(see rule 1.1.3)
AAOIFI means the Accounting and Auditing Organisation for Islamic Financial Institutions.
accounting standards include accounting rules, principles, practices and conventions.
advising on investments includes:
advisory firm has the meaning given by rule 5.1.2(1).
affiliate, of an INMA firm, means any entity of which the firm holds 10% or more, but less than a majority, of the voting power.
approved representative, of an INMA firm, has the meaning given by rule 5.2.5.
arranging financing facilities includes:
arranging deals in investments includes:
arranging the provision of custody services includes:
associate of an INMA firm means any other entity in the same corporate group as the firm.
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.
branch means the local office in the QFC of a legal person incorporated outside the QFC.
business customer, of an INMA firm, has the same meaning as in CIPR.
business day means a day that is not a Friday, a Saturday, or a public or bank holiday in Qatar.
cheque includes a payable order of any other kind.
CIPR means Customer and Investor Protection Rules 2019.
client bank account has the meaning given by rule 5.5.1.
client money has the meaning given by rule 5.2.2.
client money distribution rules means the provisions of Part 5.10.
client money protection rules means the provisions of Part 5.5.
CM requirement has the meaning given by rule 5.9.1.
CM resource has the meaning given by rule 5.9.1.
COLL means the Collective Investment Schemes Rules 2010.
collective investment scheme has the same meaning as in COLL.
contingent liability transaction, in relation to an INMA firm and a customer, means a transaction in a relevant investment under the terms of which the customer will be, or may be, liable to make further payments (other than charges, and whether or not secured by margin) either when the transaction is to be completed or on the earlier closing out of the customer's position.
corporate group: an INMA firm's corporate group is made up of:
CTRL means the Governance and Controlled Functions Rules 2012.
custody investment has the meaning given by rule 6.1.4.
customer, of an INMA firm, means a person to whom the firm provides, has provided or offers to provide a service or product, and is one of the following:
customer dispute resolution scheme, means the scheme established under the Customer Dispute Resolution Scheme Rules 2019.
dealing in investments includes:
eligible bank has the meaning given by rule 5.2.3.
eligible clearing house means a clearing house that meets the following requirements:
eligible counterparty, in relation to an INMA firm, means a customer of the firm that is any of the following:
eligible custodian has the meaning given by rule 6.1.3.
eligible exchange means a regulated exchange for which the Regulatory Authority has not, by notice published on an approved website, declared that this definition does not apply to the jurisdiction in which the exchange is incorporated or established.
Note Regulated exchange is defined in this Glossary.
eligible third party has the meaning given by rule 5.2.4.
entity means any kind of entity, and includes, for example, any person.
financial group of an INMA firm has the meaning given by rule 3.3.8(2).
firm-related distribution event has the meaning given by rule 5.10.1.
FSR means the Financial Services Regulations.
GENE means the General Rules 2005.
governing body of an entity means its board of directors, committee of management or other governing body (whatever it is called).
hold money has the meaning given by rule 5.2.1.
home financial services regulator for an entity means the regulator responsible for the prudential regulation of the entity in the jurisdiction where the entity's authorisation or licence was granted.
IAH means investment account holder of a restricted PSIA.
IBANK means the Islamic Banking Business Prudential Rules 2015.
IFRS means the International Financial Reporting Standards, as amended and in force from time to time.
INMA firm means an authorised firm to which, under rule 1.1.4, these rules apply.
independent entity has the same meaning as in COLL.
investments includes Islamic investments.
investment and advisory business means the business of conducting, in or from the QFC, any of the activities mentioned in rule 1.1.4.
investment business firm has the meaning given by rule 5.1.2(1).
investment manager means an authorised firm that is engaged in:
investment research means a publication (other than a personal recommendation) that contains:
Islamic financial institution means an authorised firm whose authorisation includes a condition that the whole of the firm's business must be conducted in accordance with Shari'a.
Islamic INMA firm has the meaning given by rule 9.1.1 (1).
Islamic investments has the meaning given by rule 1.1.3A (2).
jurisdiction means any kind of legal jurisdiction, and includes, for example:
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.
managing investments includes:
money is any form of money of any currency, and includes a cheque.
Note Cheque includes a payable order of any other kind — see this glossary.
month means calendar month — that is, the period beginning at the start of any day of one of the 12 named months of the year and ending:
non-QFC intermediary, of an INMA firm, has the meaning given by rule 5.2.6.
operating a collective investment scheme has the same meaning as in COLL.
operator (of a QFC scheme) has the same meaning as in COLL.
overseas regulator means a regulatory or governmental authority, body or agency outside the QFC (whether in the State of Qatar or elsewhere).
paid-up share capital, for an INMA firm that is not a company, means the equity (however described) of the members or owners of the firm.
parent entity, for a legal person (A), means any of the following:
private placement scheme has the same meaning as in the Private Placement Schemes Rules 2010.
providing custody services includes:
providing scheme administration has the same meaning as in COLL.
PSIA means profit-sharing investment account.
QFC means Qatar Financial Centre.
QFC Authority means the Qatar Financial Centre Authority established under article 3, Law No. 7 of 2005 of the State of Qatar.
QFC bank means an authorised firm that is:
QFC scheme has the same meaning as in COLL.
regulated activity means an activity that is a regulated activity under FSR.
regulated exchange means an exchange:
Regulatory Authority means the Qatar Financial Centre Regulatory Authority.
related person: a person (the second person) is related to another person (the first person) if:
relevant investments means:
research recommendation means research or other information:
but does not include:
restricted PSIA has the meaning given by rule 9.1.2(2).
retail customer, of an INMA firm, means a customer of the firm who is neither a business customer nor an eligible counterparty.
Rules means rules made by the Regulatory Authority under FSR, article 15 (1), and includes:
scheme property has the same meaning as in COLL.
shortfall, in relation to a calculation under rule 5.9.1, is the amount by which an INMA firm's CM resource is less than its CM requirement.
Note CM resource and CM requirement are defined in rule 5.9.1 and this glossary.
stock lending means an arrangement between a person (the borrower) and another person (the lender) under which:
structured capital at risk investment means an investment, other than a derivative, that provides an agreed level of income or growth over a specified investment period and has the following characteristics:
subsidiary: a legal person (A) is a subsidiary of another legal person (B) if B is a parent entity of A.
surplus, in relation to a calculation under rule 5.9.1, is the amount by which an INMA firm's CM resource exceeds its CM requirement.
Note CM resource and CM requirement are defined in rule 5.9.1 and this glossary.
terms of business (of an INMA firm for a customer) means a statement in writing of the terms on which the firm will conduct investment and advisory business with or for the customer.
Note Under CIPR, Parts 4.4, 5.2 and 5.3, an INMA firm must give a customer a statement, in writing, of the terms and conditions on which the firm will conduct investment and advisory business for the customer.
third party account (of an INMA firm) means an account with an eligible third party in which client money is (or is to be) held by the firm.
third-party-related distribution event has the meaning given by rule 5.10.2.
unit (in a collective investment scheme) has the same meaning as in COLL.
US GAAP means the United States Generally Accepted Accounting Principles, as amended and in force from time to time.
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 QFCRA RM/2019-4 (as from 1st January 2020).|
|Amended by QFCRA RM/2020-1 (as from 15th August 2020)|