The chairman of IPIC is Sheikh Mansour. Although the Sheikh did not invest any of his own money in Barclays at the time, a company he controlled was initially issued warrants to buy 758 million shares in the bank.
The warrants gave the owner a valuable option to buy the shares at a fixed price at any point over the following five years.
If Sheikh Mansour profited personally, then Barclays may have breached anti-corruption laws aimed at preventing payments to government officials.
Jeremy Carver, a lawyer for Transparency International, said Barclays may be at fault if government officials benefitted from the deal.