ABU DHABI. Oct 9: Top executives of the collapsed Bank of Credit and Commerce International on Saturday pleaded not guilty to charges of forgery, breach of trust and wasting depositors’ and shareholders' funds, reports AP.

Eleven defendants indicted in one of the world's most serious banking scandals appeared before a single Judge for the preliminary hearing. Two other defendants were formally charged in absentia

The nonJury trial is being held in Abu Dhabi because that is where the bank's home office is located. The case opened after a two-year investigation by the government.

State prosecutor Mohammed Nakhirah al-Dhahiri described the case as "the most serious economic case in the present time with an International impact."

At the end of the two-h<»uf

public session. Judge Shihab Abdul-Rahman scheduled the next hearing for November 13 to allow defence lawyers to study the files of the complicated case.

The court was packed with lawyers and members of the defendants' families.

Those who did not attend Saturday's session were Agha Hassan Abedi. the founder of the banking empire, and the bank's former treasurer, Ziauddln All Akbar.

Abedi. who Is in his late 70s, is an invalid and lives in his native Pakistan, with which the United Arab Emirates has no extradition treaty. Akbar is serving a six-year sentence after a London court-convicted him of fraud.on September 28.

Neither of them was represented by a lawyer.

The others are six men with dual Pakistani and British citizenships, a Canadian and four Pakfatania