Quick Service Portal General Terms and Conditions
In consideration of Ithmaar Bank B.S.C (Closed) (the “Bank”) agreeing to provide Banking services through a quick service portal available on the Bank’s website www.ithmaarbank.com (the “Quick Service Portal”) to the Bank’s customers (the “Customer”), the Customer hereby agrees to the following terms and conditions, which sets out the rights and obligation of the Bank and the Customer in connection with the use of the Quick Service Portal (the “Terms and Conditions”)
These Terms and Conditions are an integral part of the Bank’s Banking Services Terms and Conditions, which is available on the Bank’s website www.ithmaarbank.com shall be the entire agreement between the Bank and the Customer in relation to the Quick Service Portal and shall, in the absence of a provision to the contrary herein, supersede all prior arrangement, whether written or oral, with respect thereto.
The Customer agrees that these Terms and Conditions were read, understood and accepted, without limitation or qualification, to be legally bound by these Terms and Conditions, which shall come into effect upon the Customer’s acceptance of these Terms and Conditions.
1.DEFINITIONS
‘’Accounts” means individual, joint or corporate accounts for debit, credit cards, or investments of the Customer with the Bank.
‘’Business Day” means a day which the Bank is open for business in Bahrain.
‘’Customer” means Ithmaar Bank B.S.C. (Closed) customer.
“Financial Services” means services which include instructions given or changes advised which if accepted by the Bank, have or may have an impact on the operation and/or balance of the Customers’ Accounts, finance, credit cards and other.
“Non-Financial Service” means services which include making enquires, initiating requests to download statements, cheque book request and other activities not covered by Financial Services.
“Non-Financial Transactions” means Transactions undertaken by the Customer which relates to Non-Financial Services only.
“Services” means the services as described further in clause 2 below.
“Transactions” means Non-Financial Transactions
2.SERVICES
The Services will include the below Non-Financial services which are subject to change by the Bank from time to time:
1. Official account & card statement printing.
2. Document Printing.
3.ACCOUNTS
The Quick Service Portal will only be available to Customers who already maintain accounts with the Bank, whether (a) individual accounts (b) corporate accounts or (c) joint accounts.
4.SERVICES AVAILABILITY
The Quick Service Portal will be available twenty-four hours a day, seven days a week.
The Quick Service Portal may be unavailable from time to time for routine maintenance, or for any other reasons as necessitated by the Bank, or due to reasons beyond the Bank’s control.
Processing of certain types of transactions may only be available during business hours and working days, or as may be advised to the Customer at the sole discretion of the Bank.
5.INSTRUCTIONS AND INFORMATION
5.1 Once the Customer accesses the Quick Service Portal the Customer may access his/her information (“Information”) or give instructions (“Instructions”) to the Bank through the Quick Service Portal.
5.2 The Bank will rely on any Instructions, which the Bank believes to be genuine and to have been received from the Customer. The Bank has no duty to verify the facts or authenticity of any Instructions or Information received from the Customer or to investigate any discrepancies in respect of such Instructions or Information. The Customer accepts all risks of misunderstanding, incomplete or ambiguous Instructions, and errors, and the risks of Instructions being given or Information provided fraudulently and/or by any unauthorized parties. The Customer agrees that the Bank shall not be responsible for any loss howsoever arising including direct, indirect, incidental, punitive, special or consequential damages (including, but not limited to, loss of profit, lost data, loss of the use of the Services, business interruption, loss of business reputation or goodwill, costs of substitute services or downtime costs or any other costs, expenses or liability) (“Loss”) that may result from such negligence, fraud, misunderstandings, errors and/or unauthorized Instructions. The Customer agrees to hold harmless and indemnify the Bank, its officers, employees, agents and representatives against any actions, proceedings, claims, demands and Loss, which may be suffered, incurred or sustained by reason of the Bank following such Instructions or relying on such Information.
5.3 The Bank may, in its absolute discretion, and without incurring any liability refuse to implement any Instruction or transaction for any reason and will seek to notify the Customer promptly of its refusal, to the extent not restricted or prohibited by applicable rules, regulations or laws.
5.4 That any Transaction made or Instruction given through or in connection with the Quick Service Portal will be entirely at the Customer’s own risk
6.TRANSACTIONS
6.1 The Customer acknowledges that all Transactions using the Quick Service Portal will be subject to any daily, monthly or other periodic or one-off limits set by the Bank from time to time and agrees not to issue any Instructions to exceed such limits whether individually or in respect of multiple Transactions. The Customer will have no right to transfer funds, make any payments or request any other Transactions in excess of such limits.
6.2 The Bank does not guarantee any timeline for the processing of any Instructions it receives. However, care must be taken by the Customer when effecting bill payments to ensure that they are initiated at least five (5) business days in advance of the payment due dates, to allow sufficient time for processing and/or receipt of the payment by beneficiaries.
6.3 In respect of each Transaction, the Customer will be solely responsible for:
6.4 The Customer understands that Instructions received on any business day on which the Bank is open for business shall be processed by the Bank if received before the applicable cut-off time.
6.5 When the Customer uses the Quick Service Portal to initiate a future dated Transaction, the available balance in the designated debit Account (taking into account all other prospective Transactions) must be sufficient to cover the scheduled Transaction on its due date. Notwithstanding any other provision of the Terms and Conditions, where the required balance is not available on the due date, the Bank will have no obligation to process the Transaction. The Bank is under no obligation to notify the Customer if a Transaction cannot be processed due to insufficient funds in the Account.
