Bank of Credit and Commerce International Was not Agha Hasan Abedi’s first banking sector venture he founded UBL in 1959, Agha hasan Abedi after leaving HBL he became president of UBL and made it the 2nd largest bank in Pakistan .In 1972 when Bhutto nationalized entire banking and commercial sector in Pakistan .Agha Hasan Abedi founded Bank of credit and commerce intentional (BCCI) .Bank was intialy had it’s headquarters in a small European country Luxembourg .Bank of America was the major shareholder of the bank .Bank had head-offices in London and Karachi as well .Within years bank become and global bank and challenging the like of world leading banks .BCCI once had assets of $20billion and 400 branches worldwide .Bank was going really good but sadly then it was hit by serious allegation of funding terrorist money laundering and other activities that were illegal by banking standards .The CIA and regulators led investigations uncovered serious allegations and the presented the report Named as the Sandstorm report in 1991 .After the result of report regulators raided the bank due and took over the operations. Losses were reported to be near 18 to 20 billion us Dollars .Deloitte & touche had recovered some of the losses of the bank . Bank was also accused of funding Pakistan’s national Nuclear program during the scandal. Before branding Mr Hasan Abedi a complete crook you have check his work for Pakistan .
Agha Hasan Abedi was and will be seen a Man who founded the Core world class educational institution of Pakistan .Agha Hasan Abedi donated Rs 100 million for the development of science and technology in Pakistan .He found Fast university in 1980 with the name of BCCI Fast .He was also the mastermind behind founding the Ghulam ishaq institute of of engineering science and technology .Orangi Pilot project was also the brainchild of Agha hasan Abedi .To many Pakistani’s Agha hasan abedi’s stint as BCCI Chairman remain hugely popular as majority of people working at the bank consider BCCI a victom of west because Agha wanted to bring change in banking sector dominated by west .BCCI at one stage become world’s 7th largest bank .
The conventional definition of management is getting work done through people, but real management is developing people through work.
Agha Hasan Abedi
Fans of Agha Hasan Abedi put’s BCCI a victim of it’s success and west hatred toward Arab majority owned bank.One thing is sure Agha Hasan Abedi was the pioneer of Pakistani banking sector .He enjoyed a mixed legacy overall his legacy and work for Pakistan was overshadowed by scandal in his last days of his life.
15 years after his death in 2015,President of Pakistan Mamnoon Hussian awarded Hilal-e-Imtiaz the 2nd highest award that can be awarded to civilians for his serious to Pakistan .A former employ of Agha Hasan Abedi’s bank BCCI Masih ur Rehman describes him as equally good and evil. He will go down as one of the finest bankers produced by Pakistan ever.