Bahraini MPs Seek to Impose Fees on Money Transfers outside Bahrain
2015-10-20 - 9:50 p
Bahrain Mirror: Al-Ayam Newspaper, owned by one of the advisors to the Bahraini King Nabeel Al-Hamer, reported that the Bahraini parliament will discuss in its next session an urgent bill raised by 5 member of parliament to"impose fees on money transfers outside the country," and urging the government to take necessary measures for its implementation.
The five MPs said that official statistics reveal that the value of foreign money transfers from the Kingdom of Bahrain to countries abroad reaches up to 2.5 billion BD, pointing out that the oil revenues in the island kingdom only represent about 14% of the general revenues.
They further stated that this proposal comes after some Gulf and Arab states decided to impose fees on the value of transfers that have greatly increased, and if implemented will add large revenues to the state general budget.
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