Don't have a login yet?
Sign up now
13 March 2017
| Jason Mcgee-Abe
Zain Group’s newly elected board has appointed Mohannad Al-Kharafi as chairman and Bader Al-Kharafi as vice-chairman and CEO of Zain Group.
However, Zain still made strategic and operational progress, and in Saudi Arabia, for example, the decision from the Communications and Information Technology Commission to extend Zain Saudi Arabia's licence for an additional 15 years was a significant boost to the operation there.
Al-Kharafi explained that Zain Iraq succeeded in reaching a negotiated settlement with the country’s Finance Ministry related to an imposition of a capital gains tax on its Iraqna acquisition in 2007. This resulted in the lifting of restrictions on the trading of Zain Iraq's shares, access to the company’s bank deposits, and the waiving of penalties and interest on taxes.
Board of directors,