The following terms and phrases, wherever mentioned herein, shall have the meanings assigned thereto unless the context otherwise requires:

SAMA: Saudi Arabian Monetary Authority.

Rules: Rules Regulating Money Changing Business.

Money Changing Business: One or more of the activities set forth in Article 11 of the Rules.

Money Changer: An establishment licensed by SAMA to conduct Money Changing Business in accordance with the provisions of the Rules.

Customer: Any natural or legal person who benefits from the services of the Money Changer or to whom these services are offered.

Invested Capital: The capital allocated by the foreign money changer for the use of its licensed branches in the Kingdom.

License: License issued by SAMA to conduct Money Changing Business.

Financial Year: The calendar year starting from 1 January and ending on 31 December.

Third Party: A service provider to whom some work and functions are outsourced. This includes the owners of the service provider, his/her employees and contract employees, as well as the entity affiliated with the Money Changer.