Myth: we felt seriousness from Iraqi officials to resolve a tax file-Iraq

14 August 2016 11:02 am


Zain Group revealed (ZAIN), Kuwait Stock Exchange listed, she held fruitful talks in Baghdad with Iraqi Finance Minister, Hoshyar Zebari, that addressed several issues of common interest, which was the most important settlement of tax file for operational unity in Iraq, according to a company statement.

Zain said in a press release, "live" Edition, the meeting saw positive discussions about tax file your Zen-Iraq ", where almbahathat addressed the need for constructive cooperation between the two sides to settle this file since long years due, in serving the common interests.

According to the statement, Vice Chairman of the Board of Directors of Group Managing Director in a company of Iraqi ring Bader SAE high delegation during this important discussions Zen with the Iraqi side.

According to the statement, Al-Kharafi said: "often seen as the sees of Minister Zebari during these talks, and we felt for the first time seriously blurred in resolving this file from Iraqi officials.

Fabulous Super lauded the efforts of Minister Hoshyar Zebari in overcoming obstacles to smooth movement, indicating, according to the statement, that "the trends that lmsanha during these discussions will have a deep impact on foreign investment.

The time between the myth that the Iraqi market areas where Zen group at the operational level and financial obstacles at the moment, it has expressed confidence that the talks positive results, as reported Communique.

According to the statement, Al-Kharafi said, "from the first moment that Zain entered the Iraqi market, and is now an integral part of Iraqi society, over the 12 years felt applique firmly over the great responsibility placed on it in the service of the Iraqi citizen."

Fabulous Super big confidence price awarded by the Iraqi citizens towards Zain, today, according to the statement, "Zain Iraq" captures the largest share of Iraqi communications society by 38% of the customer base over 11.2 million subscribers.

According to the statement, Al-Kharafi said: "there is no doubt that convinced the promising future of Zain Iraq make it going at a steady pace in promoting investment and plans to expand and modernize its network, which saw the launch of third-generation services lately, and this helped the remarkable success achieved in the telecommunications sector during the recent period, the number of mobile phone subscribers in Iraq rises very encouraging as penetration reaches over 97%.

The statement said that Zen-Iraq "is one of the first companies that contributed to the development of the telecommunications sector in Iraq; over the past years the company value portfolio pumped almost $ 5 billion since entering the Iraqi market in 2003, and is currently the company's network coverage 98% of the total for all regions.

The Iraqi market has seen in a while is exceptional and difficult security conditions, with worsening social instability, according to financial data disclosed by Zain Group in its results for the first half of the year, it had revenues of Zain Iraq 536 million dollars, while earnings before interest and tax deduction and depreciation and amortization EBITDA 194 million dollars, while net profit reached 24.4 million dollars.

The statement said, it is expected Zain Iraq data services boom during the coming period, especially after the deployment with the launch of third-generation services, where they formed the company NAT statement services accounted for 11% of revenues from data services in the group, while the company's data services accounted for 8% of total revenues, with growth rate of 5% for similar period of 2015.