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Bank of Credit and Commerce International The Bank of Credit and Commerce International (BCCI) was a major international bank founded in 1972 by Agha Hasan Abedi, a Pakistani financier.[1] The Bank was registered in Luxembourg with head offices in Karachi and London. Within a decade BCCI touched its peak. It operated in 78 countries, had over 400 branches, and had assets in excess of US$20 billion, making it the 7th largest private bank in the world by assets.[2][3]HP Pavilion dm3-1020CA Laptop Keyboard BCCI came under the scrutiny of numerous financial regulators and intelligence agencies in the 1980s due to concerns that it was poorly regulated. Subsequent investigations revealed that it was involved in massive money laundering and otherfinancial crimes, and illegally gained controlling interest in a major American bank. BCCI became the focus of a massive regulatory battle in 1991 and on July 5 of that year customs and bank regulators in seven countries raided and locked down records of its branch offices.[4]SONY VAIO VGN-FS415M Laptop Keyboard Investigators in the U.S. and the UK revealed that BCCI had been "set up deliberately to avoid centralized regulatory review, and operated extensively in bank secrecy jurisdictions. Its affairs were extraordinarily complex. Its officers were sophisticated international bankers whose apparent objective was to keep their affairs secret, to commit fraud on a massive scale, and to avoid detection." SONY VAIO VGN-AR570 Laptop Keyboard The liquidators, Deloitte & Touche, filed a lawsuit against Price Waterhouse and Ernst & Young – the bank's auditors – which was settled for $175 million in 1998. A further lawsuit against UAE President Zayed II, a major shareholder, was launched in 1999 for approximately $400 million. BCCI creditors also instituted a $1 billion suit against the Bank of England as a regulatory body. After a nine-year struggle, due to the Bank's statutory immunity, the case went to trial in January 2004. SAMSUNG R522 Laptop Keyboard However, in November 2005, Deloitte persuaded creditor Abu Dhabi to drop its claims against the Bank of England, except for a claim for return of its deposits, in that Abu Dhabi owned 77% of the bank shares at closing, and was therefore also facing a major lawsuit. [2] To date liquidators have recovered about 75% of the creditors' lost money.[5] A decade after its liquidation, its activities were still not completely understood.[4]ACER Aspire 5742 Laptop Keyboard BCCI's founder, Agha Hasan Abedi, started the bank in 1972. Abedi, a prolific banker, had previously set up the United Bank of Pakistan in 1959. Preceding the nationalization of United Bank in 1974 he sought to create a new supranational banking entity. Abedi was succeeded by Swaleh Naqvi as the bank's chief who, in the aftermath following controversy over BCCI, was replaced by Zafar Iqbal Chaudhry in the late 1990s. BCCI was created with capital from Sheikh Zayed bin Sultan Al Nahyan, the ruler of Abu Dhabi in the United Arab Emirates and Bank of America (25%). Lenovo ThinkPad Edge E520 Laptop Keyboard BCCI expanded rapidly in the 1970s, pursuing long-term asset growth over profits, seeking high net-worth individuals and regular large deposits. The company itself divided into BCCI Holdings with the bank under that splitting into BCCI SA (Luxembourg) and BCCI Overseas (Grand Cayman). BCCI also acquired parallel banks through acquisitions: buying the Banque de Commerce et Placements (BCP) of Geneva in 1976, and creating KIFCO (Kuwait International Finance Company), HP Mini 110-3135dx Laptop Keyboard Credit & Finance Corporation Ltd, and a series of Cayman-based companies held together as ICIC (International Credit and Investment Company Overseas, International Credit and Commerce [Overseas], etc.). Overall, BCCI expanded from 19 branches in five countries in 1973 to 27 branches in 1974, to 108 branches in 1976, HP G42-415DX Laptop Keyboard with assets growing from $200 million to $1.6 billion. This growth caused extensive underlying capital problems. The Guardian alleged that BCCI was using cash from deposits to fund operating expenses, rather than making investments. Investigative journalist and author Joseph J. Trento has argued that the bank's transformation was guided by the head of Saudi intelligence with a view to enabling it to finance covert intelligence operations at a time, in the aftermath of Watergate, when the American intelligence agencies were defending themselves from investigations by domestic authorities.[6]HP G42-380TX Laptop Keyboard BCCI entered the African markets in 1979, and Asia in the early 1980s. BCCI was among the first foreign banks awarded a license to operate in the ChineseSpecial Economic Zone of Shenzhen which bore testament to Agha Hasan Abedi's public relations skills, a feat that had yet to be achieved by the likes of Citicorp and JP Morgan. Some of China's largest state banks were depositors in BCCI's Shenzhen branch. HP Mini 110-3000 CTO Laptop Keyboard There was rigid compartmentalization; the 248 managers and general managers reported directly to Abedi and the CEO Swaleh Naqvi. It was structured in such a way that no single country had overall regulatory supervision over it so as not to hinder potential growth and expansion opportunities. Its two holding companies were based in Luxembourg and the Cayman Islands—two jurisdictions where banking regulation was notoriously weak. HP Envy 15 Laptop Keyboard It was also not regulated by a country that had a central bank. On several occasions, the Office of the Comptroller of the Currency told the Federal Reserve in no uncertain terms that BCCI must not be allowed to buy any American bank because it was poorly regulated.  Lenovo 3000 Y500 Laptop Keyboard By 1980, BCCI was reported to have assets of over $4 billion with over 150 branches in 46 countries. Bank of America was "bewildered"[7] by BCCI and reduced its holding in 1980, and the company came to be held by a number of groups, with ICIC owning 70%. By 1989, ICIC's shareholding was reduced to 11% with Abu Dhabi groups holding almost 40%. However, large numbers of shares were held by BCCI nominees. It was very common for Middle Eastern elites to use nominees to hold their stock, as they did not want the public to know the details of their holdings.[citation needed]Compaq Presario CQ42-228LA Laptop Keyboard In 1982, 15 Middle Eastern investors bought Financial General Bankshares, a large bank holding company headquartered in Washington, D.C. All the investors were BCCI clients, but the Fed received assurances that BCCI would be in no way involved in the management of the company, which was renamed First American Bankshares. To alleviate regulators' concerns, Clark Clifford, an adviser to five presidents, was named First American's chairman. Clifford headed a board composed of himself and several other distinguished American citizens, including former United States Senator Stuart Symington. In truth, ACER K032130A1 Laptop Keyboard BCCI had been involved in the purchase of FGB/First American from the beginning. Abedi had been approached about buying it as early as 1977, but by this time BCCI's reputation in the United States was so poor that it could not hope to buy an American bank on its own (as mentioned above, the OCC was adamantly opposed to BCCI being allowed to buy its way into the American banking industry). Rather, it used the First American investors as nominees. Moreover, Clifford's law firm was retained as general counsel, and also handled most of BCCI's American legal work. BCCI was also heavily involved in First American personnel matters. The relationship between the two was so close that rumors spread BCCI was the real owner of First American. ACER K032130A1 Laptop Keyboard F. Lee Bailey and Florida state prosecutor Richard Gerstein were the directors of CenTrust Federal Savings Bank, a failed satellite of BCCI; this would eventually lead to Bailey's disbarment.  