Financial genius: Agha Hasan Abedi
Start of career and subsequent achievements.
Charitable organizations
Rabia Abedi was Hasan Abedi’s wife. Maha, the couple’s daughter, was born to them. Abedi was a well-known Muslim mystic despite being born into a Shia Muslim family. He would spend hours discussing his mystical views during his talks at BCCI Bank meetings. BCCI, he claimed, was not simply a bank, but a god-given entity with direct access to the universe.
Financial Genius
International media termed him as “financial genius”, a slight glimpse of his genius can be understood by reading the following paragraphs. By the late 1980s, the BCCI group had exploded into a $50 billion behemoth, with $25 billion in its own books and another $25 billion in the accounts of its sister firms, including the First American Bank, the National Bank of Georgia, and the Saudi Arabian Independence Bank. It had offices in more than 90 countries across all five continents. This expanding banking association was controlled and run by third-world countries, the bulk of which were Muslim. Agha Hasan Abedi, the BCCI’s generous, astute, and foresighted President, founded the bank with the intention of using it as a bridge between the developed Western World and the Third World by reallocating economic resources from one to the other. The bank met its goal and frequently delivered critical money to countries in Asia, Africa, and South America. Through “bridge finance,” the BCCI assisted them in meeting IMF criteria. The IMF and other leaders in the Western banking sector were enraged by this. The main source of annoyance was its developing capacity to compete effectively in both “flight capital” and trade finance markets.
Former US President Jimmy Carter established another foundation, “Global 2000,” which was funded by a $20 million contribution from the BCCI. This foundation was created to improve the world’s economic, demographic, and environmental future. The BCCI also established the “BCCI Foundation,” which is based in Pakistan. This was paid for with profits from BCCI branches in Pakistan, and it was used to fund local education, healthcare, and housing. The Third World Foundation’s South Magazine served as a forum for intellectual debate and provided exclusive coverage of current issues affecting the people of Third World countries. This BCCI-funded magazine had a weekly circulation of about 200,000 and was widely read by businessmen, politicians, and young bankers from Asia to South America.
Perception
I hope this article has helped you learn a little bit about financial genius Agha Hasan Abedi and the BCCI.
Originally published at https://www.ssaazs.com.