AMQ7077: You are not authorized to perform the requested operation while creating MQ series queues managers

When creating MQ series queue manager you get the following error:

AMQ6239: Permission denied attempting to access filesystem location '...'.
AMQ7077: You are not authorized to perform the requested operation.
exitvalue = 119

This error occurs because the local mqm group does not have access to your logs and queue folders. Grant the local group mqm full control and the issue will be fixed.