Terms & Conditions
Article 1: Introduction:
Please read the Terms and Conditions of Kafaa Capital carefully before using the service. By using the service, you acknowledge and agree to the following:
Providing accurate and complete information during registration.
Registering for the service and providing up-to-date, complete, and accurate information in accordance with the terms of the registration application for opening an account with Kafaa Capital.
Bearing the responsibility for maintaining the confidentiality of the password and protecting your account from any unauthorized use.
Filling out and submitting the application is considered a declaration of your eligibility to open an account with the company and the validity of the company’s terms and conditions for providing the service to the user.
Complying with all local and international laws and regulations related to the use of the platform.
The company is committed to protecting user data and complying with local and international privacy laws.
You agree to indemnify and hold harmless Kafaa Capital, its shareholders, affiliates, directors, officers, or employees from any claims or damages, including attorney fees, that may arise from third parties related to your use or manner of use of the service.
You agree to refrain from attempting unauthorized access to the service, other accounts, applications, computer systems, or networks connected to the service through password mining or other methods or interfering with another member’s use or enjoyment of the service or the enjoyment of any other entity of similar services.
Kafaa Capital provides information and links to third-party websites.
Kafaa Capital does not in any way control the information, products, or services provided by third parties.
Information provided by Kafaa Capital in investment operations or in any other manner, about any securities offerings or obtained from third parties, is offered “as is” and “as available” without any warranties or conditions of any kind, express or implied, as to the accuracy of such information. The responsibility for such information lies with the party that provided or prepared it.
To the maximum extent permitted by applicable laws and regulations, Kafaa Capital disclaims liability under any circumstances, including but not limited to negligence, for any direct or indirect damages, consequential, incidental, or special damages that may arise from the use of the service, inability to use it, any changes to it, unauthorized access, alteration, or modification of your transmissions or data, or any transactions or deals conducted through the service.
Article 2: Risk Disclosure and Client Acceptance:
Investing in small and medium-sized enterprises involves high risks and may lead to the total loss of your investment. You should not invest money you cannot afford to lose, and in case of loss, it is limited to the invested amount only. Investing through Kafaa Capital is a medium-to-long-term investment suitable for medium-to-long-term investors. Current investment opportunities are designated for individuals residing in Saudi Arabia.
Users must carefully read this agreement as it explains the details of the service provided by Kafaa Capital and defines the obligations and rights between Kafaa Capital and the user.
The platform must not be used if all the provisions of the agreement are not fully understood and comprehended. This is the usage agreement for the Kafaa Capital platform, its subpages, and all contractual relationships with Kafaa Capital Company.
Article 3: Definitions:
Company: Kafaa Capital Company, holding Commercial Registration No. (1010911702), dated 14/8/2023, headquartered in Riyadh.
User: An individual or legal entity benefiting from the services of the Kafaa Capital platform.
Platform: The electronic platform, applications, channels, and digital websites on the internet owned by Kafaa Capital Company through which it provides its financial services to clients.
Issuer Default Risk: The risk of the partner company (the company) defaulting, leading to the bankruptcy of the Sukuk program and failure to fulfill part or all the financial obligations due to insolvency, resulting in a total loss for the investor (God forbid).
Behavioral and Administrative Change Risk: The risk of improper actions by employees or members, directly or indirectly causing financial losses or damages, potentially leading to insolvency.
Non-Diversification Risk: The risk of the investor failing to achieve portfolio diversification, which can be mitigated by distributing investment amounts across Sukuk from multiple companies.
Exit Difficulty: Special conditions related to the feasibility of exiting the investment, as there is currently no secondary market for trading Sukuk.
Cybercrime Law: Issued under Royal Decree No. (M/17) in the year 1428 H.
Anti-Money Laundering Law: Issued under Royal Decree No. (M/20) in the year 1439 H.
Article 4: Platform Description:
The platform is a digital medium or online application that enables users to access offers provided by companies listed on the platform through the issuance of debt instruments and investments therein. These investments are made based on an investment agreement. For this purpose, companies publish their information on the platform for users' investments. Kafaa Capital does not act as a contracting party; the investment agreement is solely between the users and the company being invested in.
