2.1    LOAN PRODUCTS

(i) having obtained all regulatory approvals;

(ii) our discretion; and

(iii) having launched the particular loan product(s)

These are loans to finance your personal acquisitions or meet major expenses. The amounts advanced will be based on your income and (where required) the security offered. Repayment of principal and interest is made in monthly installments.

This is to finance the purchase of goods and services from selected leading suppliers and retailers. Please note that we shall only be financing the purchase and shall not be responsible for the suitability or performance of the goods or services purchased.

Mortgage financing for the purchase of homes and other real property on the security of the property purchased may be made available by us, either directly or facilitated through third party banks and financial institutions.

Credit cardholders may be eligible for Credit Card Loans . Please refer to the "Terms and Conditions for Credit Cards" in Part V below.

The Flexi Loan Facility/Revolving Credit Line is a short term credit facility of an amount up to the agreed limits. Please refer to the terms and conditions for the same set out in Part IV Section 5 below.

We shall roll out other loan products from time to time to meet and cater for the specific needs of our customers' profiles.

2.2    CREDIT CARD PRODUCTS

We shall issue credit cards from leading associations (such as MasterCard or VISA) to all customers who meet our qualifying criteria. The credit card products will include supplementary cards, e-cards, credit card loans and ancillary services. Please note that every credit card issued and all credit card products will also be subject to the terms and conditions of the card association from time to time in force, in addition to these General Terms & Conditions and the various Specific Terms & Conditions applicable.

If you have an existing credit card from a bank or other provider you may apply for a Credit Card Balance Transfer by which we shall issue you with a credit card and have the balance on your existing credit card transferred to the card issued by us.

2.3    INVESTMENT PRODUCTS

If you hold investment accounts with us for the purchase and sale of investment products, you may on application be granted a loan or other finance on the security of the investment assets that you have invested through us.

2.4    INSURANCE PRODUCTS

2.5    PAYROLL CARD

3.1    BILL PAYMENTS

This is a service by which we pay your utilities bills on receipt of standing or periodic instructions from you.

3.2    ATM CARDS AND SERVICES

An automated teller machine (ATM) card may be issued to you to facilitate the drawing down of loans and other financial facilities and to make requisite payments for the products and services that we provide.

3.3    STANDING INSTRUCTIONS

Under this service standing instructions received from you for regular and periodic payments will be implemented by us by debiting the payments and charges against your credit card or other funds which may be available for you.

3.4    REMITTANCES

We may provide a service to you in conjunction with other financial institutions for the quick and convenient remittance of funds.

3.5    TELEPHONE SERVICES

Subject to security protocols being strictly followed, we may offer telephone customer services to you for accessing our products and services as well as other facilities from time to time. These facilities would be strictly at your risk as we are unable to accept any liability for any loss or damage howsoever caused or arising.

3.6    ONLINE SERVICES

We may offer online facilities to you for accessing our products and services from time to time, providing necessary information, accepting instructions and facilitating applications for our products and services. These facilities would be strictly at your risk as we are unable to accept any liability for any loss or damage howsoever caused or arising or any other responsibility for such facilities.

4.1    OPENING AN ACCOUNT

Our relationship with you as a customer begins when you open an account with us and you have been assigned a Customer Number (CN) (see below). The term "account" used in these General Terms & Conditions is not a bank account but refers to a running account in our records in respect of any product or service which we may extend to you. In order to open an account with us, you will be required to complete and sign an account opening application form or forms. At such time, we shall make available the following to you:

4.2    THE CUSTOMER NUMBER (CN)

The Customer Number (CN) is a number which we shall issue to you and which will be unique to you. It will allow you to access our facilities and products and will be the reference number for all information and data concerning you and the loan products and services extended to you.

This important number must be used with care, with the utmost confidentiality and must not be disclosed to any other person. When dealing with us you must quote your CN in order to facilitate all transactions with us. The CN remains your responsibility at all times. If a third party makes unauthorized use of the CN you will remain liable for all transactions carried out until you notify us of the loss or wrongful use and the CN is cancelled.

If you are issued with more than one CN by error or otherwise you must notify our customer service representatives immediately.

We shall treat all information concerning you as confidential unless it is information already in the public domain. We shall not disclose information concerning you to third parties, save that we shall be entitled to disclose information and documents concerning you to:

We shall also be at liberty at all times to obtain information about each customer from third parties such as credit bureaus, banks and retailers, and the Central Bank of the United Arab Emirates.

termination by you at any time at your discretion if you wish to cease using our Products or Services;

our belief acting in good faith that the source of your funds is not legitimate or the funds are in breach of any law or regulation;

failure by you to comply with any money laundering or other legislation and requirements thereunder, whether statutory or introduced by us.

11.    DEMAND FOR PAYMENT AND ENFORCEMENT

12.    APPLICATION OF FUNDS

13.    LATE PAYMENT CHARGES

14.    CONSOLIDATION AND SET OFF

We have the right at any time and without notice to you to combine or consolidate all or any of your accounts in our books and to set off or transfer any money standing to your credit in any account(s) with us with against your liabilities or obligations to us. We shall also be at liberty to apply any assets of yours which are in our custody or control towards the satisfaction of your liabilities or obligations to us whether they are actual or contingent or joint or several. If we combine or consolidate your accounts or if we exercise our right to set off it shall be without prejudice to any security we may hold.

15.     NOTICES AND COMMUNICATIONS

15.1     Your postal address, email address, fax number and telephone number as set out in the account opening form shall be taken as definitive for the purpose of sending notices and other communications to you. The particular means of communication used by us will be at our option. In the event of any change in particulars you are required to promptly notify us in writing of such change. Any change in particulars will only be effective as of the time Dunia receives actual notice of such change.

15.2    We may at our discretion facilitate or make available our Services and Products through the use of automated teller machines (ATMs), telefax, facsimile, email, internet communications, telephone or mobile telephony including short messaging services (SMS). In such cases we shall notify you of the availability of the facilities and the procedures applicable. We may require you to enter into a separate agreement for these facilities which will supplement and, in case of inconsistency, prevail over the General Terms & Conditions. Such facilities and communications carry risks and the risk of any losses occurring by use of these facilities and means of communication will be entirely yours. In particular, where we communicate with you through the internet or email at your request, or acquiescence, you will accept sole responsibility for any loss or damage caused by any mis-delivery or non-delivery of communications.

15.3    If we decide in our discretion to provide facilities or accept your application or request for Products or Services through the telephone or the telefax or facsimile ("fax") then pending any specific agreement the following shall apply:

We shall be at liberty to act on instructions or authorizations that we or our staff believe in good faith were issued by you without having to seek confirmation, even if it transpires that the instructions were not in fact issued by you.

15.4    If we decide to act on communications with you by telefax, fax, email, internet communications, telephone or mobile telephone including SMS, you as the customer accepting the risks will indemnify us against all costs, claims, loss or damage resulting from our acting on such communications.

15.5    We may record all communications through these various means for record keeping, training and security purposes. You will be taken to have consented and authorized us to make such recordings.

15.6    Please note that all such recordings and all our books, records and accounts will be conclusive and binding as will any certificate or statement of account issued by us, unless there is an obvious error or omission.

16.1    You may pay the amounts due to us on account of our Products and Services, late charges, other charges, loan repayments, credit card payments, or other payment due by personal cheques, cash payments, transfers through our branches, ATMs or any other means acceptable to us.

16.2     Please note that if a cheque issued by you is returned unpaid we shall debit your account or credit card with, and be entitled to collect, the amount of the cheque together with charges and costs incurred by us in respect of the unpaid cheque. If any cheque issued by you is dishonoured by you for lack of funds we reserve the right to terminate the provision of all Products (including credit cards) and all Services to you and demand the immediate repayment of all monies due and outstanding from you.

