A circular polarizer based on bi-layer split ring structure is proposed that could achieve asymmetric fission transmission of linearly polarized wave at the dual band. Firstly, a new approach of "Fission Transmission of Electromagnetic (FTEM) waves" is introduced to understand the polarization transformation behavior for linear-to-circular polarization. The designed structure achieves broadband circularly polarized wave with an asymmetric transmission over resonance frequencies by the principle of FTEM wave. The electronics circuit of proposed structure demonstrates the transformation behavior of EM waves when the electric and magnetic coupling between the upper and lower patterned SRR is reached at the certain strength. The physics of the giant circular dichroism effect and optical activity is illustrated by the surface currents distribution on the structure. The proposed structure achieves a right-handed circularly polarized wave and left hand circularly polarized wave with high transmission at 13.94---15.70 GHz and at 16.0---17.03 GHz, respectively. The axial ratio bandwidth of 11.76 and 6.86% is obtained at the dual band. The simulated and measured results exhibit good correspondence.