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Form Q02Application for authorisation

Applicant name

Contact name at firm

Date application made

Proposed QFC trading name

Proposed QFC legal status(LLC, LLP or branch)

Please submit this form to:QFC Regulatory AuthorityAuthorisation departmentLevel 14, QFC Tower 1PO Box 22989, Doha, QatarTel: +974 44956888Fax: +974 44835031Email: [email protected]

For QFC Regulatory Authority Use

Date received:

Received by:

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mailto:[email protected]

Completing the application

A complete application comprises the following:

Form Q02 Form Q03Complete a separate Form Q03 for each individual proposing to exercise a controlled function, see Section 2.4

CRO FormComplete the relevant CRO Form (For LLCs - Form CRO1;For Branches – Form CRO-02;For LLPs - Form CRO-03; For Branches of LLP - Form CRO-04)

Form Q02

Before completing this Form Q02, prospective applicants should meet with the Qatar Financial Centre Regulatory Authority (“QFC Regulatory Authority”) to discuss their proposed application.

When requested to do so, this form should be completed by all applicants* seeking authorisation by the QFC Regulatory Authority to conduct regulated activities, in or from the Qatar Financial Centre (QFC) except if the applicant intends to be a Representative Office, in which case a Form Q02-R should be completed. Additional information, frequently asked questions and guides are available from the QFC Regulatory Authority’s website https://www.qfcra.com/guides/ .

Answers must be in English and typewritten;

All questions must be answered in full and abbreviations avoided;

Dates must be provided in the format: dd/mm/yyyy;

Where requested, please confirm that a supporting document has been attached by checking the appropriate box ( ) under the ‘Yes’ column;

All supporting documents attached to the application must be clearly labelled and appropriately cross-referenced to each question to allow them to be readily identified;

If a question is not applicable, please state or indicate this. If any question is left blank, the QFC Regulatory Authority may treat the application as incomplete and return it to the applicant;

Except where otherwise stated in the application, answers must relate to the applicant, not to a group entity, and to the permitted activities proposed to be carried on in or from the QFC; and

The application must be signed and dated by two members of the governing body of the applicant - as described under the QFC Regulatory Authority’s Governance and Controlled Functions Rules (“CTRL”) as amended from time to time.

Incorporation/registration with the Companies Registration Office

To be granted authorisation by the QFC Regulatory Authority to conduct regulated activities, the applicant must establish a legal presence within the QFC. The applicant should complete and submit the relevant Companies Registration Office (“CRO”) form with the Q02 application. The information submitted in the CRO form will be used by the CRO either to incorporate the applicant as a limited liability company (“LLC”), a limited liability partnership (“LLP”), or to register a branch office.

In accordance with the QFC Law No. 7 of 2005, all persons carrying on permitted activities in or from the QFC require a licence. The information contained in the CRO form application will allow licensing to be dealt with as an adjunct to the authorisation process.

Personal Data

Any personal data provided in the application will be used by the QFC Regulatory Authority in accordance with the QFC’s Data Protection Regulations 2005. Applicants should also consider the application of, and ensure compliance with, the QFC’s Data Protection Regulations 2005 in respect of

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https://www.qfcra.com/guides/

personal data contained in any copies of this (“Q02”) application or supporting (“Q03”) controlled function applications that it retains.

How will information provided in the application be used?

Information provided in the application may be shared with the QFC Authority and the QFC CRO, as the QFC Regulatory Authority deems necessary, in furtherance of its objectives under the QFC Law, Schedule 4, paragraph 17.

* In order to apply for authorisation, an applicant must be a Body Corporate or Partnership that intends to carry on Regulated Activities in or from the QFC. Authorised firms can be formed inside the QFC by incorporating either under the Companies Regulations or the Limited Liability Partnership Regulations, or outside the QFC using a branch office in the QFC that is registered with the QFC Companies Registration Office.

Table of Contents Page

1. Core details 5

1.1. General information 5

1.2. Group structure and controllers 5

1.3. History of applicant 6

1.4. Establishing a QFC subsidiary or branch 7

1.5. Other activities 7

1.6. Regulated activities 7a. Banking business or Collective investment schemes

b. Direct insurer / Reinsurer, risk management and other requirements

8

10

c. Professional indemnity insurance 10

d. Client money, collateral and mandates 11

e. Custody services 11

f. Capital adequacy and Net liquid assets requirement 12

2. Systems and controls 14

2.1. Corporate governance framework 14

2.2. Risk management 14

2.3. Operational processes 15

2.4. Controlled functions and staffing 15

2.5. Compliance management 16

2.6. Monitoring and audit 17

2.7. Data protection 17

2.8. Anti-money laundering and financial crime 17

2.9. Technical resources 18

2.10. Outsourcing 19

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2.11. Business continuity 20

2.12. Customer and investor protection 20

3. Declaration and consent 22

4. Appendix A: Islamic banking business firm 23

5. Appendix B: Banking business firm 25

6. Appendix C: Collective investment schemes 26

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1. Core details1.1. General information

(1) Place and date of incorporation/formation.

(2) Company registration/incorporation number.

(3) Registered office address.

(4) Head office address (if different).

