The connection to Iran’s Islamic Revolutionary Guard was unearthed by two non-governmental organisations
Wafa Telecom, which was given a licence to operate in Syria in February has been found to have links to Iran’s Islamic Revolutionary Guard Corps (IRGC). This is according to research carried out by the Organised Crime and Corruption and Reporting Project (OCCRP) and Observatory of Political and Economic Networks (OPENSyr).
The awarding of a third mobile operating licence for Syria was massively delayed by the civil war and was originally scheduled for 2011.
The main operator, Syriatel, has more than 11 million subscribers – the country’s population is around 17.5 million. The second operator, MTV Syria, has operated in the country for 15 years, but reportedly took the decision to pull out of the market last year after various regulatory shenanigans and demands for licence payments.
Wafa was set up in 2017, when the Syrian government said the firm was domestically owned, but little was made public about its ownership. Later it become known that Wafa was owned by a Syrian businessman with connections in the Assad government, and was allowed to buy kit from Iranian vendors, which are under an international trade embargo.
Formal partnership?
Now investigations by OCCRP and OPENSyr reveal that several international businesses linked to the IRGC are among Wafa’s shareholders. It quotes an anonymous source identified as a Syrian businessman and former government official claiming Wafa is “a partnership between the Syrian government and the Revolutionary Guard.”
The report says that 48% of shares in the state operator were held by Wafa Invest, a domestic firm co-founded by Yasar Ibrahim – a former aide to Assad who faces US and EU sanctions for acting as his financial proxy. At some time later, Wafa Invest’s stake in the operator fell to to 28%, with state-backed Syria Telecom gaining ownership of the 20%.
The majority (52%) shareholding in Wafa Telecom was held by Arab Business Company (ABC), which the Syrian government maintained was locally owned. The reports found that the Malaysian-registered Tioman Golden Treasure has substantial connections through both current and past owners and officials to both companies and individuals linked to the IRGC –many of which are subject to international sanctions.
Before Wafa was granted the operating licence, Iran was pressurising Syria to allow an Iranian-owned operator into Syria’s market as Tehran was keen to gain some return for its support of the Assad regime. It looks like maybe it succeeded.