Bank of Credit and Commerce International |
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Pakistan |
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| Rate the Bank of Credit and Commerce International - Pakistan connection |
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| The Bank of England shuts down Bank of Credit and Commerce International (BCCI), the largest Islamic bank in the world. Based in Pakistan, this bank financed numerous militant organizations and laundered money generated by illicit drug trafficking and other illegal activities, including arms trafficking. Bin Laden and many other militants had accounts there. [Detroit News, 9/30/2001] | | Submitted by fedup | 2007-04-21 19:04:31 | One money-laundering expert claims, “BCCI did dirty work for every major terrorist service in the world.” [Los Angeles Times, 1/20/2002] American and British governments were aware of its activities yet allowed the bank to operate for years. The Pakistani ISI had major connections to the bank. However, as later State Department reports indicate, Pakistan remains a major drug trafficking and money-laundering center despite the bank’s closing. [Detroit News, 9/30/2001] “The CIA used BCCI to funnel millions of dollars to the fighters battling the Soviet occupation of Afghanistan” according to the Washington Post. A French intelligence report in 2001 suggests the BCCI network has been largely rebuilt by bin Laden (see October 2001). [Washington Post, 2/17/2002] The ruling family of Abu Dhabi, the dominant emirate in the United Arab Emirates, owned 77 percent of the bank. [Los Angeles Times, 1/20/2002]
Entity Tags: Bank of Credit and Commerce International, Bank of England, Central Intelligence Agency, Osama bin Laden, Pakistan Directorate for Inter-Services Intelligence
Timeline Tags: Complete 911 Timeline
http://www.cooperativeresearch.org/context.jsp?item=western_support_for_islamic_militancy_202707#western_support_for_islamic_militancy_202707
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