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Masihur Rahman

Masihur Rahman was the former chief financial officer of BCCI.

Tags PersonBCCICIA

Masihur Rahman was the former chief financial officer of BCCI.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 and 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.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, into which billions of dollars in deposits were improperly diverted.9

Sources

  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. ↩

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