Saudi commission fines three telecom companies SR38m

The penalties were imposed on STC, Mobily and Zain. (Shutterstock)
Updated 12 April 2019
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Saudi commission fines three telecom companies SR38m

Three telecoms companies have been handed fines totaling more than SR38 million ($10.1 million). The penalties were imposed on STC, Mobily and Zain by the Communications and Information Technology Commission (CITC).

STC was fined more than SR9 million for failure to implement commission directives, including one to halt a credit limit policy.

Etihad Etisalat was ordered to pay more than SR17 million for a number of violations, including failure to provide required information to the commission, and launching prepaid lines.

Fines of more than SR11 million was imposed on Zain for violations that included promotion without commission approval, failure to provide required information, and launching prepaid lines. SPA Riyadh


Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019
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Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.