16.3    Dunia is authorised to debit, any amount due and outstanding from you for our Products and Services to your credit card account including principal, interest, charges, fees and commissions. You will settle such amounts in accordance with the provisions of Part V below.

16.4    Where payment is made by cheque, transfers, ATM or otherwise we shall only credit the relevant account or make the relevant payment on your behalf when we receive cleared funds and have had reasonable time to administer the credit. This excludes non-business days, such as weekends and holidays, and you should allow for such time. You should take into account reasonable cheque clearing times so as to ensure that funds are received for the required accounts prior to any due date so as to avoid late fees or penalty charges.

16.5    Cheques deposited with us as security for repayments or fee charges for Products and Services may be retained by us for a limited period in accordance with our record keeping policies after provisions of the products or services has terminated or ceased. Cheques will be destroyed by us on a regular basis in accordance with our internal guidelines. We shall not be liable to you or to any third party for any loss or damage howsoever caused or arising.

16.6    All cheque payments will be accepted subject to (a) clearance and realization of the amount of the cheque, (b) you assuming full responsibility for the genuineness and correctness of all signatures and endorsement appearing thereon and (c) the cheques being crossed and made payable to the order of dunia for your account. Dunia shall not assume any responsibility for realization of any cheques and shall not be responsible for loss or damage of the cheque or any delay however caused in clearance of the cheque.

16.7    In the event you pay cash to dunia to settle your next loan installment dunia will endeavor to retrieve the post dated cheque submitted by you for settlement of such installment. If dunia is unable to retrieve the post dated cheque and the post dated cheque is presented for clearing but is dishonoured for lack of funds in your account, dunia will only be liable to you to the extent of any charges or fees charged to your account by your bank upon submission by you of satisfactory documentary evidence of such charges. dunia shall not be liable for any indirect or consequential damages that may be suffered by you as a result of the foregoing.

17.    ADJUSTMENTS

18.    JOINT ACCOUNTS

18.1    A joint account for any Products or Services is an account opened in our records in the name of more than one person. Whether an account is a single account or a joint account will be determined by us on the basis of the account opening forms and other documentation. We shall implement the instructions of the authorized signatory or signatories for a joint account. However, if conflicting instructions are received from the signatories of a joint account we may at our discretion decline to act on any instructions until a fresh and clear mandate from all the account holders and signatories is issued. Where the instructions are from an authorized signatory(ies) whose lawful authority has not been revoked we shall be entitled, without any liability attaching, to implement such instructions.

18.2    Where a person who is one of the parties to a joint account dies or loses his legal capacity, the surviving joint account holder/holders must inform us of the same in writing within 10 days. On receiving such notice we shall suspend operations of the joint account in respect of the product or service until it is proved to our satisfaction that a successor or legal representative of the deceased or incapacitated joint account holder has been appointed in accordance with the applicable laws of the United Arab Emirates. We shall not be liable for any activity which may take place prior to receiving such notice.

18.3    Any obligations or liability arising in respect of any joint account will be the joint and several responsibilities of all the parties to the joint account.

19.    TRANSFER AND ASSIGNMENT, OUTSOURCING

We are entitled to sell, transfer, assign, discount, pledge or charge as security to any third party organization some or all our rights or obligations under or in respect of any Product or Service or any credit card provided to you without notice to you or without your consent. In particular, we shall be at liberty to sell, transfer, pledge or assign any or all of our business or activities to a third party or we may merge our business with that of a third party. In all these cases the General Terms & Conditions and the various Specific Terms & Conditions shall continue to govern and apply to all customers, Products and Services. You as a customer may only assign your rights and obligations with regard to a Product, Service or credit card subject to our prior written consent.

We may also, at our sole discretion and without requiring any customer consent, delegate or outsource any one or more of the administrative, accounting or service functions in connection with the Products and Services to any third party service provider we select in good faith.

20.    FORCE MAJEURE

We shall not be liable to you for any delay or non-performance of our obligations in respect of any Products or Services arising from any cause beyond our reasonable control including, without limitation, Act of God, governmental act, war, fire, flood, explosion, natural disaster, civil commotion or riots. In such event we shall resume performance of our obligations as soon as reasonably possible after the removal of the cause.

21.    WAIVER

We may at our discretion waive compliance with any of the General Terms & Conditions or other terms and conditions as applicable but this will not prejudice or become a waiver of our rights and benefits generally. We shall still have the right to fully enforce terms and conditions at a future date.

22.    OUR RIGHTS AND LIABILITIES

22.1    Subject as above, we are not liable for any act or omission of any third party in respect of any Products or Services, nor are we liable for any loss, damage or claims however arising, unless the same was caused by our gross negligence or willful misconduct.

22.2    All our rights under these and other applicable terms and conditions shall be in addition to and independent of any securities, agreements and obligations you may have with or towards us.

23.    EXCLUSIONS AND GENERAL INDEMNITY

23.1    We shall act in good faith at all times and provide our services on a best efforts basis. Other than this obligation, we shall not be liable or responsible for any default, defect, shortcoming or loss in providing the services, and we shall not be liable for any loss or damage howsoever caused or arising.

23.2    You will indemnify us and hold us harmless against any loss, damage, liability, costs and expenses, whether legal or otherwise, which we may incur by reason of any breach by you of these and other applicable terms and conditions or by reason of our enforcing any of our rights under such terms and conditions. All costs and expenses incurred by us on account of enforcing such terms and conditions will likewise be reimbursed by you.

23.3    We shall act at all times in accordance with all applicable laws, regulations or rules and the terms of agreements with other banks or financial institutions. If in doing so we act contrary to any instructions you may have given us, we shall not be liable for any loss or damage howsoever caused or arising.

24.    COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS

All our Products and Services may only be utilized by you in compliance with all regulatory, statutory, governmental and judicial laws, requirements and provisions of the United Arab Emirates.

25.    DISCLOSURE OF INFORMATION

25.1   You hereby warrant and represent that that you have notified each of your shareholders, partners, directors and/or beneficial owners (as applicable) that Information may be disclosed by dunia or that dunia may obtain and receive Received Information.

25.2   You hereby authorise and permit dunia to disclose Information or obtain and receive Received Information.

25.3   You hereby warrant and represent that you are duly authorized on behalf of each of your shareholders, partners, directors and/or beneficial owners (as applicable) to consent to the disclosure of Information or the receipt of Received Information by dunia.

25.4   You agree to indemnify and hold harmless dunia, its owners, officers, employees and agents from any costs, losses, claims, damages or liability, howsoever caused by your failure to obtain any of the requisite consent(s) or to provide the requisite notification(s), as stated here under.

26.    GOVERNING LAW AND DISPUTE RESOLUTION

26.1    The Products and Services as well as these General Terms & Conditions and all variations, additions and amendments to them from time to time and all other applicable terms and conditions including the various Specific Terms & Conditions shall be governed by the laws of the United Arab Emirates. As all the transactions contemplated are commercial in nature, the provisions of the Civil Code (The Law of Civil Transactions of the United Arab Emirates) (Federal Law No. 5 of 1985) shall not apply to these various terms and conditions nor shall they apply to the Products or Services or any transaction pursuant thereto.

26.2    Any dispute or difference between Dunia and any customer arising in respect of or touching upon any transaction, any of the Products or Services, the General Terms & Conditions and various Specific Terms & Conditions will be submitted to the non-exclusive jurisdiction of the civil courts of the Emirate which we elect to be the convenient or relevant jurisdiction in the United Arab Emirates.

1.1   Salary transfer Loans depend on your monthly salary and are available subject to:

an acknowledgement and acceptance by your employer of instructions as to your salary transfers in respect of payments due;

1.2   Any change in your employment status must be notified to us as soon as possible. If you are self employed you must inform us of any material downturn in your income as soon as this occurs.

