Perspective

Decades after the closure of the Bank of Credit and Commerce International (BCCI), after nearly 20 years of operation, important questions remain about how the Bank was supervised, judged and ultimately buried alive after an Abu Dhabi-backed restructuring had been agreed in principle and was then suddenly abandoned by the Bank of England. This section revisits the evidence, allegations, regulatory decisions, restructuring and the justifications given for the abrupt closure - issues at the heart of the proposed book Verdict Deferred.