DELL Studio 1450 Laptop CPU Cooling Fan BCCI had an unusual annual auditing system: Price Waterhouse were the accountants for BCCI Overseas, while Ernst & Young audited BCCI and BCCI Holdings (London and Luxembourg). Other companies such as KIFCO and ICIC were audited by neither. In October 1985, the Bank of England and the Institut Monétaire Luxembourgeois (Luxembourg's bank regulator) ordered BCCI to change to a single accountant, alarmed at reported BCCI losses on the commodities and financial markets. Price Waterhouse became the sole accountants in 1987. HP Mini 110-1100SL Laptop CPU Cooling Fan In 1990, a Price Waterhouse audit of BCCI revealed an unaccountable loss of hundreds of millions of dollars. The bank approached Sheikh Zayed bin Sultan Al Nahyan, who made good the loss in exchange for an increased shareholding of 78%. Much of BCCI's documentation was also then transferred to Abu Dhabi. The audit also revealed numerous irregularities. Most seriously, BCCI had made a staggering $1.48 billion worth of loans to its own shareholders, who used BCCI stock as collateral. Toshiba Satellite L645D-S4052 Laptop CPU Cooling Fan The audit also confirmed what many Americans who watched BCCI long suspected—that BCCI secretly (and illegally) owned First American. When the Fed cleared the group of Arab investors to buy First American, it did so on condition that they supplement their personal funds with money borrowed from banks with no connection to BCCI. Contrary to that agreement, several stockholders had borrowed heavily from BCCI. Even more seriously, they pledged their First American stock as collateral. When they didn't make interest payments, BCCI took control of the shares. It was later estimated that in this manner, BCCI had ended up with 60 percent or more of First American's stock. SONY Vaio VGN-NW310F/B Laptop CPU Cooling Fan BCCI's rapid growth alarmed the financial community, as well as regulators. When a bank grows rapidly, it is lending more and more money each year. BCCI contended that its growth was fueled by the increasingly large number of deposits by oil-rich states who owned stock in the bank as well as by sovereign developing nations. However, this claim failed to mollify the regulators. For example, the Bank of England ordered BCCI to cap its branch network in the United Kingdom at 45 branches.[8]HP Pavilion dv5-2147la Laptop CPU Cooling Fan There was particular concern over BCCI's loan portfolio because of its roots in areas where modern banking was still an alien concept. For instance, a large number of its customers were devout Muslims who believed charging interest on loans—a major pillar of modern banking—was riba, or usury. In many Third World countries,  Compaq Presario C755EF Laptop CPU Cooling Fan a person's financial standing didn't matter as much as his relationship with his banker. One particularly notable example is the Gokal family, a prominent family of shipping magnates. They had a relationship with Abedi dating back to his days at United Bank. Abedi personally handled their loans, with little regard for details such as loan documents or creditworthiness. At one point, BCCI's loans to the Gokal companies were equivalent to US$ 1.5 billion, three times the bank's capital. Longstanding banking practice dictates that a bank not lend more than 10 percent of its capital to a single customer.[8]HP Mini 110-1120SL Laptop CPU Cooling Fan BCCI’s demise began in 1986, when a US Customs undercover operation led by Special Agent Robert Mazur infiltrated the bank’s private client division and uncovered their active role soliciting deposits from drug traffickers and money launderers. The so-called C-Chase investigation began when it was apparent the Soviet Union was weakening and Washington lost interest in funding the mujahideen. TOSHIBA NB205-N313/P laptop keyboard This two-year undercover operation concluded in 1988 with a fake wedding that was attended by BCCI officers and drug dealers from around the world who had established a personal friendship and working relationship with undercover agent Mazur. At the same time he was dealing undercover with BCCI executives, Mazur used his undercover operation to establish a relationship with the hierarchy of the Medellin Cartel as one of their sources for laundering drug proceeds. HP Mini 210-2170nr laptop keyboard   In 1988, the bank was implicated for being the center of a major money-laundering scheme. After a six-month trial, BCCI, under immense pressure from US authorities, pleaded guilty in 1990, but only on the grounds of respondeat superior. While federal regulators took no action, Florida regulators forced BCCI to pull out of the state.[8]HP G62-b21SL laptop keyboard The bank established the Third World Foundation in London, which published the widely circulated Third World Quarterly and paid special attention to the promotion of the Urdu language and literature through the Urdu Markaz located in London. BCCI also established the Infaq Foundation in Pakistan, which was instrumental in funding the establishment of some of the top universities of the region, such as BCCI FAST (Institute of Computer Sciences) and GIKI (Ghulam Ishaq Khan Institute of Science, Engineering & Technology), in addition to regular support for many other educational institutions. HP Pavilion dv6-2174ca laptop keyboard BCCI also established the Cromwell Hospital (now owned by Bupa) in London. In addition to the above, BCCI helped revive hundreds of historical buildings and monuments throughout the developing world and contributed significantly to the arts, culture, sports, health, and education in many poor, Third World countries. A significant percentage of employee's salaries were regularly contributed through their consent to global charitable causes. SONY VAIO VGN-FS195VP laptop keyboard In March 1991, the Bank of England asked Price Waterhouse to carry out an inquiry. On June 24, 1991, using the code name "Sandstorm" for BCCI, Price Waterhouse submitted the Sandstorm report showing that BCCI had engaged in "widespread fraud and manipulation" that made it difficult, if not impossible, to reconstruct BCCI's financial history. TOSHIBA Satellite L505-S6959 laptop keyboard The Sandstorm report, parts of which were leaked to The Sunday Times, included details of how the Abu Nidal terrorist group had manipulated details and through using fake identities had opened accounts at BCCI's Sloane Street branch, near Harrods in London. Britain's internal security service, MI5, had signed up two sources inside the branch to hand over copies of all documents relating to Abu Nidal's accounts. One source was the Syrian-born branch manager, Ghassan Qassem, the second a young British employee. HP AETT9U00010 Laptop Keyboard The Abu Nidal link man for the BCCI accounts was a man based in Iraq named Samir Najmeddin or Najmedeen. Throughout the 80s, BCCI had set up millions of dollars worth of letters of credit for Najmeddin, largely for arms deals with Iraq. Qassem later swore in an affidavit that Najmeddin was