2.    VEHICLE LOANS

2.1   If we make available a Loan to finance purchase of a car or other vehicle ("the Vehicle Loan"), you will inspect the vehicle to ensure that it is in good working order. We only act as facilitators and simply finance the purchase. We do not under any circumstances make any representations, warranties or assurances as to the vehicles or their condition

2.2   Every Vehicle Loan will be paid directly to the supplier, dealer or seller of the vehicle.

2.3   Vehicle Loans are conditional upon your undertaking to:

2.5   In case any Event of Default occurs, we shall be entitled to demand immediate payment of the outstanding Vehicle Loan and seize the vehicle or (where applicable) make a claim on the insurance. For this purpose, you hereby appoint us as your attorney in fact, with express authority to seize or take possession of the vehicle, transfer and sell the vehicle at your cost and expense, make insurance claims with regard to the vehicle and demand payment of any insurance proceeds from the insurance company.

3.    PURCHASE FINANCE

3.1   We may enter into agreements with certain suppliers and retailers of goods and services (each "a Supplier") directly for the purchase of such goods and services by our customers on the basis of finance provided by us ("Purchase Finance").

3.4   The risk of damage or loss to such goods shall vest at all times with you and we shall not be responsible for any damage, interference or loss to such goods or services, as the case may be.

4.    MORTGAGES

4.1   We may provide mortgage financing ("Mortgage Loan") through third party banks and financial institutions for the purposes of assisting you to acquire residential, commercial and industrial or other properties. The Specific Terms & Conditions for any particular mortgage offered including the applicable rate of mortgage interest will be set out in the confirmation letter and mortgage documents from us or from the third party bank or financial institution through whom we have procured the mortgage. These Specific Terms & Conditions will be binding on you as the mortgage customer.

4.4   If an Event of Default occurs, the third party mortgage providers will be entitled to immediately sell or agree to sell the mortgaged property, in accordance with the legal procedures applicable, to any purchaser at a price that we acting in good faith deem to be a fair market or best reasonably available price. For this purpose, you will be deemed to have duly authorized us to sell the property in your name and on your behalf and to retain the sale proceeds therefor.

5.    FLEXI LOAN / REVOLVING CREDIT FACILIITIES

5.1   We may offer you a Flexi Loan Facility. In addition to the terms and conditions appearing below, the specific terms and conditions for the product offered including the applicable interest rate, charges and fees including the securities etc will be set out in the confirmation letter. Reference to Flexi Loan Facility in the following section includes reference to revolving credit facilities.

5.2   Any approval of this Flexi Loan Facility will be at our discretion. You will be notified the limits of the Flexi Loan Facility ("the Flexi Loan Facility") upon approval, by a confirmation letter or any other means as decided from time to time by us.

5.3   You can avail the Flexi Loan Facility by requesting us to issue a cheque or draft in your or any third party's name, acceptable to us. We may additionally issue you a card for conveniently drawing down the Flexi Loan Facility.

5.4   You will pay to us interest calculated on the basis of daily outstanding balances and all other charges on the amounts outstanding from time to time for the Flexi Loan Facility, at the rate(s), on the date(s) and in the manner specified in the schedule of charges or in the confirmation letter provided however such rate(s) may be amended from time to time, at our sole discretion, upon thirty (30) days prior written notice to you.

5.5   We may require you to deposit undated cheques drawn in our favour for the amount of the Flexi Loan Facility or make an advance payment as condition for issuing the Flexi Loan Facility.

5.6   In addition to interest and other applicable fees and charges being payable in respect of the Flexi Loan Facility you will be required to repay the minimum monthly dues, as stated the agreement.

5.7   Please ensure that you make payment on payment due date on your facility as per the terms of the Flexi Loan Facility. We may send a monthly statement of the Flexi Loan Facility to you, listing out the transactions and financial liabilities incurred during that period as well as payments made by you during the period in respect of the same. The minimum amount due shall be such percentage of the total monies outstanding on the Flexi Loan Facility as decided by us from time to time. If the outstanding balance exceeds your Flexi Loan Facility you must pay the excess amount, additionally. You must make these monthly payments even if you dispute the amounts shown on the statement and we shall in the meantime make every reasonable effort to resolve the disputed charge. In the event that a statement is not received by you, it is your obligation to contact our 24-hour Contact Center and obtain details of the amount due and make payment by the payment date.

5.8   If you do not pay the minimum payment amount and any excess amount by the specified date, subject to the Central Bank regulations a late payment fee as well as applicable charges calculated on a daily outstanding balance basis will be applied to the balance from the date(s) of the transaction until payment is made. If you pay less than the current balance or if no payment is made or if a payment is made after the payment due date, the applicable charge calculated on a daily basis will be applied to the current balance from the date(s) of the transaction until any payments are credited to the Flexi Loan Facility account and thereafter on the reduced balance. The applicable charges will be applied to any transactions occurring after the date when the latest monthly statement was issued and will be with effect from the date(s) of the transaction(s).

5.9   If you pay more than the amount due, the excess amount paid will be held to your credit. You will not be entitled to any interest on the amount standing in credit. We reserve the right to question the source of funds for excess balances held to your credit.

5.10   All transaction and charges will be debited in UAE Dirhams and will be set out in the monthly statement. Transactions and charges originally debited in a foreign currency will be converted at our prevailing rates of foreign exchange for such currency and subject to our foreign exchange transaction charges.

5.11   When you make payment we shall apply it to the amounts outstanding on your Flexi Loan Facility in the following order of priority:

In the case of defaulting customers whose Flexi Loan Facility have been terminated (‘write off"), we may apply the amounts recovered from you in the following order of priority:

5.12   After thirty (30) prior written notice to you the availability period of the Flexi Loan Facility may be varied by us from time to time. You also agree and authorize us, at our sole discretion and option to automatically renew/roll over/ revolve the same for such limit, for such further periods and subject to such modifications in these terms and conditions as may be deemed fit by us, after (30) days prior written notice to you.

5.13   Early repayment of the Flexi Loan Facility is permissible subject to repayment of the outstanding amount and payment of interest on such outstanding amount by you as may be determined by us from time to time.

5.14   We reserve the right to recall the Flexi Loan Facility, enforce security and guarantees, if any, and appropriate proceeds thereof towards the outstanding amounts and recover the balance from you.

5.15   All payments to us must be made free of all withholding and other taxes, or statutory deductions, withholding fees or deductions, and received on or before the respective due date, net of any taxes and withholdings.

5.16   Any acceptance of late payments or partial payments will not operate as a waiver by us or modification of these terms and conditions or the various specific terms and conditions applicable nor will it prevent us from enforcing all our rights by virtue of such terms and conditions and collecting the amount due from you.

5.17   When a card is issued to you it will be dispatched to you by courier or by regular mail at your risk. Alternatively, we may request you to collect it from our financial centers. Upon receipt of the card, you must sign at the back of the card and call our 24 -hour Contact Center unit to activate your card, if it is not already activated. Prior to activation the card must not be used.

5.18   We may issue a PIN (Personal identification number) or facilitate the selection of a PIN by you for use of the card as a security measure. Any such PIN must be kept safe and confidential and must not be disclosed to third parties. You will be responsible for any unauthorized use of your PIN on card.

5.19   Every card will also be subject to terms and conditions stipulated by the association issuing the card (such as Master and Visa card etc) or as set out in the agreement.

5.20   The card is and will always be our property. It must be surrendered to us immediately upon demand by us at any time, whether or not the card has expired.

5.21   We are not responsible for any loss or damage arising as a result of any merchant, supplier, member card institution or bank or ATM declining to honour your card or accept it or to provide any cash advance for any reason whatsoever, whether valid or not.

5.22   You may be permitted to draw down cash advances on your Flexi Loan Facility, up to the maximum cash advance limit set from time to time by us, by presenting your card at any bank or financial institution or at any other ATM where we have arrangements in place.