Article 5: Responsibilities of Issuing Companies:
The issuing company inviting users to submit their offers based on a Sukuk issuance program must provide investment-related information on the Kafaa Capital platform.
Article 6: Disclaimer:
Kafaa Capital does not guarantee the authenticity, completeness, or accuracy of the data and reports provided by the issuing company.
Article 7: Service Development and Suspension:
Kafaa Capital continually strives to improve its services, which may necessitate the temporary or permanent suspension or cancellation of a service.
Article 8: Scope of Use:
The use of the platform is restricted to the Kingdom of Saudi Arabia only.
Article 9: Platform Operator and Provider:
Kafaa Capital Company is the operator and provider of the Kafaa Capital platform and its electronic applications. The services provided are subject to the current terms of Kafaa Capital, which must be adhered to as per the version in effect at the time of the user's registration.
Article 10: Registration:
The client must register as a user and complete all sections on Kafaa Capital’s platform or application.
Upon registration, the client enters into an agreement to use the platform, application, and channels operated by Kafaa Capital.
Kafaa Capital may verify the user through the "Yaqeen" service provided by "Elm." The client acknowledges the company's right to obtain all relevant data from data providers in Saudi Arabia and agrees that the company may use all digital and regulatory channels for oversight and supervision of the client relationship, per applicable laws in Saudi Arabia or any other country involved in financial services.
The user must have the legal capacity required to contract under the applicable laws.
Minors are not permitted to register.
Kafaa Capital may open a supplementary portfolio at the user’s request for use by persons under 18 years old.
The person requesting the opening of the supplementary portfolio bears full responsibility for its use, and it will be considered part of the user’s portfolio account.
Users of the supplementary portfolio can deposit or withdraw funds from the investment portfolio.
Users must provide all required data during registration, and they bear full responsibility for any incorrect data submitted during registration or at any stage of using the portfolio services.
Users must provide additional information to verify their identity or the reliability of any financing tool they register for use with Kafaa Capital.
Kafaa Capital or a third party it contracts with may conduct necessary investigations to verify the information provided, such as examining commercial databases or credit reports.
Kafaa Capital does not guarantee the results of identity verification procedures.
Users must promptly correct their data if it changes or is incomplete or incorrect.
Users must ensure the confidentiality of their password.
Unauthorized use of the user’s password or account must be reported immediately to Kafaa Capital.
Accounts may not be used by anyone other than the registered user, whether an individual or legal entity.
The user agreement becomes binding upon the user and the company when the user clicks the confirmation link sent via email.
The user agreement is valid indefinitely.
Both Kafaa Capital and the user may terminate the agreement at any time without prior notice, including deleting the user’s account.
All liability and indemnity provisions of this agreement remain applicable even after its termination.
Article 11: Investment Agency Agreement:
The client acknowledges completing all forms on the Kafaa Capital platform and adhering to all procedures, investment operations, and associated administrative actions.
The user agrees to invest in the issuing company according to its terms.
The minimum agreed investment amount for the issuance must be met for the investment agreement to become effective.
The user is bound by the investment agreement without requiring a separate agreement unless otherwise specified in the investment procedures or administrative, legal, or regulatory requirements.
The issuing company must adhere to the timeframe for offering investments on the Kafaa Capital platform.
Kafaa Capital is committed to providing all contracting parties with the necessary contact information for the other party.
Kafaa Capital will send all documents electronically through the user’s email and other communication channels agreed upon with the client.
The user is responsible for maintaining the confidentiality and safekeeping of all documents sent to them. The user also acknowledges the validity of all information and documents they provide electronically or physically to the company.
Article 12: Limitation of Liability:
Kafaa Capital is liable for damages resulting from gross negligence or willful misconduct. In cases of ordinary negligence, liability applies only if a breach of essential obligations necessary for the proper performance of the contract occurs, which the other contracting party relies upon.
In all other cases, neither party is liable for damages of any kind, regardless of the subject of the claim, including contractual liability.
If the investment agency agreement becomes void, the user’s potential claims against Kafaa Capital are limited to recovering the invested amount. Such claims are enforceable only through a final judicial ruling.
Kafaa Capital bears no additional liability beyond the scope mentioned above, including:
Characteristics of services,
Damages subject to product liability limits,
Damages resulting from loss of life, physical injury, or health issues.
