Iraq’s Communications and Media Commission (CMC) has suspended the operations of Kurdish telecom operator Korek Telecom after accusing the company of failing to meet financial and contractual obligations tied to its operating licence.
In a statement issued on Tuesday, the regulator said it had revoked a previous settlement agreement with the Erbil-based company following what it described as repeated failures to clear outstanding debts despite multiple extensions and opportunities.
The unpaid obligations, including overdue licence fees, are estimated at around two trillion Iraqi dinars, or approximately $1.5 billion, according to Iraqi media reports.
Authorities have also coordinated with local banks to begin procedures aimed at seizing company assets in an effort to recover public funds. Reports circulating in Iraq suggest the telecom operator may no longer possess sufficient assets to cover its liabilities.
The commission warned government agencies, private firms and citizens against entering into new contracts or commercial dealings with Korek Telecom while the suspension remains in effect.
The regulator added that the company would bear full legal and financial responsibility for any consequences resulting from the halt in operations.
The move marks one of the most significant regulatory actions taken against a telecommunications provider in Iraq in recent years, raising fresh questions about financial oversight and stability within the country’s telecom sector.
