Damas CEO denies making unauthorised transactions

The former head of Dubai jewellery group Damas International Ltd (DAMAS.DI) denied his involvement in any unauthorised transactions after a company statement said he had resigned after disclosing unauthorised deals to the company's board.

"I did not do it," Tawhid Abdulla, who resigned on Monday, told Reuters in a phone interview on Tuesday. "The news about me making unauthorised transactions is not true," he added, declining to give any details on why he had stepped down.

Dubai Nasdaq-listed Damas had said on Monday it appointed Hisham Ashour, formerly deputy CEO, to take over Abdulla's post. It said Tawfique Abdulla, Tawhid's brother, had become managing director on a day-to-day basis. [ID:nLC467286]