Mr Agha Hasan Abedi, the President of Bank of Credit and Commerce International (BCCI), founded the bank in Luxembourg in 1972. At its peak BCCI had a global presence in 73 countries. Mr Abedi was a seasoned banker and possibly the only corporate executive at the time to visualise the challenges posed to the Third World, the Global South, in the 21st century. His unique approach in management and relationships was the inspiration for a new generation of bankers to take their rightful place in the world of international banking and challenge the supremacy of western banks. Mr Abedi established and supported institutions and various projects for the advancement of the people of the Third World, in particular in education, health and agriculture. In 1991 BCCI was abruptly shut down by western central banks.