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DUNIA FINANCE LLC
("DUNIA")

 

DUNIA GENERAL TERMS & CONDITIONS

 

PART I : INTRODUCTION AND OVERVIEW

1. AN IMPORTANT NOTE TO ALL OUR CUSTOMERS:

All of dunia’s financial products and services are offered subject to the various terms & conditions of general application set out in this document (collectively calledthe “General Terms & Conditions”)which you as our customer are required to read and accept before applying for or accepting any products or services offered.

When you sign a customer registration form or apply for, accept or use any of dunia’s financial products and services you will be confirming that you have read, understood and accepted the General Terms & Conditions. If you do not understand any part of the General Terms & Conditions or require any explanation you must contact our customer service representatives and discuss the matter with them. Please ensure to completely fill in all relevant parts of the application forms without exceptions. Please do not sign blank or incomplete application forms, as dunia will not be held liable for any incomplete/incorrect/inaccurate information in the application form.

Further terms and conditions may be set out in the relevant application form. If we decide to make a financial product or service available to you, we shall issue you with a letter or other notification (“the confirmation letter”) which may contain additional terms and conditions specifically applicable to the product or the service (the “Specific Terms & Conditions”), such as the period of the product availability, conditions for the product or services, interest payable, rates and charges. The Specific Terms & Conditions in the application form and in the confirmation letter will be supplemental to and, if inconsistent, will prevail over the General Terms & Conditions set out in this document.

From time to time we shall also introduce new products and new services, which may include online products and services. These products and services will in most cases be subject to Specific Terms & Conditions. In case of inconsistency these Specific Terms & Conditions will prevail over the General Terms & Conditions. Both the General Terms & Conditions and the Specific Terms & Conditions are available on www.dunia.ae (“the Website”). You are expected to refer to the Website for the latest terms and conditions. You are also expected to have read the disclaimer and privacy policy made available on the Website prior to your usage of the Website.

We reserve the right to vary or amend the General Terms and Condition, and the Specific Terms & Conditions applicable for individual products and services, by giving not less than fourteen (14) days written notice to our customers. However, in the case of our interest rates, fees and charges at least 30 day prior notice will be given.

The variation or amendment will take effect and be binding on all customers notwithstanding any non-receipt of notice by one or more customers for any reason whatsoever.

Where changes are made to the interest rates, fees or charges, a new schedule of fees and charges will be issued and made available upon request.

Please note that your continued use or retention of our products or services (i) after notice of change(s) has been given or (ii) upon an update of the Website, will constitute an acceptance of such changes.

These General Terms & Conditions apply to all products and services provided or applied for, as well as any future products and services which may be made available to you.

2. OUR FINANCIAL PRODUCTS

(“THE PRODUCTS”)

2.1 LOAN PRODUCTS

Subject always to:

(i) having obtained all regulatory approvals;

(ii) our discretion; and

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

we shall make available various types of loan products and services to you if you meet the qualifying criteria. As previously stated, each product or service when designed and offered to customers may be subject to specific provisions in addition to the General Terms & Conditions. The following is a brief description of the Products and Services, beginning with loans, and is by no means exhaustive.

(a) Personal Loans & Salary Transfer Loans

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.

(b) Vehicle Loan

This Loan is to finance the purchase of a new or used vehicle and the principal security will be the vehicle itself.

(c) Purchase Finance

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.

(d) Mortgages

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.

(e) Credit Card Loan

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

(f) Flexi Loan/Revolving Credit line

The Flexi Loan/ 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.

(g) Loan Against Property

These are loans to finance your personal acquisitions or meet major expenses. The amounts advanced will be based on your income and secured by a mortgage over property.

(h) Other Loans

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

(a) Credit Cards

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.

(b) Credit Card Balance Transfer

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

(a) We shall provide access to investment products from selected fund houses who will take the sole and complete responsibility for such products. We shall act solely as facilitators and take care to deal only with well known financial institutions. However investment products are susceptible to fluctuations in value and no assurances can be given that the products will generate gains or be profitable. We therefore accept no responsibility, liability or obligation in respect of such investment products.

(b) Investment Finance

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

We shall make available to you as our customer various insurance products issued by reputable insurance companies. In doing so we act simply as facilitators and therefore take no responsibility, liability or obligation in respect of such insurance products. You are expected to assess the suitability, values and benefits of such insurance products before purchasing them.

2.5 PAYROLL CARD

A card issued in alliance with leading associations (such as MasterCard International Inc. or Visa Inc.) to the employees (“Employees”) of our customers (“Employers”) for whom we act as agent/bank pursuant to Ministerial Decree No. 788 of 2009 on Protection of Wages, as amended and includes all successor legislation on this issue (“WPS”). The card will allow the Employees to withdraw their salary in accordance with the guidelines and rules of the WPS. Please note that every Payroll Card issued will also be subject to the terms and conditions of the card association as amended from time to time, in addition to these General Terms and Conditions and the various specific Terms and Conditions as applicable.

3. OUR FINANCIAL SERVICES

(“THE SERVICES”)

The financial services we provide will include the following:

3.1 BILL PAYMENTS

This is a service by which you can pay your utilities bills or any other dues.

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.

3.7 TRANSFERS

This is a service by which you can transfer funds from your dunia Credit Card to any other dunia Credit Card or from your bank account with any bank to any dunia Credit Card.

3.8 FAMILY TRANSFERS

This is a service by which you can immediately transfer funds to a family member within or outside the UAE using the dunia Family Card. Please refer to Clause 31, Part V for more details.

3.9 MOBILE TELEPHONE SERVICE

Subject to security protocols being strictly followed, we may from time to time facilitate or make available our Products and Services through mobile telephone services such as short messaging services and WhatsApp. These Mobile Telephone Services will be availed of strictly at your own risk. dunia accepts no liability for any loss or damage howsoever caused or arising out of or in connection with the provision of such services. By subscribing to our Mobile Telephone Services, you acknowledge that providing instructions via short messaging service or WhatsApp is not a secure means of communication and you accept the risks associated with transmitting information using such means. You agree to indemnify dunia against any loss, liability or damage suffered by it on account of providing these services and facilities to you. Your instructions will be implemented after they have been subjected to our internal verification processes. You further agree that by subscription to our mobile services you shall be consenting to us obtaining information concerning you and/or your shareholders, partners, directors and/or beneficial owners (as applicable) from credit bureaus and other persons within and outside the U.A.E. without further consent from or notification to you.

3.10 QWIK SERVICES

You may avail of dunia Qwik Services as set out below for a fee, namely the duniaQwik Subscription Fee. Details of the applicable fees and charges are set out in the Schedule of Fees and Charges available at www.dunia.ae/fees. In order to avail of dunia Qwik Services you must be a dunia account holder and have accepted the dunia terms and conditions. The fee will be debited from your dunia Credit Card and/or added to your monthly loan installment. If you choose to subscribe for duniaQwik services through your dunia Credit Card as well as your dunia loan, you would benefit from a discount for the tenor of the loan and also be eligible for a higher discount rate on the card.

(a) duniaqwikCash

duniaQwikCash is a service by which you can transfer money and make payments through the convenience of providing instructions through our Mobile Telephone Services or a phone call. Please refer to Part V Clause 26.5 of these terms and conditions.

(b) duniaQwikConcierge

duniaQwikConcierge is an online portal that will make available to you a listing of merchants and products, through a third party service provider (an affiliate of dunia). Please refer to Part VII Clause 4 (Online Services) of these General Terms and Conditions read with the specific terms and conditions available at www.duniaQwikConcierge.ae for details on the terms of usage.

(c) duniaQwikBuy

duniaQwikBuy is a web-based portal allowing eligible merchants to make available their products and services to you. In making duniaQwikBuy available to you, dunia is giving you the opportunity to benefit from discounts, promotions and deals offered by eligible merchants. Please refer to Part VII Clause 4 (Online Services) of these General Terms and Conditions read with the specific terms and conditions available at www.duniaQwikBuy.ae for details on the terms of usage.

3.11 duniaApps

duniaApps is a type of application software designed to run on a mobile device such as a smart phone or tablet computer to provide you a convenient means to transact on the move with the ability to utilise multiple services/functions similar to online services including but not limited to viewing account statements, transferring funds, inquiring about credit card and/or loan account balance(s), requesting for increase in credit limits, applying for a Product, making payments towards utility bills amongst others. Please refer to Part VII clause 5 of these General Terms and Conditions for the specific terms and conditions of usage.

3.12 duniaAppsWorld

duniaAppsworld is an online portal that will make available to you various applications which are downloadable and provide you with convenient access to the duniaApps as well as third party applications. Please refer to Part VII clause 5 of these General Terms and Conditions for more specific terms and conditions of usage.

3.13 duniaSME Services

We shall make available to you as our customer, various business support services including but not limited to accounting, payroll and HR, marketing and training, technology support, and website development through reputable third parties. In doing so we simply act as facilitators and therefore take no responsibility, liability or obligation in respect of the provision of such services. Please refer to the specific terms and conditions available at www.duniasme.ae for details on the services.

3.14 dunia Ring of Confidence

dunia Credit Shield, dunia Credit Shield Plus, dunia Credit Life and dunia Credit Life Plus are products offered by Dunia Finance LLC (dunia) which provides the customer with a Ring of Confidence through a range of benefits conferring peace of mind with priority processing of requests, access to relationship managers, discounts on various dunia products and services and protection benefits including insurance on your outstanding balance against unforeseen and untimely death (due to any sickness or accident) or Permanent Total Disability or Critical Illness or Involuntary Loss of Employment, replacement of income to take care of expenses and compensation for loss of income upon the occurrence of permanent total disability or partial total disability due to an accident. For specific terms and conditions, please refer to Part VII clause 11 hereof and www.dunia.ae.

4. THE CUSTOMER RELATIONSHIP

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:

(a) these General Terms & Conditions;

(b) additional Specific Terms & Conditions for the products or services for which you have applied; and

(c) other relevant documentation and information literature.

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.

PART II: TERMS AND CONDITIONS OF GENERAL APPLICATION

1. APPLICABILITY OF THE GENERAL TERMS & CONDITIONS & THE SPECIFIC TERMS & CONDITIONS & VARIATIONS THEREOF

All loan and financial products (the “Products” or the “Product” in singular) and all financial services (the “Services”) are offered or made available by us to you as our customer on the basis of and subject to the General Terms & Conditions applicable from time to time. The following terms and conditions constitute part of the General Terms & Conditions and are of general application governing all Products and Services offered or made available by us.

In addition to the account opening form and the General Terms & Conditions, the application form by which you may be required to apply for a Product or Service may contain Specific Terms & Conditions for the Product or Service as may any confirmation letter issued to you. These will also constitute part of the contractually binding agreement between us.

We reserve the right to vary or amend the General Terms & Conditions and all applicable other terms and conditions, including the various Specific Terms & Conditions, by giving you not less than fourteen (14) days’ written notice (except that in the case of interest rates, fees and charges the provisions below shall apply). However, any accidental omission to give notice or other non-receipt of such notice will not affect the validity of the variations or amendments. The continued use of our Products or Services after notice has been given will be deemed to constitute an acceptance of such variations.

2. INTEREST, FEES AND CHARGES - VARIATIONS

Our schedule of the prevailing interest rates, fees and charges will be published periodically and a current copy will be issued to you upon opening an account with us. Copies are also available from our customer service representatives on request.

We shall be entitled at our discretion to vary from time to time all our interest rates, fees and charges applicable by giving at least 30 day prior notice. The variations will apply as of the dates specified in the notice of change. Where variations are made as to interest rates, fees or charges, a new schedule of fees and charges will be published on the Website and made available upon request.

3. TRANSACTION LIMITS

We may from time to time impose transaction limits (such as minimum or maximum transaction amounts) or vary the frequency of permitted usage in connection with our Products and Services.

4. DOCUMENTATION & EXTENSION OF FACILITIES

We may from time to time offer or extend our various facilities, Products and Services to you relying on the existing documentation, including the dunia General Terms & Conditions read with the relevant specific terms and conditions, which shall be applicable to the new Product or Service.

We may at our discretion request you to submit a fresh application form along with supporting documents in order to process your application for a new/additional Product(s) and/or Service(s).

Please note that all applications and other documentation received from you will remain our property whether or not we make available the requested Products or Services.

5. UPDATED CUSTOMER INFORMATION

You must notify us promptly of any change to your personal details including, but not limited to, change in name, residential address, place of work, bank account details, as mentioned in the account opening form. You must also provide us with a copy of your passport, visa, trade license (where applicable) and a copy of all renewals thereof promptly upon renewal thereof. Any change in your legal status and/or shareholding must be promptly notified and supporting documentary proof, satisfactory to dunia, must be promptly provided. If your tax status changes for purposes of US Federal Income Tax purposes or you become a US citizen or a resident, you should notify dunia within thirty (30) days from the date of such change. All documents must be sent only to documents@dunia.ae. In case of non-submission of the above mentioned renewed documentation within a maximum period of sixty (60) days from the date on which the documents are required to be renewed, a fee may be imposed upon you in accordance with the schedule of fees and charges applicable at the time of levy of the fee. All fees are subject to the regulations of the Central Bank of the UAE.

