Article 1 Definitions

In this Law, unless the context otherwise requires:

"Court" means the High Criminal Court

"criminal activity" means any activity which is a crime whether in the State of Bahrain or in any other State

"Enforcement Unit" means the Unit empowered to implement the provisions of this Law as defined in paragraph 4 of Article 4

"institution" means any natural person, body corporate or other entity constituted or recognised under the laws of Bahrain whose occupation or business includes the carrying out of any of the activities listed in the Schedule to this Law

"relevant entities" means Ministries and Government entities which licence, supervise and regulate institutions

"proceeds of crime" means property which is derived directly or indirectly, in whole or in part, from any criminal activity

"property" means property of every kind, nature and description, whether movable or immovable, tangible or intangible and shall, for instance, include:

(a) any currency, national or foreign, bills, securities, bonds, negotiable instruments or any instrument capable of being negotiable including those payable to bearer or endorsed payable to bearer;
(b) cash or currency deposits or accounts with any bank, credit or other financial institutions;
(c) works of art, jewellery, precious metals and other items of value;
(d) land, property and any rights attached thereto; and
(e) any thing or object, used in money laundering

"transaction" means any disposition of property including but not limited to purchase, sale, loan, pledge, gift, transfer, delivery, deposit, withdrawal, transfer between accounts, exchange of currency, loan, extension of credit, purchase or sale of any stock, bond, certificate of deposit, or use of a safe deposit box ;

"transaction record" includes:

(a) the identification records of persons who are a party to that transaction;
(b) details of the transaction including institutions which conducted it
(c) details of any account used for the transaction