often accompanied by an American, whom Qassem subsequently identified as the financier Marc Rich. Rich was later indicted in the U.S. for tax evasion and racketeering in an apparently unrelated case and fled the country. Packard Bell NEW95 laptop keyboard Qassem also told reporters that he had once escorted Abu Nidal, who was allegedly using the name Shakir Farhan, around town to buy a tie, without realizing who he was. This revelation led in 1991 to one of the London Evening Standard's best-known front-page headlines: "I Took Abu Nidal Shopping." BCCI was awaiting final approval for a restructuring plan in which it would have re-emerged as the "Oasis Bank". However, after the Sandstorm report, regulators concluded BCCI was so fraught with problems that it had to be seized. It had already been ordered to shut down its American operations in March for its illegal control of First American. Lenovo 04W0872 laptop keyboard On July 5, 1991, regulators persuaded a court in Luxembourg to order BCCI liquidated on the grounds that it was hopelessly insolvent. According to the court order, BCCI had lost more than its entire capital and reserves the year before. At 1 pm London time that day (8 am in New York City), regulators in five countries marched into BCCI's offices and shut them down. Around a million depositors were immediately affected by this action. Packard Bell PEW91 laptop keyboard On July 7, 1991, Hong Kong Office of the Commissioner of Banking (forerunner of the Hong Kong Monetary Authority) ordered BCCI to shut down its business in Hong Kong on the grounds that BCCI had problem loans and the Sheikh of Abu Dhabi, the major shareholder of BCCI, refused to provide funds to the Hong Kong BCCI. Hong Kong BCCI was liquidated on July 17, 1991. TOSHIBA NB205-N313/P laptop keyboard In 2002, Denis Robert and Ernest Backes, former number three of financial clearing house Clearstream, discovered that BCCI had continued to maintain its activities after its official closure, with microfiches of Clearstream's illegal unpublished accounts.[11]Lenovo 45N2071 Laptop Keyboard A few weeks after the seizure, on July 29, Manhattan District Attorney Robert Morgenthau announced that a Manhattan grand jury had indicted BCCI, Abedi and Naqvi on twelve counts of fraud, money laundering and larceny. Morgenthau, who had been investigating BCCI for over two years, claimed jurisdiction because millions of dollars laundered by the bank flowed through Manhattan. Also, Morgenthau cited BCCI's secret ownership of First American, which operated a subsidiary in New York City. Morgenthau said that all of BCCI's deposits had been fraudulently collected because the bank misled depositors about its ownership structure and financial condition. He described BCCI as "the largest bank fraud in world financial history." ACER K032130A1 Laptop Keyboard On November 15, BCCI, Abedi and Naqvi were indicted on federal charges that it had illegally bought control of another American bank, Independence Bank of Los Angeles, using Saudi businessman Ghaith Pharaon as the puppet owner. Just a month later, BCCI's liquidators (Deloitte, PWC) pleaded guilty to all criminal charges pending against the bank in the United States (both those lodged by the federal government and by Morgenthau), clearing the way for BCCI's formal liquidation that fall. BCCI paid $10 million in fines and forfeited all $550 million of its American assets—at the time, the largest single criminal forfeiture ever obtained by federal prosecutors. The money was used to repay losses to First American and Independence and to make restitution to BCCI's depositors. None of this was enough to rescue both banks, however; Independence was seized later in 1992, while First American was forced into a merger with First Union in 1993. DELL V-0604BIAS1-US Laptop Keyboard However, many of the major players in the scandal have never been brought to trial in American or UK courts. Abedi, for example, died in 1995. He was under indictment in the United States and UK for crimes related to BCCI, but Pakistani officials refused to give him up for extradition because they felt the charges were politically motivated. Even without this to consider, he'd been in poor health since suffering a stroke in the 1980s. Pharaon is still a fugitive as of 2011; at last report he was believed to be in Syria. SONY 147915321 Laptop Keyboard In 1992, United States Senators John Kerry and Hank Brown became the co-authors of a report on BCCI, which was delivered to the Committee on Foreign Relations. The BCCI scandal was one of a number of disasters that influenced thinking leading to the Public Interest Disclosure Act (PIDA) of 1998. The report found that Clifford and his legal/business partner Robert A. Altman had been closely involved with the bank from 1978, when they were introduced to BCCI by Bert Lance, HP 636191-001 Laptop Keyboard the former director of the Office of Management and Budget, to 1991. Earlier, Pharaon was revealed to have been the puppet owner of National Bank of Georgia, a bank formerly owned by Lance before being sold back to First American (it had previously been an FGB subsidiary before Lance bought it). Clifford and Altman testified that they had never observed any suspicious activity, and had themselves been deceived about BCCI's control of First American. However, the federal government and Morgenthau contended that the two men knew, or should have known, that BCCI controlled First American. ACER Aspire 5810T-8929 Laptop Keyboard Morgenthau and the federal government brought indictments against Clifford and Altman, but did not pursue Clifford due to his age and deteriorating health (he died in 1998). Altman, however, was indicted and ultimately tried in New York. Although he was acquitted, Altman accepted a de facto lifetime ban from any role in the banking industry to settle a civil suit by the Fed. Lenovo ThinkPad Edge E520 Laptop Keyboard The British government also set up an independent inquiry, chaired by Lord Justice Bingham, in 1992. Its House of Commons Paper, Inquiry into the Supervision of the Bank of Credit and Commerce International, was published in October of that year. Following the report, the bank's liquidators launched the Three Rivers DC v Bank of England case, on behalf of thousands of BCCI creditors who are suing the Bank of England for its failure to properly oversee the bank. The BCCI creditors sought £850m in damages, claiming that the Bank of England was guilty of misfeasance in public office. The case collapsed in November 2005, with the Bank of England seeking to re-claim legal bills. The cost of the case to the creditors could be as high as £100m.[12]COMPAQ Presario CQ40-117TU Laptop Keyboard Sheikh Zayed was the youngest son of Sheikh Sultan bin Zayed bin Khalifa Al Nahyan, who was born on 1 December 1918, and was the ruler of Abu Dhabi from 1922 until his assassination in 1926. Zayed was named after his grandfather, Sheikh Zayed bin Khalifa Al Nahyan ("Zayed the Great"), who ruled the emirate from 1855 to 1909. His eldest brother, Sheikh Shakhbut Bin-Sultan Al Nahyan, became ruler of Abu Dhabi in 1928 after their uncle, Saqr bin Zayed Al Nahyan, was also assassinated. Zayed's mother, Sheikha Salaamah, extracted a promise from her sons not to use violence against each other, a promise which they kept.[1] Compaq Presario C769US Laptop CPU Cooling Fan At the time of Zayed's birth, the sheikhdom of Abu Dhabi was one of seven Trucial States along the coast of the lower coast of the Persian Gulf. These territories were in treaty relations with Britain, their rulers having signed a series of maritime truces with the British in the 19th century.