6. CUSTOMER CONFIDENTIALITY

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:

(a) our branches, holding companies, subsidiaries, representatives, affiliates and agents;

(b) credit verification and credit reporting agencies;

(c) debt collection agencies engaged in respect of your debts and accounts.

(d) lawyers, auditors and other professional advisors or consultants engaged by us, any data processing and statistical risk analysis purposes, customer relationships, general advice or otherwise in the ordinary course of our business;

(e) any judicial, regulatory , police, or governmental authority which has jurisdiction; and

(f) any third party to whom we shall have contracted or outsourced any of our services or administrative functions provided that we shall obtain an appropriate confidentiality undertaking (as determined by us) from such party.

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.

7. NON-SOLICITATION & NON DISTURBANCE

We may provide information about you to our branches and third parties for marketing campaigns and solicitation for products. However, if you have expressly notified us in writing that you do not wish to be subject to any marketing approaches we shall make every effort to ensure that you are not contacted or solicited in the course of our marketing campaigns.

8. CUSTOMER REFERENCES

References provided by you in the account opening application forms and beneficiary details provided to avail of the Qwik Services may be contacted to validate the information provided by you as well as for marketing campaigns and solicitation for products. However, if they expressly notify us in writing or through our telephone center that they do not wish to be subject to any marketing approaches, we shall make every effort to ensure that they are not contacted or solicited in the course of our marketing campaigns.

9. SUSPENSION AND BLOCKING OF ACCOUNTS

We reserve the right to suspend or block, or apply to the appropriate regulatory authority (if required) to suspend or block, any funds in an account if we:

(a) believe in good faith that the funds have been obtained through unlawful means or transactions;

(b) believe in good faith that any suspicious or money laundering or other illegal transactions may affect the funds;

(c) are advised that the funds are or may be subject to any litigation or credible claim;

(d) are so instructed by a regulatory, governmental, judicial or police authority; or

(e) receive information of the customer’s death.

10. TERMINATION

Our relationship with you as a customer may, subject as below, be terminated for any of the following reasons:

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

(b) at the option of one party in the event of breach by the other party of the applicable terms and conditions or agreements between us;

(c) by order or direction of any regulatory, judicial or governmental authority;

(d) 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;

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

(f) failure to meet the obligatory repayment terms as agreed or as advised for the provision of any Products or Services;

(g) death or legal disability on your part;

(h) any activity, which in our view, indicates intent to misuse our facilities, services or products or to defraud us or any related party; and

(i) termination by us at any time at our discretion without having to give any reason therefor.

In the event of termination you (or, as the case may be, your estate) will immediately settle and pay to us any monies due and owing to us and discharge all your liabilities and obligations in respect of any of our Products and /or Services or otherwise due to us, despite any prior or other agreement that may exist between us as regards such Products and /or Services.

11. EVENTS OF DEFAULT

The loan elapses and all the installments, interests any other fees and expenses become due and payable immediately without having to give any notification or any court ruling and without prejudice to any of our other rights according to dunia General Terms & Conditions or in accordance with the law in the event of occurrence of any of the listed below events:

(a) If you are terminated for any reason.

(b) If your monthly salary or any part of thereof is transferred to any other body without our prior written approval.

(c) If you violated any of your undertakings or obligations arising from dunia General Terms & Conditions.

(d) If you failed to pay three consecutive installments or six non-consecutive installments of the monthly installments without our approval.

(e) If, at any time, the information or documents you submitted to us are incorrect or any of the acknowledgement or undertakings you submitted provided for in dunia General Terms & Conditions is invalid.

(f) If we notice that there are grounds which could lead to your inability and/or any of your guarantors, as permissible under Central Bank’s prevailing regulations, to fulfill your obligations towards us.

(g) Your death or your leaving the country permanently.

12. DEMAND FOR PAYMENT AND ENFORCEMENT

Upon the occurrence of an Event of Default or in the event of your death or disability, we shall be entitled to demand immediate repayment of all Loans and other monies you owe us including principal, accrued interest, charges and fees, to the discharge of all your obligations to us. Failing such immediate payment and discharge we shall be entitled to enforce and liquidate any security or collateral which you may have provided to us. The proceeds received shall be applied towards defraying:

(i) costs;

(ii) fees and charges;

(iii) interest accrued; and

(iv) principal amounts outstanding

in the order set out above. Should the relevant Event of Default be rectified by you to our satisfaction within such time as may be acceptable to us, we may in our sole discretion, withdraw any demand for repayment and revert to the original interest rate, fees and charges and reinstate your loan.

13. APPLICATION OF FUNDS

Payments made by you in respect of any Products or Services provided, your credit card outstanding, fees and charges due or any other outstanding amounts due shall be applied in or towards payment of any interest charges, late payment charges, handling charges, principal outstanding, cash advance fees, annual fees, balance transfers, legal costs and any other outstanding amounts and balances.

14. LATE PAYMENT CHARGES

Subject to Central Bank regulations, if you do not make a required payment on the due date we shall have the right, in addition to any other remedies which we may have, to levy applicable late payment charges.

15. 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.

16. NOTICES AND COMMUNICATIONS

16.1 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.

16.2 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) and WhatsApp (“the Facilities”). In such cases we shall notify you of the availability of the Facilities and the procedures applicable. We may require you to enter into separate agreements with specific terms and conditions, for these Facilities which will supplement and, in case of inconsistency, prevail over the General Terms & Conditions. Communicating through such Facilities 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 Facilities 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. dunia shall not be liable in contract, tort or otherwise for any direct, indirect or consequential loss or damage sustained by you by any direct or indirect use of or reliance on the electronic communication, orders or messages whether with or without the utilisation of any security measures, including but not limited to any loss or damage resulting as a consequence of any defects, delays, interruptions, errors, inaccuracies or failures in the various communications and dunia specifically excludes the same to the fullest extent permitted by law even if dunia shall have been advised in advance of the possibility of such damages.

16.3 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”) or mobile telephone including but not limited to short messaging services and WhatsApp, then pending any specific agreement the following shall apply:

(i) Instructions or other communications from you by telephone, Mobile Telephone Service or fax shall be valid and binding on you and we may at our discretion act on such instructions and dunia shall not be obliged to verify or make further inquiry into the identity of the sender, or the message integrity, of any communications, orders or messages. We have the right at all times to decline to accept any telephone, Mobile Telephone Service, or fax instructions without giving any reason.

(ii) You will abide by and observe any security protocol that we establish for telephone, Mobile Telephone Services and/or fax communications. In particular you will keep confidential and be responsible for passwords and other identification information and will not permit any other person to use the telephone, Mobile Telephone Services or fax communications services on your behalf.

(iii) 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.

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

16.5 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. You further confirm that the data and information/instruction so stored may be relied upon by dunia, made known to any person who may reasonably require the same and/or produced in evidence in any proceedings or otherwise.

16.6 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.

17. PAYMENTS

17.1 You may pay amounts due to us on Products and Services, late charges, other charges, loan repayments, credit card payments, or other payments due, by personal cheques, cash payments, transfers through our branches, ATMs or any other means acceptable to us. We may, at our sole discretion, levy charges for such payments made through sources other than dunia branches or ATMs. You agree to pay all applicable fees or charges for such payments, as may be decided by us from time to time and as per Central Bank of UAE’s guidelines, if applicable.

17.2 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.

17.3 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.

17.4 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.

17.5 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 provision 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.

17.6 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.

17.7 In the event you pay cash to dunia to settle your next loan installment dunia will endeavour 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.

18. ADJUSTMENTS

Where we have erroneously credited or debited your account or where a cheque deposited and credited has been dishonoured, we reserve the right to make the appropriate reversals without seeking your consent.

19. JOINT ACCOUNTS

19.1 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.

19.2 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.

19.3 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.

20. 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.

21. 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.

22. WAIVER

We may at our discretion waive compliance with any of the General Terms & Conditions or other specific 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.

23. OUR RIGHTS AND LIABILITIES

23.1 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.

23.2 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.

24. EXCLUSIONS AND GENERAL INDEMNITY

24.1 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.

24.2 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.

24.3 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.

25. COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS

25.1 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.

25.2 Every Product and/or Service advanced or made available to you is on the basis of your representation, warranty and assurance that all information provided by you is true and accurate in all respects, at all times and that you will ensure that any amount lent, contributed or otherwise made available by dunia to you, or any other amount resulting from our relationship will not be lent, contributed or made available to any entity or individual (whether or not related to you) for the purpose of financing the activities of any entity or individual or for the benefit of any country, state entity, vessel or individual currently subject to any UN or other applicable international sanctions including the US sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC). For this purpose, you authorize us to make such enquiries as we deem fit.

26. DISCLOSURE OF INFORMATION

You are hereby notified that dunia may:

(a) disclose and furnish any information provided by you to us concerning you and/or your shareholders, partners, directors and/or beneficial owners (as applicable) and information concerning your accounts and relationship with dunia (“Information”) to; and

(b) obtain and receive any information concerning you and/or your shareholders, partners, directors and/or beneficial owners (as applicable) (“Received Information”) from our subsidiaries, affiliates, associates, branches, service providers, assignees, agents, insurers, third party contractors, third party financial institutions, credit reporting agencies, credit bureaus, debt collection agencies and other persons within and outside the U.A.E. to enable dunia to evaluate your application, review your performance, perform its obligations under these terms and conditions or under any other agreement to which dunia is a party or may become a party, to enforce your obligations hereunder or to provide or procure the provision of products and services to you or for other reasons deemed fit by dunia without further consent from or notification to you.

26.1 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.

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

26.3 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.

26.4 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 hereunder.

26.5 You hereby acknowledge and agree that dunia is required to comply with UAE laws and regulations relating to disclosure under the Foreign Account Tax Compliance Act 2010 of the United States of America (“FATCA”) and/or the Common Reporting Standards under the Organisation for Economic Co-operation and Development’s Standard for the Automatic Exchange of Financial Account Information in Tax Matters (the “CRS”) or any other laws and/or regulations (local or otherwise) adopted to implement FATCA and/or the CRS as well as any other pertinent future regulation. Under such laws and regulations, we will collect, submit and disclose information to the UAE Central Bank and/or other regulatory authorities concerning you and relating to any deposits, funds and/or investment(s). You agree to any such disclosure/ submission without further recourse or notice to you.

27. GOVERNING LAW AND DISPUTE RESOLUTION

27.1 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.

27.2 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.

28. NO WARRANTY

Without prejudice to anything contained in these Terms & Conditions, dunia makes no express or implied warranty with respect to any of the Products and/or Services provided hereunder including, without limitation, any warranties of non-infringement of third party rights, title, marketability, satisfactory quality, fitness for a particular purpose.

PART III: TERMS & CONDITIONS FOR ALL LOAN PRODUCTS

If we determine that you qualify and decide to make available one or more loan Products (“Loans”) to you the following terms and conditions pertaining to Loans Products and forming part of these General Terms & Conditions will apply.

1. We are not under any obligation to make available any Loans to you, but may do so at our sole discretion.

2. Should we decide to make a Loan available to you we shall issue you with a confirmation letter or other written notification (“the confirmation letter”) which may contain the Specific Terms & Conditions applicable to the Loan, such as the period, availability, conditions, interest payable, rates and charges, fees, and other terms. The Specific Terms & Conditions on the application form or the confirmation letter will be supplemental to and, in case of inconsistency, prevail over the General Terms & Conditions set out in this document. Applicable rates and charges will also be set out in our schedule of rates and charges from time to time.

3. If your loan is approved, we may choose to transfer the approved loan amount, by way of electronic funds transfer, directly to your nominated account (the “Account”) in the financial institution that you have identified through the UAE Direct Debit System (UAEDDS) Authority form that you have provided to dunia (please refer to Part IX of this document). You agree to pay all applicable fees or charges, as we may decide to levy from time to time, with respect to such transfer of the approved loan amount into your
account.

4. We may at any time before approval cancel our commitment or reduce or vary the amount of the Loan and the terms thereof without being obliged to provide any reason.

5. You will repay the Loan in the manner and at the times set out in the confirmation letter. You hereby authorize us to set off and deduct any amount due under the Loan from any money or credit which we hold for you or to your order and which we may control.

6. We reserve the right to recall or demand payment of any Loan at any time notwithstanding any terms previously agreed in the confirmation letter or otherwise.

