[2] Agha Hasan Abedi was born in Lucknow, British India, to a Urdu Speaking Muhajir middle class family with members who served as advisors and courtiers to the Nawab of Awadh.One of the first to comprehend the opportunities offered by the oil boom in the Persian Gulf, Abedi pioneered close economic collaboration in the private sector between Pakistan and the United Arab Emirates (UAE).The UAE President, Sheikh Zayed bin Sultan Al Nahyan, extended his patronage to UBL operations both in Pakistan and abroad.[3] In July 1991, it was found by international regulators that the bank was involved in a massive fraud and money laundering for Colombian drug cartels, Abu Nidal Organization, and Central Intelligence Agency."It was founded by the charismatic Agha Hasan Abedi in 1972, backed by Middle Eastern investors and run mostly by the South Asians.Abedi also contributed funds to establish Ghulam Ishaq Khan Institute of Engineering Sciences and Technology.