[2]TOSHIBA Satellite L775-S7245 Laptop Keyboard As Zayed was growing up, there were no modern schools anywhere along the coast. He received only a basic instruction in the principles of Islam, and lived in the desert with Bedouin tribesmen, familiarising himself with the life of the people, their traditional skills and their ability to survive under the harsh climatic conditions.[3]HP Compaq G50-126NR Laptop Keyboard Zayed was appointed the governor of the Eastern Region of Abu Dhabi in 1946 and was based in the Muwaiji fort in Al Ain. At this time, the area was poor and prone to outbreaks of disease. When survey parties from Petroleum Development (Trucial Coast) began exploring for oil in the area, Zayed assisted them.[4]DELL NSK-D8001 Laptop Keyboard In 1952, a small Saudi Arabian force led by Turki bin Abdullah al-Otaishan occupied the village of Hamasa in the Buraimi Oasis (the so-called Buraimi dispute). Zayed was prominent in his opposition to Saudi territorial claims and reportedly rejected a bribe of about £30 million to allow Aramco to explore for oil in the disputed territory. As part of this dispute, Zayed and his brother Hazza attended the Buraimi arbitration tribunal in Geneva in September 1955 and gave evidence to tribual members. HP G42-415DX Laptop Keyboard When the tribunal was abandoned amid allegations of Saudi bribery, the British initiated the reoccupation of the Buraimi Oasis through a local military force, the Trucial Oman Levies. A period of stability followed during which Zayed helped to develop the region and took a particular interest in the restoration of the falaj system, a network of water channels which kept the plantations of the Buraimi Oasis irrigated and fertile.[4][5]DELL Vostro 3450 Laptop Keyboard The discovery of oil in 1958, and the start of oil exports in 1962, led to frustration among members of the ruling family about the lack of progress under Sheikh Shakhbut’s rule. On 6 August 1966 Shakhbut was deposed in a bloodless palace coup. Although it is not entirely clear from the historical record, the coup appeared to have the full backing of the Al-Nahyan family and the support of the British, with the Trucial Oman Scouts providing safe transport for Sheikh Shakbut out of Abu Dhabi.[5][6] In 1971, after occasionally difficult negotiations with the other six rulers of the Trucial States, the United Arab Emirates was formed. Zayed was appointed to the presidency of the UAE in 1971 and was reappointed on four more occasions: 1976, 1981, 1986, and 1991.[7]SONY VAIO PCG-FR315M Laptop Keyboard In 1974, Zayed apparently settled the outstanding border dispute with Saudi Arabia by the Treaty of Jeddah by which Saudi Arabia received the output of the Shaybah oilfield and access to the lower Persian Gulf in return for recognising the UAE.[8] He was considered a relatively liberal ruler, and permitted private media. However, they were expected to practice self-censorship and avoid criticism of Zayed or the ruling families. Freedom of worship was permitted, and to a certain extent allowances were made for expatriate cultures, but this did not always sit comfortably in the eyes of the wider Arab world with Zayed's role as a Muslim head of state.[5]Compaq 6720s Laptop Keyboard His religious tolerance of Christians and the freedom given Western workers sojourning in the UAE was in marked contrast to most neighbours in the region and exposed him to criticism from other much more conservative nations. Sheikh Zayed was determined to bring the Emirates into federation. His calls for cooperation extended across the Persian Gulf to Iran. Sheikh Zayed advocated dialogue as the means to settle the row with Tehran over three strategic Persian Gulf islands which Iran seized from the (future) UAE Emirate of Sharjah in 1971. The islands remain in Iranian hands, despite over three decades of UAE diplomatic initiatives. HP Pavilion dv3-2106tu Laptop Keyboard Zayed did not shy away from controversy when it came to expressing his opinions on current events in the Arab world. Troubled by the suffering of Iraqi civilians[citation needed], he took the lead in calling for the lifting of economic sanctions on Iraq imposed by the United Nations in the aftermath of the Iraqi invasion of Kuwait in 1990, despite Kuwaiti displeasure and opposition. ACER Aspire 5610Z Laptop Keyboard Zayed was considered one of the wealthiest men in the world. A Forbes magazine estimate put his fortune at around USD 20 billion.[9] The source of this wealth could be almost exclusively attributed to the immense oil wealth of Abu Dhabi and the Emirates, which sit on a pool of a tenth of the world's proven oil reserves. He enjoyed a relatively traditional lifestyle, riding and hunting with falcons, though he gave up hunting with firearms, a sport at which he excelled, to set an example for wildlife conservation in his fragile desert homeland. He was personally popular, and was regarded to be considerably pious in his religious observances.[citation needed] He was born in 1918TOSHIBA Mini NB 505-SP0160 Laptop Keyboard At the time the British withdrew from the Persian Gulf in 1971, Zayed oversaw the establishment of the Abu Dhabi Fund for Arab Economic Development; some of its oil riches were channeled to some forty less fortunate Islamic nations in Asia and Africa during the decades that followed. He is also remembered as "the man who turned the desert green," because he invested oil revenues into projects to improve the harsh desert environment. HP Envy 15 Laptop Keyboard Using the country's enormous oil revenues, Zayed built institutions such as hospitals, schools and universities and made it possible for UAE citizens to enjoy free access to them. Other charitable acts included adopting hundreds of orphans and building several hospitals abroad in Europe, Asia, and Africa. When asked by the New York Times in April 1997 why there is no elected legislature, Zayed replied, TOSHIBA Satellite L200 laptop keyboard “Why should we abandon a system that satisfies our people in order to introduce a system that seems to engender dissent and confrontation? Our system of government is based upon our religion and that is what our people want. Should they seek alternatives, we are ready to listen to them. We have always said that our people should voice their demands openly. We are all in the same boat, and they are both the captain and the crew. Our doors are open for any opinion to be expressed, and this well known by all our citizens. It is our deep conviction that Allah has created people free, and has prescribed that each individual must enjoy freedom of choice.  Lenovo 45N2240 laptop keyboard No one should act as if they own others. Those in the position of leadership should deal with their subjects with compassion and understanding, because this is the duty enjoined upon them by Allah, who enjoins upon us to treat all living creatures with dignity. How can there be anything less for mankind, created as Allah's vicegerent (khalif or Caliphate) (this is a translation error, what sheikh zayid meant by calipha does not mean ruler, he is describing humans on earth are the caliphas of god meaning successors not head of state) on earth? Our system of government does not derive its authority from man, but is enshrined in our religion and is based on Allah's Book, the Quran. What need have we of what others have conjured up? Its teachings are eternal and complete, while the systems conjured up by man are transitory and incomplete.”