Article 1 of the Saudi Counter-Terrorism Law Implementing Regulations

This article sets out the list of financial activities or operations referred to in paragraph (14) of Article (1) of the Law of Combating Crimes of Terrorism and its Financing. The available text does not set out that paragraph, but this list is what shows the content of the phrase "financial activities or operations" in it. They are:

1. Accepting deposits and other repayable funds, including private banking.
2. Lending, financial leasing or any other financing activity.
3. Money or currency transfer services, and exchange of foreign currencies.
4. Issuing and managing means of payment: credit and debit cards, checks and traveler's checks, payment orders, bank transfers, and electronic money.
5. Issuing financial guarantee letters or other guarantees.
6. Participating in the issue of securities and providing financial services, and managing investment portfolios.
7. Safekeeping and managing cash or securities on behalf of others, and investing, managing or operating funds on behalf of others.
8. Concluding protection, savings or other types of investment-related insurance, as insurer, broker or agent.
9. What relates to the securities provided for in the Capital Market Law and its regulations, or trading in certificates of deposit, derivatives, currencies, exchange instruments, interest rates, indices and futures contracts on basic commodities.

The practical meaning is that a party carrying out any of these activities falls within the scope of this concept in the Law. Financial institutions wishing to verify their position may consult a lawyer specialized in banking, finance and securities.