---
born: 1918-05-06
category: BCCI Scandal
died: 2004-11-02
location: Abu Dhabi
summary: Zayed bin Sultan AL-Nahayan was the Head of Abu Dhabi's ruling family and
  president of the United Arab Emirates.
tags:
- Person
- BCCI
---

Zayed bin Sultan AL-Nahayan was the Head of [Abu Dhabi](/places/abu-dhabi/)'s ruling family and president of the United Arab Emirates.[^1]

### Early Life and Ascension

Zayed's early life was described by explorer Wilfred Thesiger, who noted his powerful build and reputation among the Bedouin. He was involved in the *ghazzu*, or Bedouin raid, to secure territory or camels. Zayed's passion was falconing. In 1966, Zayed deposed and exiled his brother, Shakhbut bin Sultan AL-Nahayan, and ascended to the throne of Abu Dhabi.[^2]

### Relationship with BCCI and Abedi

[Agha Hasan Abedi](/people/agha-hasan-abedi/) cultivated a relationship with Zayed, recognizing the potential of Abu Dhabi's oil wealth.[^3] Abedi's persistence led to Zayed becoming a key supporter and later owner of [BCCI](/organizations/bank-of-credit-and-commerce-international/).[^4] Zayed's petrodollars were pumped into Abedi's bank, and BCCI handled the purchase of homes for Zayed in [Pakistan](/places/pakistan/) and managed details of his trips.[^5]

BCCI effectively merged with Zayed's Private Department, which handled and invested the Emirates' wealth.[^6] Zayed was the principal mark in Abedi's con game, having been coddled into pumping $1.5 billion in new capital and another $1.5 billion in deposits into BCCI since mid-1990.[^7]

### Role in BCCI Scandal

Zayed and his chief lieutenant, [Ghanim Fan's al-Mazrui](/people/ghanim-fans-al-mazrui/), were infuriated by the global seizure of BCCI, as it occurred just ten days before a deal to restructure the bank was to be signed.[^7] Zayed's various state agencies, along with Zayed himself, lost as much as $8 billion in the shutdown of BCCI.[^8]

He ordered audits of BCCI, which revealed billions of dollars missing.[^9] The [Bank of England](/organizations/bank-of-england/) tried to persuade Zayed to inject more money into BCCI to cover losses.[^10]

[^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. 11.
[^2]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, pp. 155-156.
[^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. 155.
[^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. 162.
[^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. 163.
[^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. 128.
[^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. 128.
[^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. 129.
[^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. 55.
[^10]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 136.