AMLG Glossary

(see rule)

activity includes operation.

AML means anti-money laundering.

AML/CFT Law means Law No. (20) of 2019 on Combating Money Laundering and Terrorism Financing and includes any Regulations made under it.

another jurisdiction means a jurisdiction other than this jurisdiction.

applicant for business has the meaning given by rule 4.2.2.

associate, in relation to a legal person (A), means any of the following:

(a) a legal person in the same group as A;

(b) a subsidiary of A.

business day means any day that is not a Friday, Saturday or a public holiday in Qatar.

CDD means customer due diligence.

CFT means combating the financing of terrorism.

customer has the meaning given by rule 1.3.2.

Deputy MLRO, in relation to a firm, means the firm's deputy money laundering reporting officer.

director, of a firm, means a person appointed to direct the firm's affairs, and includes:

(a) a person named as director; and

(b) any other person in accordance with whose instructions the firm is accustomed to act.

document means a record of information in any form (including electronic form), and includes, for example:

(a) anything in writing or on which there is writing; and

(b) anything on which there are figures, marks, numbers, perforations, symbols or anything else having a meaning for individuals qualified to interpret them; and

(d) any other item or matter (in whatever form) that is, or could reasonably be considered to be, a record of information.

employee, in relation to a person (A), means an individual:

(a) who is employed or appointed by A, whether under a contract of service or services or otherwise; or

(b) whose services are, under an arrangement between A and a third party, placed at the disposal and under the control of A.

entity means any kind of entity, and includes, for example, any person.

exercise a function means exercise or perform the function.

firm has the meaning given by rule 1.3.1.

FIU means the Financial Intelligence Unit established under the AML/CFT Law.

foreign jurisdiction means a jurisdiction other than Qatar (which includes the Qatar Financial Centre).

function means any function, authority, duty or power.

funds means assets or properties of every kind (whether physical or non-physical, tangible or intangible or movable or immovable, however acquired, and of any value), including:

(a) financial assets and all related rights;

(b) economic resources such as oil and other natural resources, and all related rights;

(c) legal documents or instruments in any form, including electronic or digital copies, evidencing title to, or share in, such assets or resources;

(d) any interest, dividends or other income on such assets or resources; and

(e) any value accruing from, or generated by, such assets or resources, which could be used to obtain funds, goods or services.

general insurance firm has the meaning given by rule 1.3.1.

governing body, of a firm, means its board of directors, committee of management or other governing body (whatever it is called).

group, in relation to a firm, means 2 or more entities consisting of:

(a) a parent company or other legal person exercising control, and coordinating functions, over the rest of the group for the application of group supervision; and

(b) 1 or more branches or subsidiaries that are subject to AML/CFT policies, procedures systems and controls at group level.

IMEB means the Insurance Mediation Business Rules 2011.

instrument means an instrument of any kind, and includes, for example, any writing or other document.

jurisdiction means any kind of legal jurisdiction, and includes, for example:

(a) Qatar;

(b) a foreign country (whether or not an independent sovereign jurisdiction), or a state, province or other territory of such a foreign country; and

legal person means an entity (other than an individual) on which the legal system of a jurisdiction confers rights and imposes duties, and includes, for example:

(a) any entity that can establish a permanent customer relationship with a financial institution; and

(b) any entity that can own, deal with, or dispose of, property.

Examples

1 a company

2 any other corporation

3 a partnership, whether or not incorporated

4 an association or other undertaking, whether or not incorporated

5 a jurisdiction, its government or any of its organs, agencies or instrumentalities

MLRO, in relation to a firm, means the firm's money laundering reporting officer.

money laundering has the same meaning as in the AML/CFT Law, Chapter 2, Article (2).

NAMLTF Committee means the National Anti-Money Laundering and Terrorism Financing Committee established under the AML/CFT Law.

National Risk Assessment means the series of activities prepared and supervised by the NAMLTF Committee to identify and analyse the threats faced by Qatar and its financial system from money laundering, terrorism financing, and the financing of the proliferation of weapons of mass destruction.

office includes position.

outsourcing, in relation to a firm, is any form of arrangement that involves the firm relying on a third-party service provider (including a member of its group) for the exercise of a function, or the conduct of an activity, that would otherwise be exercised or conducted by the firm, but does not include:

(a) discrete advisory services, including, for example, the provision of legal advice, procurement of specialised training, billing, and physical security;

(b) supply arrangements and functions, including, for example, the supply of electricity or water and the provision of catering and cleaning services; or

(c) the purchase of standardised services, including, for example, market information services and the provision of prices.

parent entity, in relation to a legal person (A), means any of the following:

(a) a legal person that holds a majority of the voting power in A;

(b) a legal person that is a member of A (whether direct or indirect, or through legal or beneficial entitlement) and alone, or together with 1 or more associates, holds a majority of the voting power in A;

person means:

(a) an individual (including an individual occupying an office from time to time); or

(b) a legal person.

PINS means the Insurance Business Rules 2006.

proceeds of crime means funds derived or obtained, directly or indirectly, from a predicate offence (within the meaning given by the AML/CFT Law, Chapter 1), including any income, interest, revenue or other product from such funds, whether or not the funds have been converted or transferred, in whole or in part, into other properties or investment yields.

product includes the provision of a service.

QFC means Qatar Financial Centre.

senior management, of a firm, means the firm's senior managers, jointly and separately.

senior manager, of a firm, means an individual employed by the firm, or by a member of the firm's group, who has responsibility either alone or with others for management and supervision of 1 or more elements of the firm's business or activities that are conducted in, from or to this jurisdiction.

subsidiary — a legal person (A) is a subsidiary of another legal person (B) if B is a parent entity of A.

suspicious transaction report, in relation to a firm, means a suspicious transaction report to the firm's MLRO or by the firm to the FIU.

targeted financial sanction means asset freezing or any prohibition to prevent funds from being made available, directly or indirectly, for the benefit of persons or entities listed in accordance with the Law No. (27) of 2019 on Combating Terrorism.

Note Under the Law on Combating Terrorism, the National Counter Terrorism Committee is responsible for implementing the requirements relating to targeted financial sanctions. For how to implement targeted financial sanctions, see guidelines under that Law.

terrorist means an individual who:

(a) commits, or attempts to commit, a terrorist act by any means, directly or indirectly, unlawfully and wilfully;

(b) participates as an accomplice in a terrorist act;

(d) contributes to the commission of a terrorist act by a group of persons acting with a common purpose if the contribution is made intentionally and with the aim of furthering the terrorist act or with the knowledge of the intention of the group to commit a terrorist act.

terrorism financing has the same meaning as in the AML/CFT Law, Chapter 2, Article (3).

terrorist act has the same meaning as in the AML/CFT Law, Chapter 1.

terrorist organisation means a group of terrorists.

the Regulator means the Qatar Financial Centre Regulatory Authority.

this jurisdiction means the QFC.

tipping-off has the meaning given by rule 5.2.1.

transaction means a transaction or attempted transaction of any kind, and includes, for example:

(a) the giving of advice;

(b) the provision of any service; and

writing means any form of writing, and includes, for example, any way of representing or reproducing words, numbers, symbols or anything else in legible form (for example, by printing or photocopying).

Derived by QFCRA RM/2019-9 (as from 1st February 2020)

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AMLG Glossary