6.6 Any Instruction to perform a future dated Transaction will remain valid and effective notwithstanding the Customer’s death or bankruptcy or other proceedings in respect of insolvency including without limitation administration, the appointment of a trustee, administrator, manager or receiver of any nature or any other revocation of this authority, until the Bank receives the notice of the Customer’s death, bankruptcy or other revocation.
7.FEES
8.SECURITY
8.1 The Customer shall:
8.2 The Customer will change the passwords frequently and will notify the Bank immediately in the event that the Customer knows or suspects:
8.3 The Bank assumes no responsibility for fraudulent or unauthorized use of the Customer’s Identification Information.
8.4 The Customer shall hold the Bank harmless and indemnify the Bank against any actions, proceedings, claims, demands and Loss which the Customer may incur or which otherwise may arise as a result of and during the course of the Customer’s holding in trust and use by the Customer, or his permitted assigns, successors in title, employees or any third parties to which the knowledge of such Identification Information shall become available by any means and due to any reason whatsoever.
8.5 The Bank is the owner of the Identification Information used by the Customer.
8.6 The Customer is a trustee of the Identification Information and shall follow the Instructions as given by the Bank to the Customer from time to time
9.CURRENCY CONVERSION
9.1 Unless the Bank agrees otherwise in writing, all funds that are to be converted into a foreign currency will be converted at the Bank’s relevant buying or selling rate (as applicable) at the time. For the avoidance of doubt, the Customer accepts that the currency value that will be considered on the day of the transfer execution by the Bank which may vary from the time of initiating the transfer by the Customer.
9.2 If the Bank converts funds into a foreign currency but is then unable to proceed with the relevant transfer, the Bank will refund the amount of the cancelled transfer and, in order to do so, may convert the funds into the original currency at the Bank’s relevant buying rate at the time and the Bank may deduct any costs, including but not limited to any currency exchange fees incurred by the Bank as a result of the transaction.
10.LIABILITY
10.1 The Customer understands and agrees that neither the Bank nor its affiliated or their employees directors officers or agents shall be liable for any Loss suffered or incurred by the Customer in respect of or in connection with the Quick Service Portal including but not limited to:
10.2 Without prejudice to clause 9.1 above, neither the Bank nor its affiliates or their employees, directors officers, or agents shall be liable for any Loss suffered or incurred by the Customer in the following cases:
11.VARIATION OF THE TERMS AND CONDITIONS
11.1 The Bank may, from time to time, and at its sole discretion, change or amend any of these Terms and Conditions, the Bank shall duly notify the Customer by any mean the Bank deems appropriate. Such changes shall apply on the effective date specified by the Bank in the notification sent to the Customer, and shall apply to all unpaid charges, expenses and fees.
11.2 The Bank may vary these Terms and Conditions at any time, subject to any requirements of the applicable laws in the Kingdom of Bahrain and notification of any such variation shall be deemed to have been issued to the Customer by publication of the amended terms on the Bank’s website www.ithmaarbank.com
11.3 Each of these Terms and Conditions shall be severable and distinct from one another and if at any time any one or more of such Terms and Conditions is or becomes invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions shall not in any way be affected thereby.
12.TERMINATION
The Bank may discontinue the provision of the Quick Service Portal in its entirety or discontinue a part of the Services at any time and without assigning cause, and the Bank shall duly notify the Customer by any mean the Bank deems appropriate.
13.SIGNATURE CONTROL SYSTEM
14.BANK RECORDS
The Bank’s records with respect to the Customer’s use of all Services shall be correct, final and binding in all respects including any matter related to complaints, disputes or legal actions between the Bank and the Customer.
The Bank shall retain Customer records for a minimum of 5 years.
Copies of the Bank’s records with respect to the Customer’s businesses may be requested from the Bank within 5 years and shall be retained by the Customer.
15.CONFIDENTIALITY
All information obtained from the Customer in relation to the Customer will be kept confidential by the Bank, unless otherwise agreed in writing to be disclosed by the Customer, or required to be disclosed by law, regulatory authority, court of competent jurisdiction, credit reference bureau (Benefit), or in relation to anti-money laundering laws and/ or any international agreements to which the Kingdom of Bahrain is a signatory of which such as the US Foreign Accounts Tax Compliance (FATCA).
16.General
16.1 The Customer agrees, accepts and acknowledges:
16.2 The Customer will not use the Quick Service Portal for any purpose that is not permitted by the Terms and Conditions or for any unlawful use.
16.3 The Customer will ensure in using the Quick Service Portal that it complies with all applicable rules, regulations, laws and Sharia principals and does not do anything that would or may cause the Bank to breach any rule, regulation or law.
16.4 The Bank:
17.SHARIA SUPERVISORY BOARD
All services, accounts, products, activities, transactions, and investments of the bank provided to the customer are reviewed and certified by its sharia supervisory board as adhering strictly to the rules and principals of sharia, which advices and rulings shall be binding in all respects.
18.ASSIGNMENT AND TRANSFER
The Bank may assign or transfer all or any of its rights and obligations under these Terms and Conditions without obtaining the consent of the Customer. These Terms and Conditions shall remain valid and effective in all respects in favour of any assignee, transferee or other successor in title whether by assignment, transfer, novation or otherwise in the same manner as if such assignee, transferee or other successor in title has been named as a party herein.
19.GOVERNING LAW
These Terms and Conditions shall be construed in accordance with the laws in the Kingdom of Bahrain, and the courts of the Kingdom of Bahrain shall have exclusive jurisdiction to hear any disputes concerning the interpretation or implementation of these Terms and Conditions.
20.LANGUAGE
These Terms and Conditions are made in both Arabic and English languages and in case of any discrepancy between the two versions, the Arabic version shall prevail.