7. For the purposes of advancing a Loan and facilitating the repayment and servicing of such Loan we may require you and assist you to open a bank account with an approved correspondent bank or banks. For this purpose, you will be required to complete and sign the relevant application forms, notices and authorizations and provide the required personal or corporate documentation. However, we shall, not take any responsibility or liability for the correspondent bank and its services and in particular are not liable if the bank (i) ceases to conduct banking business or becomes insolvent; (ii) causes any inconvenience, loss or damage; or (iii) is in breach of its obligations or undertakings to you. Prior to closing any such bank account, you will notify us in writing.

8. Upon the occurrence of an Event of Default (see above) or in the event of your death or disability, we shall be entitled to (a) charge default interest on all amounts outstanding, and/or (b) demand immediate payment of all Loans and other monies you owe us including accrued interest, charges and fees to the discharge of all your obligations to us. We shall also be entitled to enforce and liquidate any security or collateral which you may have provided to us. The proceeds which we receive by liquidating such security will be applied in the order of priority set out for Loan repayments established by us from time to time in accordance with the applicable regulations.

9. Any payment due must be credited to the relevant account on or prior to the due date. Subject to Central Bank regulations, we shall otherwise have the right to charge late fees in respect of the amount which should have been paid. The late fees will be stipulated by us from time to time. This will be in addition to any other remedies which we may have.

10. You may pay in full any Loan before its due date, subject to payment of applicable fees and charges for prepayment. We may stipulate a minimum time period after which prepayment is permissible and we may stipulate a minimum amount for pre-payment.

11. We may without your consent or notice to you transfer, sell, assign, discount, pledge, charge or utilize as security the outstanding indebtedness on all our Loans to you. We may also assign or transfer to third parties some or all our rights and obligations in respect of such Loans.

12. All notices and statements of accounts which we send to you will be deemed to be correct and accurate unless you object in writing within fourteen (14) days from the date of the notice or statement.

13. Every Loan advanced or made available to you is on the basis of your representation, warranty and assurance that all information provided by you is true and accurate in all respects and at all times. For this purpose you authorize us to make such enquiries as we think fit.

14. We reserve the right to require you to provide such security or additional security as we may in at our discretion require as a condition for a Loan or for the continuation of a Loan which we would otherwise be entitled to recall. We may also require post-dated or undated cheques as additional security for payments due. You hereby authorize dunia to complete the missing details if any on the cheques in accordance with the approved credit terms.

15. Should we in our discretion determine that the value of the security in respect of a Loan or any amount due and payable to us is inadequate or has lost all or a substantial part of its value we shall be entitled to demand such replacement or additional security as we may decide to be necessary.

16. We will calculate interest for personal and vehicle loans on a reducing balance basis and average daily outstanding balances for credit card loans. Interest will be calculated on the basis of a 365 day year. For loans which are repayable in monthly installments we may take post dated checks for the repayment installments. For personal and vehicle loans, interest will be calculated on the outstanding principal amount at the beginning of the month. Accordingly, any excess amount recovered from the post dated checks will be credited to your account and a shortfall shall be debited to your account and you will be liable to pay the shortfall immediately.

17. We reserve the right to vary the rate of interest, fees or charges payable on any outstanding Loan from time to time upon giving you reasonable prior written notice.

18. We may at our sole discretion permit you to reschedule or restructure any outstanding Loans, including extending any applicable repayment term provided that you meet our eligibility criteria, documentation requirements and applicable fees or charges.

19. Acceptance of a part payment or a waiver or relaxation in respect of any applicable terms and conditions shall not prejudice or be interpreted as a waiver of our rights to require full payment or enforce such terms and conditions at a future date.

20. If a Loan is granted to more than one borrower, all the borrowers shall be jointly and severally liable in respect of the Loan. Accordingly, any failure to pay or the death of a borrower shall render all the borrowers liable for all the amounts payable to dunia in respect of such Loan.

21. All costs and expenses including legal expenses incurred by us in recovering the amount due and owing to us in respect of any Loan or enforcing the security for the Loan shall be borne by you and debited to your account.

22. We will not issue a clearance letter or release our security even if a Loan is fully repaid if you or a co-borrower are delinquent on other Loans or Products.

PART IV: SPECIFIC LOAN PRODUCTS

The following are the principal types of Loans offered by us at our discretion and subject to the various terms and conditions set out below. They are also subject to various applicable Specific Terms & Conditions.

1. PERSONAL LOAN AND SALARY TRANSFER LOANS

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

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

(b) provision of such security over your end of service and gratuity benefits as we may require;

(c) your ensuring that there is no charge or assignment or transfer of your salary, end of services benefits, gratuity or other income or account to any other party without our written approval; and

(d) such other factors or conditions as we shall decide are applicable.

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:

(a) register a first chattel mortgage or other required security over the vehicle in our favour;

(b) not permit any third party to have any rights, charges, liens or encumbrances over the vehicle;

(c) maintain and keep the vehicle in good repair and condition;

(d) maintain adequate insurance cover on the vehicle at all times for its full replacement value with an insurance company acceptable to us. We must be named as the first loss payee on the insurance and will be entitled to the benefits of any proceeds from the insurance policy. If you fail to properly insure the vehicle then we may (but are not obliged to) insure the vehicle with an insurance company at your cost. The original insurance policy and certificate should be placed with us.

(e) immediately notify us of any accident affecting the vehicle;

(f) ensure that monies received from the insurance are applied towards repairing the vehicle and that where there is a total loss all the monies are paid to us. We shall pay to you any credit balance net of the amount due from you and you will pay any debit balance to us. In this regard you will issue the appropriate irrevocable written instructions to the insurance company, copied to us.

(g) keep the vehicle registered at our election in your name with our mortgage noted and not transfer any rights of ownership to any person;

(h) not take the vehicle out of the United Arab Emirates without our prior written consent which will be wholly at our discretion and subject to the applicable fee.

(i) use the vehicle only for its normal intended use;

(j) allow our representative to enter at any time onto any premises or location where the vehicle is situated so that the vehicle may be inspected, repaired or removed if necessary, all at your expense;

(k) pay and discharge all fines and other penalties in respect of the vehicle;

(l) notify us of any change in your physical address or the regular location of the vehicle.

(m) comply with any instructions given by us in respect of the vehicle including executing any documents, deeds or instrument or doing such things as we may consider necessary or desirable in respect of our security over the vehicle; and

(n) comply with all laws and regulations of the United Arab Emirates regarding the ownership and use of the vehicle.

2.4 In addition to the Events of Default set out above in these General Terms & Conditions, the following shall also be Events of Default in the case of Vehicle Loans:

(a) if our security over the vehicle lapses or ceases to be valid or is likely in our view to become invalid;

(b) if the vehicle is so damaged that it is a total loss or is completely unusable;

(c) if the mortgage over the vehicle registered in our favour is or may in our view become invalid or unenforceable;

(d) if the vehicle is seized or if there is a threat to seize the vehicle; or

(e) if you default in respect of another loan with us or fail to make any payment due to us in respect of any other Products or Services.

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.

2.6 We may at our discretion and at any time require you to provide additional security for the Vehicle Loan of a nature specified by or acceptable to us. Should you fail to provide such additional security we shall be at liberty to demand the immediate repayment of the amount outstanding.

2.7 Once you repay the Vehicle Loan and all amounts payable to us (whether in respect of the vehicle or any other Product or Service) we shall at your cost and expense execute such documents as are required to release the vehicle from the mortgage or other security. We reserve the right to decline to do this if you, a co-borrower or a guarantor is delinquent on other Loans or payments to us.

2.8 All costs incurred in enforcing the Vehicle Loan, including but not limited to repossession and resale of the Vehicle, will be borne by and recovered from you.

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”).

3.2 If you wish to purchase such goods and services using our Purchase Finance we shall pay the Supplier directly on your behalf and book a loan to you in the amount of the payment.

3.3 Title to the goods and services shall be vested with you whilst you repay in full the Purchase Finance together with all interest and other charges and fees due to us. During such time you will not rent, sell, mortgage or transfer or seek to transfer any interest in the goods or services to any third party.

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.

3.5 You acknowledge that before purchasing any goods or services from a Supplier you will inspect and examine the goods and will satisfy yourself as to the suitability and quality of such goods or services. We make no representations and give no assurances as to such goods or services.

3.6 Any complaint as to the goods or services must be made directly to the Supplier and we shall not accept any responsibility for the goods or services provided. You may not return any goods to us or otherwise seek to claim any credit against the Purchase Finance in respect of the use or non-use of the goods or services by you.

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.

4.2 Any mortgage financing advance made available to you will be released and paid only when the various property registrations have been effected and all requisite documentation is in place. We may at our sole discretion advance funds from the Mortgage Loan prior to the mortgage being in place or registered, subject to such terms and conditions as we may require.

4.3 In addition to interest and other applicable fees and charges being payable in respect of the mortgage amount, you will pay all costs and expenses incurred by us in facilitating the mortgage finance through the third party mortgage providers.

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.

4.5 Neither we nor the third party mortgage provider shall be liable or responsible for any construction or any other defect or delay, failure to obtain possession or failure to enjoy the property itself, for any reason whatsoever. It is hereby acknowledged that we have not and will not make any representation to you as to the condition, fitness or quality of the property. Any complaint as to the mortgage property should be addressed to the developer or seller, copied to the mortgage provider.

5. FLEXI LOAN / REVOLVING CREDIT FACILIITIES

5.1 We may offer you a Flexi Loan Facility / Revolving Credit Line. 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 in the following section includes reference to revolving credit facilities.

5.2 Any approval of this Flexi Loan will be at our discretion. You will be notified the limits of the Flexi Loan (“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 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:

(a) Cash advance fee

(b) Late payment fee

(c) Overlimit fee

(d) Cheque bounce fee

(e) Stop all cheques fee

(f) Insurance charges if any

(g) Billed line usage

(h) Unbilled line usage

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

(a) Principal and charges outstanding

(b) Advance fees and interest which have been billed prior to write off

(c) Insurance charges or fees which have been billed prior to write off

(d) Interest on amounts outstanding at the applicable rate on an ongoing basis till settlement date of all outstanding amounts; and late fees and over limit fees

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, 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 IIf 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 on the card and including 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.

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

Please refer to the Section entitled “Credit Cards”.

7. INVESTMENT FINANCE

See below in the Section entitled “Investment Services”.

8. LOAN AGAINST PROPERTY

We may offer you a Loan against Property as per the terms and conditions appearing below.

8.1 Structure of the facility: To make a Loan available to you we shall issue you with a confirmation letter or other written notification (“the offer letter”) which shall contain the Specific Terms and Conditions applicable to the Loan, including but not limited to the period, availability, conditions, interest payable, rates, charges and fees.

8.2 The Loan is conditional upon the following:

(a) The property which secures the Loan (the “Property”) and the mortgage is required to be registered with the Dubai Land Department or any other authority as may be applicable. You are also required to pay all costs and fees (including but not limited to registration fees) in connection with the registration of the Property and the mortgage. You shall deliver to us the original title deed and mortgage deed for the Property.

(b) A valuation of the Property being carried out by a valuer acceptable to dunia confirming that the open market value of the Property is not less than the Loan amount.

(c) Your undertaking that:

(i) You will not permit any third party to have any rights, charges, liens, or encumbrances

(ii) You will not make any structural changes to the Property without our prior written consent or remove any fixtures or fittings from the Property which may reduce its value unless you replace them with fixtures or fittings of at least equal value.

(iii) You will not make any change to the state of occupancy of the Property, the tenancy of the Property or the use of the Property without our prior written consent.

(iv) You will not take any action, or permit any action to be taken, which may have a material adverse effect on the value of the Property.

(v) You shall pay and discharge all fees, bills and taxes linked to the Property.

(vi) You shall comply with all rules and regulations regarding the use of the Property.

(vii) You agree to comply with all the provisions of (i) Law No. 14 of (2008) concerning mortgages applicable to the Emirate of Dubai (as amended from time to time) (the “2008 Law”) and (ii) all applicable laws of the united Arab Emirates, and in particular the laws of the Emirate in which the property is located and the loan is made available.

(d) We (or our representatives) have the right to inspect the Property and you will ensure that our personnel (or that of our representatives) will be allowed into the premises at any time during the period that the mortgage remains in effect.

8.3 Insurance

(a) Where dunia so requires, you must assign an insurance policy on your life favouring dunia. You undertake to pay the required premiums on this policy and ensure that it is valid at all times.

(b) You are required to ensure that the insurance is issued and that we are the beneficiary (mortgage insurance may include life insurance, insurance over the property, and other insurance protecting us from loss we may suffer in connection with the Facility). The insurance that must be arranged by you shall be specified in the confirmation letter.

(c) The mortgage insurance (if not arranged for by us) must be arranged with an insurance company that is approved by us in writing.

(d) You must reimburse us for all costs and fees which we incur in connection with the insurance.

8.4 Interest:

(a) We reserve the right to vary the rate of interest, fees or charges payable on any outstanding Loan from time to time upon giving you reasonable prior written notice.

(b) In the event of a change in interest, we reserve the right to change the tenor of the Loan or the monthly repayment amount or both at our discretion.