Liability extends to Kafaa Capital employees, direct agents, and third parties contracted by the company to fulfill the agreement.
Kafaa Capital’s liability is limited to the regulatory approvals for its services and the scope of its financial services model. Compensation is capped at the annual fees collected from the client, provided a failure in delivering financial services is proven.
Article 13: General Risks:
The investor must acknowledge that investing in small and medium enterprises listed on the Kafaa Capital Platform carries a high level of risk and may lead to complete loss. The higher the expected return on investment, the greater the risk of loss.
The user must understand that investment is a long-term activity requiring evaluation of opportunities, total risk of loss, insolvency risks, market volatility, administrative behavior, risks associated with non-diversified investments, difficulty of exit, and risks related to investment activities, obligations, or future performance predictions.
Kafaa Capital is committed to its platform role and does not provide advisory services.
Issuing companies are responsible for the accuracy of submitted data, and Kafaa Capital disclaims responsibility for its credibility.
Kafaa Capital does not guarantee future projections of successful development provided by issuing companies. The user independently bears all investment decisions and any associated future risks.
The user has sole discretion in deciding whether to invest in a proposed company.
The user must review all relevant regulatory, economic, and tax implications before investing and during the holding period.
Article 14: Terms and Conditions:
Investment Agency Agreement:
All terms and conditions take effect upon the user's registration and selection to use the investment account services provided by the company.
Eligibility:
Investment account services and acceptance of this agreement are not permitted in the following cases:
If the user does not possess the legal capacity required to contract under applicable laws.
If the user is prohibited from using investment account services under the laws of the Kingdom of Saudi Arabia.
3- Agreement Terms and Language:
The user must review the agreement and its amendments on the website periodically.
The user must accept the agreement to access investment account services by clicking on the "Register," "Forgot Password," or "Login" buttons on the website.
The agreement is drafted in Arabic, and in the event of a discrepancy between the Arabic text and any other language, the Arabic text shall prevail.
This agreement governs the use of investment account services, including depositing funds, investment values, sukuk investments, and the withdrawal or recovery of funds.
Article 15: Wallet:
Wallet Definition
The wallet is an electronic financial account. The user acknowledges that it is not a bank account and does not offer banking services other than those specified in Article 12 of this agreement.
Wallet Services
The wallet provides the following services:
Subscription to sukuk issued on the platform.
Withdrawal of balances to the user's registered bank account.
Funding the wallet to enable investments in issuing companies.
Wallet Services Development:
Kafaa Capital Company reserves the right, at any time and from time to time, at its sole discretion, to modify or temporarily or permanently suspend the service (or any part thereof, including the transmission or delivery of related materials or documents) with or without prior notice. Additionally, Kafaa Capital Company reserves the right, at any time and from time to time, at its sole discretion, to change or terminate any content or features available on the website without prior notice. The user agrees that Kafaa Capital Company shall not be held liable to the user or any third party for any modification, suspension, or discontinuation of the service, content, or features provided on this website.
a. Kafaa Capital Company may introduce new services from time to time without prior notification from the user. The updated agreement, reflecting any amendments, will be made available through the website.
Wallet Liability Limitations
The user acknowledges that Kafaa Capital Company may cease to provide the services specified in the agreement at any time without prior notice to the user. Similarly, the user may discontinue using the services at any time without the need to notify Kafaa Capital Company.
Kafaa Capital Company may impose restrictions on the use of wallet services or ongoing transactions without prior notice, including but not limited to individual or aggregate transaction limits on the value or number of financial transactions within a specified time frame, and limits on account funding.
Kafaa Capital Company may restrict access to the wallet for specific amounts or periods deemed necessary to protect itself or other users under the following circumstances:
If Kafaa Capital Company is exposed to financial risks.
If the user violates the terms of this agreement.
If there is a dispute related to the wallet account or transactions conducted therein.
If necessary to protect the security of Kafaa Capital Company’s systems.
Kafaa Capital Company may restrict the user's access to the wallet account during investigations or settlements of any ongoing disputes.
Kafaa Capital Company may withhold funds in the wallet account in accordance with applicable regulations, court orders, or upon the request of a competent governmental authority.