(5) Other trading name(s) used during last 10 years (if applicable).

(6) Contact details (telephone and email).

(7) Proposed business address in Qatar, if known*. *Applicant’s business address in Qatar is required to be in QFC designated premises.

(8) If a professional advisor has been used to assist with the completion of this application and the applicant wants the QFC Regulatory Authority to copy correspondence to the professional adviser, please check the box and provide a name and contact details below.

(9) Regulatory business plan: please attach a copy of the applicant’s Regulatory business plan.

1.2. Group structure and controllers

Group Yes N/A

(1) Is the applicant a member of a group? If yes, please attach a group structure chart showing all entities, highlighting their primary business and whether regulated or not and by whom.

(3) Is the applicant or its group subject to consolidated supervision? If so, by whom?

Parent Yes N/A

(4) Please provide details of the applicant’s parent entity, including: name, percentage holding, contact details, address, country of incorporation, registered number and legal status (LLC or LLP).

(5) Please provide the latest audited financial statements of the applicant’s parent entity and all corporate controllers.

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(6) Please provide details of all individuals who are members of the governing body of the parent entity and detail any significant business interests they have.

(7) Is the applicant’s parent entity listed on a recognised or approved stock exchange? If yes, please provide details.

(8) Please provide details of the applicant’s home state regulator and the overseas regulator of the parent entity, including: name, address and details of the main contact there.

Applicant Yes N/A

(9) Please provide details of the following:

(a) all corporate controllers*; including: name, percentage holding, address, country of incorporation, registered number, principal activities, overseas regulator if applicable and audited financial accounts.

(b) all individual controllers*; including: name, address, place of birth, date of birth, and percentage holding and submit certified copies of all the relevant pages of all individual controllers’ passports.

(c) a controllers’* diagram with sufficient information to identify each controller, the type of such control and who has ultimate control.

* Controller is defined in the QFC Regulatory Authority’s General Rules 2005 (“GENE”) Chapter 8, Part 8.1.

1.3. History of applicant Yes No

If the answer to any of the following statements is ‘Yes’, please provide a full explanation of the circumstances and the outcome as a separate attachment:

(a) is the applicant, or any of its officers, or any related entity or any of its officers, currently or have they ever been the subject of any government, regulatory, civil or criminal investigation, or been involved in disciplinary proceedings?

(b) is the applicant, or any of its officers, or any related entity or any of its officers, currently or have they ever been the subject of any penalty, sanctions, regulatory fine or disciplinary orders by any government department or agency?

(c) has the applicant, or any related entity in any country or jurisdiction, ever been wound up, put into liquidation, ceased trading, placed in receivership or administration or negotiated a settlement with its creditors?

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(d) does the applicant, or any related entity, have any overdue and unsettled debts (i.e. due but unpaid), awards or judgements against it?

(e) has the applicant, or any related entity, ever had a licence revoked, or been refused a licence, by any regulator?

(f) are there any other matters (anticipated, pending, ongoing or otherwise) of which the applicant should reasonably be expected to make the QFC Regulatory Authority aware in its consideration of this application?

1.4. Establishing a QFC subsidiary or branch Yes N/A

(1) Please confirm the home country regulator is aware the applicant intends to establish a subsidiary or branch in the QFC.If you have answered yes, please attach a copy of the “no objection” letter

(3) If the applicant is seeking to establish a branch, please confirm that the activities and specified products proposed to be undertaken through the QFC branch are consistent with and do not exceed those undertaken currently by the applicant in its home jurisdiction.

(5) Does the applicant intend to transfer any planned or existing business into the proposed subsidiary or branch once it is authorised?If you have answered yes, please provide details of the volume and type of business and confirm that it will fit within the proposed scope of authorisation and specified products.

(7) Does the applicant intend to carry on any business activities that are yet to be authorised or permitted, by an overseas regulator?If yes, please provide details of the activity, the scale of the activity, the country or territory where it will be conducted and the overseas regulator(s) involved and the status of the application.

1.5. Other activities Yes N/A

(9) Does the applicant carry on, or intend to carry on, any non-regulated activities in or from the QFC?If yes, please provide details of what non-regulated activities the applicant currently conducts, or intends to conduct and contact the QFC Regulatory Authority to discuss your application.

1.6. Regulated activities table

This section requires the applicant to complete the matrix below, indicating the proposed regulated activities and associated specified products which the applicant is seeking to undertake.Depending on the proposed business and thus the regulated activities to be undertaken, an applicant may find the activities selected in the matrix below extend over more than one heading, for example, an applicant proposing to undertake: Islamic Banking activities may extend over A, B, E, F and G and thus be subject to elements of the

IBANK and INMA rulebooks; Conventional Banking activities may extend over C, D, E, F and G and thus be subject to elements

of the BANK and INMA rulebooks; Arranging, advising, managing and mediation business could extend over E, F, G and I and thus be

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subject to elements of the INMA and IMEB rulebooks; and Insurance business applicants should complete H (i or ii) depending on the business proposed, and

possibly section I and thus be subject to elements of the Insurance Business Rules 2006 (“PINS”) and Insurance Mediation Business Rules 2011 (“IMEB”) rulebooks.