8.5 Events of default: In addition to the events of default set out above in these General Terms and Conditions, the following shall also be events of default in the case of Loan against Property:

(a) If our security over the Property lapses or ceases to be valid or is likely in our view to become invalid;

(b) If the Property is so damaged that it is a total loss or is completely unusable;

(c) If the mortgage over the Property registered in our favour is or may in our view become invalid or unenforceable; or

(d) If you default in respect of another Loan with us or fail to make any payment due to us in respect of any other Products or Services.

(e) If you shall fail to perform or observe any covenant or undertaking under as specified in the loan agreement or any other loan document.

(f) If you shall become insolvent or generally unable to repay debts as they become due or initiates proceedings to obtain the benefit of any bankruptcy or other law relating to bankruptcy, insolvency, liquidation, reorganization or relief of debtors or a moratorium is declared with respect to payment of your debts.

(g) If there shall have occurred a sale, lease, condemnation, governmental taking, seizure or other disposition of all or any part of the property or if it is no longer possible or legal for you to own the property.

(h) If a receiver is appointed in relation to all or any part of the property.

(i) If you default under any agreement for the extension of credit, under any security given by you for the extension of credit or under any guarantee issued by you for the extension of credit, or if payment of any credit facility granted to you is accelerated by any financial institution.

(j) If there is a material adverse change in your financial condition or the market value of the property.

(k) If a judgment or order for sale or attachment of all or any part of the property shall be entered by a court of law or authority.

8.6 On the occurrence of an event of default, we shall be entitled to demand immediate repayment of the outstanding Loan and commence execution proceedings on the Property in accordance with the 2008 Law. For this purpose, you hereby appoint us as your attorney in fact, with express authority to take possession of the Property, transfer and sell the property at your cost and expense, make insurance claims with regard to the Property and demand payment of any insurance proceeds from your insurer.

8.7 We may at our discretion and at any time require you to provide additional security for the Loan of a nature specified by or acceptable to us. Should you fail to provide such additional security we shall be at liberty to demand the immediate repayment of the amount outstanding.

8.8 Once you repay the Loan and all amounts payable to us, whether in respect of the Property or any other Product or Service, we shall at your cost and expense execute such documents as are required to release the Property from the mortgage or other security. We reserve the right to decline to do this if you or a co-borrower is in default with respect to any other Products or Services or payments to us.

8.9 All costs incurred in enforcing the Loan against the Property, including but not limited to taking possession and resale of the property, will be borne by and recovered from you.

PART V: CREDIT CARDS

TERMS AND CONDITIONS FOR CREDIT CARDS

These Terms and Conditions for credit cards shall also apply to cash cards and debit cards where the circumstances permit. Accordingly, the term “credit card” or “card” as used in this Part V will also refer to cash cards and debit cards to the extent allowed by the context.

GENERAL

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 sanction a credit limit for any credit card issued to you at our sole discretion. Subject to the credit limit, we shall set an operating limit for each card issued to you at our sole discretion. The operating limit shall be the maximum amount that you may utilise by using your card at any point of time. This operating limit may be increased up to or beyond the prevailing credit limit or reduced by us at any time. Any increase of your operating limit beyond the prevailing credit limit would result in such operating limit becoming the new credit limit and your usage of the increased credit limit shall deem consent to the increase thereof. Any utilization in excess of the operating limit in any month will result in an over limit fee for that month on your card account, and may even result in cancellation of the credit card at the sole discretion of dunia.

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 into UAE Dirhams using the applicable exchange rates as determined by MasterCard or Visa or any other card association or payment gateway as applicable (which may involve a conversion to US Dollar first). The billing of overseas transactions whether online/offline and whether or not denominated in UAE Dirhams will also be based on the applicable exchange rates determined by MasterCard or Visa or any other applicable card association or payment gateway. In addition, and for the avoidance of doubt, the additional foreign currency/overseas transaction charges mentioned in our Schedule of Fees and Charges will also apply for all such transactions and any transaction at any merchant registered outside the UAE, irrespective of whether such transactions and charges are debited or incurred in UAE Dirhams or any other currency.

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 & fess (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 operating 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. FUNDS TRANSFER

26.1 You may use our transfer service (subject to these General Terms and Conditions)to transfer funds from your dunia credit card or your bank account to any other dunia credit card by providing us with the details of the recipient of the funds.

26.2 The transfer of funds from your dunia credit card shall be subject to the available credit limit on your card.

26.3 A fee may be charged for the provision of these services.

26.4 You are fully aware of and consent to the risks associated with transmitting instructions for funds transfer to dunia via telephone, mobile, mobile apps, telex, facsimile, letter, mail, messenger or similar methods (the “Manual Instruction Methods”). You authorize dunia and direct dunia to act upon instructions for funds transfer via the Manual Instruction Methods purportedly issued by, believed by dunia to be issued by or originated from your Account or by an authorized signatory to your Account as identified in the Account opening form or related documentation (the “Instructions”); and dunia is irrevocably authorized to rely on the Instructions as constituting genuine, true, accurate, complete and enforceable Instructions, and you shall not challenge the Instructions by any means. dunia has no duty to obtain confirmation or make enquiry as to such issues and you shall not hold dunia liable for not having done so. At dunia’s sole discretion, dunia may decline to act upon the Instructions or request verification of the Instructions including without limitation, verification by means of a confirming call to the authorized signatory of your Account as identified in the instructions, or to a representative nominated by you (a “Confirming Call”). The Confirming Call may be made to a number made available by you to dunia orally or otherwise in relation to your Account(s).

26.5 duniaqwikCash Service

(i) We may offer the duniaqwikCash service to you to transfer money and make payments through the convenience of a Short Messaging Service (SMS), WhatsApp or a phone call.

(ii) You will be required to register yourself as well as the intended beneficiary for the service. You must also ensure the accuracy and completeness of the information provided as dunia will not be responsible for any loss incurred by you as a result of you providing us with incorrect or incomplete information.

(iii) In addition to the duniaQwik Subscription Fee, other fees may also be charged by third parties with respect to any funds transferred under this scheme, which shall be borne by you. The fee will be charged to your dunia Credit Card.

(iv) Before accepting and acting on any instructions, we may, at our sole discretion, call you to verify your identity and confirm your instructions. dunia will not be responsible for acting on any instructions that may have been sent by you but are not received by us. dunia will also not be responsible for any consequential loss or damage.

(v) While we will transfer money and make payments based on your instructions on a best effort basis, we shall not be liable for any loss, damage, costs, or claims incurred by you howsoever caused. In particular we shall not be liable for any financial loss on account of any delay or any fraudulent instruction received by dunia either through a call, WhatsApp or SMS from your registered mobile number.

(vi) The transfer of funds shall be effected at the prevailing exchange rate as determined by the exchange company / financial institution used to transfer the funds. dunia shall not be responsible, and accepts no liability, for any movements in exchange rate between the time of receipt of instructions and the time of transfer.

(vii) Funds once transferred using this service cannot be recovered from dunia.

(viii) With respect to transfer of funds to a bank account within the UAE, dunia’s responsibility is limited to ensuring transfer of funds to the nostro account of the payee’s bank.

(ix) dunia may from time to time and at its sole discretion set a maximum limit on the amounts that can be transferred or paid using this service.

(x) For international transfers, dunia will only act as a facilitator and funds transfer will take place through a licensed money changer in the UAE, as dunia may, from time to time, select at its sole discretion. dunia’s responsibility will be limited to forwarding your instruction and payment to the money changer for international transfer. The money changer alone will be responsible for the transfer of funds. Funds will be transferred at an exchange rate solely determined by the money changer. dunia will not be responsible for any loss or damaged howsoever caused. In addition to dunia’s fee, and terms and conditions, international fund transfers will be subject to terms and conditions of the money changer and any other applicable exchange control regulations as may be prevalent.

(xi) dunia may at its discretion set a limit for each money transfer (which limit may be altered at the discretion of dunia from time to time). In case the amount requested to be transferred by you exceeds this limit, dunia shall, upon confirmation from you, transfer the said amount over two or more transactions. Each transfer by dunia will be considered a separate transaction. Please refer to the detailed fee schedule set out in
www.dunia.ae/qwikcash for more details.

27. ISSUE OF SUPPLEMENTARY CARD

27.1 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.

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

27.3 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.

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

27.5 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.

27.6 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.

28. LOSS OF CARD AND EXPIRY/TERMINATION

28.1 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.

28.2 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.

28.3 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.

28.4 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.

28.5 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.

28.6 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.

28.7 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.

28.8 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.

29. E-CARD

29.1 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.

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

29.3 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.

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

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

29.6 The credit and operating limits assigned to any credit card issued to you shall include the credit and operating 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 operating limit, but within this operating 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.

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

29.8 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.

29.9 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.

30. FAMILY CARD

30.1 Credit cardholders may be offered the dunia Family Card to enable them to swiftly transfer funds to their family members living within or outside the UAE. In order to avail of this service, the family member(s) to whom funds are intended to be transferred must either be a primary or supplementary cardholder with dunia.

30.2 The transfer of funds from your dunia credit card shall be subject to the available credit limit on your card.

30.3 In order to qualify for Family Transfers, the term family shall be limited to spouse, parents, grandparents, siblings, children, grandchildren and in-laws.

30.4 A fee may be charged for the provision of these services.

31. CREDIT CARD LOAN

31.1 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 operating 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.

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

31.3 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.

31.4 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.

31.5 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.

31.6 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.

32. REWARDS PROGRAMME

32.1 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.

32.2 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 and/or benefits set out in the rewards catalogue available online. current for the time being.

32.3 Cardholders will only be eligible to participate in the rewards Programme, if their credit card is in good standing and valid at all times. We reserve the right not to credit points for cash advances, funds transfer transactions, annual fees, finance charges (including but not limited to interest and late payment charges), installment payment plans, penalties, utility bill payments, other miscellaneous charges imposed by dunia and any other types of expenditure which we may specify from time to time. The list of eligible transactions will be determined at in our sole discretion and may be varied by us without prior notice.

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

32.5 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 available online. . Please note that the rewards catalogue may be changed or replaced from time to time as determined by us.

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

32.7 If a credit card is cancelled or terminated at any time, for any reason, whether by the Primary cardholder or dunia or if the account is past due, we may atin our discretion not permit the cardholder to earn or redeem the reward points.

32.8 Accumulated reward points willmay be cancelled if

(a) the credit card is delinquent by more than three (3) months consecutively; 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) the credit card has remained inactive for a period of more than 6 months;

(e) any other event occurs that at in our sole discretion disqualifies the cardholder from redeeming the reward points. Cancelled reward points shall not be transferable to any other card account (whether relating to the Cardholder; or any third party), are not exchangeable for cash or credit and/or shall not be re-accrued by the Cardholder.

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

32.9 Certain goods, or services and/or benefits 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 and/or benefits with rewards of a comparable value or type.

32.10 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/or benefits set out in the catalogue current at the particular time available online. .

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

32.12 Reward Points earned will expire within 24 months from the earned date, unless otherwise determined by dunia at our sole discretion. For the avoidance of doubt, points that have expired cannot be used under or transferred to any loyalty programme as dunia may from time to time make available.

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

32.14 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.

32.15 Reward points earned by the Supplementary Cardholder will be credited to the card account of the Primary Cardholder and may be used only by the Primary Cardholder for the redemption of rewards and benefits under the Programme.

32.16 The reward points awarded to and redeemed by a Cardholder will be stated in the card account statement of the Cardholder, and may be corrected or revised by dunia at any time to correct any errors in the computation of reward points. Where any charge posted to any card account is reversed or re-credited (whether in whole or in part), the reward points awarded in respect of the amount reversed or re-credited will be cancelled.

32.17 dunia shall be entitled to treat all instructions, whether oral or in writing, relating to the reward points or the use or redemption of reward points given or purported to be given to dunia by the Primary Cardholder (to whom the reward points were awarded) as the instructions of such Primary Cardholder, and to act in accordance with such instructions.

32.18 dunia’s decision on all matters and disputes concerning the rewards Programme shall be final and binding on the Cardholder.

32.19 The use and/or conversion of the reward points may be subject to further terms and conditions or restrictions and dunia may, at its sole discretion and without prior notice, modify, suspend or terminate the Programme, and/or modify these terms and conditions in such manner as dunia considers fit. 

32.20 dunia may notify You, the Primary Cardholder of any such change(s) in the dunia General Terms and Conditions by publishing such changes in the card account statements to be sent to Cardholders, posting such changes on the dunia website, or by such other means of communication as dunia may determine at its absolute discretion. Where the Cardholder or any of his/her Supplementary Cardholder(s) continues to use his/her Card after such notification, then the Cardholder and his/her Supplementary Cardholder(s) shall be deemed to have agreed with and accepted such change(s).

