Bahrain mulls curbs on corporate fundraising
Manama, September 23, 2013
Bahrain could soon impose restrictions on private and corporate fundraising as part of attempts to thwart terrorist funding, a report said.
Social Development Minister Dr Fatima Al Balooshi yesterday presented a series of draft by-laws to the Cabinet, which have been referred to a ministerial committee for study, reported the Gulf Daily News, our sister publication.
A Royal decree was issued by His Majesty King Hamad last month to regulate funding activities.
It follows the approval of 22 recommendations by the National Assembly to combat terrorism during an extraordinary session in July.
Minister of State for Information Affairs and official government spokeswoman Sameera Rajab said Bahrain's laws already covered civil and political societies, clubs and organisations, but not individuals and corporates.
"Fundraisers by civil establishments come under the Social Development Ministry, while political societies come under the Justice, Islamic Affairs and Endowment Ministry," she explained.
"Individuals or private companies and firms don't come under the monitoring of anyone and their gathering of money or the genuineness of their purposes is never officially identified before it goes ahead.
"Our aim is to regulate raising money and ensure it is being used in rightful places rather than funding terrorist activities." – TradeArabia News Service