Editing BCCI (section)

===Use of BCCI Accounts for Covert Operations===
	◦	Congressional Testimony: In October 1991, Acting CIA Director Richard Kerr testified before the Senate Subcommittee on Terrorism, Narcotics, and International Operations that the CIA maintained “several” accounts at BCCI for “normal legal transactions” to move money for covert operations, particularly in the Middle East and Pakistan. Kerr stated the agency began phasing out these accounts in the 1980s after discovering BCCI’s illegal activities.

	◦	Iran-Contra Affair: The National Security Council (NSC) used BCCI accounts to facilitate financial transactions during the Iran-Contra affair (1985–1987), a covert operation to sell arms to Iran and fund Nicaraguan Contras. BCCI handled payments, including those involving Saudi financier [[Adnan Khashoggi]], a known BCCI customer, as documented in the 1987 Tower Commission Report and congressional hearings.

	◦	Afghan Mujahideen: The CIA utilized BCCI’s branches in Islamabad and other Pakistani cities to channel approximately $2 billion in U.S. aid to Afghan Mujahideen fighting the Soviet Union (1979–1989). BCCI facilitated transfers, some of which were skimmed by Pakistani military officials, and supported Saudi intelligence operations, as noted in the Kerry-Brown Report. This provided figures like [[Osama bin Laden]] with experience in offshore financial networks.