32.21 dunia may provide vouchers (Vouchers) issued by participating merchants (Merchants) from time to time at its sole discretion. dunia will not be liable to replace Vouchers that are lost or destroyed, neither will dunia exchange Vouchers for any reason whatsoever.

32.22 The use of a Voucher shall constitute a purchase of goods or services by the person using the Voucher from the Merchant supplying such goods or services, and dunia assumes no liability or responsibility whatsoever for the acts or default of the Merchant (including the failure of the Merchant to honour any Voucher) or in respect of the availability and or any defect or deficiency in the goods or services for which any Voucher is redeemed. dunia is not an agent of the Merchant. Any disputes about quality or performance should be resolved directly with the Merchant. 

32.23 If you delay or default in payment of any installment due and payable for a dunia product within six (6) months of claiming the Voucher or should you prepay any product prior to its maturity date, the value of the Voucher must be refunded by you to dunia. Accordingly, the value of the Voucher shall be added to the amounts outstanding pursuant to the terms governing the facility.

32.24 The use of the Voucher is subject to the terms and conditions stated herein and in the relevant section of the Programme catalogue (which may be revised from time to time without prior notice) and such other restrictions and/or conditions as may be imposed by the Merchant in relation to which the Voucher may be used to pay for or obtain goods and/or services of that Merchant. 

PART VI: INVESTMENT AND INSURANCE PRODUCTS

1. GENERAL

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 underwrite, administer, or issue insurance policies. 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.

PART VII: THE SERVICES

1. AUTOMATED TELLER MACHINE (ATM) CARD SERVICES

1.1 We may at our discretion issue you with an automated teller machine (ATM) card. This will enable you to obtain disbursements of Loans and other products made available to you, make inquiries on your CN account, deposit cash for payment (but not for personal deposits) and cheques for payments due for our Products and Services including credit cards, and (where approved) obtain cash on your credit card through our ATMs. Personal deposits will not be accepted under any circumstances.

1.2 The ATM card will be used with a personalized PIN created by you. You are responsible for the safe and proper use of your card and the PIN number and the safe custody of both. In the event of any theft, loss or unauthorized use you will remain liable for transactions made on your ATM card unless you have notified us of the theft, loss or unauthorized use in time to enable us to block such transactions. We shall not accept any liability for the wrongful use of the ATM card unless any loss or damage is caused by our gross negligence or wilful default.

1.3 The ATM card is not transferable and is personal to you. Only you may use the ATM card for access to our Products and Services. The ATM card remains our property at all times and is to be returned to us immediately upon demand.

1.4 Replacement ATM cards and new ATM cards will be issued at our sole discretion upon request and subject to any charges payable and the terms and conditions in force at all times including these General Terms & Conditions.

1.5 All transactions using the ATM cards will be recorded by us and our records and statement of account will be conclusive and binding on you for all purposes except where there is an obvious error or omission.

1.6 We may at any time without assigning any reason withdraw, suspend or cancel the use of any ATM card or vary the terms and conditions for its use or restrict its use in any manner we think fit.

1.7 You will indemnify and keep us fully indemnified against all losses, costs, claims or damages or other liabilities which we may sustain or incur as a result of your use of the ATM card unless such loss, damage or claim is due to our gross negligence or willful default.

1.8 We are not responsible or liable for any loss or damage arising as a result of any ATM declining to honour, accept or operate on your ATM card for any reason whatsoever, whether valid or not.

1.9 ATM cards may only be operational on dunia ATMs and may not be usable with other ATMs. Access through other ATMs will be made available when arrangements are in place.

1.10 Cash withdrawals through the ATM are permissible up to the available balance in your account or a daily limit set by us from time to time, whichever is lower.

1.11 Cash or cheques may be deposited through some or all of our ATMs. Cash deposits will be posted to your account within two (2) working days and cheque deposits will be posted subject to clearing and receipt of funds. For all such ATM deposits the receipts issued by the ATMs will be the sole receipts issued.

1.12 In case of any ATM related dispute we shall use our audit records of the ATM (either in a printedor electronic form) which shall be final and conclusive evidence in all disputes.

2. Bill Payment Services

2.1 You may use our Utility Bill Payment Service to effect payment of utility bills. A “utility bill” is one issued for the use or consumption of electricity, water, sewage, telephone, mobile telephone, internet and other similar utilities, products or services.

2.2 We shall pay the utility bills within five (5) working days of receiving your instructions. Before accepting and acting on any instructions we may ask you to verify your identity and confirm your instructions.

2.3 As it will take up to five (5) working days to effect payment of your bills any charges for delayed payment or disconnection of services for non-payment will not be our responsibility or liability. Under no circumstances will dunia be liable for any direct, indirect, special or consequential losses arising out of the provision or the failure to provide the relevant bill payment service. You will be responsible for payment of any fees or charges levied by the recipient and to ensure that your payment instructions include payment of any additional charges in connection with the bill payment.

2.4 The utility bill payment service is provided entirely at your risk and we shall not be liable for any omission, failure or delay in making the requisite payment at the requisite times. Whilst we shall make every reasonable effort to provide these services, we shall not be held liable or responsible for any failure, delay or error on our part or any failure, delay or error on the part of the provider of the utility including the recording and effecting of any payment.

2.5 Once you have given us instructions to make a payment you may not revoke, cancel, amend or reverse such instructions.

2.6 Our record of transactions for your utility bill payments will be conclusive and binding on you and you may not deny liability for payments made.

2.7 We shall be under no obligation to provide a receipt or remittance advice confirming payment of an utility bill.

2.8 A fee may be chargeable for the provision of the Utility Bill Payment Service.

2.9 Unless otherwise agreed, we shall debit your credit card for the amount of the utility bill payments and the fees charged.

2.10 We may discontinue or restrict this Service at any time without assigning any reason.

3. STANDING INSTRUCTIONS

3.1 Standing instructions payment or standing orders are a Service which we shall provide to you through your credit card or any other account or credit amount which we may hold for you. This Service is subject to our rates and charges as per the current tariff and any terms and conditions in the application form. The use of standing instructions to make repayments on loans and credit cards is not permissible.

3.2 We shall be entitled to decline acceptance of standing instructions at our discretion or if you fail to honour your obligations and liabilities to us.

3.3 We shall only process any standing instructions from you if you have the available operating limit in your credit card account.

3.4 If there is insufficient credit available to enable us to process standing instructions, we may at our discretion cancel the standing instructions service without prior notice to you.

3.5 We shall at our discretion determine the order of priority for payment if there is more than one set of standing instructions and an insufficient credit balance available in the account.

3.6 We shall not be responsible for any delays, losses in transit, errors in transmission or other errors in the processing of standing instructions.

3.7 You may amend or cancel any standing instructions by giving us not less than fourteen (14) days prior written notice. Notwithstanding such cancellation, if payment is still made despite our best efforts to cancel your instructions, you will be liable for such payment.

4. ONLINE SERVICES

The following provisions together with any terms and conditions shown on the relevant website or application forms will apply to all Products and Services provided by us through the internet from time to time (the “Online Services”) and administration of such Products and Services.

4.1 You will be obliged to pay any applicable fees, expenses and charges applicable in respect of the Online Services provided.

4.2 Any transactions or instructions given through the Online Services will be irrevocable and unconditionally binding on you. You accept that you will make use of the Online Services entirely at your own risk and responsibility.

4.3 Our records of all transactions and instructions conducted through our Online Services will be binding and conclusive in the absence of obvious error or omission in such records.

4.4 You accept that any security procedures we implement for our Online Services are reasonable and adequate. For your part you will keep your CN and the personal identification number (the “IPIN”) or password supplied to you or created by you for the purposes of the Online Services confidential and prevent the same from being disclosed to third parties or unauthorized persons. You will be fully responsible for the safe keeping of all numbers and passwords as we accept no responsibility or liability for any fraud or damage arising as a result of loss or compromise of the IPIN.

4.5 We shall not make any investigations regarding the identity of the user using the Online Services in your name other than making reasonably sure that the appropriate passwords and identification or security methods have been applied. Any use of the Online Services by unauthorized third parties will be solely your responsibility unless you have advised us of the possibility of such unauthorized use and we have had reasonable time to terminate access by unauthorized parties by changing the various security and authentication codes.

4.6 All information stored on the Online Services belongs entirely to us.

4.7 We shall be at liberty to:

(a) take such steps as we deem necessary to restrict access to the Online Services;

(b) introduce additional or alternative security measures for authentication purposes; and

(c) restrict or terminate your use of the Online Services.

4.8 Whilst the Online Services are provided by us and through our facilities we shall not be responsible or liable in any manner for any of the following:

(a) failure to make available or accessible any Online Services due to technical, network or other malfunction or breakdown, routine maintenance or upgrades;

(b) any errors or omissions or any loss or damage that may occur or arise as a result of any malfunction or failure of the Online Services or otherwise howsoever;

(c) any additions, deletions, variations or changes to the Online Services and its use or the terms and conditions under which it is available or daily cut-off times;

(d) any partial, incomplete or failed transaction or bill payment; or

(e) failure of any equipment or software provided by third party software providers, service providers and network providers (including but not limited to telecommunications providers, Internet browser providers and Internet access providers), or any agent or subcontractor of any of the foregoing.

4.9 Whilst we shall provided the Online Services in a good faith and best efforts basis, we shall not be liable for any loss, damages, costs, or claims incurred by you howsoever caused. In particular we shall not be liable for any financial loss due to online credit card fraud.

4.10 We are unable to guarantee the accuracy, completeness and timeliness of information provided through our Online Services. We may vary, amend or change the information and the website linked with our Online Service.

4.11 We shall not be liable for or responsible for any damage or loss caused by any computer virus, computer code or programming device used in connection with our Online Services, or by any corruption, disruption or damage to information, software, hardware, data or property by reason of or incidental to the use of our Online Service;

4.12 We reserve the right to decline to process or honour on line instructions or communications.

4.13 We may terminate your use of the Online Services at any time in our discretion without having to assign any reason.

4.14 We shall notify you from time to time of the internet software required for using our Online Services and where possible assist in helping you access it. However, we are not obliged to support all versions of the internet software. You will remain responsible for upgrading your software, hardware and operating system from time to time so as to be compatible with ours.

4.15 Any hyperlink on our website is for information purposes only and for your convenience. We shall not analyze or investigate such links. The inclusion of a hyperlink does not imply any endorsement of the material on such site.

4.16 Certain correspondence such as the online banking password and e-statements will be delivered to you through the email address registered with us. Emails will be sent to you through the public network. You must immediately change the password and/or PIN numbers as soon as you receive them. Thereafter, you should change such numbers periodically. We shall not be responsible for any failure or delay in delivery or for the loss of data or confidential information or for misdelivered e-mails .

4.17 Whilst we shall provide internet security we cannot guarantee complete protection against internet fraud, hacking and other actions that could affect customer transactions or any other instructions to us including delays or failures in processing the transaction or instructions.

4.18 You agree and undertake:

(a) not to use any software or material which you know or have reason to suspect contains any viruses, malicious code, or damaging components which may interfere with the operation of the Online Services or corrupt data or software on or provided through the Online services;

(b) not to transmit any materials or information through the On Line Services which may be offensive, indecent, defamatory or which may not be lawfully disseminated under applicable laws or which you know or have reason to suspect contains any viruses, malicious code or damaging components.

4.19 You will be solely responsible for ensuring the accuracy, adequacy, and completeness of the electronic instructions and that we shall not be obliged to verify the accuracy, adequacy and completeness of such instructions.

4.20 We shall not be liable for any loss, damage, or expense suffered by you as a result of :

(a) electronic instructions being inaccurate, inadequate or incomplete in any way; or

(b) any failure, refusal, delay or error by any third party through whom any such electronic instructions are transacted.

4.21 Online instructions will not be deemed to have been received by us unless you receive confirmation of receipt. In the event of non-receipt, your instructions will not be carried out or processed and we shall not be liable for any loss, damage, or expense which thereby arises.

4.22 Your use of the Services includes the ability to enter into agreements and/or to make transactions electronically. YOU ACKNOWLEDGE THAT YOUR ELECTRONIC SUBMISSIONS CONSTITUTE YOUR AGREEMENT AND INTENT TO BE BOUND BY AND TO PAY FOR SUCH AGREEMENTS AND TRANSACTIONS. YOUR AGREEMENT AND INTENT TO BE BOUND BY ELECTRONIC SUBMISSIONS APPLIES TO ALL RECORDS RELATING TO ALL TRANSACTIONS YOU ENTER INTO ON THIS SITE, INCLUDING NOTICES OF CANCELLATION, POLICIES, CONTRACTS, AND APPLICATIONS. In order to access and retain your electronic records, you may be required to have certain hardware and software, which are your sole responsibility.

5. DUNIA APPS AND DUNIA APPS WORLD

(a) In order to avail of the duniaApps and duniaAppsWorld services, you must be a dunia customer.

(b) A registration fee may apply, as may be decided by us at our sole discretion from time to time.

