BCCI the Bank
Bank of Credit and Commerce International (BCCI) was founded in 1972 in Luxembourg with its central office in London, United Kingdom. and had over 450 branches and offices in 73 countries. BCCI's college of regulators in the West took the unilateral decision in 1991 to dramatically shut down the bank worldwide without notice, while they were still in discussion about a restructuring plan with BCCI's management and the bank's majority shareholders, the ruling family of Abu Dhabi, United Arab Emirates. A U.N. study in 1992 attacked the way BCCI was shut down by western central banks. The governments in some countries allowed the local operations of BCCI to continue under a new name.