD HAVE PLAYED A MAJOR ROLE IN DEMONOPOLIZING THE WORLD BANK AND IMF HENCE THE DECISION MAKING REGARDING THE MORNETERY POLICIES AND EVEN STRATEGIC POLICIES OF KEY MUSLIM COUNTREIS COULD HAVE BEEN IN THEIR OWN HANDS INSTEAD OF IMF OR WORLD BANK. ^ I have never heard about this before, and found this through WUP (WakeUPProject). Personally, i am never favor of system that promotes interest which unfortunately dominate in every nations of today world now. But did provide great competition to Jewish Banking System. Unfortunate, it wasn't his destiny to succeed.