(c) If you are not a dunia customer, you will be required to register on duniaApps and duniaAppsWorld and by such registration you shall become a dunia customer and shall have agreed to the General Terms and Conditions.

(d) As part of the registration process, you are required to provide information about yourself that is true, accurate, current, and complete in all respects.

(e) You will also be required to undergo dunia’s “Know Your Client” and other due diligence processes. This may require you to provide copies of identification, proof of address, as well as financial wherewithal.

(f) All information provided by you during the registration process and anytime thereafter will be dealt with in accordance with our Privacy Policy which is available on
www.dunia.ae/disclaimer.

(g) dunia shall use its best endeavours to carryout instructions received by it within such time as may be specified by dunia, however, dunia does not guarantee the fulfilment of instructions within such specified time frames since the duniaApps/ duniaAppsWorld service depends on various electronic technology used from time to time and may pass through various intermediaries, which could cause delays and glitches in receipt/transmission of any instructions by/from dunia from/by you. Accordingly, dunia shall not be liable for any loss, damage whether direct or indirect, costs, charges or expenses incurred by you due to a delay/inability in providing the duniaApps/duniaAppsWorld service.

(h) The duniaApps/duniaAppsWorld service will be available to you only if you are within the cellular circles of the telephone service providers or in the circles forming part of the roaming network of such telephone service providers.

(i) If dunia, for any reason whatsoever, is unable to fulfil your instructions, dunia shall not be held liable for any loss, damage whether direct or indirect, costs, charges or expenses incurred by you in this regard.

(j) We are making available to you as our customer the duniaApps/duniaAppsWorld service as the case may be through the platform provided by reputable software providers. In doing so we are simply facilitators and therefore take no responsibility, liability or obligation for rejected instructions or refund of payments. You are expected to assess the suitability, value and use of the application prior to download and you will be obliged to pay any applicable fees, expenses and charges applicable in respect of services provided. Any transactions or instructions given through duniaApps/duniaAppsWorld service will be irrevocable and unconditionally binding on you. You accept that you will make use of duniaApps/duniaAppsWorld service entirely at your own risk and responsibility. Whilst we shall provide the duniaApps/duniaAppsWorld service in a good faith and on a best efforts basis, we shall not be liable for any loss, damages, costs, or claims incurred by you howsoever caused. In particular we shall not be liable for any financial loss due to fraud.

(k) We shall not make any investigations regarding the identity of the user using duniaApps/duniaAppsWorld service in your name other than making reasonably sure through telephonic confirmations that the instructions for purchase and payment were made by you. Any use of the duniaApps/duniaAppsWorld service by unauthorized third parties will be solely your responsibility.

(l) Please note that if you are using a credit card for making payments, 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.

(m) You accept that any security procedures we implement for our duniaApps/duniaAppsWorld service are reasonable and adequate. For your part you will take all measures to keep your device secure and in particular keep your password created by you for the purposes of the duniaApps/duniaAppsWorld service confidential and prevent the same from being disclosed to third parties or unauthorized persons. You will be fully responsible for the safe keeping of all numbers and passwords as we accept no responsibility or liability for any fraud or damage arising as a result of loss or compromise of the password.

(n) Whilst duniaApps/duniaAppsWorld service are provided by us and through our facilities we shall not be responsible or liable in any manner for any of the following:

(i) failure to make available or accessible duniaApps/duniaAppsWorld service due to technical, network or other malfunction or breakdown, routine maintenance or upgrades;

(ii) any errors or omissions or any loss or damage that may occur or arise as a result of any malfunction or failure of duniaApps/duniaAppsWorld service or otherwise howsoever;

(iii) any additions, deletions, variations or changes to the duniaApps/duniaAppsWorld service and its use or the terms and conditions under which it is available;

(iv) any partial, incomplete or failed transaction or bill payment; or

(v) failure of any equipment or software provided by third party software providers, service providers and network providers (including but not limited to telecommunications providers, Internet browser providers and Internet access providers), or any agent or subcontractor of any of the foregoing.

(o) You are fully aware of and consent to the risks associated with transmitting instructions for funds transfer to dunia via telephone, mobile, mobile apps, telex, facsimile, letter, mail, messenger or similar methods (the “Manual Instruction Methods”). You agree to the terms and conditions pertaining to Manual Instruction Methods as set out in clause 26.4 of these general terms and conditions

(p) dunia reserves the right to limit, amongst other, the financial value, number and frequency of instructions that you may provide by using the duniaApps/duniaAppsWorld service, dunia further reserves the right to alter/amend/modify the limits as imposed without prior intimation to you.

(q) Without prejudice to the generality of the aforesaid, processing of all the instructions is subject to the availability of available funds/limits in your dunia account or card. In the event of funds/limits not being available, dunia shall not process the instructions and shall not make payments. You understand that dunia shall not be liable for any late charges, penalty, loss, damage, expenses, whether direct or indirect, incurred/to be incurred by you in this regard and/or the utilities/services not being delivered to you by the merchant establishments on account of such non-processing of instructions and you hereby agree not to hold dunia liable in this regard.

(r) dunia neither endorses the apps offered by duniaAppsWorld, nor is it in any manner party to the contracts that may be executed between you and the app developer. The apps developer shall be solely responsible to you to render the apps for which payment is to be made under the respective terms and conditions and dunia shall not be responsible/liable for any deficiency in the same including, but not limited to, deficient quality, delivery, quantity etc., and shall not be made party to any disputes between you and the apps developer. You shall not hold dunia liable for any non-service, delayed service, faulty service rendered by the apps developer and shall not contact, communicate in any manner whatsoever, inter alia, by electronic mail, phone, post, SMS, personal meeting with dunia or any other means of communication in this regard.

(s) You understand and acknowledge that dunia and any other intermediary may require further authentication codes/security devices for provision of the duniaApps/duniaAppsWorld service and may provide the same to you to be used to give instructions and/or perform certain transactions under the duniaApps/duniaAppsWorld. You hereby confirm and understand that dunia is, in no way, in a position to control or regulate such authentication codes/devices and shall, consequently not, in any way be, liable or responsible for actions performed by you utilising the same. You understand that the role of dunia is limited to verification of the dunia account number, validity of the card, checking the availability of sufficient funds in your dunia account and processing the payments.

(t) You acknowledge that the duniaApps/duniaAppsWorld Services is dependent on the infrastructure, connectivity and services provided by the telephone service providers and the intermediaries engaged by dunia. You accept that timeliness, accuracy and readability of SMS/Alerts/instructions/information shall depend on factors affecting the telephone service providers and intermediaries. dunia shall not be liable for non-delivery or delayed delivery of SMS/Alerts/instructions/information, payments, errors, loss or distortion in transmission of information and instructions to/from you or the merchant establishments.

(u) dunia shall endeavour to provide the duniaApps/ duniaAppsWorld Services on a best effort basis and you shall not hold dunia liable for non-availability of the Services or any part thereof or non-performance by any cellular service providers or intermediaries or any loss or damage caused to you as a result of use of the dunia Apps/duniaAppsWorld services for any cause whatsoever. dunia shall not be liable in any manner to you in connection with the use of the dunia Apps/duniaAppsWorld Services facility. You shall not rely on the Alerts/information made available by dunia for your investment or business purposes.

(v) You shall be able to avail of the duniaApps and the duniaAppsWorld services by registration on your mobile device with a Personal Identification Number (PIN), selected by you for use of the duniaApps and dunia AppsWorld as a security measure. The PIN is specific to the mobile device used for registration purposes and hence you shall be responsible for the mobile device and any usage of the same, whether by a third party or any other person, and any usage shall be deemed to be usage by you. It shall be your sole responsibility to inform dunia in writing about any change with regard to the mobile device and dunia shall not in any way be liable or responsible for any loss, damages, costs, charges or expenses suffered/incurred by you for reason of your failure to do so.

(w) dunia reserves the right, but shall not be obliged, to make changes, enhancements, and/or modifications to the duniaApps/duniaAppsWorld service offered by dunia from time to time.

(x) dunia reserves the right to, from time to time at its sole discretion, but with prior intimation to you, to charge fees for the provision of any and/or all of the duniaApps/ duniaAppsWorld services.

(y) You undertake to provide dunia with such information and/or render such assistance as is required by dunia for the performance of its obligations for the provision of the duniaApps/duniaAppsWorld service.

(z) These terms and conditions shall be in addition to and not in derogation of the Specific Terms and Conditions and the Terms and Conditions applicable to other services offered by dunia. You may also be subject to additional terms and conditions that may apply when you use affiliate services, third-party content, or third-party software.

6. STATEMENTS

We shall issue statements of accounts periodically for customer convenience for the various Products and Services accounts which you may have with us. These periodic statements of account will be conclusive and binding on you unless you object within fourteen (14) days from the statement date. However, notwithstanding any objections to the entries in the statements or non-receipt of statements, you are still obliged to make any payments and discharge any other liabilities and obligations you may have and any claim of error with regard to our statements of account does not exempt you from making such payment or discharging such liability. A fee may be chargeable for the provision of paper statements.

7. EMAIL STATEMENTS

7.1 We may at our sole discretion provide statements of account by email. For greater convenience, you may request for your statement of account by e-mail instead of in a paper form. However, whenever necessary and at our sole discretion, you may receive a paper statement instead.

7.2 Where we agree to provide email statements to you it will be on the basis that you will fully indemnify us against any costs, claims, losses or damages by reason of any errors or omissions on the email statements, misdelivery, non-delivery or otherwise arising directly or indirectly as a result of the email statement service.

7.3 If you request email statements, you would do so on the understanding that such means of communication have an inherent risk of the data and confidential information being accessed, seen by or manipulated by other parties. For this reason you will agree to waive any right or claim of action they may have against us or our employees or offices in this regard. You will also unconditionally and irrevocably undertake to indemnify us, our employees, officers and representatives against all losses, costs, damages or expenses arising by the provision of email statements.

7.4 We shall be at liberty to terminate or restrict the availability or use of the email statement service at our discretion at any time without assigning any reason therefor.

7.5 There may be charges for this service.

7.6 You must notify us of any discrepancy, omission, inaccuracy or wrong entry in an email statement within fourteen (14) days from receipt of the email statement. Upon expiry of this period, you will in the absence of notification be deemed to have received and accepted as true and correct all the entries to the email statement.

7.7 Your contractual and other obligations to us including the obligation to make any and all payments due will remain irrespective of the receipt or non-receipt of the email statement.

8. TELEPHONE SERVICES

8.1 Our telephone centre will make available to you a range of services through the telephone including information regarding status of and balances on your account for the various Products and Services, extended information on the Products and Services, receipt of limited instructions and applications, provision of application forms and materials, credit card and ATM card services and such other services as the centre may be designed to provide. Please note that the range of services provided by telephone may change from time to time. All telephone communications with our telephone customer service personnel may be recorded for the purposes of storage, verification, training and ensuring required customer service levels.

8.2 When making available our telephone customer service facility, we shall issue you with a telephone personal identification number (“TPIN”) as security for the use of this service. The TPIN must be kept confidential and must not be disclosed to any other person. You will be fully responsible for the safe keeping of all numbers and passwords as we accept no responsibility or liability for any fraud /or damage arising as a result of loss or compromise of the TPIN.

8.3 We shall accept your instructions over the telephone using our telephone services on the basis that you will fully indemnify us and hold us harmless against any consequences, claims, proceedings, damages or losses which may arise or may be incurred by reason of our acting in good faith on your instructions and carrying out instructions from you or purporting to be from you. Other than to undertake our standard security checks we shall be under no obligation to verify that the instructions are from you.

8.4 In using this service you acknowledge that we may deal with and provide information to any party who purports to be the customer, provided that the customer verification procedures in force from time to time have been followed by our personnel.

8.5 The use of the telephone service is personal only to you and you must not permit any third party to use this facility on your behalf. Any liability or responsibility for third parties who access such services in your name will be borne by you unless we are grossly negligent or in wilful default.

8.6 We are not liable for any loss or damage incurred by reason of any error, failure to provide the service, provision of erroneous information, failure to act on instructions or otherwise howsoever unless the same is shown to have been caused by our gross negligence or wilful default.

8.7 You may change various passwords and personal identifications numbers using our telephone services once your TPIN is validated and the security measures have been complied with. However, in making available this service to you we take no responsibility for any consequences, costs, claims or damages arising.

9. ALERTS

9.1 From time to time we may make available an alerting service by using SMS, WhatsApp or emails to send messages alerting you on various matters concerning your accounts and our Products and Services. These would include, for instance, alerts as to payments due, expiry of a Product or Service, introduction of new or improved Products or Services, or outstanding balances in respect of Products or Services. The service may also alert you to any actual or potential defaults in your payment or other obligations.

9.2 You may be required to register for the service in order to make use of it. The registration will also constitute registration for our online services and your acceptance of the General Terms & Conditions.

