IT and telecoms services start up for Mena region
Former Zain group chief executive Dr Saad al-Barrak has set up a new information technology (IT) and telecoms company, called ILA, which will provide management and consultancy services.
The new firm will be based in Bahrain. ILA will operate across the Middle East and North Africa (Mena) region and will also target East Europe and the Americas.
Al-Barrak is the majority stakeholder and investor in ILA. Further details of the company will be announced on 8 November at a press conference in Abu Dhabi.
Al-Barrak resigned from his role as chief executive of Kuwaiti telecoms operator Zain in February 2010. In this role, he oversaw the $3.4bn acquisition of Netherlands-based Celtel and won numerous licences to propel Zain to become the world’s third-largest mobile operator.