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About 20 years before the Russan and Bothawain conflicts, the IGBC was formed by a group of investors who wanted to form a Banking Company free of the Republic's bureacracy.
Prior to the Battle of Geonosis, they allied themselves with the Confederacy of Independent Systems. Even though the Banking Clan allied with the Confederacy of Independent Systems, there was still two representatives in the Republic Senate, Nix Card and Mak Plain.
In the Clone Wars, they secretly funded the CIS and worked hard to break the Republic for their own financial gain.