5.23   If you use your card to obtain a cash advance on your Flexi Loan Facility facility, a cash advance fee will be charged. You will also pay interest on the amount withdrawn. The interest and cash advance charges will be debited to your Flexi Loan Facility.

5.24   Cash withdrawals from ATMs of other banks may attract a fee where applicable (for example the UAE SWITCH network fee). Fees may also be levied by the bank disbursing the cash advance

5.25   We may agree to issue a supplementary card to a person nominated by you in your capacity as the primary card holder and approved by us. You may both be required to complete the necessary application form and pay any fees prescribed as may be decided from time to time. The supplementary card may be used to transact on the Flexi Loan Facility.

5.26   You and the supplementary cardholder will be jointly and severally liable for all debits and outstanding incurred on the Flexi Loan Facility through the use of the primary and supplementary cards.

5.27   You as the primary cardholder will fully indemnify us against any loss, damage, liability cost and expenses however incurred by us in respect of the debits on the Flexi Loan Facility through the use of supplementary card and any breach by the supplementary cardholder of these terms and conditions.

5.28   The Flexi Loan Facility applicable to you is also the aggregate limit for you and all supplementary cardholders, unless otherwise instructed by you. We may also increase the limit for the supplementary card without giving notice to you as the primary card holder.

5.29   If your Flexi Loan Facility is terminated for any reason or expires or is not valid, all associated cards (primary or supplementary) will forthwith cease to be valid.

5.30   We shall be at liberty to withdraw or cancel the supplementary card at any time in our sole discretion without having to provide any reason.

5.31   You will take all reasonable precautions to prevent the loss, theft and unauthorized use of your card or any personal identification number (PIN) issued by us.

5.32   You must notify us immediately of any loss or theft of the card, and also notify the police authorities of the country where the loss occurred. You will be fully liable for all debits to a lost or stolen card unless you have notified us of the theft or loss and we have had a reasonable opportunity to block the use of the card.

5.33   In the case of loss or theft of a card or PIN we may at our sole discretion issue a new card or a new PIN. We may also issue a new card in case of a card being compromised through use at a merchant or in a particular country.

5.34   If at any time you do not wish to use the card you are required to cut it in half and return both halves to us. You are liable for all transactions and charges billed on the Flexi Loan Facility whether they are prior to or after the return of card and all outstanding amounts must be settled in full.

5.35   The Flexi Loan Facility in the card and including supplementary cards will also be terminated if the primary cardholder:

5.36   When you have settled all amounts due and outstanding on a card which has expired or been terminated we shall issue a clearance letter at your request provided that all other amounts, if any, due and owing to us from you, a co-borrower or third party for whose outstanding debt you may be responsible have been settled and paid.

6.    CREDIT CARD LOANS

7.    INVESTMENT FINANCE

1.   We may offer you a credit card (or cash card or debit card as the case may be) at our sole discretion if you qualify for the credit card and make the requisite application for it.

2.   When a credit card is issued to you it will be dispatched to you by courier or by regular mail at your risk. Alternatively, we may request you to collect it from a branch. On receipt of the card, you must sign the back of the credit card in the space indicated and call our phone banking unit to activate your card, if it is not already activated. Prior to activation the card must not be used.

3.   Every credit card will also be subject to terms and conditions stipulated by the association issuing the card (such as Visa, MasterCard, etc) or set out on the application form.

4.   If you do not wish to use the credit card you are required to cut it in half and return both halves to us. The termination provisions set out below will thereupon apply. However, you will be liable for all transaction costs and charges billed on the card whether they are prior to or post the return of the card and all outstanding accounts must be settled in full.

5.   The credit card is and will always be our property. It must be surrendered to us immediately upon demand by us at any time, whether or not the card has expired.

6.   We have the right to cancel, suspend or withdraw the credit card at our absolute discretion without prior notice and without giving any reason. In such event we shall also be entitled to convert the balance the outstanding balance into a term loan over a period determined by us. We shall not be liable for any consequences, claims or loss as a result of such cancellation, suspension or withdrawal or the conversion into a term loan.

7.   You may not transfer the credit card to any other party and it may be used only by you. The card must remain with you at all times and you are fully responsible for its safe custody and use. You will be liable for all transactions on the card carried out by any other party.

8.   We may issue a PIN (personal identification number) or facilitate the selection of a PIN by you for use with your credit card as a security measure. Any such PIN must be kept safe and confidential and must not be disclosed to third parties. You will be responsible for any unauthorized use of your PIN or credit card.

9.   You may not use the credit card as security for any purpose.

10.   We shall set a credit limit for any credit card issued to you at our sole discretion. Subject to the credit limit, we shall set an operational limit for each card issued to you at our sole discretion. The operational limit shall be the maximum amount that you may utilise by using your card. This operational limit may be increased or reduced by us at any time. Any increase of your operational limit shall be subject to a maximum amount equal to your credit limit. If you exceed the operational limit you will incur an excess charge. This may also result in cancellation of the credit card.

11.   Please familiarize yourself with the various charges and interest rates applicable to the credit card and outstanding debit balances. These will be detailed in the letter and material accompanying the credit card you receive and set out in our credit card tariff sheet from time to time. We reserve the right to vary the rate or method of calculation of the various charges and the amount of the minimum payment. Your credit card statement of account will indicate the total balance outstanding on your credit card and the minimum amount that you must pay on or before the specified payment date. If the outstanding balance exceeds your operational limit you must also pay the excess amount. You must make these monthly payments even if you dispute the amounts shown on the credit card statement and we shall in the meantime make every reasonable effort to resolve the disputed charge. In the event that a statement is not received it is your obligation to contact our credit card department and obtain details of the amount due and make payment by the payment date.

12.   If you do not pay the minimum payment amount and any excess amount by the specified date, subject to the Central Bank regulation a late payment fee as well as finance charges calculated on a daily outstanding balance basis will be applied to the balance from the date(s) of the card transactions until payment is made. If you pay less than the current balance or if no payment is made or if a payment is made after the payment due date, the finance charge calculated on a daily basis will be applied to the current balance from the date(s) of the card transactions until any payments are credited to the card account and thereafter on the reduced balance. The finance charge will be applied to any card transactions occurring after the date when the latest statement of account was issued and will be with effect from the date(s) of the card transaction(s).

13.   If you pay more than the amount due, the excess amount paid will be held to your credit. You will not be entitled to any interest on the amount standing in credit. We reserve the right to question the source of funds for excess balances held on a credit card.

14.   All transactions and charges will be debited in UAE Dirhams and will be set out in the statement of account. Transactions and charges originally debited in a foreign currency will be converted at our prevailing rates of exchange for such currency and subject to our foreign exchange transaction charges.

15.   When you make a payment we shall apply it to the amounts outstanding on your credit card in the following order of priority:

(a)  Interest charged on cash advances which have been billed;

(b)  Cash advance fees which have been billed;

(c)  Interest charged on purchases which have been billed;

(d)  Charges which have been billed;

(e)  Late fees and over limit fees;

(f)  Card insurance charges & fees (if any);

(g)  Card membership fees;

(h)  Cash advances which have been drawn and billed;

(i)  Purchases which have been made and billed;

(j)  Cash advances which have been drawn but not yet billed; and

(k)  Purchases which have been made but not yet billed.

In the case of defaulting customers whose credit cards have been terminated ("write – off") we may apply the following order of priority:

(a)  Principal and charges outstanding (including cash advances);

(b)  Card insurance charges & fees billed prior to write-off (if any);

(c)  Card membership fees outstanding, for period prior to write-off;

(d)  Cash advance fees which have been billed prior to write-off;

(e)  Interest charged on cash advances, which have been billed prior to write-off, at the applicable rate till the settlement date of all amounts outstanding;

(f)  Interest on amounts outstanding at the applicable rate on an ongoing basis till settlement date of all outstanding amounts; and

(g)  Late fees and over limit fees.

