Friday, October 17, 2008

Big bang financial crisis

1) Bank of Credit & Commerce:

This Luxembourg-registered bank was founded in London in ’72 by a Pakistani financier.

The bank collapsed in ’91 after action by regulators from the US and the UK after it was found that the bank had almost $13 billion in unaccounted money.

The bank’s Indian operations were taken over by SBI.

For the slide show, please, visit --The Economic Times

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