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Item #:
118415979
Double Standards
Item #:
118415979
INR 1191
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INR 1191
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Double Standards revisits the BCCI-saga and carries out an academic analysis to compare its treatment against the fines meted out to major international banks following the global financial meltdown in 2008.
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Product Details
- In recent years, we have seen massive fines and penalties dished out to almost every major bank in the world for breaking the law. Yet these banks are considered ‘too big to indict’ in today’s world, due to the threat of destabilizing the financial system... Double Standards travels 25 years back to explore the story of a bank, with roots in the Middle East, that rose to prominence and became the fastest-growing bank in the world. It was called the Bank of Credit & Commerce International, known as BCCI, and became the 4th largest bank in the world by 1991. It became the bridge between the Third World and the West and at its height was bailing out governments in developing countries, like the IMF or World Bank. It was also a favourite port of call for some more notorious clientele, like the CIA, who used the bank to facilitate its covert operations overseas. The Bank of England and US authorities shut the BCCI down amidst allegations of fraud in July 1991, making over 14,000 employees redundant and leaving over 1 million customers out of pocket. Double Standards revisits the actions taken by the Bank of England and the regulatory authorities with regards to BCCI and carries out an academic analysis to compare its treatment with the major banking scandals following the global financial meltdown in 2008. The malpractice that BCCI was accused of was on par with a parking violation compared to the actions of the bigger banks of today, yet the fines and penalties to these banks are not as severe as the punishment meted out to BCCI. Why was the bank shut and, more importantly, who benefitted from its closure? This informative analysis of BCCI’s rise and fall will appeal to those with an interest in finance and banking law.
| Publisher | Matador |
| Publication date | March 8, 2016 |
| Language | English |
| File size | 4.7 MB |
| Screen Reader | Supported |
| Enhanced typesetting | Enabled |
| X-Ray | Not Enabled |
| Word Wise | Enabled |
| Print length | 257 pages |
| ISBN-13 | 978-1785895203 |
| Page Flip | Enabled |
| Item Weight | 0.5 lbs (230 grams) |
Product Description
Double Standards
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INR 1191
This product is not Fulfilled by Ubuy and can take minimum 10 days in delivery. We might cancel the product from the order and refund you if any issue arise with the delivery of this product.
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Features & Benefits
- Explores the rise and fall of BCCI, once the fastest-growing bank in the world.
- Analyzes the disparity in treatment between BCCI and major banks after the 2008 financial crisis.
- Highlights BCCI's role in aiding developing countries and its philanthropic efforts.
- Questions the motives behind BCCI's forced closure by regulators.
- Presents an untold story of its visionary founder, Agha Hasan Abedi.
- Sheds light on the implications of being deemed 'Too Big to Indict.'
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