16.   If you dispute a debit to your card as a result of an apparent transaction we shall investigate the transaction. If the disputed amount was properly charged, we shall charge you a fee for the investigation.

17.   You may not transfer funds from one card account to settle the amounts due on another card account.

18.   Subject to Central Bank regulations, we may require you to deliver a cheque(s) in our favour for an amount equal to 120% of the credit limit or make an advance payment for such amount as a condition of issuing the credit card.

19.   Renewal of a credit card which expires shall be entirely at our discretion and may be subject to amended and/or additional terms and conditions.

20.   You may be eligible to apply for an upgrade or conversion of your credit card. Where a credit card is upgraded or converted to another credit card all the debit balances and, to the extent possible, the reward points and other privileges attached to your existing credit card will be transferred to your new credit card.

21.   If you present other bank credit cards as proof of credit card ownership, we shall be at liberty to debit the card for a nominal amount (which will be reversed thereafter) in order to authenticate and ensure that the card is active.

22.   We may without your consent or notice to you transfer, sell, assign, discount, pledge, charge or utilize as security the outstanding indebtedness on your credit card(s).

23.   EXEMPTIONS AND EXCLUSIONS

23.1 We are not responsible for any loss or damage arising as a result of Dunia or any merchant, supplier, member credit card institution or bank or ATM declining to honour your credit card or accept it or to provide any cash advance for any reason whatsoever, whether valid or not.

23.2 We are not responsible for any defect in or dissatisfaction with the goods or services purchased by you through the credit card, or for any breach or non-performance by the supplier or retailer. If you have any dispute with the supplier of any goods or services for which you have paid by credit card you will remain liable to us for any debits on your card and this liability will not be affected by the dispute or claim against the supplier.

24.   PAYMENT ON CREDIT CARDS

24.1   All payments to us must be made free of all withholding and other taxes, or statutory deductions, withholding fees or deductions, and received on or before the date specified in the card statement received, net of any taxes and withholdings. In such cases, you must pay the grossed up amounts so as to ensure that the correct net amount is received.

24.2   All payments received by us will be applied against the amounts outstanding on your card in the order set out in Part II or in any other order as we may in our sole discretion from time to time decide.

24.3   Any acceptance of late payments or partial payments will not operate as a waiver by us or modification of these General Terms & Conditions or the various Specific Terms & Conditions applicable nor will it prevent us from enforcing all our rights by virtue of such terms and conditions and collecting the amounts due from you.

24.4   An available operational limit does not necessarily mean that a further transaction will be approved. Each transaction will be individually accepted or declined at the point of sale based on the customer's credit standing at the time of the transaction or other assessment and at the sole discretion of Dunia.

25.   CREDIT CARD CASH ADVANCES

25.1   You may be permitted to draw down cash advances on your card, up to the maximum cash advance limit set from time to time by Dunia, by presenting your card at any bank or financial institution or at any other ATM where we have arrangements in place.

25.2   If you use your credit card to obtain a cash advance, a cash advance fee will be charged. You will also pay interest on the amount withdrawn. The interest and cash advance charges will be debited to your credit card.

25.3   Cash withdrawals from ATMs of other banks may attract a fee where applicable (for example the UAE SWITCH network fee). Fees may also be levied by the bank disbursing the cash advance.

26.   ISSUE OF SUPPLEMENTARY CARD

26.1   We may agree to issue a supplementary card to a person nominated by you as the primary card holder and approved by us. You may both be required to complete the necessary application form and pay any fees prescribed.

26.2   You and the supplementary cardholder will be jointly and severally liable for all debits and outstandings incurred on the primary and supplementary cards.

26.3   You as the primary cardholder will fully indemnify us against any loss, damage, liability cost and expenses however incurred by us in respect of the debits on the supplementary card and any breach by the supplementary cardholder of these terms and conditions.

26.4   The credit and operational limit applicable to you is also the aggregate credit or operational limit, applicable in the aggregate for you and all supplementary cardholders, unless otherwise instructed by you. We may also increase the operational limit for the supplementary card without giving notice to you as the primary card holder.

26.5   If your primary credit card is terminated for any reason or expires or is not valid, the supplementary card will also cease to be valid.

26.6   We shall be at liberty to withdraw or cancel the supplementary card at any time in our sole discretion without having to provide any reason.

27.   LOSS OF CARD AND EXPIRY/TERMINATION

27.1   You will take all reasonable precautions to prevent the loss, theft and unauthorized use of your credit card or any personal identification number (PIN) issued by us.

27.2   You must notify us immediately of any loss or theft of the credit card, and also notify the police authorities of the country where the loss occurred. You will be fully liable for all debits to a lost or stolen credit card unless you have notified us of the theft or loss and we have had a reasonable opportunity to block the use of the credit card.

27.3   In the case of loss or theft of a credit card we may at our sole discretion issue a new credit card or a new PIN. We may also issue a new card in case of a credit card being compromised through use at a merchant or in a particular country.

27.4   If you as the primary cardholder fail to make any required payments due from time to time under the credit card we have the right to immediately cancel or terminate the credit card.

27.5   If at any time you do not wish to use the credit card you are required to cut it in half and return both halves to us. You are liable for all transactions and charges billed on the card whether they are prior to or after the return of card and all outstanding accounts must be settled in full.

27.6   The credit card together with all supplementary cards will also be terminated if the primary cardholder:

(i)  dies;

(ii)  becomes bankrupt or insolvent;

(iii)  is legally incapacitated; or

(iv)  (at our discretion) ceases to be a resident of the UAE.

27.7   If the credit card expires and is not renewed, or if the credit card is terminated for any reason, you will immediately pay to us the entire outstanding balance together with all accrued costs, fees, charges and interest at our prevailing rate. Until such time as you have paid the amount due in full all interest, costs, charges and fees will continue to apply. We are not obliged to refund any part of an annual fee for premature termination howsoever caused.

27.8   When you have settled all amounts due and outstanding on a credit card which has expired or been terminated we shall issue a clearance letter at your request provided that all other amounts, if any, due and owing to us from you, a co-borrower or third party for whose outstanding debt you may be responsible have been settled and paid.

28.   E-CARD

28.1   Credit cardholders may be offered an e-card to enable payment of any purchase of goods or services through the internet. This may be a physical card or, at our option, a virtual card.

28.2   On receiving the e-card you may be required to call a prescribed telephone number immediately in order to activate the card.

28.3   Unless the e-card is returned to us or terminated forthwith you will be deemed to have accepted the e-card subject to these Terms and Conditions.

28.4   We shall be entitled to issue the e-card subject to further Specific Terms & Conditions and procedures.

28.5   The e-card will be subject to an annual fee.

28.6   The credit and operational limits assigned to any credit card issued to you shall include the credit and operational limits for the e-card. The total of all transactions incurred through the credit card and the e-card must therefore not exceed the single operational limit, but within this operational limit you may choose to allocate a specific limit to the e-card. All the terms and condition applicable to credit cards will apply to e-card to the extent feasible.

28.7   All e-card transactions will be debited to the credit card account and will be included in the credit card statement of account.

28.8   We may at any time recall or cancel the e-card with or without prior notice and are not obliged to cite any reason. In that event, you will immediately return the e-card to us or terminate it as required.

28.9   You will take all reasonable precautions to prevent the loss or theft of the e-card or the disclosure of the e-card number and expiry date to unauthorized persons. You will also bear all responsibility and liability resulting in such loss or theft until cancellation of the e-card by us after notification.

