[9] It is owned by Precision Capital, a Luxembourg-based bank holding company controlled by members of the Al Thani family of Qatar.

As an independent depository, Quintet maintains an open-architecture platform that is connected to a high number of external fund administrators and management companies in Luxembourg.

One of KBL's (and Kredietbank's) main shareholders in the postwar period, André Vlerick, was actively involved in public advocacy of the Apartheid-promoting regime of South Africa and support of its circumvention of sanctions.

[23] In April 2018, NGO OpenSecrets, in partnership with the Centre for Applied Legal Studies (CALS) at the Georgetown University Law Center, filed a complaint at the OECD, claiming that KBC and KBL had violated the Organization's Guidelines for Multinational Enterprises in their dealings with South Africa between 1977 and 1994.

"[24] As part of that process, OpenSecrets and CALS submitted a detailed document to the OECD contact points in Belgium and Luxembourg to support their claim.

[25] At the same time, hearings were held on the matter at South Africa's People's Tribunal on Economic Crime led by Zak Yacoob in Johannesburg.