In a startling revelation, a high-ranking official at Jazz has been accused of financial fraud and corporate malpractices, according to a report by Shahid Maitla for Bloom Pakistan.
The allegations have been made by Ghazanfar Azzam, the former CEO of Mobilink Microfinance Bank Limited (MMBL). Azzam claims his removal from the CEO position was unjustified and a targeted witch hunt against top executives.
Azzam accuses the Jazz official of manipulating MMBL’s affairs through shareholders, violating State Bank regulations, and undermining the bank’s governance. He asserts that these actions have significantly weakened the bank’s ability to monitor Jazz’s financial activities effectively.
Furthermore, Azzam has called for the resignation of the implicated Jazz official, describing his actions as egregious and damaging to the bank’s credibility and integrity. He warns that the continuation of these activities could irreversibly harm the bank, necessitating immediate resignation to prevent further damage.
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