However, even criminal fraud can be identified, contained and corrected if roles are not duplicated.Thus, it is important to separate management and governance roles in order to mitigatemismanagement of the institution, regardless of the intention of the individual in question.
By Alex Silva and Anais Concepcion, Microfinance Focus, January 7, 2012)
It is not only any simple observation or study but a story of first hand experience. In beginning the CEOof Asasah engaged me to produce the documentaries, stories , shoot events as I was the owner of amedia company and doing this sort of business. However after a very short time she offered me to joinAsasah if I have a passion to work for poor community. So I accepted the offer with a soft warning thatif you are doing any thing wrong, then kindly don’t get me in your business because I am a mediaperson. We are open and transparent and do not afraid of anybody. I joined Asasah on 1rst Sept 2007 tillthe 1rst of November 2009. In this period of my service I tried at my level best to serve my first MFinstitution with all my personal, social and journalistic capabilities but I found all in vain because therewas nothing except a greed, lust and ultimate cruelty from the family. Particularly I find the CEO even inhuman with her daily behavior for the all staff and clients, particularly with female staff. She was verysharp to oblige the influential people in managing and using and exploiting them by bribing them withcostly gifts and money. At the same time she was extremely nonprofessional to deal the organizationalmatters. High turnover of staff and the incidents of suicides can be investigated in this perspective. TheJaffery Family misuses the donors funds, Make their own bank balances, utilizes staff’s frauds in theirfavor by hiding the actual recollection of stolen money. Mr. Michael McGrath the former Chairman of the Board of Asasah left the organization after observing a few nonprofessional events within Asasah.Although he did not mention these events and the reason, however he was not happy with themanagement.
A few other Factors
When I, Rafay Mahmood and a few others resigned from Asasah Microfinance Institute of Pakistan in2009 with the claim that, the management has only six months to declare emergency and make a soundstrategy to stop this fall of second largest MFI of Pakistan, nobody was ready to listen us. We informedPakistan Poverty Alleviation Fund by a mail about our resignation. They rushed to the organization,started audits and evaluation but as usual they came to the MFI as auditors but went as “consultants”. Iwas eye witness, when PPAF came to know that Asasah’s CEO Ms. Tabinda Alkenz Jaffery investedfunding in her personal business of mobile oil with the cooperation of her brother Mr. Imran Jaffrey , anauditor came from PPAF and stop them to do this mal practice but they made neither any charge norstop funding to them. It was also in the knowledge of PPAF that the staff of Asasah is at a high alertbecause of un satisfaction and due to a constant inhuman psychological pressure from the CEO and herfamily members , who directly and indirectly by both ways were, and even involved in theorganization’s in and out. As Ms. Zarreen the GM Operation ( mentioned as manager finance at MIX ),brother Mr. Ammar Adam Jaffry (ex head of HR Asasah), who worked as the head of HR ( without anysound experience and qualification), now working as a hidden supplier , brother Mr. Imran Jaffery