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Technolog & Business News from Pakistan

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Jazz appoints Farrukh Khan as CFO and CEO of MFH

ISLAMABAD (APP – 8 July 2024): Jazz appointed Farrukh Khan, CEO & Managing Director of the Pakistan Stock Exchange (PSX), as its new Chief Financial Officer (CFO) and CEO of Micro-Finance Holdings (MFH), effective September 15, 2024.

Farrukh will also join the board of Mobilink Microfinance Bank.

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Gábor Kocsis, the outgoing CFO, will remain with Jazz until the end of the year, focusing on strategic projects to facilitate a smooth transition and maintain momentum in ongoing initiatives said a news release.

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Farrukh Khan brings over 30 years of leadership experience in major financial institutions, including roles as CEO of Acumen Fund, co-founder and CEO of BMA Capital Management, and CFO at American Express. His expertise in mergers and public offerings will enhance Jazz’s financial strategy and innovation.

Aamir Ibrahim, CEO of Jazz & Chairman MMBL, commented, “We welcomed Farrukh Khan to our leadership team. His rich expertise and leadership in capital markets are crucial as we evolve into a ServiceCo.”

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Bank of Punjab Announces Expansion with New Offices in UAE and Bahrain

This announcement comes as Jazz unveils its vision to transition from a Mobile Telco to a dynamic ServiceCo. Leveraging core strengths in data and connectivity, Jazz is poised to disrupt various sectors including financial services, software development, data centers & cloud solutions, and entertainment. With a projected compound annual growth rate of 20%+, Jazz aims to double its revenue by 2027, with significant contributions from its new ventures including the fintech platform JazzCash, cloud offering Garaj, and the digital streaming service Tamasha.

Farrukh Khan shared his enthusiasm about his new role, stating, “I’m excited to join Jazz during such a transformative time.

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The team has built outstanding businesses, and I’m eager to help drive the company’s ambitious vision to evolve into a ServiceCo. I look forward to driving financial innovation and supporting the company’s expansion into new sectors.”

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