July 19, 2018 / 9:35 AM / 3 months ago

Kenyan court temporarily suspends "Robin Hood" tax on bank transfers

NAIROBI, July 19 (Reuters) - Kenya’s High Court has temporarily suspended a “Robin Hood” tax on bank transfers of over 500,000 shillings ($5,000), which was imposed at the beginning of this month, the Kenya Bankers Association said on Thursday.

Finance Minister Henry Rotich introduced the so called “Robin Hood” tax of 0.05 percent in his budget speech last month. It was introduced on July 1. ($1 = 100.6500 Kenyan shillings) (Reporting by Duncan Miriri Editing by Alison Williams)

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