We are talking about a tax of 2% on each transaction. But the decision to introduce the tax causes a lot of controversy among business, government and the banking sector, which consider it unlawful.
The initiators of the tax are of the opinion that it will be able to increase state revenues. They believe that this way foreigners will transfer less money abroad and will spend it inside Bahrain. Estimates show that annual transfers abroad amount to $3.2 billion.
The document is already under consideration by the Advisory Council.