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i. Participation in securities issuing, and provision of financial services related to such
issuing;
j. Individual and collective portfolio management;
k. Safekeeping and administration of cash or liquid securities on behalf of other persons;
l. Concluding life insurance contracts and other types of investment related insurance as
a provider or a broker of the insurance contract;
m. Investing, administering or managing funds on behalf of other persons;
n. Any other activity or transaction specified by the Executive Regulation of this Law.
Designated non-financial businesses and professions:
a. Real estate agents;
b. Sole-proprietors and commercial companies dealing in gold, precious stones, and
precious metals when engaging in any cash transaction as determined by the
Executive Regulation of this Law;
c. Lawyers, independent legal professionals and accountants, when they prepare,
execute, or conduct transactions for customers in relation to any of the following
activities:
i. Purchase or sale of real estate.
ii. Management of a customer's funds, including securities, bank accounts, and
other assets.
iii. Establishment, operation, or management of legal persons or legal
arrangements and the organization of related subscriptions.
iv. Buying and selling of legal persons.
d. Company and Trust Service Providers when they prepare for or carry out transactions
for a customer concerning any of the following activities:
i. Acting as a formation agent of legal persons.
ii. Acting as or arranging for another person to act as a director, secretary of a
company, or partner in a partnership or in a similar position with respect to
other legal persons.
iii. Providing a registered office, business address, or accommodation,
correspondence or administrative address for a legal person or legal
arrangement.
iv. Acting as or arranging for another person to act as trustee or an equivalent
function for a trust fund or any other legal arrangement.
v. Acting as, or arranging for another person to act as a nominee shareholder; or
e. Any other activity or profession stipulated by the Executive Regulation of this Law.
Business relationship: any business, professional or commercial relationship connected with
the professional activities of a financial institution or designated non-financial business and
profession, and which is expected to have an element of duration.
Account: any facility or arrangement by which a financial institution accepts deposits of
funds or monetary or negotiable instruments or permits withdrawals or transfers; pays the
value of checks or payment orders drawn on a financial institution or another person; or