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7.1. Eligible AFAQ Transactions

Effective from May 06 2021 - May 04 2021
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7.1.1The Direct Participant must ensure that AFAQ Transactions shall be effected solely for Genuine Client Needs. For the purposes of these Rules, Genuine Client Needs means bona fide financial and payment needs of non-banking clients of financial institutions participating in the AFAQ system, including (but not limited to) payments arising from bilateral commercial trade activities, remittances and consumer payments.
 
7.1.2The Direct Participant shall place adequate measures to ensure that the Service is utilized in a manner consistent with clause 7.1.1.
 
7.1.3The Direct Participant shall not, nor shall it permit any of its clients to engage in or be part of Arbitrage or Speculative Activities to profit from any price differences that may exist from time to time between the Foreign Exchange Rates used within the Service and any rates used in other foreign exchange markets.