Swaleh Naqvi

Swaleh Naqvi
Born
Sayaid Mohammed Swaleh Naqvi
1933
Agra, British India
Died7 September 2019(2019-09-07) (aged 85–86)
Karachi, Pakistan
OccupationBanker
Criminal penalty8 years
Children5

Sayaid Mohammed Swaleh Naqvi (1933 – 7 September 2019) was a Pakistani-born British-Swissbanker and convicted felon who was the chief executive officer of Bank of Credit and Commerce International.[1][2] He was convicted in the BCCI banking fraud and served jail time for eight years.[3]

Early life and education

Swaleh Naqvi was born in 1933 in Agra, British India.[4] He migrated to Pakistan with his family in 1947, settling in Karachi.[4] He earned a BA in English and economics, followed by an MA in Persian from Government College.[4]

Career

Naqvi began his career at Habib Bank Limited, then moved to Muslim Commercial Bank, working in East Pakistan.[4] In 1959, he joined United Bank Limited, eventually leading its East Pakistan division.[4]

In 1972, Naqvi left United Bank Limited to assist Agha Hasan Abedi in establishing Bank of Credit and Commerce International (BCCI).[4] The bank expanded internationally, operating approximately 400 branches across 72 countries. It was among the earliest foreign banks permitted to operate in China, where it opened a banking training facility in Shenzhen.[4] In 1978, he was appointed as the secretary of BCCI.[1]

After Abedi suffered a severe heart attack and became incapacitated in 1988, Naqvi was appointed chief executive officer (CEO) of BCCI, upon recommendation from the bank's major shareholder, Sheikh Zayed bin Sultan Al Nahyan.[4][5]

In October 1994, Naqvi was jailed for eight years in the BCCI banking fraud and was fined $255.4 million by a U.S. federal court.[6][7]

Death

Naqvi died on 7 September 2019, in Karachi after a brief illness.[8]

References

  1. ^ ab"Swaleh NAQVI personal appointments - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk.
  2. ^Walsh, Sharon (20 October 1994). "FORMER BCCI OFFICIAL NAQVI SENTENCED TO PRISON". The Washington Post. Retrieved 17 December 2021.
  3. ^Willcock, John (19 October 1994). "BCCI chief sentenced to eight years". The Independent. Archived from the original on 26 May 2022. Retrieved 17 December 2021.
  4. ^ abcdefgh"Soyem of Swaleh Naqvi held – Business Recorder".
  5. ^"Down memory lane: 24 years on, BCCI saga still haunts". The Express Tribune. 28 March 2015. Retrieved 17 December 2021.
  6. ^Lewis, Neil A. (20 October 1994). "Former B.C.C.I. Chief Given 8-Year Jail Term". The New York Times. p. D2. Retrieved 17 December 2021.
  7. ^"Prison term: Former top BCCI executive Swaleh..."Chicago Tribune. 19 October 1994. Retrieved 17 December 2021.
  8. ^"A legend of Pakistan Swaleh Naqvi passes away". The Financial Daily. 16 September 2019. Retrieved 17 December 2021.
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