Iraq’s telecom regulator scraps fine against Zain

The telecom regulator of Iraq has scrapped a USD100 million fine imposed on the country's largest mobile phone operator, Zain Iraq, ending a case that had dragged on for several years, according to Reuters.

 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 USD162 m as its portion of revenue from the mobile accounts in question.A series of judgements and counter-judgements dragged on for several years, but a CMC committee considering the case has decided not to impose the fine. It was resported that CMC withdrew its claim for USD162million in April 2015.