Swaleh Naqvi
Sayaid Mohammed Swaleh Naqvi | |
|---|---|
| Born | 1933 Agra, British India |
| Died | 2019-09-07 Karachi, Pakistan |
| Occupation | Banker |
| Known for | Chief executive officer of Bank of Credit and Commerce International (BCCI) |
Sayaid Mohammed Swaleh Naqvi (1933 – 7 September 2019) was a banker of Pakistani origin who held British and Swiss citizenship and served as the chief executive officer of the Bank of Credit and Commerce International (BCCI). He was found guilty in connection with the BCCI financial scandal and received an eight-year prison sentence.
Early life and education
Naqvi was born in 1933 in Agra, during the period of British India, and relocated to Pakistan in 1947, where he made his home in Karachi. He completed a Bachelor of Arts degree specializing in English and economics, followed by a Master of Arts in Persian at Government College.
Career
His banking profession commenced at Habib Bank Limited, after which he was employed by Muslim Commercial Bank in East Pakistan. In 1959, he joined United Bank Limited and ultimately managed its East Pakistan operations.
In 1972, Naqvi departed from United Bank Limited to collaborate with Agha Hasan Abedi in founding BCCI. The institution experienced swift growth, establishing approximately 400 branches across 72 nations, and was among the pioneering foreign banks authorized to operate within China, where it established a training center in Shenzhen. Naqvi was named BCCI secretary in 1978.
After Abedi became incapacitated in 1988, Naqvi assumed the role of BCCI CEO, following endorsement from principal shareholder Sheikh Zayed bin Sultan Al Nahyan.
In October 1994, a United States federal court sentenced Naqvi to eight years’ imprisonment and imposed a $255.4 million fine due to his involvement in the BCCI fraud case.
Death
Naqvi passed away on 7 September 2019 in Karachi after suffering a short illness.