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Report on the investigation of the events in Bahrain, Singapore, October 17, 1995
Today, 30 years ago, on October 17, 1995 (Calendar, August 23, 1995) Singapore issued a report on the Bahrain event investigation. The Singapore Treasury Department’s report on the Bahrain event on October 17, indicated that severe deficiencies in internal management were the main cause of Bahrain’s bankruptcy. Investigators believed that there were severe deficiencies in Bahrain’s internal organizational structure and reporting system. The main reason for the bankruptcy of Bahrain’s Singapore Futures and Bahrain’s Bankruptcy and $1 billion in losses was that the internal system and senior executives of the company, including the managers directly responsible for the futures business, had a lack of understanding of futures transactions. The other two reasons were that Bahrain’s internal monitoring mechanisms had completely failed; when external auditors discovered


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