BB's Stock Haven

[mgland]

The Cyprus move is not unusual in the Islamic world. My Son pointed it out to me

Zakat (Arabic: ????? [zæ'kæ?], "that which purifies"[1]), is the giving of a fixed portion of one's wealth as a tax, generally to the administration or government and is one of the Five Pillars of Islam.

Saudi Arabia has it
Introduction
Tax in Saudi Arabia consists primarily of corporate income tax,
withholding tax, and Zakat. Non-Saudi nationals are taxed on
income from self-employment, income from capital investment,
and income from any business activity conducted in the Kingdom of
Saudi Arabia at a rate of 20 percent.
Citizens of Saudi Arabia and the Gulf cooperating countries
(Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates) are
generally exempt from the payment of income tax but, instead,
are subject to the payment of Zakat. Zakat is a religious tax based
on Islamic law (the Sharia) and is assessed on earnings and
holdings
http://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/thinking-beyond-borders-2011/