(see rule 1.1.2)
AAOIFI means the Accounting and Auditing Organisation for Islamic Financial Institutions.
approved form means a form approved under rule 5.3.1.
approved individual means an individual approved under FSR, article 41 to perform 1 or more controlled functions.
associate, of a person (X) holding shares in an authorised firm (or a parent entity of an authorised firm) or entitled to exercise, or control the exercise of, voting power in an authorised firm (or a parent entity of an authorised firm), means:
authorisation means an authorisation granted under FSR, Part 5.
authorised firm (or firm) means a person that has an authorisation.
BANK means the Banking Business Prudential Rules 2014.
body corporate means a company or limited liability partnership incorporated in or outside the QFC.
branch means a legal entity incorporated in a jurisdiction outside the QFC. A firm that is a branch is the local office in the QFC of a company or limited liability partnership incorporated in a jurisdiction outside the QFC.
business day means a day that is not a Friday, Saturday, or a public or bank holiday in Qatar.
CAPI means the Captive Insurance Business Rules 2011.
control (of the exercise of voting power) — see rule 8.1.6 (3).
controlled function has the meaning given by FSR, article 41 (2).
Note See CTRL, ch 3 for the functions that are controlled functions.
controller — see rule 8.1.3 (1).
contravene includes fail or refuse to comply with.
CTRL means the Governance and Controlled Functions Rules 2012.
decrease control — see rule 8.1.5.
director, of a firm, means a person appointed to direct the firm's affairs, and includes:
DNFBP means designated non-financial business or profession (within the meaning of the Anti-Money Laundering and Combating the Financing of Terrorism Rules 2019).
document means a record of information in any form (including electronic form) and includes, for example:
employee, of a person, means an individual:
entity means any kind of entity, and includes for example, any person.
firm (or authorised firm) means a person that has an authorisation.
first become a controller — see rule 8.1.3 (3).
fitness and propriety, of an authorised firm or applicant, has the same meaning as in FSR, article 29.
FSR means the Financial Services Regulations.
function includes authority, duty and power.
governing body means:
group, in relation to a legal person (A) means the following:
IBANK means the Islamic Banking Business Prudential Rules 2015.
IMEB means the Insurance Mediation Business Rules 2011.
INAP means the Interpretation and Application Rules 2005.
increase control — see rule 8.1.4.
INMA means the Investment Management and Advisory Rules 2014.
ISFI means the Islamic Finance Rules 2005.
Islamic financial business means the business of carrying on 1 or more regulated activities in accordance with Shari'a.
Islamic financial institution has the meaning given by ISFI, rule 1.2.2.
Islamic window has the meaning given by ISFI, rule 8.1.1.
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, any entity that can own, deal with or dispose of property.
month means calendar month — that is, the period beginning at the start of any day of 1 of the 12 named months of the year and ending:
parent entity of a legal person (A) means any of the following:
PINS means the Insurance Business Rules 2006.
QFC means the Qatar Financial Centre.
regulated activity means an activity that is a regulated activity under FSR.
regulated exchange means an means an exchange:
Regulatory Authority means the Regulatory Authority of the QFC.
shares in relation to a controller has the meaning given in FSR, article 37 (3).
subsidiary — a legal person (A) is a subsidiary of another legal person (B) if B is the parent entity of A.
type of control means any of the types of control in rule 8.1.3 (1).
voting power — see rule 8.1.6 (1).
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).
|Amended by RM/2018-4 (as from 1st August 2018)
Amended by QFCRA RM/2020-6 (as from 15th October 2020).