A. ISLAMIC BANKING BUSINESS Islamic financial contracts Clients

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Islamic banking business

Providing financing facilitiesB. ISLAMIC INVESTMENT BUSINESS

Dealing in investments (as principal)

C. CONVENTIONAL BANKING BUSINESS Specified products Clients

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Deposit-taking

Providing credit facilities

D. INVESTMENT DEALER

Dealing in investments (as principal)

E. INVESTMENT BUSINESS

Dealing in investments (as agent)

Managing investments

Providing custody services

F. ADVISORY

Arranging deals in investments

Arranging the provision of custody services

Arranging credit facilities

Advising on investments

G. COLLECTIVE INVESTMENT SCHEMES

Specified activities Retail scheme Qualified investor scheme

Private placement scheme

Non QFC scheme

Operator

Operating a collective investment scheme

Dealing in investments (as agent)

Managing investments


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Independent entity


Administrator

Providing scheme administration

H. INSURANCE BUSINESS Type Clients

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i. General insurance

Effecting a contract of general insurance

Carrying out a contract of general insurancePL E A S E S E L E C T T H E AP P L I C AB L E G E N E RA L I N S UR A NC E CA T E G O RI E S A S D E F I N E D IN F S R S CH E D UL E 3 P AR T 3

1 2 3 18 4 5 6 7 8 9 16 17 1 0 1 1 1 2 13 14 1 5

P I N S C a t 1 P I N S C a t 2 P I N S C a t 3 P I N S C a t 4

ii. Long term insurance

Effecting a contract of long term insurance

Carrying out a contract of long term insurancePL E A S E S E L E C T T H E AP P L I C AB L E L ON G T E RM I N S UR AN C E CA T E G O RI E S A S D E F I N E D IN F S R S CH E D UL E 3 P AR T 3

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I. INSURANCE MEDIATION BUSINESS Type Clients

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Giving advice to other persons about the merits of entering into contracts of insurance, whether as principal or agentActing as agent for other persons in relation to the buying or selling of contracts of insurance for themMaking arrangements with a view to other persons buying contracts of insurance, whether as principal or agentAssisting in the administration or performance of contracts of insurance for or on behalf of policyholders

Note: If an applicant selects activities under E. Investment business firms and F. Insurance mediation business above, as applicable to its proposed business plan, the QFC Regulatory Authority will discuss with the applicant, an appropriate risk-based prudential capital requirement.

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1.6.a. Regulated activities table, certain selections require more information Yes N/A

(1) If activities in Section A. Islamic banking business have been selected, please complete and attach Appendix A with this application..

(2) If activities in Section B. Islamic investment business have been selected, please complete and attach Appendix A with this application.

(3) If activities in Section C. Conventional banking business have been selected, please complete and attach Appendix B with this application.

(4) If activities in Section D. Investment dealer have been selected, please complete and attach Appendix B with this application. .

(5) If activities in Section G. Collective investment funds have been selected, please complete and attach Appendix C with this application.

1.6.b. Direct insurer / Reinsurer Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that:

(a) it will be able to comply with the additional risk management strategy requirements in PINS Part 2.2;

(b) its risk management policy meets the requirements of PINS Part 2.3 in accordance with the guidance provided in PINS Schedule 1;

(c) it has the capability of producing its financial condition reports as required in PINS Part 9.1;

(d) it will be able to comply with the additional requirements of an insurer in PINS Chapter 10;

(e) it has the ability to meet the additional requirements for long term insurance business as required in PINS Chapter 5.

1.6.c. Professional indemnity insurance Yes N/AIf in section 1.6, Regulated activities table, an applicant has selected Investment business activities (1.6.E or F) or Insurance mediation business (1.6. I) please complete this section.Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the professional indemnity insurance (“PII”) requirements as detailed in Investment Management and Advisory Rules 2014 (“INMA”)) Part 4.3 or IMEB Part 2.3 (as applicable) and provide the following:

(a) details of any PII insurance currently held by the applicant (or its parent or group) including start/expiry dates, insured persons and entities, sums insured, specific events or activities covered, whether the insurance will cover activities carried out in or from the QFC, specific exclusions, amount of any excess, and the maximum claim payable;

(b) if any part of the cover described in response to (a) is under a group policy (i.e. a policy written for a firm which is in the same group as the applicant), the name of the firm writing the policy, details of other regulated firms that are covered under the policy and the regulatory regime under which each firm is regulated;

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(c) if the applicant does not have existing PII, details of the amount of cover proposed and how it was determined;

(d) details of the date, type and amount of any claim(s) relating to the applicant (or parent or group as applicable) under PII policies in the 3 years before this application was made; and,

(e) confirmation that the applicant’s professional indemnity insurance provider meets the suitability requirements of professional indemnity insurers under INMA Part 4.3 or IMEB Part 2.3 (as applicable).

1.6.d. Client money, collateral and mandates Yes N/AWith reference to the proposed regulated activities selected in 1.6 please indicate below, as applicable, if you are proposing to undertake any of these activities on behalf of the customer:

(a) exercise of discretion over customer assets;

(b) does the applicant intend to hold client mandates (INMA 8.1.1 and/or IMEB 7.1.2 as applicable)?

