FORMER banker Mohd Zafer Mohd Hashim has died in London. He was 49 years old.

It is unclear as to the cause of his death.

Financial portal The Edge Markets reported that Zafer’s death was informed to the Kuala Lumpur High Court this morning during a case management of a case in which he was a defendant.

Zafer, a former president and group managing director of Bank Pembangunan Malaysia Bhd (BPMB), was one of the defendants in a legal action initiated by the bank over a RM400 million loan granted to Aries Telecoms (M) Bhd.

The RM400 million loan, which was approved in May 2012, was to partially finance a RM1.3 billion project undertaken by Aries to install a fibre optic network around Peninsular Malaysia.

Court documents showed that BPMB accused the 27 defendants of conspiring and using unlawful means to defraud the bank, as well as to conceal such fraud and its proceeds.

BPMB claimed that the loan was disbursed to Aries without fulfilling the necessary conditions.

The bank had also obtained an injunction against 23 out of 27 defendants to freeze their assets, including that of Zafer’s.

Zafer started his career with Price Waterhouse in London. He was previously chief financial officer of Maybank Investment Bank Bhd and Bank Muamalat Malaysia Bhd. 

Prior to his stint at Bank Muamalat Malaysia, he was attached to MMC Corporation Bhd as a general manager.

He also sat on the board of Malaysian Bulk Carriers Bhd and Malaysia Industry-Government Group for High Technology (MIGHT). – July 22, 2022.