The closure of BCCI in July 1991 gave rise to a wide range of serious allegations against the bank that have shaped global public perception for decades. These allegations - including claims that BCCI was a bankrupt bank, engaged in money laundering, financed terrorists, and represented the biggest bank fraud in history - became deeply embedded in public discourse and played a major role in how BCCI came to be portrayed internationally.
Because this subject is extensive and involves multiple reports, publications, media narratives, and competing interpretations, a dedicated section under Perspective examines these allegations in greater depth, including the Section 21 Price Waterhouse report, the Financial Times Behind Closed Doors series f articles, US Senate report and hearings, selected books and wider post-closure narratives. Many of these sources emerged during or after BCCI’s closure and significantly influenced the historical narrative surrounding the bank.
For a fuller examination, readers are encouraged to explore the dedicated Key Allegations, Reports and Narratives section under Perspective:
View detailed section: Key Allegations, Reports and Narratives