(c) if ‘Yes’, please provide a copy of the policy and procedures aimed at compliance with the relevant requirements.

(e) does the applicant intend to receive or hold collateral for the purpose of securing the obligations of its client(s) (INMA 7 and/or IMEB 6 as applicable)?

(f) if ‘Yes’, please provide a copy of the policy and procedures aimed at compliance with the relevant requirements.

(f) does the applicant intend to hold client money (INMA 5 and/or IMEB 3 as applicable)?

(g) if ‘Yes’, please provide a copy of the policy and procedures aimed at compliance with the relevant requirements.

Note: if you propose to undertake any of the above in respect of a collective investment scheme, please see Appendix C

1.6.e. Custody services Yes N/A

(1) Does the applicant intend to provide custody services? If ‘Yes’, please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant requirements as detailed in INMA 6 and provide the following:

(a) detailed procedures confirming its ability to comply with the systems and controls requirements relating to providing custody including the use of custody investments; client notifications; client reporting; reconciliation; record keeping; and auditor’s report (required in GENE 9.5.3); and

(b) details of who will hold or control the custody investments, as defined in INMA 6.1.5, (including details of the name in which the custody investments will be held) and details of whether the applicant will stock lend.

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(3) Does the applicant intend to arrange the provision of custody services? If ‘Yes’, please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant requirements as detailed in INMA 6 and provide the following:(a) a copy of the assessment of suitability the applicant has carried out on the

eligible custodian in accordance with INMA 6.1.13; and(b) a copy of the written acknowledgement, as required by INMA 6.1.14, from the

eligible custodian. Note: If the custodian is part of the group, the assessment and acknowledgement are still required.

1.6.f. Capital adequacy, Liquidity and Net liquid assets requirement Yes N/A

Please answer the section below that relates to the applicants proposed business

Islamic banking business firm - go to Appendix A

1 The applicant is required to confirm the initial base capital:

Banking business firm - go to Appendix B

2 The applicant is required to confirm the initial base capital:

Insurance business firm (QFC insurer; PINS, Division 1.2.C, )

3 The applicant is required to confirm that it has read, understood, and is satisfied that it will be able to comply with the minimum capital requirements set out in PINS, Chapter 3 and must:(a) confirm the proposed initial base capital of the applicant;

(b) provide a copy of the applicant’s own risk and solvency assessment (“ORSA”) in compliance with PINS Part 2.4. (the ORSA should support and reconcile with the applicant’s regulatory business plan).

Investment business firm (Applicable activities; INMA 1.1.4,)

4 The applicant is required to confirm that it has read, understood, and is satisfied that it will be able to comply with the relevant INMA requirements, in particular, the general prudential, financial resources and minimum capital and net liquid assets requirements set out in INMA, Chapter 3 and provide a copy of the documented systems and controls required by INMA 3.1.2; and must: (a) confirm the proposed initial base capital of the applicant;

(d) confirm the proposed initial net liquid assets amount; Note: also please complete 1.6.b Professional indemnity insurance.

Insurance mediation business (Applicable activities; IMEB 1.2.2,)

5 The applicant is required to confirm that it has read, understood, and is satisfied that it will be able to comply with the relevant IMEB requirements, in particular, the general prudential, financial resources and minimum capital and net asset requirements set out IMEB Chapter 2 and provide a copy of the documented systems and controls required by IMEB 2.1.3; and must:(a) confirm the proposed initial base capital of the applicant;

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(b) confirm the proposed initial net asset amount; Note: also please complete 1.6.b Professional indemnity insurance.

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2. Systems and Controls2.1.Corporate governance framework Yes N/A

(1) Please confirm that the applicant has read, understood and is satisfied that it will be able to comply with the requirements in the Regulatory Authority’s Governance and Controlled Functions Rules (“CTRL”) as amended from time to time.

(2) Please provide:

(a) the names and experience of all individuals who are or will be the members of the applicant’s governing body including any significant business interests they have;

(b) details of the governing body and its committees that are in place or that will be established and describe how these will oversee the applicant’s activities;

(c) the applicant's charter or terms of reference for its governing body and its committees including details of the membership of each committee and the individual member's experience;

(d) the applicant’s governance chart, outlining the reporting lines for its governing body, its committees, the executive committee and senior management;

(e) details of the allocation of responsibilities between the applicant’s governing body and its senior management;

(f) details of the framework for ensuring that obligations relating to conflicts of interest under CTRL are met;

(g) details of the mechanisms for ensuring that responsibilities within the applicant are clearly recorded and understood by the senior management;

(h) details of the proposed regular reports that are to be provided to the applicant’s governing body and its committees by senior management, highlighting details of the business segments and risk areas that will be covered; and

(i) details of how duties are, or will be, segregated between functions of a risk-taking and risk management nature.

2.2.Risk management Yes N/A

Please provide the following:

(a) a documented risk management framework, specific to the activities proposed, comprising a risk appetite, strategy, policy, procedure and processes appropriate to the nature scale and complexity of the applicant’s

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proposed business together with details of the proposed risk monitoring and reporting that the applicant will undertake once authorised;

(b) details of the resources and staffing levels, if applicable, supporting the risk management function, their responsibilities, and reporting lines.