29.   CREDIT CARD LOAN

29.1    We shall offer credit card loans (the "Credit Card Loan") to credit cardholders. Credit Card Loans may be one of two types: (a) You may apply for a bank draft or manager's cheque for any amount not exceeding the balance of your operational limit made payable to yourself or a third party; or (b) You may apply for the amount of a large purchase (subject to a minimum amount) already debited to your credit card to be converted into a term loan with an agreed installment payment plan.In either case, the repayment installments and charges as well as the Specific Terms & Conditions for the loan will be set out in the application form, notified by letter or advised by telephone.

29.2   Only primary cardholders may be entitled to a Credit Card Loan for an amount not exceeding the existing balance of the operational limit on the credit card.

29.3   The Credit Card Loan will be repayable with interest and other fees and charges notified to you. Repayment will be in monthly installments over the term of the period approved by us. These monthly installments will be calculated by us on the basis of the principal amount due, interest and other charges. The installment due for each month will be billed to the monthly statement of account for your credit card and will form part of the minimum amount payable.

29.4   You are under an obligation to pay the monthly installments calculated and debited to your statement of account regardless of whether or not you use the loan.

29.5   You may with our approval and in accordance with the applicable terms and conditions prepay the Credit Card Loan in one lump sum in which case you will have to pay a prescribed prepayment fee.

29.6   Please note that if you fail to make payment of any installment due, the entire Credit Card Loan and all interest will become immediately due and payable and we shall have the right to demand immediate payment.

30.   REWARDS PROGRAMME

30.1   All cardholders holding a credit card issued by us will be eligible to participate in any rewards programme or programmes which we may initiate. The programme will be subject to the following terms and conditions in addition to other Specific Terms & Conditions issued from time to time.

30.2   Reward points will be issued on the basis of the criteria which we publish from time to time based on the usage of the card and the amount of eligible types of expenditure incurred through the card. The reward points may be redeemed for goods, services or benefits set out in the reward catalogue current for the time being.

30.3   Cardholders will only be eligible to participate if their credit card is in good standing and valid at all times. We reserve the right not to credit points for cash advances, finance charges, penalties, utility bill payments and any other types of expenditure which we may specify. The list of eligible transactions will be determined in our sole discretion and may be varied by us without prior notice.

30.4   The reward points credited to every cardholder will be indicated on the cardholder's monthly statement.

30.5   Cardholders may use their reward points for goods, services and benefits set out in the rewards catalogue which we issue online and/or publish in hard copy from time to time. The procedures and manner in which reward points may be redeemed will be set out in the rewards catalogue. Please note that the rewards catalogue may be changed or replaced from time to time as determined by us.

30.6   Our books and records will be conclusive as to the reward points which a cardholder has accrued, redeemed or forfeited.

30.7   If a credit card is cancelled or terminated or if the account is past due, we may in our discretion not permit the cardholder to earn or redeem the reward points.

30.8   Accumulated reward points may be cancelled if

          (a) the credit card is not in good standing;

          (b) the credit card has expired or has been terminated or revoked or expires without renewal.

          (c) there has been a breach of the card agreement or any applicable terms and conditions;

          (d) any other event occurs that in our sole discretion disqualifies the cardholder from redeeming the reward points; or

          (e) the credit card has expired or has been terminated or revoked or expires without renewal.

30.9   Certain goods or services offered through the rewards catalogue may not be available from time to time. In such cases, we reserve the right to substitute such goods and services with rewards of a comparable value or type.

30.10   The rewards catalogue may be varied, amended or re-issued from time to time. Redemption of points shall only be for the goods, services and benefits set out in the catalogue current at the particular time.

30.11   We shall not at any time be considered as the supplier of the goods, services or benefits for which the reward points have been redeemed and will not be responsible for such goods, services and benefits. We undertake to make available the goods, services and benefits through third party suppliers. We give no warranty and undertake no liability in respect of the quality of the goods, services and benefits redeemed for the reward points or their suitability or fitness. If the goods, services or benefits are faulty, unsatisfactory or defective in any way we shall convey the complaints to the supplier.

30.12   Reward points may have a time limit or expiry date placed for their redemption.

30.13   We reserve the right to disqualify a cardholder from any rewards programme.

30.14   We reserve the right to cancel/amend or discontinue any rewards programme and cancel any accrued rewards or reward points without any liability to us.

31.   APPAREL-DUNIA CO-BRANDED CREDIT CARD-SPECIFIC TERMS AND CONDITIONS

The following terms and conditions shall be applicable to co-branded credit cards that are launched jointly from time to time by Apparel and dunia (hereinafter referred to as "Club Apparel-dunia Credit Card") in addition to the general terms and conditions appearing above under Part V (other than Clause 30 thereof). You shall be deemed to have accepted all terms and conditions contained herein upon signing, activating and using the Club Apparel - dunia Credit Card.

I. Definitions   
Unless the context requires otherwise, the following capitalized terms shall have the meanings ascribed to them as under:

Apparel  means Apparel FZCO, a company incorporated and existing under the laws of JAFZA, United Arab Emirates, having its registered office at Plot No: S21317, Jebel Ali Free Zone, Dubai, which expression shall include it successors in interest and permitted assigns.

Apparel Stores  means all the retail stores either owned or operated by Apparel or its affiliate in the UAE at present or in the future, as notified by us from time to time.

Club Apparel Loyalty Account  means the account maintained and operated by Apparel into which Loyalty Points will be credited for each Valid Spend.

Club Apparel Loyalty Program   means the loyalty program offered by Apparel pursuant to which Loyalty Points will be credited to your Club Apparel Loyalty Account and which may be redeemed against Apparel products, discounts and other loyalty incentive rewards.

Loyalty Points   means the points calculated by us as a percentage of the Valid Spend that you incur using the Club Apparel – Dunia Credit Card and credited to your Club Apparel Loyalty Account.

Valid Spend  means amounts spent by you using the Club Apparel - Dunia Credit Card within the credit limit applicable to you for purchases made at Apparel Stores and Other Stores in accordance with these terms and conditions, but shall not include the following transactions on the Club Apparel - Dunia Credit Card: (a) fees, charges and interest; (b) any cash withdrawals or advances; (c) balance or money transfers; (d) credit card loans; (e) foreign currency purchases; (f) premiums and other payments in relation to insurance products or products that we may choose to offer; (g) utility bill payments; (h) any finance charges; or (i) any other transactions that we may include in this list from time to time.

Other Stores   means all establishments supplying goods and/or services other than Apparel Stores which accept the Club Apparel - Dunia Credit Card as a mode of payment within or outside the UAE. II. Specific Terms and Conditions

31.1   You hereby agree that for purposes of Clause 5 of Part II of the Terms and Conditions of General Application we shall be authorized to disclose information pertaining to you, your credit card, and your relationship with us, to Apparel and its subsidiaries, associates, branches, assignees, service providers, insurers, agents and other parties in order to enable us and Apparel to perform each of our obligations relating to Club Apparel - Dunia Credit Card.

31.2   You will be eligible to accumulate Loyalty Points and take part in the Club Apparel Loyalty Program subject to the terms and conditions contained herein. The Club Apparel - Dunia Credit Card will not be eligible to earn rewards points, cash back, etc. under any other credit card rewards scheme of Dunia.

31.3   You shall be eligible to accumulate Loyalty Points and Loyalty Points will be awarded to you, only if (a) your Club Apparel - Dunia Credit Card is valid and in good standing in accordance with our criteria and standards, as amended from time to time; (b) no breach has been committed by you of these terms and conditions; (c) no other event has occurred, which, in our opinion, should result in the cancellation of the benefit of the Loyalty Points and/or the Club Apparel Loyalty Program.

