VOL. XXXV

NO. 40

6-JULY-1992

Financial and Banking News

BCCI

Mahfouz Plans "Aggressive Response" to Fraud Charges

Mr. Khalid Bin Mahfouz, the chief operating officer of National CommercialBank (NCB), is developing an "aggressive response" to his indictmentin the US for fraud in connection with the collapse of Bank of Credit andCommerce International (BCCI). The indictment was handed down by the New YorkDistrict Attorney on 1 July. Mr. Mahfouz's spokesman, Mr. Lawrence G. Smith,who is also NCB's...