9.3 Whilst we shall use our best reasonable efforts in providing the alerts and information, we do not accept any liability or responsibility whatsoever for (i) any failure or lapses in the alerting service or (ii) the content or nature of the information sent to you by or through the alerting service or (iii) information which may have been omitted to be sent or sent in error.

9.4 We may send you additional information from time to time on our Products and Services. In the event that you do not wish to receive or continue receiving such information please notify us in writing or through other available channels.

9.5 In the event that any change in the communication details concerning the alerting service, including your mobile number, email address, or account number, it will be your responsibility to notify us in writing in adequate time and ensure that the new details are entered in our records.

9.6 The alerts that you receive will be based on the information that you have selected as being required. This information may be selected at the time of registration or notified to us thereafter through established means. The responsibility for setting the required information alerts and for the use of this service in a proper and effective manner is entirely yours.

9.7 You may give us instructions to vary the nature and content of the alerts that you receive either by written notification in our standard forms (if any) or other accepted means of written communication or alternatively through our telephone services. Your instructions will be implemented after they have been subjected to our internal verification processes.

9.8 The alerting service will only be available to you if you are within the coverage area of the cellular service operator we select. We take no responsibility for any defects, failure of delivery or malfunction by the cellular service operator or its services. In particular, we shall not be responsible for the quality of the service provided by the cellular service operator or any third party service provider and make no guarantee and give no assurances as to the delivery or accuracy of the alerts.

9.9 We may at any time discontinue this service at our sole discretion.

9.10 The tariff for our fees and charges for use of the alerting service will be set out in a schedule of tariffs which we shall make available to you on registration for the alert service.

9.11 If you wish to cease using the alerting service you will cancel it by written request to us. However notwithstanding any such cancellation, you will remain liable for all alerts and other transactions that occurred prior to our terminating the service.

10. REMITTANCES

10.1 In conjunction with other financial institutions we shall provide a service to our customers for the quick and convenient remittance of funds. The charges and fees for this service will be notified to customers from time to time.

10.2 The terms and conditions governing the remittance of funds may be specified on any application form provided for the purpose. In addition you acknowledge that the terms and conditions of the external financial institutions involved in providing the service shall also apply.

10.3 We shall provide our services on a best efforts basis but shall not be responsible or liable for any loss or damage arising and howsoever caused by reason of the remittance or failure to remit funds on your instructions unless such loss or damage has been caused by our gross negligence or wilful default.

10.4 Unless otherwise agreed, we shall debit your credit card for the amount of funds transferred, and the applicable fee charged by dunia and the financial institution enabling the remittance of funds.

10.5 The transfer of funds shall be effected at the prevailing exchange rate as determined by the exchange company / financial institution used to transfer the funds. dunia shall not be responsible, and accepts no liability, for any movements in exchange rate between the time of receipt of instructions and the time of transfer.

10.6 dunia shall only provide these services subject to the relevant exchange company / financial institution being able to transfer the funds and the transfer not being subject to international sanctions or other laws or regulations which dunia may be subject to from time to time.

11. RING OF CONFIDENCE

While dunia will endeavour to make available to you the services envisaged under the dunia Ring of Confidence, you understand and agree that

(i) the products, services and benefits shall be provided on a best effort basis as may be determined by dunia at its sole discretion;

(ii) the services are being made available to you through reputed third party service providers including the card association/select merchants/insurance companies as the case may be and dunia is merely acting as a facilitator and therefore takes no responsibility, liability or obligation for any error, omission on the part of the service provider in respect of the timeliness, quality, efficiency, reliability of the services and/or information made available. All queries, complaints and/or claims should be addressed directly to the service provider. dunia reserves the right to withdraw, cancel or modify the services and or the terms and conditions governing the services and protection benefits at its sole discretion.

(iii) the discounts and benefits made available to you on your dunia products and services are subject to specific terms and conditions of dunia as well as other service providers and you are required to refer to these specific terms and conditions as available on www.dunia.ae prior to availing of these services. Complimentary monthly account statements via email and dunia mobile app are subject to the terms and conditions set out under Part VII clause 5 of these terms and conditions governing dunia Apps and dunia Apps World;

(iv) Protection benefits are provided through reputed insurance service providers. In doing so dunia merely is a facilitator and therefore takes no responsibility, liability or obligation in respect of the protection benefits. You are expected to assess the suitability, value and benefits of such protection before subscribing to them. dunia does 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 protection benefits. Whilst our representatives may be available to discuss the benefits offered, you are expected to assess for yourselves the suitability, value and benefits of such protection benefits to make the necessary decisions and to assume full responsibility for your decisions. Please refer to www.dunia.ae for detailed benefits and terms and conditions.

(v) We may, from time to time, change the service providers at our sole discretion. You will pay applicable fees for the services provided to you as specified in www.dunia.ae.

PART VIII: PAYROLL CARDS

Terms and Conditions for Payroll Cards

These Part VIII Terms and Conditions shall be applicable to Payroll Cards in addition to the Terms and Conditions of General Application set out in Part II save where such Terms and Conditions of General Application are in conflict with these Part VIII Terms and Conditions, in which event these Part VIII Terms and Conditions will govern.

1. GENERAL

1.1 We may offer an Employee a Payroll Card at our sole discretion if we are appointed as agent/bank for the Employer of such Employee in the context of WPS and the Employee qualifies for the Payroll Card which will allow the Employee to withdraw his/her salary using his/her Payroll Card in accordance with the guidelines and rules of WPS.

1.2 Every Payroll Card will also be subject to terms and conditions stipulated by the association issuing such card (such as MasterCard International Inc. or Visa Inc.) or as set out in the application form.

1.3 The Payroll Card will be dispatched to the Employer or Employee by Courier or by regular mail at the risk of the Employer or Employee, as applicable. Alternatively, we may request the Employer or Employee to collect it from our branch. On receipt of the Payroll Card, the Employee must sign on the reverse of the Payroll Card in the space indicated and call our phone banking unit to activate the Payroll Card, if it is not already activated. Prior to such activation the Payroll Card must not be used. If the Payroll Card is delivered to the Employer, it shall be the obligation of the Employer to deliver it to the Employee. The Payroll 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 Payroll Card has expired.

1.4 The use of the Payroll Card by an Employee will constitute binding and conclusive evidence of the Employee’s acceptance of these Terms and Conditions.

1.5 The Employee may not transfer the Payroll Card to any other party and it may be used only by the Employee. The Payroll Card must remain with the Employee at all times and the Employee shall be fully responsible for its safe custody and use. The Employee will also be liable for all transactions on the Payroll Card. The Employee may not use the Payroll Card as security or collateral.

1.6 We may issue a Personal Identification Number (PIN) or facilitate the selection of a PIN by the Employee for use with the Payroll Card as a security measure. Any such PIN must be kept safe and confidential and must not be disclosed to any third parties including the Employer. The Employee will be solely responsible for any unauthorized use of the PIN or the Payroll Card issued to the Employee.

1.7 Upon receipt of the necessary approvals under WPS and the relevant funds from the Employer, we will credit the salary of the Employee to his/her Payroll Card. The Employee may use the Payroll Card to withdraw his/her salary. Other than the foregoing and under clause 12 below, we have no obligation to credit the Payroll Card with any other amounts. We shall notify the Employer once the salary has been credited to the Payroll Card. The Employer shall be solely responsible to notify the Employee that the salary has been credited to the Payroll Card.

1.8 By issuing the Payroll Card, we do not and will not guarantee the payment of salary by the Employer to the Employee. The Payroll Card is merely used as a mode of payment of salary by the Employer and all obligations to pay the salary to the Employee shall remain with the Employer.

1.9 The Employee may be able to use his/her Payroll Card, within the validity period embossed on the Payroll Card, to:

(a) pay for purchases at supplier/merchants who accept MasterCard or Visa card (“point-of-sale transactions”); and/or

(b) withdraw cash at MasterCard/Visa automated teller machines (ATM).

1.10 We will credit the Payroll Card with the amount of any refund from a third party merchant or establishment only upon receipt of a credit voucher from the third party merchant or other establishment.

1.11 We shall be entitled to treat the following as evidence of a transaction concluded by the Employee through the use of a Payroll Card:

(a) any transaction record, credit voucher, cash disbursement slip or other charge record bearing the imprint or other reproduction of embossed information printed on a Payroll Card; or

(b) our record of any transactions effected by the use of a Payroll Card.

Our record of all transactions conducted by use of a Payroll Card shall be conclusive and binding for all purposes.

1.12 The Employee and Employer must familiarize themselves with various charges applicable to the issuance and use of the Payroll Card. These will be detailed in the fee schedule and other material accompanying the Payroll Card addressed to the Employer or Employee and disclosed in a schedule of Applicable Fees and which is also available on our website www.dunia.ae/fees. To know more the Employee may walk in to our nearest financial service centers/branches. We reserve the right to vary or change such charges from time to time as may be deemed fit.

1.13 Each time the Employee uses his/her Payroll Card, the amount of the transaction will be debited to the Payroll Card. The Employer or Employee shall pay us the charges incurred on the Payroll Card and agree that we may deduct these charges directly from the Payroll Card. We are authorized to debit the Payroll Card with all expenses relating to processing of transactions, fees and charges relating to the issue/reissue of the Payroll Card and any other charges relating to the use of the Payroll Card as may be decided from time to time in compliance with regulations.

1.14 All transactions and charges will be debited in UAE Dirhams and will be set out in the Payroll Card statement. The Payroll Card statement will be available on our website www.dunia.ae or, if requested by the Employee, will be emailed to the Employee at the address provided by the Employee or the Employee can request a hard copy of the statement at any of our branches. 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.

1.15 The Employee may call our 24/7 phone banking unit to obtain Payroll Card balances or to obtain the details of his/her recent activities or transactions.

1.16 If at any time the Employee does not wish to use the Payroll Card the Employee is required to cut it in half and return both halves to us. The Employee will be liable for all transactions and charges billed on the Payroll Card.

1.17 The Employee and the Employer undertake to act in good faith at all times in relation to all transactions and usage of the Payroll Card.

1.18 If the Payroll Card does not have sufficient funds to cover the amount of an authorization request, we reserve the right, at our sole discretion, to decline the transaction.

1.19 We may at any time, at our discretion, without prior notice, without giving any reason and without any liability to the Employer and/or Employee, refuse to authorize any transaction on the Payroll Card, or withdraw, restrict or suspend the Employee’s right to use the Payroll Card or impose limits on all or some categories of transactions carried out with a Payroll Card notwithstanding, inter alia, that there is adequate funds available in the Payroll Card.

1.20 We may from time to time at our discretion and without prior notice change the available benefits and the scope of the services provided by us in relation to the Payroll Card.

1.21 We have the right to cancel, suspend or withdraw the Payroll Card at our absolute discretion without giving any reasons. In such circumstances, we will notify the Employer in advance and agree on a mode of payment of the Employee’s salary to the Employee.

1.22 Use of the Payroll Card at any of our ATMs or of any other bank or financial institution with whom we have an agreement for the use of the ATMs shall be subject to any applicable daily withdrawal limit and charges.

1.23 The Employee will be responsible for all transactions undertaken through his/her Payroll Card regardless of whether (1) the transactions were processed with his/her knowledge or express or implied authority or (2) the transactions may be the result of a fraudulent act.

1.24 We may refuse to authorize a transaction proposed to be conducted with the use of a Payroll Card if we consider that the Payroll Card is being misused or if we suspect fraudulent use of the Payroll Card.

1.25 The obligations of the Employer and Employee herein may not be assigned or transferred in any way to any other party. We shall have the right at any time to transfer and assign the rights/obligations to any other party as may be deemed fit.

1.26 Use of the Payroll Card is subject to all applicable rules and regulations of any clearing-house or other association involved in transactions.

1.27 If any of these terms is found by a Court to be illegal or not enforceable, the remaining terms shall be valid and binding.

1.28 If the Employee disputes a debit to his/her Payroll Card as a result of an apparent transaction we shall investigate the transaction. If disputed amount was properly charged, we shall charge the Payroll Card a fee for the investigation.

2. EXEMPTION AND EXCLUSIONS

2.1 We shall not be liable to the Employee or Employer or to a third party for any failure in performing our obligations or providing any service including if the Payroll Card is not honoured or accepted or if the Employee, Employer or any third party incurs any loss or injury including by reason of any mechanical or other malfunction in connection with any computer, telecommunications, technical or non-technical failure

2.2 We are not responsible for any loss or damage arising as a result of us or any merchant supplier, member of card institution or bank or ATM declining to honour the Payroll Card or accept it or provide any cash withdrawal for any reason whatsoever, whether valid or not.

2.3 We are not responsible for any defects in or dissatisfaction with the goods and services purchased by the Employee through the use of the Payroll Card, or any breach or non-performance by supplier or retailer. If the Employee has any dispute with the supplier/merchant of any goods or services for which the Employee has paid with the Payroll Card. The Employee will liable to us for any debits on his/her Payroll Card and this liability will not affected by the dispute or claim against the supplier/merchant.

