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KSA’s telecom regulator halts some of Mobily services

2018-10-08 05:53:46 GMT (Economies.com)
 

 

The board of the Communications and Information Technology Commission (CITC) issued a decision to suspend some of the services of Etihad Etisalat (Mobily) due to failing to fulfil some regulatory obligations.

The decision includes the suspension of sales for prepaid and postpaid packages of mobile services to new customers across the Kingdom, while the telco’s existing customers would not be affected, CITC said in a statement.   

The regulator’s chief Abdulaziz bin Salem Alruwais indicated that Mobily did not fulfil the licensing obligations and thus CITC board decided in late 2017 on a plan to address such a violation represented in not achieving the Saudization ratio for L1 Level.

 

The plan to achieve the Saudization ratio in the company’s executive management was formed in coordination with the company’s board of directors and they were officially notified about CITC decision in December, 2017; however, the company failed to fulfill such a commitment despite repeated follow-up with Mobily’s board of directors, Alruwais said.

 

He confirmed that CITC would continue to take necessary steps as to the violations to the telecommunication law and its implementing regulations and follow up on all licensed telecom operators to ensure enabling the national competencies to assume leading positions in such companies.

 

Mobily’s CEO Ahmed Abu Doma had said in July his company’s debts reached SAR 12.1 billion.

The telecom firm’s loss netted SAR 172 million during the six-month period ended June 30, 2018, compared with a net loss of SAR 352.7 million in the same period a year earlier, a drop of 51.2%.

 

Q1-18 losses amounted to SAR 93 million, compared with SAR 163 million in the year-earlier period.

 
 
 
  Symbol Last Change Chg.%
1.1310
0.0040
0.3554%
1.3323
0.0014
0.1014%
Tadawul
10810.60
-60.02
0.55%
22.926
-0.119
0.516%
69.555
-2.846
3.931%
73.85
0.41
0.56%
1790.570
5.480
0.307%
 
 
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