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bcci

1. Welcome to Case presentation Group-3| Case presentation

2. Group- 3 MBA 1 st Semester Session: 2021-22 SL No. Name ID No. 1 Sumona Akter Nila 18 FIN 011 2 Ferdoushi Akter 18 FIN 012 3 Md. Aminul Islam Sany 18 FIN 014 4 Nur Mohammad 18 FIN 015 5 Ashraful Zannat 18 FIN 016 6 Sayla Islam keya 18 fin 017 Group-3| Case presentation

3. Sumona Akter Nila 18 FIN 011 Group-3| Case presentation

4. The case "The BCCI Scandal: Lessons in Corporate Governance and Financial Regulation" Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion

5. The bank of credit and commerce international Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion Industry Banking (private) Foundation 1972 by Agha Hasan Abedi Defunct July, 1991 Headquarters Karachi, Pakistan Key People Agha Hasan Abedi (Chairman) Swaleh Naqvi (CEO) Fate Liquidation, Forced Closure

6. Key Event of BCCI Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion 1972 Agha Hasan Abedi founds BCCI; Sheikh Zayed in Abu Dhabi agrees to provide financial Support to BCCI 1982 Clark Clifford becomes chairman of First American Bank shares 1987 Price Waterhouse appointed sole auditors of BCCI 1988 Abedi has heart attack and hands over to Swaleh Naqvi; seven BCCI officials arrested in Tampa, Florida 1989 Senior employee alerts Price Waterhouse to fraud at BCCI 1990 Price Waterhouse report finds that BCCI needs additional finance of £1.8bn; Naqvi seeks additional finance in Abu Dhabi 1991 Price Waterhouse reports on fraud at BCCI (June); Bank of England shuts down BCCI branches (July) 1992 Report into BCCI by Lord Justice Bingham 2004 BCCI’s liquidators (Deloitte) begin legal action in High Court against Bank of England

7. Ferdoushi Akter 18 FIN 012 Group-3| Case presentation

8. Summary of the BCCI Scandal BCCI's rise as a global bank. Involvement in money laundering and fraudulent activities. Concerns raised by auditors and regulators. The eventual closure and its global impact. Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion

9. The Core Problem: Unraveling the BCCI Scandal The BCCI scandal is a multi-faceted issue that challenges traditional corporate governance, financial regulation, and auditing practices. It raises concerns about the integrity and stability of the international financial ecosystem. It underscores the inadequacy of regulatory oversight for cross-border financial institutions. It questions the ethical challenges posed by conflicts of interest among auditors. Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion

10. Md. Aminul Islam Sany 18 FIN 014 Group-3| Case presentation

11. Specific Issues in the BCCI Scandal Falsification of accounts to hide losses. Money laundering and involvement in illegal activities. Conflict of interest among auditors. Lack of effective regulatory oversight. Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion

12. Alternative Strategies: Tackling the BCCI Problem Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion Earlier regulatory intervention. Enhanced due diligence by auditors. Stricter enforcement of financial regulations. Global coordination among regulators. Enhanced transparency in cross-border banking.

13. Nur Mohammad 18 FIN 015 Group-3| Case presentation

14. Solutions for Addressing the BCCI Scandal Strengthening international cooperation among regulators. Implementing stricter auditing standards. Encouraging ethical practices among financial institutions. Enhancing transparency in banking operations. Creating mechanisms for early fraud detection. Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion

15. Ashraful Zannat 18 FIN 016 Group-3| Case presentation

16. Recommendations for the Future Establish a global regulatory body for international banks. Enforce stricter penalties for financial misconduct. Promote ethical training and education in the finance industry. Encourage whistleblowing and protection for whistleblowers. Foster a culture of transparency and accountability. Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion

17. Sayla Islam keya 18 FIN 017 Group-3| Case presentation

18. Conclusion: Lessons from the BCCI Scandal The BCCI case serves as a stark reminder of the vulnerabilities in the global financial system. It highlights the need for proactive regulatory reforms and ethical standards. Lessons learned should guide future efforts to prevent similar crises and protect global financial stability. Summary Problem statement Alternative strategy Solution Recommendations Title Conclusion

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