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:
- Providing the Bank with the correct user/consumer/reference number and any subsequent changes;
and
- Settling any claim or dispute which beneficiaries or other third parties may have or initiate in
connection herewith.
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
- Details of any standard fees or specific fees applying to any transactions and Accounts shall be
specified in the fees schedule and as amended from time to time.
- The fees schedule may be found on the Bank’s website at www.ithmaarbank.com, or may be obtained at any of the
Bank’s branches upon the Customer’s request.
- The Bank reserves the right to introduce new fees or amend the fees schedule at any time, in
such case, the new fees shall apply as at the date of publication as indicated in the fees
schedule.
- If the Customer fails to pay such fees by the date that they are due, the Bank reserves the
right and the Customer hereby authorizes the Bank to deduct such fees from any Account that the
Customer holds with the Bank.
- The Bank’s financial services shall be exempt from the application of VAT, except where a
consideration is payable by way of an explicit fee, commission or commercial discount. The
Bank’s fees which are introduced by way of an explicit fee, commission or financial discount
shall be subject to VAT at a standard rate as applicable by law.
8.SECURITY
8.1 The Customer shall:
- keep any access identification codes, T-PIN, login ID, passwords and other login details
(“Identification Information”) confidential;
- ensure that Identification Information are known only to the relevant users and are not shared
with any third party;
- destroy any notification containing the Identification Information and not record the
Identification Information (in writing or otherwise);
- take all other precautions necessary to prevent unauthorized use of Identification Information
or unauthorized access to the Quick Service Portal.
8.2 The Customer will change the passwords frequently and will notify the
Bank immediately in the event that the Customer knows or suspects:
- any Identification Information have become known to any unauthorized person; or
- that there has been any unauthorized use or misuse of the Quick Service Portal.
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:
- any malfunction, errors, omissions, delay, break down, interruption in, improper operation of,
inaccuracies in the operation of the Quick Service Portal;
- the non-availability, failure to function normally or malfunction or interruption of the
internet, communications systems, etc.;
- any breach of confidentiality resulting directly or indirectly from the Customer’s use of the
Quick Service Portal; or
- any matter arising from causes beyond the Bank’s control.
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:
- Any misuse of the Quick Service Portal by any user where the
misuse is as a result of non-adherence to the Bank’s security procedures or these Terms and
Conditions and/or the terms and conditions of any Services provided through the Quick Service Portal
or any specific security procedures advised to the Customer by the Bank from time to time;
- Where the Customer fails to notify the Bank of any change in its
Users, or any e-mail address, mailing address or contact numbers;
- Any industrial dispute or other matter or circumstances outside the
Bank’s control or the control of the Bank’s agents and sub-contractors;
- Any Instructions or Transaction including any payment to any
beneficiaries arising from any inputting error the Customer may make;
- Any delay beyond the Bank’s control in performing any Service, making
payment to any beneficiaries or processing any other Transaction;
- Any loss of data, software, facilities, computer or other equipment
caused by the use of the Quick Service Portal;
- For the accuracy of any Non-Financial Transaction undertaken by the
Customer;
- Any failure by the Bank to process any Transaction or to carry out
the Customer’s Instructions if the Account was attached by a court order or blocked/frozen for
whatever reason;
- Any acts or omissions of any other bank or financial institution;
- Any delay or loss suffered as a result of the Bank complying with any
applicable rules, regulations or laws;
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
- The Customers shall provide their signature or authorized signatory’s signature upon opening the
Account.
- It shall be sufficient for the Bank to verify the signature of the Customer or his other
authorized signatory with the signature provided upon opening the Account.
- The Bank shall not assume any liability for the effects arising from forgery, imitation or for
any defects in the signature.
- The signatures kept in the Bank’s records shall be the only signatures recognized by the Bank
and the Customer may provide a replacement signature whereby the previous signature may no
longer be used for future transactions.
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:
- That the Bank’s record of the Account(s) and any Transactions and Instruction processed in
connection with the Quick Service Portal shall be conclusive evidence and legally binding
for all purposes.
- That the Bank or its affiliates and its or their employees, officers directors or its agents
shall not be responsible for any liability, including but not limited to loss cost (direct,
indirect or consequential) or damages (direct, indirect or consequential) or immediate refund,
which may arise from their failure to properly identify the beneficiaries or for any non-payment
because of loss, theft, misplacement, mistake, omission or mutilation.
- That the Bank may recover any amount due to it in relation to the Services by debiting the
Customer’s Account(s) with the Bank whether these Accounts are associated or not with the
Quick Service Portal.
- That the Bank or its affiliates are the owners of all rights in and to the Quick
Service Portal and all intellectual property with respect thereto.
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:
- May appoint agents to carry out any duties in connection with providing the Quick
Service Portal and may delegate to such agents the authority to perform any activity/function,
which the Bank is entitled to or obliged to perform.
- Shall have no responsibility for failure or non-performance of the Quick Service Portal
beyond the control of the Bank or its agents.
- Shall not accept any claims from the Customer for compensation of interest, loss of interest or
value dating for any Transaction carried out through the Quick Service Portal.
- Shall have the right to reject or cancel any Transaction or request if that Transaction or
request is incomplete, inconsistent, incorrect or in breach of any rule, law or regulation.
- Shall have the right to reject any request to amend or cancel a previous Transaction or request.
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.
