Zain Saudi Arabia

Mobile Telecommunication Company Saudi Arabia
Zain
Public
Traded as Tadawul: 7030
ISIN SA121053DR18
Founded 12 March 2008 (2008-03-12)
Headquarters King Fahad Highway, Riyadh, Saudi Arabia
Area served
 Saudi Arabia
Key people
 Farhan Bin Naif Al-Faisal Al-Jarba (Chairman)
Website www.sa.zain.com

Mobile Telecommunication Company Saudi Arabia is a telecommunications services company that offers fixed line, mobile telephony, and Internet services under the brand name Zain Saudi Arabia. Zain was the third mobile network operator in Saudi Arabia. It was launched on 26 August 2008[1][2][3] and it enrolled more than 2 million subscribers within 4 months of its launch.

History

The Mobile Telecommunication Company Saudi Arabia was incorporated as a joint stock company to operate the third mobile telecommunications network in Saudi Arabia based on the Council of Ministers Resolution No. 175 dated 11 June 2007. The company was registered under the Commercial Registration number (1010246192) on 12 March 2008.[4] The company paid $6.1 billion for a license to operate in Saudi Arabia for 25 years.[5] Mobile Telecommunication Company Saudi Arabia was listed on the Tadawul on 22 March 2008.[4]

Zain launched mobile services in Saudi Arabia on 26 August 2008.

The company negotiated a $2.5 billion Islamic loan in 2009.[6]

Zain appointed a new chairman on 23 March 2013, without giving any further information as is common in Saudi Arabia. This news came within a week of Saudi Telecom's (STC) CEO resigning from his position.[7][8]

References

  1. ↑ "Zain to launch mobile phone services in Saudi Arabia today". Gulf News. 26 August 2008. Retrieved 7 October 2009.
  2. ↑ "Zain Takes One Network to Saudi Arabia.". The Monitor (Uganda). 30 September 2008. Retrieved 7 October 2009.
  3. ↑ "Zain delays launch of Saudi mobile services for testing.". MEED Middle East Economic Digest. 20 June 2008. Retrieved 7 October 2009.
  4. 1 2 "Company Details". www.tadawul.com.sa. Retrieved 2016-10-02.
  5. ↑ "Zain to launch mobile phone services in Saudi Arabia today". www.dubaicityinfo.com. Retrieved 2016-10-02.
  6. ↑ Mangham, Christopher (1 October 2009). "RLPC-Middle East syndicated loans hit five-year low". Reuters via Forbes. Archived from the original on 5 October 2009. Retrieved 7 October 2009.
  7. ↑ "New chairman for telecom provider Zain Saudi". Reuters. 23 March 2013.
  8. ↑ http://www.arabnews.com/news/445252
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