Zain Iraq has Bank Funds Seized for Unpaid Fine
By John Lee.
Zain Iraq has had its funds seized in all Iraqi banks until it pays a $262 million fine for selling 5 million SIM cards without permission, Bloomberg reports.
“We have warned them to pay the fine,” Ahmad al-Omari, a member of the Communications and Media Commission’s trustee board, told the news agency. “This procedure has been carried out as a punishment.”
In February of last year, the Commission imposed the fine and gave the company three months to pay. Its chief executive, Emad Makiya, told Reuters it would appeal the fine.