Article 1 Definitions
In applying the provisions of this law, the following words and expressions shall be given the meaning opposite each of them unless the context requires otherwise:
| Agency | The Bahrain Monetary Agency or any other legal entity or department to whom jurisdiction of the Bahrain Monetary Agency is transferred. |
| Settler | The natural or legal entity creating a Financial Trust in accordance with this law. |
| Beneficiary | A person having a personal right by virtue of the Trust Instrument. |
| Trustee | The person (or persons) to whom the ownership of the Trust Property is transferred in order to exercise the powers and functions specified in the Trust Instrument with a view to achieving the purpose of the trust or the interests of the beneficiaries. |
| Trust Protector | The person appointed to exercise the powers and functions provided for in Article (9) of this Law. |
| Trust Instrument | The written Agreement between the Setter and the Trustee by which the trust is created in accordance with this Law. |
| Trust Property | Includes any form of property, moveable or immoveable, tangible or intangible, transferred by the Settler to the ownership of the Trustee in order to exercise the powers and duties specified in the Trust Instrument with a view to achieving the purpose of the trust or the interests of the Beneficiary. |
| Licensee | A person licensed by the Agency to perform the functions of a Trustee pursuant to this law |
| Dispute Settlement Committee | The Committee provided for in Article (35) of this Law. |
| Person | A natural person or a legal entity |