January 11, 2012

The TRA represented by its Acting Chairman and CEO Dr. Imad Y. Hoballah and KPMG, represented by Mr. Edgard Joujou, entered into a contract valued at $5,000 on December 14, 2011 for the implementation of the Financial Audit services part of the Institutional Development Fund (IDF) of the World Bank for the “Telecommunications Regulatory Capacity Building” project.

The objective of the Financial Audit services part of the grant is to improve the Authority’s standing as a credible, efficient, and responsive regulator. The Financial Audit services encompass the hiring of an independent and qualified audit firm to undertake annual audits of the books related to the IDF grant activities. A total of three audits will be completed, with one at the end of every financial year for the IDF grant activities.

Contracts for other parts of the above mentioned project will be announced in due time.