[10][11]Acer eMachines G730Z laptop keyboard Land was also often distributed gratis. However, while this policy benefited many landless families, enormously wealthy clans and individuals were given free land grants in proportion to their status and influence with the royal family. His majlis (a traditional Arab consultation council) was open to the public, and as well as discussing national and personal issues, he enjoyed hearing people's opinions on poetry, as well as recitals by new and young poets. He allowed non-Muslim religious buildings, Packard Bell PEW72 laptop keyboard such as churches and temples, to be built. This has particularly had a positive impact on how he was publicly perceived by the vast multitudes of expatriate workers who make up approximately three quarters of the population of the UAE. Zayed was also in favour of certain rights for women, such as access to education and women's labour-rights, within traditional parameters. His views regarding women's rights were considerably more liberal than his counterparts in the GCC nations. ACER Aspire 7736ZG Laptop Keyboard In 1972, Agha Hasan Abedi, a Pakistani banker who had set up a new bank called Bank of Credit and Commerce International (BCCI), approached Zayed for investment. Abedi had previously set up the United Bank of Pakistan in 1959, which, by 1971, had become a leading nationalized (publicly owned) bank. Zayed fronted the majority of the investment for the BCCI. Bank of America (25%) and the CIA allegedly invested, too. It is claimed that the CIA was seeking a funding route for the mujahideen in Afghanistan, similar to the Investors Overseas Service and the Nugen Hand Bank in the 1960s. DELL 0454RX Laptop Keyboard HP Envy 15 Laptop Keyboard By 1977, the bank was nearly insolvent. It took on the attributes of a Ponzi scheme, as it funded its operating expenses by deposits it received, rather than by returns from investments it made. In eight years, it reported assets of over $4 billion with over 150 branches in 46 countries. Bank of America reduced its shares, while holding companies in Abu Dhabi took on a controlling block. TOSHIBA Satellite L775-S7245 Laptop Keyboard In 1990, an audit of the BCCI by Price Waterhouse revealed an unaccountable loss of hundreds of millions of dollars. The bank approached Sheikh Zayed, who funded the loss in exchange for increasing his share to 78% of the bank. The bank was finally shut down in 1991 by the Bank of England. At the time, Zayed's shareholding was 77%.[12]HP Pavilion DV7-3065dx Laptop Keyboard In December 1991, further investigations found layers of criminal activity taking place throughout the bank. Law enforcement in the U.S. established the BCCI as an organized crime syndicate[citation needed]. Although Sheikh Zayed was not directly mentioned during interrogations, other family members were implicated in the criminal activity tied to the bank[citation needed]. The investigation found evidence of bribery, money laundering, arms trafficking, prostitution, and support ofterrorism.[13] See: CIA Reading Room Document of William Kerr dated October 25, 1991, for details of Iran Contra and El Salvador links.  HP Mini 110-3135dx Laptop Keyboard Controversy over the opinions of the Zayed Centre caused the Harvard Divinity School to return Sheikh Zayed's $2.5 million gift to the institution in 2000 as "tainted money." Former United States president Jimmy Carter accepted the Zayed International Prize for the Environment, 2001. The award included a monetary prize of $500,000 from the Zayed Centre, and Carter stated in his acceptance speech that the award carried extra significance to him, since it was named after his personal friend, Sheikh Zayed bin Sultan Al Nahayan.[14]SONY VAIO VGN-CS31S/V Laptop Keyboard There was similar controversy when the London School of Economics accepted a large donation by the Zayed Centre, to build a new lecture theatre in the New Academic Building in 2008.[15] Despite student protests[citation needed], the gift was accepted with the Sheik Zayed Theatre being the second largest lecture hall on the campus. HP Envy 15 Laptop Keyboard Harvard's equivocation, the Carter controversy, and the engendering negative publicity, prompted Sheikh Zayed to shut down the centre in August 2003, stating that the Zayed Centre "had engaged in a discourse that starkly contradicted the principles of interfaith tolerance."[16] In 1999, while he was hospitalized and undergoing a series of tests, the people of the UAE wrote him a personal thank-you letter. He underwent a kidney transplant in 2000 at the Cleveland Clinic in the U.S. COMPAQ Presario C700 Laptop Keyboard On 2 November 2004, Abu Dhabi TV announced that Zayed had died at the age of 86, just one day before his 87th birthday. He is buried in the courtyard of the newSheikh Zayed Grand Mosque in Abu Dhabi. His eldest son, Sheikh Khalifa bin Zayed Al Nahyan, born in 1948, took an increasing role in government beginning in the 1990s. Directly after his father's death, he was ratified as the Ruler of the United Arab Emirates by his fellow rulers on the Supreme Council. DELL PVDG3 Laptop Keyboard Shaikh Zayed International Airport located in Rahim Yar Khan, Punjab, Pakistan is named in his honour. There is also a lecture theatre named in his honour at the London School of Economics. A local airport in the northern city of Kukës, in Albania, is named "Zayed Bin Sultan Al-Nahyan" In 1845 William Welch Deloitte opened an office in Basinghall Street in London. Deloitte was the first person to be appointed an independent auditor of a public company, namely the Great Western Railway.[6] He went on to open an office in New York in 1880.[6]TOSHIBA Satellite L750-ST4N02 Laptop Keyboard In 1896 Charles Waldo Haskins and Elijah Watt Sells formed Haskins & Sells in New York.[6] In 1898 George Touche established an office in London and then in 1900 joined John Ballantine Niven in establishing the firm of Touche Niven in the Johnston Building at 30 Broad Street in New York.[6] At the time, there were fewer than 500 CPAspracticing in the United States, but the new era of income taxes was soon to generate enormous demand for accounting professionals. TOSHIBA NB100-11G Laptop Keyboard On March 1, 1933, Colonel Arthur Hazelton Carter, President of the New York State Society of Certified Public Accountants and Managing Partner of Haskins & Sells, testified before the U.S. Senate Committee on Banking and Currency. Carter helped convince Congress that independent audits should be mandatory for public companies.[6]HP Envy 15 Laptop Keyboard In 1947, Detroit accountant George Bailey, then president of the American Institute of Certified Public Accountants, launched his own organization. The new entity enjoyed such a positive start that in less than a year, the partners merged with Touche Niven and A. R. Smart to form Touche, Niven, Bailey & Smart.[6] Headed by Bailey, the organization grew rapidly, in part by creating a dedicated management consulting function. It also forged closer links with organizations established by the co-founder of Touche Niven, HP 576835-001 Laptop Keyboard George Touche: the Canadian organization Ross and the British organization George A. Touche.[6] In 1960, the firm was renamed Touche, Ross, Bailey & Smart, becoming Touche Ross in 1969.[6] In 1968 Nobuzo Tohmatsu formed Tohmatsu Aoki & Co, a firm based in Japan that was to become part of the Touche Ross network in 1975.