DUBAI: Iraq’s telecoms watchdog has scrapped a $100 million fine imposed on the country’s largest mobile phone operator, Zain Iraq, Kuwaiti parent firm Zain said, ending a case that had dragged on for several years.
In 2011, the Communication and Media Commission (CMC) claimed Zain Iraq, which will list on the Iraq Stock Exchange on June 23, had sold mobile phone sim cards without its permission.
The CMC issued the fine and claimed a further $162 million as its portion of revenue from the mobile accounts in question.
This decision is final, Zain said. CMC withdrew its claim for $162 million in April, Zain said separately.
$100m fine against Kuwait’s Zain scrapped