31.4   All Valid Spend charged to Club Apparel - Dunia Credit Card will be eligible for Loyalty Points. We reserve the right, in our sole discretion to be exercised at any time and without prior written notice to you, to change the ratio between Valid Spend and the Loyalty Points awarded for such Valid Spend. We also reserve the right, in our sole discretion without prior notice to you, to add to, or remove from, the list of transactions that would constitute Valid Spend and be eligible for award of Loyalty Points. All determinations made shall be in our sole discretion, and each determination shall be final, conclusive and binding on you, absent manifest error. Furthermore, our records, books and other information shall be conclusive evidence of calculations made by us hereunder.

31.5   Loyalty Points shall be credited to your Club Apparel Loyalty Account periodically. Loyalty Points earned during a month will be shown on your credit card statement. The aggregate of the Loyalty Points earned or redeemed by you and your current available balance can be viewed by you at Club Apparel's Website http://clubapparel.appareluae.com or by calling Club Apparel's contact centre at 800 - Apparel (2772735). In case of any erroneous credit of Loyalty Points, as determined by us in our sole discretion, the erroneous entries shall be reversed. Where you successfully dispute any transaction on the Club Apparel- Dunia Credit Card, the credit of the corresponding Loyalty Points shall be reversed. You are responsible to ensure that the number of Loyalty Points credited to your Club Apparel Loyalty Account is accurate and that you redeem the same during their validity.

Loyalty Points shall be credited to your Club Apparel Loyalty Account periodically and shall be valid for such period as may be notified by Club Apparel from time to time on their website. Unless redeemed during such period, Loyalty Points shall expire.

31.6   Loyalty Points accruing from Valid Spend on a supplementary card shall be credited to the Club Apparel Loyalty Account of the supplementary cardholder.

31.7   We shall from time to time determine the maximum number of Loyalty Points and/or benefits that may be obtained with the Club Apparel-Dunia Credit Card. You shall only be entitled to Loyalty Points and/ or benefits for transactions on the Club Apparel-Dunia Credit Card that are within the assigned credit limit of the Club Apparel - Dunia Credit Card. Transactions exceeding the assigned credit limit of the Club Apparel - Dunia Credit Card shall not be entitled to earn Loyalty Points.

31.8   In addition to any other conditions outlined in these terms and conditions, Loyalty Points shall not be credited to your Club Apparel Loyalty Account and/or existing valid Loyalty Points shall be forfeited by you if (a) your credit card account is not current (i.e. there are past due balances on the credit card account); (b) your credit card account is not in good standing in our sole opinion; (c) there has been a breach by you of any terms or conditions governing the use of the Club Apparel - Dunia Credit Card; (d) your Club Apparel-Dunia Credit Card is cancelled; or (e) any other event occurs, which, in our opinion, should result in the cancellation of the benefit of the Loyalty Points to you. Loyalty Points will not be credited retrospectively to your Club Apparel Loyalty Account.

31.9   Loyalty Points shall be solely redeemable against goods and/or services at Apparel Stores, subject to these terms and conditions and the terms and conditions of the Club Apparel Loyalty Program which can be viewed at Club Apparel's website at http://clubapparel.appareluae.com The Loyalty Points have no monetary value and cannot be exchanged for cash or credit, nor may they be used for the payment of any fees or charges. Loyalty Points are not transferable to or utilizable by any other person including between primary cardholder and supplementary cardholder. Loyalty Points,once redeemed, cannot be reinstated, nor can they be redeemed in conjunction with any other discounts or promotions at Apparel Stores.

31.10   Apparel shall be responsible for the redemption of Loyalty Points, and you will have a sole direct relationship with Apparel for any issues, query or dispute related to the issuance/ redemption/query on Loyalty Points issued/redeemed/used/remaining in your Club Apparel Loyalty Account. dunia takes no responsibility on the Loyalty Points and their usage, and is a mere facilitator providing information of spend on the card during every statement period to Apparel for issuance of Loyalty Points to your Club Apparel Loyalty Account in ratio of the Valid Spend, as per the terms of the Club Apparel-Dunia credit card issued. dunia provides no guarantee and shall have no liability to you or any other person for any failure of Apparel to redeem the Loyalty Points. Further, dunia shall not be responsible for ensuring the redemption of your Loyalty Points at the Apparel Stores, and shall not be liable in case of Apparel's refusal or failure to redeem Loyalty Points for any reason whatsoever. dunia shall not in any way whatsoever be responsible towards you for the Club Apparel Loyalty Program nor the activities and benefits offered by Apparel. dunia shall also not be responsible for the quality of Apparel products, or any claims or damages made by you in respect of the activities and benefits offered by Apparel, which are at all times subject to the terms and conditions determined by Apparel from time to time, and available on their website http://clubapparel.appareluae.com

31.11   We shall not be liable for losses, damages, expenses, claims or any other liability whatsoever, whether direct, indirect, consequential, incidental, special or punitive, sustained by you as a result of the redemption of Loyalty Points or failure to redeem Loyalty Points, possession and/or use of the Loyalty Points, or in any other way arising from membership in, or in connection with, the Club Apparel Loyalty Program, nor shall we be responsible or held liable for any amounts payable by you to any third party arising out of the purchase.

31.12   We shall not be held liable for any defective or damaged goods or merchandise purchased by you from Apparel. Further, we make no representation and provide no warranty whatsoever, whether express or implied, and undertake and assume no liability whatsoever, in respect of the products and/or services availed by you through redemption of the Loyalty Points or the suitability or fitness thereof for any use or purpose. All Loyalty Points and the products and/or services availed by you through redemption of the Loyalty Points shall be accepted by you on an "as is" basis at your own risk and peril.

31.13   The Club Apparel-Dunia Credit Card is intended for your personal use only. Use of the Club Apparel-Dunia Credit Card for commercial or business transactions is not permitted save with our prior written consent. Any such commercial transaction shall not entitle you to earn Loyalty Points. Whether a transaction is a commercial / business or personal transaction shall be determined by us in our sole discretion.

31.14   We and/or Apparel reserve the right to disqualify you from further using participation in the Club Apparel-Dunia Credit Card Program if, in our sole judgment, you have in any way violated these terms and conditions or the Club Apparel Loyalty Program terms and conditions. Suspension and disqualification will lead to forfeiture of all accrued Loyalty Points.

31.15   The fees and charges payable by you in relation to a Club Apparel - Dunia Credit Card shall be in accordance with our schedule of the prevailing fees and charges published periodically which can also be viewed at www.dunia.ae/fees.

31.16   Notwithstanding anything contained herein to the contrary, we shall be entitled, at any time in our sole discretion, without any prior notice and without being liable to you in any manner whatsoever, to terminate the benefits accruing with use of the Club Apparel - Dunia Credit Card, and/or change, vary, modify, add to or delete any of the terms and conditions outlined herein, and/or withdraw and/or revoke any accrued Loyalty Points and/or modify or limit the value of the Loyalty Points and/or the manner of accrual of the Loyalty Points.

31.17   Apparel may vary or change any of the terms and conditions of the Club Apparel Loyalty Program in its sole discretion without prior notice to you.

31.18   In the event of termination or change in terms of the co-branded credit card agreement with Apparel, Dunia reserves the right, and at its sole discretion, to withdraw, cancel, or replace the Club Apparel-Dunia Credit Card with another co-branded card or Dunia credit card as it may deem fit.

31.19   In case of any conflict between these terms and conditions and the terms and conditions of the Club Apparel Loyalty Program, these terms and conditions shall prevail.

1.1   We may offer you investment and insurance products from time to time. In offering you such products we may also offer financial facilities for the purchase of such products if you qualify. As security for such financing we may require a lien, charge or assignment over such products in our favour.

1.2   These investment and insurance products are issued by selected third party fund houses and insurance companies. In making available such investment and insurance products, we do not make any representations or warranties as to the success, suitability, satisfactory results or performance of such products. We therefore take no responsibility, liability or obligation in respect of such products.