[6] In 1972 Robert Trueblood, Chairman of Touche Ross, led the committee responsible for recommending the establishment of the Financial Accounting Standards Board.[6] He led the expansion of Touche Ross in that era. HP Pavilion dm1-1010st Laptop Keyboard In 1989 Deloitte Haskins & Sells in the USA merged with Touche Ross in the USA to form Deloitte & Touche. The merged firm was led jointly by J. Michael Cook and Edward A. Kangas. Led by the UK partnership, a smaller number of Deloitte Haskins & Sells member firms rejected the merger with Touche Ross and shortly thereafter merged with Coopers & Lybrand to form Coopers & Lybrand Deloitte (later to merge with Price Waterhouse to become PwC).[7] Some member firms of Touche Ross also rejected the merger with Deloitte Haskins & Sells and merged with other firms.[7]Compaq Presario CQ42-228LA Laptop Keyboard At the time of the US-led mergers to form Deloitte & Touche, the name of the international firm was a problem, because there was no worldwide exclusive access to the names "Deloitte" or "Touche Ross" – key member firms such as Deloitte in UK and Touche Ross in Australia had not joined the merger. The name DRT International was therefore chosen, referring to Deloitte, Ross and Tohmatsu. In 1993 the international firm was renamed Deloitte Touche Tohmatsu to reflect the contribution from the Japanese firm.[6] as well as agreements to use both of the names Deloitte and Touche. TOSHIBA Satellite l25-s1216 laptop keyboard In 1995, the partners of Deloitte & Touche decided to create Deloitte & Touche Consulting Group (now known as Deloitte Consulting).[8] In 2000, Deloitte acquired Eclipse to add Internet design based solutions to its consulting capabilities. Eclipse was later separated into Deloitte Online and Deloitte Digital.[9]HP Mini 210-2130nr laptop keyboard In 2002, Arthur Andersen's UK practice, the firm's largest practice outside the U. S., agreed to merge with Deloitte's UK practice. Andersen's practices in Spain, the Netherlands, Portugal, Belgium, Mexico, Brazil and Canada also agreed to merge with Deloitte.[10][11] The spin off of Deloitte France's consulting division led to the creation of Ineum Consulting.[12]HP Mini 210-2006sa laptop keyboard In 2009, Deloitte purchased the North American Public Service practice of BearingPoint (formerly KPMG Consulting) after it filed for bankruptcy protection.[13]The firm also took over the UK property consultants Drivers Jonas in January 2010.[14] In 2011, Deloitte acquired DOMANI Sustainability Consulting and ClearCarbon Consulting in order to expand its sustainability service offerings.[15]TOSHIBA Satellite L775D-S7206 laptop keyboard In January of 2012, Deloitte announced the acquisition of Übermind, Inc., an innovative mobile agency.[16] The acquisition is Deloitte's first entrance into the mobile application field [17] On 11 January 2013, Deloitte acquired substantially all of the business of Monitor Group,[18] the strategy consulting firm founded by Harvard Business School professor Michael Porter, after Monitor filed for bankruptcy protection.[19]SONY VAIO VGN-NW Series laptop keyboard   For many years, the organization and its network of member firms were legally organized as a Swiss Verein. As of 31 July 2010, members of the Verein became part of Deloitte Touche Tohmatsu (DTTL), a UK private company, limited by guarantee. Each member firm within its global network remains a separate and independent legal entity, subject to the laws and professional regulations of the particular country or countries in which it operates.[20]Lenovo ThinkPad Edge E520 laptop keyboard This structure is similar to other professional services networks which seek to limit vicarious liability for acts of other members. As separate and legal entities, member firms and DTTL cannot obligate each other. Professional services continue to be provided by member firms only and not DTTL. With this structure, the members should not be liable for the negligence of other independent members. This structure also allows them to be members of the IFAC Forum of Firms[21] which is network of accounting firm networks. Packard Bell Easynote TK85 laptop keyboard While in 1989, in most countries, Deloitte, Haskins & Sells merged with Touche Ross forming Deloitte & Touche, in the United Kingdom the local firm of Deloitte, Haskins & Sells merged instead with Coopers & Lybrand (which today is PwC).[22] For some years after the merger, the merged UK firm was called Coopers & Lybrand Deloitte and the local firm of Touche Ross kept its original name. In the mid-1990s however, both UK firms changed their names to match those of their respective international organizations. Packard Bell PEW91 laptop keyboard While the full name of the UK private company is Deloitte Touche Tohmatsu Limited, in 1989 it initially branded itselfDRT International. In 2003 the rebranding campaign was commissioned by Bill Parrett, the then CEO of DTT, and led by Jerry Leamon, the global Clients and Markets leader.[23] According to the company website, Deloitte now refers to the brand under which independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients.[24]SONY VAIO VGN-CS115J/R laptop keyboard In 2008, Deloitte adopted its new “Always One Step Ahead” (AOSA) brand positioning platform to support the existing Deloitte vision: “To be the Standard of Excellence”. AOSA represents the global organization’s value proposition, and is never used as a tagline. The recent launch of the Green Dot ad campaign also aligns with Deloitte’s brand strategy and positioning framework.[25]HP Mini 311-1042TU laptop keyboard The OCC participates in interagency activities in order to maintain the sanctity of the national banking system. By monitoring capital, asset quality,management, earnings, liquidity, sensitivity to market risk, information technology, consumer compliance, and community reinvestment, the OCC is able to determine whether or not the bank is operating safely and soundly, and meeting all regulatory requirements. The OCC was created by Abraham Lincoln to fund theAmerican Civil War but was later transformed into a regulatory agency to instill confidence in the national banking system and protect consumers from misleading business practices. Lenovo 45N2036 laptop keyboard The OCC regulates and supervises about 2,000 national banks and 50 federal branches of foreign banks in the U.S., accounting for over thee-quarters of the total assets of all U.S. commercial banks (as of 2011).