Kamal Adham

Kamal Adham was the former head of Saudi Arabian intelligence and brother-in-law of the late King Faisal. He was a significant shareholder in BCCI and First American Bank. Adham was a shrewd and jovial figure who straddled the worlds of Middle Eastern business and politics for decades. He was considered one of the true inside power players of the Middle East.¹

Adham's influence stemmed from his royal connections, which he leveraged to facilitate business deals. He was the principal liaison between the Central Intelligence Agency and European intelligence agencies, operating under the code name "Tumbleweed."² His role in Saudi intelligence involved assisting the royalists in Yemen's civil war and later wielding wider influence through surveillance of Saudi citizens and political enemies of the king.³

He played a crucial role as a front man for Agha Hasan Abedi in BCCI's secret acquisitions, including the National Bank of Georgia and Financial General Bankshares.⁴ Adham was instrumental in funneling money from Sheikh Zayed and the CIA to Anwar Sadat and is credited with pressuring Sadat to engage in the Camp David Accords.⁵

Adham was indicted in the United States for his involvement in BCCI's frauds and bribery, eventually pleading guilty in New York and agreeing to cooperate with prosecutors. He paid a $105 million fine.⁶

Early Life and Career

Born in 1929, Kamal Adham was the son of Dr. Rashad Pharaon, physician to King Abdul-Aziz ibn Saud, the founder of modern Saudi Arabia. His father's position within the royal inner circle provided Adham with significant access and influence from a young age.⁷ He received a good education, attending the best French schools.⁸

Adham launched his business career in 1951, at the age of twenty-two, by controlling the franchise for Carrier Corp air conditioners. He expanded his ventures to include a TUP bottling plant, and companies that built roads, airports, and imported elevators and computers. By the mid-1960s, his influence grew to the point where he represented multiple defense firms and became a principal broker for weapons purchased by Saudi Arabia on behalf of Egypt.⁹

Relationship with Abedi and BCCI

Abedi met Adham in the early 1970s through Sheikh Zayed. Adham became a key figure in Abedi's strategy to expand BCCI's influence in the United States. He was a nominal lead shareholder in First American Bank and was responsible for hiring Clark Clifford and Robert Altman to lead the bank.¹⁰ Adham's role was to provide a veneer of legitimacy and access for BCCI's clandestine operations.

Involvement in Nuclear Programs

Adham publicly asserted that Pakistan possessed an atomic bomb and that Abedi and BCCI had financially supported its development. He viewed this as an achievement for the Third World, challenging Western powers' control over nuclear technology.¹¹