Finablr appoints industry veteran Bhairav Trivedi as its chief executive – The National

Finablr appoints industry veteran Bhairav Trivedi as its chief executive – The National

Finablr appoints industry veteran Bhairav Trivedi as its chief executive. Finablr, the UAE based payments and foreign exchange company suspended from the London Stock Exchange last month, appointed industry veteran Bhairav Trivedi as its chief executive with immediate effect.. The new appointment comes following the resignation of Promoth Manghat as chief executive on March 16, Finablr said in a statement to the LSE, where its shares trade.. Abdulrahman Basaddiq and Bassam Hage also resigned as directors of the company, according to the announcement made on Monday.. Last month, the company said there was a "material uncertainty about the group's ability to continue" operations and appointed an accountancy firm to "undertake rapid contingency planning for a potential insolvency appointment".. Following the announcement about a potential insolvency appointment, the Central Bank of the UAE intervened in the running of Finablr's UAE Exchange business to oversee its operations.. By the time its shares were suspended on March 16, the company's value had fallen to £77.2m (Dh328.4m).. Mr Shetty and two other directors resigned from the board of Finablr-owned currency exchange business Travelex last month.. The two other directors to resign were Mr Basaddiq and Mr Shetty's son, Binay.. Mr Shetty also resigned as