[3] Other regulatory agencies like the OCC include: the Federal Deposit Insurance Corporation (of which the Comptroller serves as a director), the Federal Reserve, the Office of Thrift Supervision, and the National Credit Union Administration. The OCC routinely interacts and cooperates with other government agencies, including the Financial Crimes Enforcement Network, the Office of Foreign Asset Control, the Federal Bureau of Investigation, the Department of Justice, and the Department of Homeland Security. SONY VAIO VPCF126FM Laptop Keyboard James Francis Thaddeus O'Connor (November 10, 1886 – September 28, 1949) was a United States federal judge. Born in Grand Forks, North Dakota, O'Connor received an A.B. from the University of North Dakota in 1907, an LL.B. from theUniversity of North Dakota in 1908, an LL.B. from Yale Law School in 1909, and an M.A. from Yale University in 1910. He was an Instructor of Rhetoric at Yale University from 1909 to 1912. He was in private practice in Grand Forks, North Dakota from 1912 to 1925, and in Los Angeles, California from 1925 to 1933. HP 550 Laptop Keyboard O'Connor was appointed Comptroller of the Currency by President Franklin D. Roosevelt in 1933, during the worst financial crisis in U.S. history, the Great Depression. To O'Connor fell the tremendous task of disposing of the assets of national banks that were not allowed to reopen after the banking holiday, and terminating receiverships of national banks. During his tenure, theFederal Deposit Insurance Corporation was established. Beginning in 1935, national bank notes were withdrawn from circulation. HP 367778-001 Laptop Keyboard In 1936, O'Connor, as Comptroller, informed banks that they could not hold bonds that were below investment grade as determined by a handful of rating agencies. O'Connor resigned the Comptroller position in 1938 in order to campaign for the California Democratic gubernatorial nomination. Unsuccessful in this bid, he returned to private practice in Los Angeles. HP Pavilion DV6z artist edition 2 Laptop Keyboard On August 28, 1940, O'Connor was nominated by President Roosevelt to a seat as a federal judge on the United States District Court for the Southern District of California vacated by William P. James. O'Connor was confirmed by the United States Senate on September 19, 1940, and received his commission on September 27, 1940. O'Connor's served in that capacity until his death, inLos Angeles, California. SONY VAIO VGN-FS640 Laptop Keyboard John C. Dugan was the 29th Comptroller of the Currency for the United States Department of the Treasury, sworn in August 2005. He completed his term on August 14, 2010. The Comptroller of the Currency is the administrator of national banks and chief officer of the Office of the Comptroller of the Currency (OCC). The OCC supervises amore than 1,500 federally chartered commercial banks and 50 federal branches and agencies of foreign banks in the United States (as of January 31, 2010), comprising more than half the assets of the commercial banking system. HP G42-415DX Laptop Keyboard The Comptroller also serves as a director of the Federal Deposit Insurance Corporation, theFederal Financial Institutions Examination Council, and NeighborWorks America. In September 2007, Comptroller Dugan was appointed Chairman of the Joint Forum, which is a group of senior financial sector regulators from the United States, Canada, Europe, Japan, and Australia that deals with issues common to the banking, securities, and insurance industries, including supervision of conglomerates. HP Mini 210-1190NR Laptop Keyboard Comptroller Dugan was the Under Secretary of the Treasury for Domestic Finance in 1992 and served in Department of the Treasury from 1989 to 1993. Before that he was minority counsel and minority general counsel for the United States Senate Committee on Banking, Housing, and Urban Affairs, from 1985 to 1989. He also served as director of Minbanc, a charitable organization, and was a member of the American Bar Association's committee on banking law. Before serving as Comptroller, Dugan worked for 12 years as a lobbyist representing the banking industry.[1]HP Mini 110-3118cl Laptop Keyboard SONY VAIO VPCF126FM Laptop Keyboard He is a graduate of the University of Michigan, with a JD from Harvard Law School. Mr. Dugan is married with two children. Dugan acted as chairman of the Joint Forum on the Basel Committee on Banking Supervision [2] from 2007 through December 2009. Lenovo 63Y0047 Laptop Keyboard The National Conference of State Legislatures (NCSL) is a bipartisan non-governmental organization (NGO) established in 1975 to serve the members and staff of state legislatures of the United States (states, commonwealths, and territories). NCSL provides research, technical assistance and opportunities for policymakers to exchange ideas on the most pressing state issues and is an effective and respected advocate for the interests of the states in the American federal system. It has three objectives: to improve the quality and effectiveness of state legislatures; to promote policy innovation and communication among state legislatures; and to ensure state legislatures a strong, cohesive voice in the federal system. SONY 147915321 Laptop Keyboard All state legislators and staff members are automatically members of NCSL. NCSL provides research, publications, and networking opportunities to aid, train, and serve its members in a wide variety of ways. NCSL is the premier legislative organization in the country and maintains relationships with the smaller policy organizations like the Council for State Governments (CSG). CSG representatives sit on NCSL's Executive Committee and NCSL representatives sit on CSG's Executive Committee and Governing Board. HP 636376-001 Laptop Keyboard N

CSL maintains two offices: one in Denver and the other in Washington, D.C.. Day-to-day operations of the organization are in the hands of its Executive Director, William T. Pound. The organization is led by a legislator who serves as its President and by a legislative staffer who serves as Staff Chair. Twenty years after its founding, NCSL was led in 1994 by its first female President, former Congresswoman Karen McCarthy. Its first African-American President, Rep. Daniel T. Blue, served in 1998-99. Currently, the 2011-2012 President of NCSL is Sen.Stephen Morris of Kansas, and the Staff Chair is Michael Adams. Each year, NCSL’s presidency alternates between legislators of the Republican and Democratic parties. DELL Vostro 1014 Laptop Keyboard He was Professor of Mathematics at St. Lawrence Academy, before practicing law in his hometown. He was a member of the New York State Assembly (St. Lawrence Co., 2nd D.) in 1875, 1876, 1877, 1878 and 1879. He was Superintendent of the New York State Banking Department from 1880 to 1883. He then served as National Bank Examiner for the cities of New York and Brooklyn before his appointment as Comptroller of the Currency by President Benjamin Harrison. An internationally recognized authority on financial and economic questions, Hepburn returned to banking when President Grover Cleveland took office. He later succeeded Henry W. Cannon as president of the Chase National Bank. TOSHIBA Mini NB 505-SP0160 Laptop Keyboard After leaving the office of Comptroller he worked in the field of banking, becoming the president of the Third National Bank of New York then the Vice-President of the National City Bank in 1897 when the Third National Bank merged with other banks to form that company. He then became the President of the Chase National Bank. DELL Vostro 3550 Laptop Keyboard Hepburn graduated from Middlebury College in 1871 and later served as a trustee.