Korek Telecom reaches $1.25 billion settlement with Iraqi Communications Commission

ERBIL (Kurdistan24) – Korek Telecom has reached a significant financial agreement with the Iraqi Communications and Media Commission (CMC) after a series of meetings, according to Zahra Bajari, head of the Transportation and Communications Committee in the Iraqi Parliament.

Speaking to Kurdistan24 on Wednesday, Bajari announced that Korek Telecom is required to pay $1.25 billion to the CMC over six years. "This amount has been agreed upon following extensive discussions between both sides," Bajari stated.

Korek Telecom, a major mobile service provider in Iraq, has expressed its commitment to fulfilling its payment obligations. "The first installment of the settlement is expected to be paid next week," Bajari confirmed. She also noted that after this initial payment, the CMC will formally notify the Iraqi government, paving the way for the lifting of restrictions currently placed on Korek Telecom’s operations. "Once the restrictions are lifted, Korek Telecom’s services are expected to normalize across the entire country," she added.

Korek Telecom, which has been operational in Iraq since 2000, expanded its reach in 2007 after becoming one of three companies licensed to operate nationwide. Today, its services cater to more than 45 million people across Iraq.

This agreement marks a pivotal step in resolving long-standing financial disputes and is expected to boost telecommunications services across the country.