The following terms and phrases – wherever mentioned in this Guide – shall have the meanings assigned thereto unless the context requires otherwise:

SAMA:

Saudi Arabian Monetary Authority.

Saudi Arabia Financial Investigation Unit (SAFIU):

The authority authorized to receive and analyze reports of activities suspected of being related to money laundering and terrorist financing from all financial and non-financial institutions.

Financial Action Task Force (FATF):

An inter-governmental body that sets standards and promotes effective implementation of legal, regulatory and operational measures to combat money laundering terrorism financing, proliferation financing and other threats related to the integrity of the international financial system.

Centers:

Banks’ remittance centers and licensed remittance companies.

Bank:

The bank to which the remittance center belongs.

Remittance Membership / Membership:

A register with a bank’s remittance center established by virtue of a contract called "Remittance Membership Opening Agreement" signed by the center and the membership holder (the customer) that includes all of said customer's information. This agreement constitutes rights and obligations for both parties in accordance with the relevant regulations and instructions.