Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: June 23, 1998

For immediate release

The Federal Reserve Board today announced the issuance of an Order of Prohibition against Faisal Saud Al-Fulaij, a former institution-affiliated party of Credit and Commerce American Holdings, N.V., formerly the parent bank holding company over the First American banking organization.

Under the terms of the Order, Faisal Saud Al-Fulaij is permanently barred from any future participation in banking in the United States.

The Order results from the Board’s 1991 charges against BCCI and numerous individuals associated with BCCI.

1998 Enforcement actions

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Last update: June 23, 1998, 3:00 PM