2.3.Operational processes Yes N/A


(a) a set of operational flow charts or transaction flows which clearly set out each step of the processes proposed to underpin the business once authorised. The charts or diagrams should be cross-referenced to the relevant supporting procedures;

(b) an operational procedure manual

2.4.Controlled functions and staffing Before individuals can undertake controlled functions for an authorised firm, they must submit an application to the QFC Regulatory Authority. The CTRL Rules set out those controlled functions.Before completing this section, all applicants should read both CTRL and the Individuals (Assessment, Training and Competency) Rules 2014 (“INDI”), which set out training and competence obligations and codify requirements established by the QFC Financial Services Regulations relating to the Principles of Conduct for Approved Individuals. Please complete and submit a separate Form Q03 for each individual proposing to exercise a controlled function and provide their names (as applicable) in the table below. Note: if the applicant has not yet identified these individuals, please provide a job

description, for each proposed controlled function, which clearly sets out what is required of each role.

(I) Controlled functionReside

ntQ03 Form attached

Yes No

Yes N/A

(a) Senior executive function.

(b) Compliance oversight function.

(c) MLRO function.

(d) Finance function.

(e) Executive governance function.

(f) Non-executive governance function.

(g) Risk management function.

(h) Senior management function.

(i) Internal audit function.

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(j) Actuarial function. (II) Other Information

YesN/A


(a) in addition to the information provided under question 2.1(2)(d), please provide a detailed organisation chart showing the proposed reporting lines, staffing levels, responsibilities and experience;

(b) details of the background checks carried out on individuals proposed to perform controlled functions including the process to ensure consistency;

(c) details of how the skills, knowledge and experience of individuals proposed to carry out controlled functions are assessed and how continuing competence is assessed;

(d) a description of the involvement of the compliance oversight function (“COF”) in the assessment of the fitness and propriety of potential controlled functions, if the COF is not involved, explain how compliance with the QFC Regulatory Authority’s requirements will be achieved;

(f) a description of how the applicant’s individuals exercising controlled functions will be made aware of their obligations;

(g) a copy of the applicant’s training and competence manual;

(h) details of how staffing requirements are assessed and monitored continuingly; and

(i) a copy of the applicant’s remuneration policy.

2.5. Compliance management Yes N/A


(a) an operational compliance management policy, procedure and processes appropriate to the nature scale and complexity of the applicant’s proposed business.

(b) a copy of the gap analysis undertaken by the applicant between the QFC Regulatory Authority’s obligations and rules, relevant to the applicant’s business, to ensure compliance requirements are addressed by the applicant’s compliance policy; and

(c) details of how (and by whom) the compliance oversight function will be reviewed, and the scope and frequency of that review.

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2.6. Monitoring and audit Yes N/A

(1) The applicant’s auditor (other than for a branch applicant) is required to be a Qatar Financial Centre Authority (“QFCA”) approved auditor.Please provide the following information:

External audit

(a) the details of the applicant’s audit firm, including name and contact information, date of its appointment, and name of the partner responsible;

(b) where the audit firm is not the same firm that audits the applicant’s group, provide details of how the engagement will be managed;

(c) a copy, or draft, of the auditor’s letter of engagement, audit scope;

(d) if the applicant is seeking to establish a branch, confirmation that the branch will be included in the audit scope of the overall entity; and

(e) details of the previous auditor, duration of appointment and reasons for the ending of the appointment(s) if the applicant has changed auditors during the last 5 years.

Internal audit (f) details of the applicant’s proposed internal audit function, including its

mandate, structure, scope, staffing, reporting lines, the regularity of reporting and if the function is to be outsourced;

(g) the proposed internal audit schedule, for the next twelve months, for the applicant’s business; and

(h) details of internal audit’s approach and how findings will be rated with respect to the applicant, monitored and followed up to ensure closure.

2.7. Data protection Yes

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the QFC’s Data Protection Regulations 2005, as amended from time to time.

2.8. Anti-money laundering and financial crime Yes N/A


(a) a detailed organisation chart showing the Money Laundering Reporting Officer (“MLRO”) function (and identifying the Deputy MLRO function) together with reporting lines, staffing levels, experience and responsibilities of the anti-money laundering staff;

(b) a copy of the gap analysis, performed by the applicant, between its anti-money laundering processes, the State of Qatar regulations and the QFC Regulatory Authority’s rules;

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(c) a copy of the applicant’s anti-money laundering policies and procedures, including the monitoring for and detection of, suspicious transactions;

(d) where such suspicious transactions monitoring procedures will be automated, details of the IT resources and program that will be devoted to the procedures and explain how the system’s effectiveness will be tested;

(e) details of the applicant’s arrangements for ensuring that it obtains and makes proper use of findings issued by the: Government of Qatar or any government departments in Qatar; Central Bank of Qatar or the National Committee for Combating Money

Laundering or the Financial Intelligence Unit; Financial Action Task Force (“FATF”); QFCA; QFC Regulatory Authority; and Gulf Co-operation Council.

