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.

单词	bank of credit and commerce international
释义	Bank of Credit and Commerce International 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. AcronymsSeeBCCI
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