AML/CFT: Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations.

Beneficial owner: The natural person who owns or exercises effective ultimate control, directly or indirectly, over a client; or the natural person on whose behalf a transaction is being conducted; or the natural person who exercises effective ultimate control over a legal person or legal arrangement.

Beneficiary Hawala Provider: The beneficiary's Hawala Provider, or receiving Hawala Provider, that receives the funds or equivalent value from the Originating Hawala Provider.

CBUAE Regulations: Any resolution, regulation, circular, rule, instruction, standard or notice issued by the CBUAE.

Hawala Activity: The arrangements for transfer and receipt of funds or equivalent value and settlement through trade and cash.

Hawala Provider Certificate: The Certificate issued by the CBUAE for carrying on Hawala activity in the UAE.

Legal person: Any entities other than natural persons that can establish in their own right a permanent customer relationship with a financial institution or otherwise own property. This can include companies, bodies corporate, foundations, partnerships, or associations, along with similar entities.

Money or Value Transfer Service (MVTS): financial services that involve the acceptance of cash, cheques, other monetary instruments or other stores of value and the payment of a corresponding sum in cash or other form to a beneficiary by means of a communication, message, transfer, or through a clearing network to which the MVTS provider belongs.

Originating Hawala Provider: The originator's Hawala Provider, or sending Hawala Provider, that initiates and carries out the transfer of funds or equivalent value to the Beneficiary Hawala Provider.

Registered Hawala Provider: Any natural person holding a valid residency visa or Legal Person, who is registered in the CBUAE's Hawala Providers Register in accordance with the provisions of its Circular No. 24/2019, including its agents or a network of agents.

Registered Hawala Provider Agent: Any natural or legal person carrying out activity outside the UAE on behalf of a Registered Hawala Provider.