(f) the procedures for obtaining and keeping sufficient evidence of the identity of clients;

(g) the procedures for monitoring the applicant’s dealing or customer-facing function(s) to prevent market abuse;

(h) details of the individual who will conduct the independent review and audit of the anti-money laundering policies, procedures, systems and controls, the terms under which it will be conducted and with what frequency;

(i) details of what anti-money laundering training will be provided to staff and how employees will be made aware of procedures for the internal reporting of suspicious transactions;

(j) details of the proposed disciplinary procedure for staff who fail to report promptly to the MLRO any suspicious transactions;

(k) confirmation that the country in which the applicant’s head office or parent entity is located is a member of FATF or MENA FATF (if not, the applicant is required to assess that country to ensure that it complies with the recommendations of FATF and provide details of the assessment process carried out, including an explanation of how the applicant has compensated for any deficiencies in that country’s compliance with FATF recommendations); and

(l) details of the IT security that is, or will be, in place to combat cyber fraud.

2.9. Technical resources Yes N/A


(a) details of the information technology systems that the applicant has, or proposes to have in place and how the systems will support its activities;

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(b) description or a schematic outline of how the applicant’s systems will support the transaction flows detailed in its regulatory business plan;

(c) where the applicant’s systems interface with head office or another group or parent entity, a description of how such access will be defined;

(d) a copy of the applicant’s information security policy, including details of the individuals responsible for security and their reporting lines; and

(e) details of the applicant’s policy for the retention, storage, back-up and format of records, including details of where its records will be kept, in accordance with the QFC Regulatory Authority’s record keeping requirements.

2.10.Outsourcing Yes N/A

Where the applicant plans to avail itself of outsourced services, please provide the following:

(a) a copy of the applicant’s outsourcing policy and procedure;

(b) where any aspect of the applicant’s business processes, including internal audit, will be subject to outsourcing, either to an external third party entity, or to a parent or other group entity, details of the service provider including name, contact details, business process to be outsourced, and details of the person responsible for control and supervision of the outsourcing arrangement;

(c) a copy of the recommendation to management (including due diligence undertaken) to support a decision to outsource the particular business processes;

(d) details of the contingency plans that are, or will be, in place to cover instances when service providers are unable or unwilling to provide the outsourced processes; and

(e) a copy of each outsourcing agreement, or draft agreement, including any relating to investment management, fund administration or custody. It is expected that the provision of services by group entities would also be documented. The documentation should confirm QFC Regulatory Authority access.

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2.11.Business continuity Yes

Please provide copies of the following:

(a) business continuity and disaster recovery policy and procedures;

(b) business continuity plan (“BCP”) and disaster recovery plan (“DRP”) identifying individuals responsible, outlining their responsibilities, where backups will be held and the proposed offsite location; and

(c) the most recent BCP and DRP test results provided to the governing body or the proposed testing plan to be undertaken within six months of authorisation.

2.12.Customer and Investor Protection (“CIPR”)Note: all applicants must complete Customer and Investor Protection sections 1.1-2.7 the remaining sections 2.8-2.10 should be completed as applicable to the proposed regulated activities set out in the applicant’s regulatory business plan.1. Basic concepts1.1 Customer, retail or business customer and eligible counterparty Yes

Please confirm that the applicant has read, understood, and is satisfied that it has appropriately reflected the relevant definition of customer, retail or business customer and eligible counterparty, as set out in CIPR Part 1.2, in its regulatory business plan.

2. Principles of fair treatment of customers2.1 Principles Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with The principles as set out in CIPR 2.1.2.

2.2 Customer classification Yes

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the client classification requirements in CIPR 3.3 and provide the following:

(a) a copy of the documentation used to undertake each stage (or potential stage) of the customer lifecycle (under the applicant’s proposed business) and, in support of this, a diagram which shows the steps in the process cross-referenced to the relevant documentation; and

(b) a copy of the documentation that sets out the systems and controls intended to be used to ensure that each assessment to classify a client into a client category is correctly undertaken.

2.3 Reliance on others and exclusion or restriction of liability Yes

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with CIPR Part 3.4 and attach a copy of the relevant procedures.

2.4 Conflicts, material interests and inducements Yes N/A

Please confirm that the applicant has read, understood and will be able to comply with the relevant requirements of CIPR Part 3.5 and provide the following:

(a) a copy of the procedures for compliance with the relevant requirements;

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(b) a copy of the applicant’s code of ethics and code of conduct;

(c) a copy of the systems and controls for personal account transactions as required by CIPR Part 3.6.

2.5 Handling errors and complaints Yes

Please confirm that the applicant has read, understood and will be able to comply with the requirements in CIPR Part 3.7; 3.8 and attach a copy of the relevant procedures.

2.6 General record-keeping obligation Yes

Please confirm that the applicant has read, understood and will be able to comply with the requirements in CIPR Chapter 8 and attach a copy of the relevant procedures.

2.7 Advertisements, personal contact with customers, initial disclosure doc Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant requirements (as applicable to the regulatory business plan) as detailed in CIPR 4 and, if applicable, Collective Investment Schemes Rules 2010 (“COLL”) COLL 10 and provide copies of appropriate policies, procedures and documentation.

