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1994-05-02
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<text>
<title>
BCCI Closure 'Exploitative Imperialism"
</title>
<article>
<hdr>
Joint Publications Research Service, August 9, 1991
Political: BCCI Closure "Exploitative Imperialism"
</hdr>
<body>
<p>By A.B.S. Jafri, "BCCI Hijacking Part of the Bigger Plot",
[Islamabad, The Muslim in English, 11 Jul 91, pp. 1, 10].
</p>
<p> There is an infinite deal more to the plunder of BCCI (Bank
of Credit and Commerce International) than the bank robbery
that it so manifestly is. It is another big leap in the
conspiracy to ditch the oil-rich Arabs, the Muslims in general
and also the Third World as a direct consequence.
</p>
<p> Who says that exploitative imperialism is dead? Don't you
see it alive and licking? Are they not back in the Middle East?
Is it not 1919 now instead of 1991?
</p>
<p> Iraq's Saddam was used in a bid to bring Iran down. That
Saddam didn't quite succeed is another matter. But the plot did
drain Iran's wealth and blood. Also the Arab wealth and blood.
So long as it was Muslim blood on both sides, it was O.K. Then,
Saddam was turned on Kuwait. That plot again was aimed at the
self-same purpose; to bleed the rich Muslim's white, to wound
them where it hurts most, to literally conquer their territory,
to return to rich Middle East with military power. The West's
(or to be exact, the Zionists') control over Arab destiny is
just about complete. Only a few details remain.
</p>
<p> Now, those details. After the Gulf war, the picture's
salient features are: the United States has collected some 54
billion dollars in hard cash from the Saudis and Kuwaitis.
Impartial agencies say the bill for the Gulf war should not
exceed 14 billion. That means some 40 billion dollars have been
collected by the U.S. in excess. But that's between the helpless
Arabs and their protector the United States who, goodness knows,
couldn't care less about the Arabs because it is now Israel by
another name.
</p>
<p> The line in fine print on the Gulf war balance sheet is: the
Saudis and the Kuwaitis have been reduced to borrowing. At this
rate, it may be a matter of time when they have a bowl in hand.
The reasons for this kind of misgiving is that the Arabs no
longer control their oil wealth. The Americans are going to
help them in selling the Arab oil to the best advantage of the
West! [text missing]
</p>
<p> Most staff had immediate financial worries, having had their
June salaries paid into now frozen accounts.
</p>
<p> A BCCI Investor's Support Group was set up in Bradford
yesterday to help those who had accounts with the bank. Mr.
Aurangzeb Iqbal, a Pakistani solicitor who is organizing the
group, said, "The Bradford Asian business community finds
itself in a very sad state. We need to have a very effective
lobbying group and we want to see what can be salvaged." The
meeting was also attended by Ajaz Choudhary, manager of the
Leeds branch of BCCI. He said, "The bank was solvent. It is a
conspiracy against Asian people. Their prosperity was not
acceptable to the Jews of this country."
</p>
<p> More tales of hardship come from the Asian community in
Bradford where Pakistanis are concentrated. Mohammad Talib, a
Pakistani who owns a clothing and fabric shop, found his
finances stopped. He cannot order from his suppliers or pay has
staff because his account with BCCI is frozen. Mr. Talib set up
the Jamil Cloth house in Bradford some 16 years ago. His plight
is typical of many Asians who banked with BCCI. He said: "We
must get help from the government very soon or things will get
desperate. John Major is the prime minister, he should be doing
something. They (Conservative Party) believe in small
businesses and should come out with a plan to save us."
</p>
<p> Mohammad Talib came from Pakistan in 1963, had banked like
other Pakistanis with BCCI for almost a decade. "We went to
them because they were prepared to help us," He said. "They
spoke our language, Urdu, and we were able to get loans very
easily and quickly," he tearfully concluded.
</p>
<p> It is now revealed that Price Waterhouse, the auditors of
the Bank of Credit and Commerce International told the Bank of
England that there was evidence of fraud in one of the BCCI's
Cayman Island subsidiaries four years ago. They have a right to
pass on such a confidential information to the Bank of England
but not obliged to do so. It is strange that it is decided to
inform the Bank.
</p>
<p> The Bank of England is facing fresh demands from those MPs
(members of Parliament) who depend on ethnic vote for urgent
action to reserve investors hit by the closure of BCCI. Keith
Vaz, Labour MP, is leading a delegation to Governor Robin
Leigh-Pemberton to ask if all the avenues have been explored
in the search for a solution. MPs are demanding an inquiry into
the affairs of the BCCI, Keith Vaz said the Bank of England was
secretly involved in restructuring the BCCI with Sheikh Zayad
bin Sultan at-Nahyan, the leading shareholder. "Someone at the
Bank has been negligent along the way," he concluded.
</p>
</body>
</article>
</text>