Tuesday, March 25, 2008

Bank of Credit and Commerce International

The Absolute is the totality of things; all that is, whether it has been discovered or not. It is usually conceived of as a unitary state of the external cosmos and internal spiritual consciousness — at least insofar as it can be acknowledged by the human mind — and is intelligible. In some varieties of philosophy, the Absolute describes ultimate reality. It contrasts with finite things, considered individually, known collectively as Relative.

The photo is of one of the group conferences of the Bank of Credit and Commerce International (also known as BCC). The facts found on internet for BCC are very much screwed up, one of the reason I personally think, is that the whole company was put to end in a rampage in just five days. Consider a company having branches in 78 countries and being the 7th bank asset-wise world wide, and the completely is no more in JUST five days.

The other reason, is obviously the fabrication of facts. Many agencies around the world destroyed this financial empire in unison, and hence it must have not been a very hard task for them to destroy the facts.

BCC was a bank of excellence, and its founder, Agha Hasan Abedi was a devoted personality par excellence. He joined Habib Bank at the time of partition of the South Asia in 1947, created a bank which is now one of the leading banks in Pakistan named as United Bank Limited(UBL) in 1959 and then created BCC which started its operation from London in 1972 and took over the banking world in just ten years.

Apart from these developments, he founded many philanthropist institutions. Foundation for Advancement of Science and Technology (FAST) and Infaq Foundation are a couple of his creations, and many other institutions were supported by BCC.

BCCI was closed in 1991 by the United States and United Kingdom's government agencies.

Agha Hasan Abedi died in Karachi, Pakistan, in 1993.

May his soul rest in peace, with Totality.