2.8 Investment management and investment mediation business Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant requirements (as applicable to the regulatory business plan) as detailed in CIPR 5 and provide copies of appropriate policies, procedures and documentation.

2.9 Insurance business and insurance mediation business Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant requirements (applicable to the regulatory business plan) as detailed in CIPR Chapter 6 and provide copies of appropriate policies, procedures and documentation.

2.10 Deposit-taking business Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant (applicable to the regulatory business plan proposed) deposit-taking business requirements as detailed in CIPR Chapter 7 and provide copies of appropriate policies, procedures and documentation.

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3. Declaration and consent

The signature block in this section must be signed by two members of the governing body of the applicant (as described under CTRL as amended from time to time).

IMPORTANT

It is a contravention of Article 84 of the QFC Financial Services Regulations for any person to knowingly or recklessly provide information to the QFC Regulatory Authority that is false, misleading or deceptive or to conceal information from the QFC Regulatory Authority where such concealment is likely to mislead or deceive the QFC Regulatory Authority.

Applicants must ensure the accuracy and completeness of the information given to the QFC Regulatory Authority.

I declare that:

1. I have the authority to make this application for the applicant;

2. all the information given in this application (and any attachments) is, to the best of my knowledge and belief and after having made all reasonable inquiries, true and complete; and

3. if, at any time after making this declaration, I become aware of a material change in any information given in this application or any attachment that is reasonably likely to be relevant to the QFC Regulatory Authority’s assessment of this application, I will inform the QFC Regulatory Authority in writing about the change and its impact without delay.

I acknowledge that it may be necessary for the QFC Regulatory Authority to obtain information from other regulators, law enforcement agencies or other persons (whether in Qatar or elsewhere) to properly consider and decide this application. Accordingly, in submitting this application, I consent to the QFC Regulatory Authority obtaining any information from third parties that the QFC Regulatory Authority deems necessary for the purpose of considering and deciding this application.

Name and position of signatory 1

Signature and date

Name and position of signatory 2

Signature and date

Please provide a copy of the applicant’s board minutes or shareholder agreement confirming:1. the organisational decision to establish the applicant or;2. similar evidence authorising each of the governing body members to make this

application. attached

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4. Islamic banking business firm Appendix AIslamic banking business firm (see IBANK 1.1.9)

A.1. Banking principles Yes

P Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the principles relating to Islamic banking set out in IBANK, Part 1.2.

A.2. Capital Yes

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the Capital Adequacy requirements set out in IBANK Chapter 3 and:

provide a copy of the applicant’s internal capital adequacy assessment process or ICAAP in compliance with IBANK Part 3.1.5.

Note: the ICAAP should support and reconcile with the regulatory business plan.

A.3. Liquidity Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the Liquidity Risk requirements set out in IBANK, Chapter 8 and provide:

a copy of the applicant’s funding strategy in compliance with IBANK 8.1.10.

Note: the funding strategy should support and reconcile with the applicant’s regulatory business plan.

A.4. Risk Management Yes

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the applicable IBANK requirements for managing the risks referenced below and provide copies of relevant policies and procedures for the applicant’s proposed business:

IBANK Chapter Attached N/A

a) credit risk;b) concentration risk and related matters;c) market risk;d) operational risk;e) group risk;f) treatment of Sukuk; andg) treatment of PSIAs and associated risks

Chapter 4 Chapter 5Chapter 6Chapter 7Chapter 9Chapter 10Chapter 11

A.5. Compliance with Shari’a Yes N/A

(1) Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with IBANK 12 Compliance with Shari’a.(a) please attach details of the proposed Shari’a supervisory board and confirm

that the assessments required by IBANK 12.1.2; 12.1.3; and 12:1:4 have been undertaken.

(b) please attach copies of the records required by IBANK 12.1.5.

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(c) please attach a policy and procedure manual in compliance with IBANK 12.1.8.

(d) please attach a policy document in compliance with IBANK 12.1.9.

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5. Banking business firm Appendix BBanking business frim (see BANK 1.3.1).B.1. Banking principles Yes

P Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the principles set out in BANK, Part 1.2.

B.2. Capital Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the Capital Adequacy requirements set out in BANK Chapter 3 and provide:

(a) a copy of its internal capital adequacy assessment process or ICAAP.

Note: the ICAAP should support and reconcile with the applicant’s regulatory business plan.

B.3. Liquidity Yes N/A

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the Liquidity Risk requirements set out in BANK, Chapter 9 and provide:

(b) a copy of its funding strategy in compliance with Part 9.1.7.

Note: the funding strategy should support and reconcile with the applicant’s regulatory business plan.

