---
category: BCCI Scandal
location: Abu Dhabi, UAE
summary: Masihur Rahman was the former chief financial officer of BCCI.
tags:
- Person
- BCCI
- CIA
---

Masihur Rahman was the former chief financial officer of [BCCI](/organizations/bank-of-credit-and-commerce-international/).[^1] He explained the financial legerdemain that resulted in the disappearance of billions of dollars.[^2] Rahman later testified before a Senate subcommittee.[^3]

### Role at BCCI

Rahman was brought into United Bank by [Agha Hasan Abedi](/people/agha-hasan-abedi/) and [Swaleh Naqvi](/people/swaleh-naqvi/) in 1966, and moved with them when Abedi created BCCI.[^4] He brought with him the original handwritten ledgers of the bank's first year of operation in [Abu Dhabi](/places/abu-dhabi/).[^5]

After BCCI pleaded guilty to money laundering in January 1990, Rahman was placed in charge of an internal audit committee to verify the Price Waterhouse figures.[^6] His findings showed that the bank's books were in a shambles, with hundreds of millions of dollars loaned or transferred without paperwork, and hundreds of millions more simply disappeared.[^7]

Rahman was very nervous about discussing BCCI's affairs with the press due to threats to his family.[^8] He described a secret bank within the bank, International Credit and Investment Company Holdings (ICIC) in the [Cayman Islands](/places/cayman-islands/), into which billions of dollars in deposits were improperly diverted.[^9]

[^1]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 5.
[^2]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 5.
[^3]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 5.
[^4]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 81.
[^5]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 81.
[^6]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 81.
[^7]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 83.
[^8]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 80.
[^9]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 82.