any instrument – in any legal form - that evidences ownership of a share in a financial transaction and that is negotiable pursuant to a license from the Authority, such as: a. shares issued or proposed to be issued in the capital of a company; b. any instrument that creates or acknowledges a debt issued or to be issued by a company; c. loans, Bonds, Sukuks and other instruments that can be converted shares in a the capital of a company; d. all public Debt Instruments that are tradable and issued by the various government entities or public institutions or authorities; e. any right, option or derivatives relating to Securities; f. Units in a Collective Investment Scheme; g. any paper or instrument considered by the Authority as a Security for the purposes of implementing this Law and the Bylaws. Not to be considered as Securities are commercial papers such as cheques, promissory notes, bills of lading, letters of credit, cash transfers and instruments negotiated by banks exclusively between each other, insurance policies and rights arising from retirement funds established for the benefit of the beneficiaries therefrom.