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MPs demand to impose fees on international money transfers of expatriates

 

 

MPs Khaleel Al-Saleh, Omar Al- Tabtabaei, Faraaj Al-Arbeed, Hmoud Al-Khodair, Ahmed Al-Fadel, Salah Khourshed and Safa Al-Hashem have submitted a request to expedite discussion of the proposal to impose fees on international money transfers of expatriates; hoping it will be included in the agenda for the session scheduled for Tuesday.

Al-Saleh, who initiated the request, explained this bill is not aimed at increasing the financial burdens of expatriates but to introduce a staple fee for international money transfers.Al-Saleh added he will request for the proposal to be discussed during the session on May 14, insisting that the charges imposed on the remittances of expatriates will help in improving the services and add to state revenues. He denied the concerns about the negative effects of such decisions on the real estate sector, stressing that this policy is implemented in most countries around the world.

On the other hand, it seems there are two parallel lines that do not meet on the implementation of state plans to attract foreign funds. While ministries and government agencies are calling for facilitating the business environment and creating an attractive environment for foreign investment, there are occasional voices calling for higher fees for expatriates.This trend is seen by economists as an additional tool that slows down the wheel of Kuwait’s transformation into a financial and commercial center in the region.

Money transfers have reached KD 19 billion in the past five years; so if a staple fee is implemented, the State will earn KD 200 million per year.-A.T.

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