2.4 We are not liable, if the Employee is unable to use his/her Payroll Card for any of the following reasons:

(i) If the funds lying in the Payroll Card are subject to legal process or other restriction;
(ii) if circumstances beyond our control (such as fire, flood or computer or communication failure) prevent the completion of the transaction.

3. ISSUE OF SUPPLEMENTARY CARD

3.1 We may agree to issue one or more supplementary cards to persons nominated by the Employee and approved by us. The Employee and the supplementary card holder may both be required to complete necessary application forms.

3.2 The funds loaded from time to time on the primary Payroll Card shall be the available for withdrawal and use by the supplementary card holders. The Employee and the supplementary cardholder will be jointly and severally liable for all debts and outstanding incurred on primary and supplementary cards.

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

3.4 If the primary card is terminated or cancelled for any reason or is not valid, than the supplementary card will also cease to be valid.

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

4. LOSS OF CARD AND TERMINATION

4.1 The Employee will take all reasonable precautions to prevent the loss, theft and unauthorized use of his/her Payroll Card or any PIN issued by us. The Payroll Card is issued entirely at the risk of the Employer/Employee and we shall bear no liability whatsoever for any loss or damage arising from the issue, use or the inability to use of the Payroll Card, howsoever caused.

4.2 The Employee must notify us immediately of any loss or theft of the Payroll Card, and also notify the police authorities of the country where the loss occurred. The Employee will be fully liable for all debits to a lost or stolen Payroll Card unless he/she has notified us of the theft or loss and we have had a reasonable opportunity to block the use of the Payroll Card.

4.3 In case of loss or theft of a Payroll Card or PIN we may at our sole discretion issue a new Payroll Card or a new PIN. We may issue a new Payroll Card or PIN in case of a Payroll Card or PIN being compromised through use at a merchant or in a particular country. We may also levy a charge at our sole discretion for the same.

4.4 The Payroll Card may be terminated if the Employee:

(i) dies;

(ii) is legally incapacitated;

(iii) becomes bankrupt or insolvent;

(iv) no longer employed; or

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

5. SALARY ADVANCE

5.1 The Salary Advance Loan product will be offered to Employees who meet the eligibility criteria determined by dunia from time to time for this product. A Salary Advance loan product will, in addition to the terms and conditions appearing herein below also be governed by the Terms and Conditions for all Loan Products appearing in Part III above.

5.2 An Employee interested in availing a Salary Advance Loan must apply to dunia requesting the Salary Advance Loan. dunia may grant a Salary Advance Loan at its sole discretion and reserves the absolute and unqualified right to refuse an Employee’s Salary Advance Loan application without assigning or stating any reason(s) for such refusal. dunia may by notice to the Employee cancel its commitment to make available a Salary Advance Loan or reduce the amount of the Salary Advance Loan.

5.3 The amount of any Salary Advance Loan shall be determined by dunia in its sole discretion.

5.4 The Salary Advance Loan, if approved by dunia, will be disbursed by way of a banker’s cheque drawn in the name of the Employee and sent to the last known address of the Employee by courier or by way of loading of the principal amount of the Salary Advance Loan on to the Payroll Card or such other means as dunia deems fit.

5.5 Details of the applicable interest rate, fees, tenure of the Salary Advance Loan, a schedule of the monthly repayment installments including repayment of principal and interest and all other fees and charges applicable to the Salary Advance Loan will be provided in writing by dunia to the Employee.

5.6 The Employee agrees to repay the principal amount of the Salary Advance Loan and all interest, charges and fees applicable to the Salary Advance Loan and/or payable hereunder. The Employee hereby authorizes dunia to deduct amounts from the salary received by it from the Employer constituting amounts due and payable by the Employee under a Salary Advance Loan and credit the balance to the Employee’s Payroll Card.

5.7 The Employee may prepay the outstanding amount under the Salary Advance Loan to dunia in one lump sum payment. A prepayment fee at dunia’s prevailing rate shall be charged to the Employee in this case.

5.8 dunia reserves the right, at its sole discretion, to declare all outstanding amounts under the Salary Advance Loan and all fees, costs and interest accrued and unpaid thereon and all other amounts payable to dunia to be immediately due and payable, including when the Employee dies or his/her employment with the concerned Employer is terminated for any reason whatsoever.

5.9 dunia reserves the right to terminate and/or withdraw the Salary Advance Loan product without prior notice.

5.10 The Employee certifies that all information provided to us in connection with an application for Salary Advance Loan will be complete, true and accurate.

5.11 The Employee agrees that the Employee’s application and/or usage of a Salary Advance Loan product establish the Employee’s full and informed consent to these terms and conditions.

PART IX: UAE DIRECT DEBIT SYSTEM (UAEDDS)

1. RULES

1.1 By signing the appropriate direct debit request (the “Direct Debit Authority”) and agreeing to the terms and conditions attached thereto (the “Direct Debit Authority Terms and Conditions”), you authorize dunia to take all necessary or appropriate steps to allow for funds (the “Direct Debit Payment”) to be debited from your nominated account in accordance with your Direct Debit Authority to the financial institution in which you maintain your Account.

1.2 Please note that dunia will accept only a variable Direct Debit Authority. Any exception to this would be at the sole discretion of dunia. The maximum amount of each variable Direct Debit Authority shall be the greater of (i) AED 100,000 or (ii) the equated monthly installment for the Product multiplied by the tenure of the Product.

1.3 The acceptance of a Direct Debit Authority by your financial institution in relation to a Product shall be a condition to any disbursement of funds by dunia.

1.4 You acknowledge and agree that to the extent permitted by law:

(i) dunia may be required to instruct and communicate with other correspondent banks or financial institutions in order to give effect to your Direct Debit Authority. You hereby give your consent to such instructions and communication; and

(ii) any information (including, but not limited to the Direct Debit Authority) may be shared or transmitted by dunia to its correspondent banks or financial institutions.

1.5 In accordance with the Rules of the UAE Direct Debit System (UAEDDS) dated 1 May 2013 (as amended or supplemented from time to time) (the “Rules”), dunia shall notify you prior to submitting a request to debit your Account. Such notice shall be in accordance with the Rules (the “Notice”).

1.6 If the Notice provides for a debit payment to be made on a day that is not a business day, dunia may direct your financial institution to debit your Account within seven (7) business days immediately following such date.

1.7 You shall remain fully responsible and liable to pay any Direct Debit Payment(s) for which Notice has been issued regardless of whether or not you actually receive such Notice.

1.8 You acknowledge and agree that dunia may require you to sign multiple Direct Debit Authority forms (which may include an appropriate Direct Debit Authority amendment request (a “DDA Amendment Request”)) in respect of the Product(s) that you obtain. You agree that each Direct Debit Authority represents an independent obligation to pay on the stipulated payment date.

1.9 You acknowledge and agree that to the extent permitted by law:

(i) where a Direct Debit Authority is provided in relation to a credit card or loan, dunia remains free at any time to request further collateral or security to secure your payment obligations and to vary or amend the terms of your credit card or loan; and

(ii) dunia is authorized to complete and submit at any time a DDA Amendment Request as provided by you.

1.10 dunia shall forward any requests for cancellation and/or amendment of a Direct Debit Authority submitted by you within the mandated turnaround times as prescribed by the Rules.

2. CHANGES BY DUNIA

2.1 You acknowledge and agree that to the extent permitted by law, dunia may (but shall not be obliged to) amend or vary the terms of a Direct Debit Authority to give effect to the intention or purpose of your instruction or as a consequence of any amendments to the Rules.

2.2 Subject to clause 2.3, you acknowledge and agree that, in the event that the Direct Debit Authority allows for a variable sum to be deducted from your Account, dunia may debit such sums from your Account up to the prescribed maximum limit specified in your Direct Debit Authority.

2.3 It is acknowledged that dunia may amalgamate any unpaid Direct Debit Payment(s) with future Direct Debit Payment(s) with prior notice to you but that in all cases such amalgamated Direct Debit Payment(s) shall not be in excess of the prescribed maximum limit specified in your Direct Debit Authority. Amalgamation of an unpaid Direct Debit Payment shall not be permitted with respect to a fixed amount Direct Debit Authority.

3. RE-PRESENTATION OF AN UNPAID DIRECT DEBIT AUTHORITY

3.1 You acknowledge and agree that to the extent permitted by law, dunia may re-present a Direct Debit Authority which is returned unpaid.

3.2 The amount of the re-presented Direct Debit Authority shall be equal to the corresponding unpaid Direct Debit Payment.

3.3 You agree that you shall be liable to pay all charges and/or fees levied by dunia and/or your financial institution in respect of the re-presentation of a Direct Debit Authority.

4. CHANGES BY YOU

4.1 You acknowledge and agree that:

(i) a Direct Debit Authority is irrevocable and that you are not entitled to amend, cancel or stop any Direct Debit Authority in favour of dunia without obtaining dunia’s prior written consent; and

(ii) any such cancellation, amendment or stop order issued by you for which dunia’s prior written consent has not be obtained shall constitute an Event of Default under these General Terms and Conditions.

5. YOUR OBLIGATIONS

5.1 In addition to any obligations specified elsewhere in these General Terms and Conditions, the confirmation letter and the Specific Terms & Conditions, you undertake to ensure that:

(a) your Account allows Direct Debit Payments. If you are uncertain, you should check with your financial institution before completing a Direct Debit Authority;

(b) there will be sufficient clear funds available in your Account on the date a Direct Debit Payment is to be made. If there are insufficient clear funds available in your Account to meet a Direct Debit Payment: (i) you may be charged (or your Account may be debited with) a fee to reimburse us for charges that we have incurred for a Direct Debit Authority which is returned unpaid, (ii) you must arrange for the payment to be made by another method or arrange for sufficient clear funds to be in your Account immediately or within such other period as agreed to by dunia and (iii) you or your Account may be charged a fee and/or interest by your financial institution; and

(c) you will not use the UAEDDS for any fraudulent or other illegal purpose or to interrupt or damage dunia’s services.

5.2 You are not permitted to close your Account without making alternative arrangements with dunia and validly cancelling the Direct Debit Authority in accordance with the Direct Debit Authority Terms and Conditions.

5.3 You are solely responsible for ensuring that all details and/or information provided by you to dunia in relation to a Direct Debit Authority are true, accurate and not misleading. If the Account number that you have quoted is incorrect, you may be charged a fee to reimburse dunia’s costs in correcting any deductions from an account that you do not have authority to operate.

5.4 You undertake to inform dunia within two (2) business days should any details and/or information provided by you in relation to a Direct Debit Authority become false, incorrect or misleading.

5.5 To the extent permitted by law, you hereby indemnify dunia against all losses, damages and costs arising out of or in connection with the Direct Debit Authority, including but not limited to the presentation thereof or any funds collected pursuant to such Direct Debit Authority.

5.6 The payment mechanism as set out in these General Terms and Conditions is intended to supplement the Specific Terms & Conditions and is not intended to replace or supersede the Specific Terms & Conditions. If you do not make a payment of a Direct Debit Payment due under any agreement between you and dunia on time, such non-payment shall be considered an Event of Default.

5.7 You acknowledge and agree that you are solely responsible for verifying any sums debited from your Account.

6. CHARGES

6.1 You agree that you shall be liable to pay all charges and/or fees levied in respect of the registration, confirmation, amendment, cancellation, presentation and/or re-presentation of a Direct Debit Authority or the collection of a Direct Debit Payment.

6.2 You agree that any sums representing such charges and/or fees may be debited by dunia as part of your Direct Debit Payment.

6.3 The charges and/or fees referred to in clause 6.1 of these General Terms and Conditions shall be in addition to any late payment charges and overdue charges in accordance dunia’s schedule of fees and charges.

6.4 Notwithstanding clause 6.2 of these General Terms and Conditions, clause 16.3 of Part II of these General Terms and Conditions shall also apply to any overdue Direct Debit Payment(s) and all fees and/or charges levied in connection with such overdue Direct Debit Payment(s).

7. GENERAL

7.1 All forms submitted to dunia (including, but not limited to Direct Debit Authority forms) shall remain dunia’s property.

7.2 To the extent permitted by law, dunia may prevent you from using the UAEDDS immediately and without notice if you breach any of these General Terms and Conditions.

7.3 dunia cannot guarantee uninterrupted access to the UAEDDS and makes no guarantees whatsoever as to its operation, availability, functionality, that it will be free of error or disruption or otherwise.

7.4 The Direct Debit Authority Terms and Conditions and the Rules as specified by the Central Bank of the UAE shall be deemed to be incorporated into these General Terms and Conditions. All terms not defined in these General Terms and Conditions shall have the meanings given to them in the Direct Debit Authority Terms and Conditions and the Rules. In the event of any inconsistency between the Rules and these General Terms and Conditions, the Rules shall prevail.