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Sun 20 Nov 2016 05:52 PM

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Central Bank of Bahrain could issue ban on additional fees for credit card owners

UAE has imposed the ban in health and education sectors as well as on airline ticket purchases

Central Bank of Bahrain could issue ban on additional fees for credit card owners

The Central Bank of Bahrain (CBB) could be allowed to ban the charging of additional fees on the transactions of credit card users.

The parliament will discuss introducing the new draft law during its weekly session on Tuesday, reported Gulf Daily News.

The law would authorise the bank to implement regulations that protect customers of financial institutions.

In October 2015, the UAE’s Ministry of Economy also proposed a ban on the collection of additional fees for credit card services and transactions.

It had already imposed the ban in health and education sectors as well as on airline ticket purchases.

Despite the ban, several educational institutions in Abu Dhabi were charging 2.5 percent on school fee payments made with credit cards, according to reports.

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