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Bank of Credit and Commerce International 1972–1991

  • Key Events
    • 1972 - Establishment and Early Development
    • 1978 - Bank of America Divestment & Staff Benefit Trust
    • 1978–1979 – Third World Foundation & Global South Vision
    • 1978 onwards - BCCI Foundations & Development Programmes
    • 1977 - 1982 - US Expansion & First American Bankshares
    • 1980s - Regional Training & Management Development
    • 1986 - 1990 - Global 2000 & International Development
    • 1984 - 1986 - BCCI Central Treasury Losses
    • 1987 - From Licensed Deposit-Taker to Authorised Bank
    • 1988 - 1990 - Money-Laundering Indictment & Settlement
    • 1990 - Internal Task Force Investigation & Disclosure to the Bank of England
    • 1990 - 1991 - Abu Dhabi Majority Shareholding & Restructuring Programme
    • 5 July 1991: The Day BCCI Was Shut Down
    • 1991 onwards: Liquidation - Beyond the Headlines
    • 1992: The Bingham Report - Inquiry into the Supervision of BCCI
    • Key Allegations
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Abu Dhabi Majority Shareholding & Financial Support

The Bingham Report on the Inquiry into the Supervision of BCCI records that the majority shareholders’ financial support package increased their potential support for BCCI to approximately US$5.1 billion.

This package included Abu Dhabi Government promissory notes of US$3.061 billion, a guarantee of US$750 million, a subscription for new shares, and provision for the replacement of unrecorded deposits US$$600 million,  if the underlying claims were substantiated.

Although the package was finally signed in May 1991, the promissory notes and guarantee were to take effect as if the agreement had been made on 29 December 1990.

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  • 1972 - Establishment and Early Development
  • 1978 - Bank of America Divestment & Staff Benefit Trust
  • 1978–1979 – Third World Foundation & Global South Vision
  • 1978 onwards - BCCI Foundations & Development Programmes
  • 1977 - 1982 - US Expansion & First American Bankshares
  • 1980s - Regional Training & Management Development
  • 1986 - 1990 - Global 2000 & International Development
  • 1984 - 1986 - BCCI Central Treasury Losses
  • 1987 - From Licensed Deposit-Taker to Authorised Bank
  • 1988 - 1990 - Money-Laundering Indictment & Settlement
  • 1990 - Internal Task Force Investigation & Disclosure to the Bank of England
  • 1990 - 1991 - Abu Dhabi Majority Shareholding & Restructuring Programme
  • 5 July 1991: The Day BCCI Was Shut Down
  • 1991 onwards: Liquidation - Beyond the Headlines
  • 1992: The Bingham Report - Inquiry into the Supervision of BCCI
  • Key Allegations
  • The Founder
  • Perspective
  • Common Questions
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This website is maintained by former BCCI employees to provide information for students, researchers, former employees, families and others seeking to understand BCCI’s history, operations, the controversy surrounding its closure, and the Founder’s vision. Not an official publication of BCCI or its liquidators. [Corrections and right of reply] 

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