1.3   Such investment and insurance products are not guaranteed by us nor insured or guaranteed by any government agency.

1.4   Each investment product and insurance product will have its own Specific Terms & Conditions and you must carefully read and understand such terms and conditions before purchasing the product.

1.5   Some Investment Products will not be offered or made available to certain nationalities as a result of the criteria and the regulations established by each fund house. In particular, certain investment products will not be offered to a "United States Person".

2.   INVESTMENT SERVICES AND PRODUCTS

2.1   We may from time to time make available or offer to you an investment account for the purchase and sale of investment products or investment funds from designated fund houses and issuers specifically selected by us. In making such selection and making available the products and funds, we act only as facilitators and do not give any assurances or representations as to the performance of the products or funds.

2.2   If you wish to open an investment account, the investment account opening form will set out the Specific Terms & Conditions to which the investment account services are subject. We reserve the right to vary all terms and conditions by notice from time to time.

2.3   Monies placed in investment products through an investment account with us are NOT deposits and are not guaranteed by us or any governmental authority.

2.4   Once you appoint us as your investment service agent by opening an investment account, we shall handle all purchases, conversions and redemptions of investment products on your behalf. As your investments service agent we shall establish minimums, limitations, restrictions and charges for the investment products account which we open for you. Please note that other than as stated in the General Terms & Conditions or notified in writing to you, we shall not have any responsibility or obligation to you in respect of the investment products account which we administer for you.

2.5   Before investing in an investment product please request a copy of the information and material which we may have on the product including any prospectus. You must read the material carefully and make sure that it meets your expectations as to your investment goals and the risk level you are prepared to take. Our representatives will discuss the various investment products available through us and provide the material but the investment decisions are made entirely by you.

2.6   You should be aware that investment products (including mutual funds) involve investment risks which include depreciation in value and even loss of the amount invested and we shall not be liable for any such depreciation or loss. You should obtain independent advice and read the prospectus and accompanying literature in respect of the products prior to making such investments. Past performance of an investment fund or product is not an indication of future performance and the value of investments may go up as well as down. There can be no assurance of growth or income. Investment products carry varying degrees of inherent risk and all such products are subject to various economic, political, currency, liquidity and other risks, geographical factors and market forces. You must ensure that the products you choose are appropriate for your investment risk profile and personal circumstances. Investment products are also subject to various fees and charges for entry, management, redemption and cancellation. No loss of funds or investment in such products entitles a customer to any recourse to Dunia, nor may the customer refuse or fail to honour his obligations and liabilities to us, including payment of monies owing in respect of any of the investment or other Products, Services or advances made available.

2.7   Our representatives will be pleased to discuss the performance of various investment products available but we shall not be liable or responsible for the investment decisions made by you or for the performance of the investment products.

2.8   The instructions to purchase or sell investment products shall be in writing or other agreed means, including online instructions where applicable. We shall implement your subscription orders or instructions to purchase securities within a reasonable time after receipt. Purchase orders will only be implemented subject to cleared funds being made available to us. If you do not make cleared funds available we shall delay implementation of orders until we receive cleared funds.

2.9   We shall execute your instructions and investment decisions on a best efforts basis and shall not be liable for any delays or losses caused for any reason whatsoever.

2.10   Investment accounts may be denominated in multiple currencies as applicable to the investments. In executing instructions to purchase or redeem investments in different currencies the resulting foreign exchange transactions will be subject to applicable foreign currency rates and our fees and charges.

2.11   In implementing your investment decisions we may consolidate your instructions with those of other investors and may, if circumstances so require, hold the investments in our name as nominees for all our customers.

2.12   You may instruct us from time to time to sell or redeem some or all of your investments or to convert some of your investments into other investments. Any monies we receive after receiving your investments will be held to your order. The responsibility for collecting redeemed funds or giving other instructions to deal with them rests entirely with you and we shall not pay any interest on the proceeds held for you.

2.13   Our investment products account may require the maintenance of a minimum value of assets under management. If the balance in your account is below the required minimum we reserve the right to charge a fee and/or close the account.

2.14   You will be advised of our fees for the services rendered in respect of your investments account. By opening an investment account you consent to our receiving fees from any fund house where we place funds on behalf of our customers without our being obliged to disclose the fees received or our arrangements with the fund house. You recognize that we or our affiliates, group companies and our sales personnel may earn or receive fees, commissions or compensation from the fund houses.

2.15   Where you give us instructions to purchase or sell any particular investments through your investment account, or to make any inquiries or proposals, we may reimburse ourselves and charge to your account any costs, commissions and/or fees for the same.

2.16   For the purposes of purchasing, selling, converting and redeeming investments you will follow the procedures which we set out from time to time and use the instructions forms which we provide.

2.17   Unless otherwise agreed all instructions must be in writing and as a general rule we shall not accept any verbal, email, or facsimile instructions. However, at your request and on the basis that you hereby fully indemnify us against any improper or fraudulent instructions, errors, defects, or other claims or losses being made or incurred, we may agree to act on verbal or facsimile or email instructions. We reserve the right not to act on any verbal, facsimile or email instructions for any reason. We may at our sole discretion accept telephone instructions. We reserve the right to record telephone and all other communications with customers.

2.18   We shall dispatch to each investment customer a periodic statement of the customer's investment accounts listing all transactions for the statement period and the current status of the account. The customer will notify us of any errors within fourteen (14) days of dispatch, failing which the contents of the statement shall be taken to be accurate and binding.

2.19   The sale and redemption of all the investments will not automatically terminate the investment account and fees and charges will continue to be levied unless the account is properly closed or terminated.

2.20   We reserve the right to terminate an account at any time without assigning any reason.

2.21   Customers who hold investment accounts with us for the purchase and sale of investment products may on application be granted investment finance or other loans or facilities on the security of their investments either directly by us or through a bank or financial institution if they qualify for such facilities.

2.22   We shall be at liberty and are hereby authorized to sell or liquidate any of your investments at any time with or without notice in order to recover or recoup any amounts due and owing to us in relation to the investment account or loan account or for other Products or Services that you have from us.

2.23   You may not assign, transfer or pledge your investment account or the investments standing in credit in the account or any right or title to such account or investments to a third party without our prior written consent. Any pledge or assignment may only be made in our favour.

2.24   Where the investment account is a joint account we are entitled to accept and implement the instructions of any of the account holders. In doing so, all the other account holders will be fully liable for such instructions and will indemnify us against all costs, claims or losses incurred in implementing such instructions. In the case of joint accounts each of the account holders shall be jointly and severally liable to us for any payments or obligations due.

2.25   You are obliged to report and pay any taxes that you may be subject to as a result of factors such as your nationality, place of residence or other income, place of business or the nature of investment gains. You should make payment directly to the relevant authorities.

3.   INSURANCE PRODUCTS

3.1   We may make available to our customers various insurance products issued by well known insurance companies. However, in making available such insurance and insurance products we do not make any representations or warranties as to the suitability, satisfactory cover or performance of such products. We therefore take no responsibility, liability or obligation in respect of such insurance products. Whilst our representatives may be available to discuss the products offered, customers are expected to assess for themselves the suitability, values and benefits of such insurance products to make the necessary decisions and to assume full responsibility for their decisions.

3.2   In making available such insurance products for our customers we simply provide access to such products. We do not issue or administer the insurance policies, insurance cover or any other aspect of the insurance products nor do we handle or process any claims or entitlements under the insurance policies. These responsibilities and obligations are exclusively those of the insurance companies issuing the insurance products.

3.3   We may, from time to time, change the insurer underwriting the Insurance Product (s) at our sole discretion.

3.4   You will pay our fees (if any and as disclosed) for the insurance services rendered to you. You recognize that we or our affiliates, group companies and our sales personnel may earn or receive fees, commissions or compensation from the insurance companies providing the products.