Ahmed Al Salloom was re-elected as chairman of the Financial and Economic Affairs Committee on 20 October 2026. The committee, tasked with overseeing significant national fiscal and economic policies, held its internal leadership elections as part of its procedural duties for the upcoming parliamentary session. Addressing upcoming legislative priorities, he stated, "We have nothing carried over." Regarding the legislative agenda, he added, "We are trying to finish it before the end of November so it can be brought before Parliament by then, if we reach agreement." Mr. Al Salloom emphasized the balance required in current financial deliberations. "We must look at what is needed for the budget to pass, alongside what Bahraini citizens need and what MPs seek to achieve," he said. "That is the equation."
Committee Leadership and Internal Elections
MP Mohammed Al Maarafi secured the position of vice-chairman of the Financial and Economic Affairs Committee on 20 October 2026. Members of the committee elected him to the role with a total of five votes. His appointment marks a key step in finalizing the committee’s organizational structure for the new parliamentary term. The election process was conducted internally among the committee members to ensure leadership continuity and to prepare for the heavy legislative workload anticipated in the coming months.
Legislative focus remains on the government’s proposed corporate income tax bill currently under committee review. This bill specifically targets company profits that exceed BD200,000. The committee is presently evaluating the potential economic impact of this proposal as it navigates the technical requirements of the tax framework. Discussions regarding the bill involve an assessment of how such taxation structures align with the national economic strategy and the needs of the commercial sector.
State revenue figures show that a separate tax on large multinational companies has generated more than BD150 million for the national budget. Officials expect this income to remain a factor in upcoming deliberations regarding fiscal policy. The revenue generated from this specific tax stream has provided a notable contribution to the treasury, influencing how the committee approaches future budget planning and expenditure management. The committee continues to monitor these revenue streams closely to ensure fiscal stability.
Reviewing international tax cooperation, the committee has processed more than 50 double taxation agreements in previous parliamentary sessions. These agreements aim to manage the tax treatment of cross-border activities as part of the broader financial legislative record. By formalizing these international arrangements, the committee seeks to provide clarity for businesses operating across borders and to uphold the national commitment to global financial standards. These agreements remain a cornerstone of the committee's legislative history and its ongoing efforts to refine the nation's regulatory environment.