B.4. Risk Management Yes

Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the applicable BANK requirements for managing the risks referenced below and provide copies of relevant policies and procedures for the applicant’s proposed business:

BANK Chapter Attached N/A

h) credit risk management and assessment;concentration risk and related matters;market risk;

k) operational risk;interest rate risk in the banking book;

m) liquidity risk; andn) group risk

Chapter 4 Chapter 5Chapter 6Chapter 7Chapter 8Chapter 9Chapter 10

o) Collateral and customer mandates for investment dealers Chapter 12

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6. Collective investment schemes Appendix C

Applicants that will be acting in the capacity of an operator of a scheme should answer all questions in section E.2.;

Applicants that will be acting in the capacity of an independent entity of a scheme and/or will be, otherwise, responsible for the safekeeping of all of the scheme property, i.e. providing custody services (other than by way of delegation), should answer all questions in section E.3.; and

Applicants that will be providing scheme administration on behalf of an operator should answer all questions in section E.4.

C.1. Scheme regulatory requirements Yes N/A

Please confirm that the applicant has reviewed the requirements of COLL and the Private Placement Schemes Rules 2010 (“PRIV”) as applicable to the proposed business, before completing the relevant section(s) below.

C.2. Applicants acting as operator

(1) Please tick the boxes below to indicate the type of fund you propose to establish and/or operate in the QFC and provide a description.

Securities fund Hedge fundMoney market fund Islamic fundFutures and options fund Fund of fundsGeared futures and options fund Feeder fund Warrant fund Umbrella fundVenture capital fund Listed fund Property fund Single property fundPrivate equity fund

8.42 Please indicate whether you will be establishing:Registered qualified investor funds;Private placement funds

(2) Please provide the following: Yes N/A

(a) one from below:

(i) completed Form Q18A (application for registration of a collective investment scheme under COLL); or

(ii) completed Form Q18B (application for registration of a collective investment scheme under PRIV); or

(iii) if not provided, details of when it will be submitted;

(b) details of applicant’s appointed investment advisor (if any);

(c) details of any scheme administrator(s) that will be used in connection with the collective investment scheme;

(d) details of the independent entity (not applicable under PRIV) that will be used in connection with the collective investment scheme, along with a copy of the

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assessment carried out by the applicant on the suitability of the independent entity;

(e) copies of the operator’s procedures, systems and controls to ensure that, in respect of the collective investment scheme, the provisions and requirements of COLL / PRIV will be complied with;

(f) copies of the systems, controls and procedures the operator will have in place to ensure that decisions about investments and borrowings by the scheme are made in accordance with the scheme’s investment objectives;

(g) details of where the register of unit holders will be maintained and a description of how the operator will make the unit holder register, or a copy of the register, available for inspection in the QFC as required by COLL 7.2.1(4); and

(h) details of the international standards to which the operator will adhere in relation to the collective investment scheme.

C.3. Applicants acting as independent entity

(1) Please provide a description of the types of fund for which you propose to act as the independent entity in the QFC.

Yes N/A

(2) Please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant requirements relating to the oversight functions and the safekeeping of assets as detailed in COLL Part 4.2 and provide the following:

(a) a copy of the procedures for compliance with these requirements; and

(b) if known, details in relation to the scheme(s) that the applicant will be acting as the independent entity including full name/proposed full name of the scheme(s) and name of the operator, or proposed operator, of the scheme(s).

C.4. Custody Yes N/A

(1) Does the applicant intend to provide custody services?

(2) If ‘Yes’, please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant custody services requirements as detailed in INMA 6 and provide the following:

(a) detailed procedures confirming its ability to comply with the systems and controls requirements relating to providing custody, including: the use of custody investments; client notifications; client reporting; reconciliation; record keeping; and auditor’s report (required in GENE 9.5.3); and

(b) details of who will hold or control the custody investments, as defined in INMA 6.1.5, (including details of the name in which the custody investments will be held) and details of whether the applicant will stock lend.

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(3) Does the applicant intend to arrange custody services? If ‘Yes’, please confirm that the applicant has read, understood, and is satisfied that it will be able to comply with the relevant custody services requirements as detailed in INMA 6.

(5) If holding investments with, or arranging the provision of custody services through, an eligible custodian, please provide details of the assessment of suitability it has carried out on the eligible custodian, including a copy of a written acknowledgement, as required by INMA 6.1.14, from the eligible custodian.Note: If the custodian is part of the group, the acknowledgement is still required.

C.5. Applicants providing scheme administration

(1) Please provide a description of the types of scheme for which you propose to provide scheme administration services.

(2) Please provide the following: Yes N/A

(a) details of the scheme(s) for which the applicant will be providing scheme administration services, including full name/proposed full name of the scheme(s) and name of the operator, or proposed operator, of the scheme(s);

(b) a description, in detail, of the basis on which charges for providing scheme administration services will be calculated and received.

C.6. Hedge FundsNote: Where the collective investment scheme will be a hedge fund under PRIV, the following questions must be answered.

Please provide the following: Yes N/A

(a) a description of how the operator will manage the risk inherent in the operation of the hedge fund, with due regard to the nature of the strategies and investment process;

(b) a description of the role, if applicable, of the scheme administrator, independent entity and/or prime broker;

(c) where the operator proposes to undertake asset pricing and scheme valuation itself in respect of the hedge fund, a description of how the operator will demonstrate that the asset pricing and scheme valuation are functionally separate and independent of the investment management process.

(d) copies of operational procedures covering such matters as subscriptions, redemptions and valuation

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