Zain to fight Iraq fine
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Zain to fight Iraq fine

Zain to fight Iraq fine

Kuwaiti telecom operator Zain has said it will continue its fight against a $262m fine imposed on its Iraq operations despite some of the unit's bank accounts being frozen, Reuters has reported. Zain Iraq, the country's number one mobile operator with an estimated 53% market share, was hit with the fine in February 2011 for putting five million SIM cards in the local market without permission. "Some Iraqi bank accounts pertaining to Zain Iraq have been frozen, however we are expecting some positive news regarding this soon," Zain said. "Our official position is that we are not liable at all for this fine." The company declined to disclose the value of the funds frozen.

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    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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