[2] In 1906 he was given an honorary degree by St. Lawrence University. Somewhat of a philanthropist, Hepburn donated funds to allow for the construction of a library for each school he served as a District Superintendent. A prolific writer on the economy and financial matters, he wrote the books "History of Coinage and Currency in the United States: Perennial Contest for Sound Money" (1903), "A History of Currency in the United States" (1915), and "Artificial Waterways and Commercial Development". He also regularly contributed to magazines and periodicals. GATEWAY MT3422 Laptop Keyboard Henry May Dawes (22 April 1877–1952) was an American businessman and banker from a prominent Ohio family. He served as a United States Comptroller of the Currency from 1923 to 1924 and also worked as an executive in the oil industry. Dawes was born in Marietta, Ohio, the youngest son of American Civil War brevet Brigadier General Rufus R. Dawes and great-great-grandson of American Revolutionhero William Dawes. His brothers Charles, Rufus, and Beman also gained national and international prominence in politics and business. Henry M. Dawes graduated from Marietta College and entered business. He married Helen Moore Curtis of Coshocton, Ohio in 1905. DELL NSK-DG101 Laptop Keyboard Dawes was an Illinois banker and businessman when he was named Comptroller by President Warren G. Harding in 1923. Although he held office for only 19 months, Dawes carried out a nationwide effort to gather recommendations from national bank officials and other experts for changes in the banking laws. With the assistance of a volunteer committee of national bankers, Dawes drafted proposals that were submitted to Congress. The Dawes recommendations resulted in theMcFadden Act, enacted under his successor.[1]DELL Latitude D620 Laptop Keyboard Dawes returned to the oil industry after his term, as president of Pure Oil Company from 1924–52. In 1936, along with other oil company executives, he was indicted and stood trial for violations of the Sherman Antitrust Act. Acquitted, he resumed his civic duties, serving as Program Committee Chair for the Economic Club of Chicago from 1939 until 1940, as well as on its Board of Directors, along with his brother Rufus. SONY VAIO VGN-FS315M laptop keyboard "Red Eye w/ Greg Gutfeld" personality (FOXNews Channel) Bill Schulz is Henry Dawes' great-grandson.[2]Information technology (IT) is the application of computers and telecommunications equipment to store, retrieve, transmit and manipulate data,[1] often in the context of a business or other enterprise.[2] The term is commonly used as a synonym for computers and computer networks, but it also encompasses other information distribution technologies such as television and telephones. Several industries are associated with information technology, such as computer hardware,software, electronics, semiconductors, internet, telecom equipment, e-commerce and computer services.[3]SONY KFRSBA019A laptop keyboard In the business context, the Information Technology Association of America has defined information technology (IT) as "the study, design, development, application, implementation, support or management of computer-based information systems".[4] The business value of information technology is to automate business processes, provide information for decision making, connect business with their customers, and provide productivity tools to increase efficiency. In an academic context, the Association for Computing Machinery defines it as "undergraduate degree programs that prepare students to meet the computer technology needs of business, government, HP Pavilion dv6-2180ep laptop keyboard healthcare, schools, and other kinds of organizations .... IT specialists assume responsibility for selecting hardware and software products appropriate for an organization, integrating those products with organizational needs and infrastructure, and installing, customizing, and maintaining those applications for the organization’s computer users. Examples of these responsibilities include the installation of networks; network administration and security; the design of web pages; the development of multimedia resources; the installation of communication components; the oversight of email systems; and the planning and management of the technology lifecycle by which an organization’s technology is maintained, upgraded, and replaced."[5]HP Pavilion dv6-2015sw laptop keyboard Humans have been storing, retrieving, manipulating and communicating information since the Sumerians in Mesopotamiadeveloped writing in about 3000 BC,[6] but the term "Information Technology" in its modern sense first appeared in a 1958 article published in the Harvard Business Review; authors Leavitt and Whisler commented that "the new technology does not yet have a single established name. We shall call it information technology (IT)."[7] Based on the storage and processing technology employed, it is possible to distinguish four distinct phases of IT development: pre-mechanical (3000 BC – 1450 AD), mechanical (1450–1840), electromechanical (1840–1940) and electronic (1940-present).[6] This article focuses on the most recent period, (electronic) which began around the year 1940. Packard Bell PEW91 laptop keyboard Devices have been used to aid computation for thousands of years, probably initially in the form of a tally stick.[8] The Antikythera mechanism, dating from about the beginning of the first century BC, is generally considered to be the earliest known mechanical analog computer; it is also the earliest known geared mechanism.[9] Comparable geared devices did not emerge in Europe until the 16th century,[10] and it was not until 1645 that the first mechanical calculator capable of performing the four basic arithmetical operations was developed.[11]Lenovo 45N2141 laptop keyboard Electronic computers, using either relays or valves, began to appear in the early 1940s. The electromechanical Zuse Z3, completed in 1941, was the world's firstprogrammable computer, and by modern standards one of the first machines that could be considered a complete computing machine. Colossus, developed during the Second World War to decrypt German messages was the first electronic digital computer. Although it was programmable, it was not general-purpose, Compaq Presario CQ71-317EA laptop keyboard being designed to perform only a single task. It also lacked the ability to store its program in memory. Instead, programming was carried out using plugs and switches to alter the internal wiring.[12] The first recognisably modern electronic digital stored-program computer was the Manchester Small-Scale Experimental Machine (SSEM), which ran its first program on 21 June 1948.[13]Compaq Presario CQ71-420SO Laptop Keyboard Early electronic computers such as Colossus made use of punched tape, a long strip of paper on which data was represented by a series of holes, a technology now obsolete.[14] Electronic data storage, which is used in modern computers, dates from the Second World War, when a form of delay line memory was developed to remove the clutter from radar signals, the first practical application of which was the mercury delay line.[15] The first random-access digital storage device was the Williams tube,  FUJITSU Amilo Mini Ui 3520 Laptop Keyboard based on a standard cathode ray tube,[16] but the information stored in it and delay line memory was volatile in that it had to be continuously refreshed, and thus was lost once power was removed. The earliest form of non-volatile computer storage was the magnetic drum, invented in 1932[17]and used in the Ferranti Mark 1, the world's first commercially available general-purpose electronic computer.[18]HP Envy 15 Laptop Keyboard HP G56-118CA Laptop Keyboard  HP 636376-001 Laptop Keyboard Most digital data today is still stored magnetically on devices such as hard disk drives, or optically on media such as CD-ROMs.[19] It has been estimated that the worldwide capacity to store information on electronic devices grew from less than 3 exabytes in 1986 to 295 exabytes in 2007,[20] doubling roughly every 3 years.[21]SONY VAIO VGN-NR21E/S Laptop Keyboard SONY 147963021 Laptop Keyboard DELL Precision M4500 Laptop Keyboard TOSHIBA NSK-TAJ01 Laptop Keyboard

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