Kafaa Capital Company may reject any withdrawal request from the wallet account.
The user retains the right to utilize the amounts shown in the available balance for investments and to transfer funds from the wallet account to the user’s personal account.
Article 16: Prohibited Payments:
Prohibited Cases
Kafaa Capital Company reserves the right to impose acceptable use conditions regarding the operation of accounts and the provision of wallet services, including prohibiting certain categories of financial transactions. The wallet must not be used for the following purposes:
Illegal purposes such as fraud, deception, and exploitation.
Money laundering activities.
Terrorism financing.
Other illegal or non-compliant activities within the Kingdom of Saudi Arabia.
If the user conducts or attempts to conduct any prohibited or illegal transaction, Kafaa Capital Company shall take legal action against the user in accordance with the Cybercrime Law, the Anti-Money Laundering Law, and other applicable regulations. Furthermore, Kafaa Capital Company reserves the right to claim compensation for misuse of the account by the user.
Article 17: Depositing and Receiving Funds
1. Terms of Deposit and Receipt:
Kafaa Capital Company is not liable for funds until they are received.
The customer agrees to appoint Arab National Bank as the custodian of client funds. The bank applies procedures for safekeeping and transferring funds in a collective account in accordance with regulations and instructions issued by the Saudi Central Bank (SAMA) through the bank’s digital channels. The customer acknowledges understanding these regulations and retains the right to appoint a third party to safeguard their rights against any deficiencies that may arise from the bank’s failure to apply the relevant procedures for safekeeping client funds.
Funds are credited on the business day they are received. If funds are received after service cutoff times, they will be considered as received on the following business day.
The user must regularly reconcile incoming funds with their records.
Kafaa Capital reserves the right to cancel any financial transaction if the payer, the bank, or the payment service provider reverses or is likely to reverse the payment from the wallet account.
The customer agrees that Kafaa Capital has the right to deduct and pay any fees or charges for its services or those charged by the bank for custody and transfer operations, as well as any other fees imposed by the bank, government taxes, or charges paid to third parties appointed to complete the services provided by Kafaa Capital Company. The customer also acknowledges the company’s right to receive any returns from the bank on funds held on behalf of clients, such as Murabaha returns.
2. Sending Payments and Their Methods:
Approval of any financial transaction constitutes authorization to execute that transaction.
The user authorizes Kafaa Capital to execute any transaction based on instructions displayed on the screen when using the website or any tools provided by the company.
The user must notify Kafaa Capital before sending payments to third parties.
Payments will be sent to the user’s registered bank account, debit card, or credit card.
Payment instructions must be sent exclusively through Kafaa Capital Company’s website. The user bears full responsibility for the accuracy and completeness of the instructions provided.
The user must provide accurate information about the payment recipient. The user assumes full responsibility for incorrect data entry, and Kafaa Capital Company is not liable for any resulting losses.
Kafaa Capital Company may make reasonable efforts to recover the user’s payments and has the right to charge the user for costs incurred during recovery.
The user must provide Kafaa Capital Company with any additional information requested regarding any payment within two business days of the request.
The user consents to Kafaa Capital Company including the user’s full name, address, account number, and any other necessary details in the payment data sent to the recipient’s bank or payment service provider in compliance with the Anti-Money Laundering Law.
Financial transaction instructions received before the service cutoff time on a business day will be processed on the same day. Instructions received after the cutoff time or on non-business days will be processed on the following business day.
The user must report any unauthorized, incorrect, or unlawful transactions to Kafaa Capital Company as soon as possible. Kafaa Capital Company is not liable for such transactions under any circumstances.
Kafaa Capital Company may reject financial transaction instructions for specific reasons. The company is obligated to explain the reasons for rejection and provide correction methods for any errors in financial transaction data. The company has the right to charge the user for expenses incurred during the process. Kafaa Capital Company is not obliged to process a payment if it is unlawful or non-compliant.
Article 18: Fees
Payment of Fees:
The user shall pay all fees required to utilize the platform’s services. Such fees may be paid directly to Kafaa Capital, its affiliates, or via the service provider's website. Kafaa Capital will notify users of applicable fees from time to time, with the fees determined at Kafaa Capital's sole discretion.
Fee Amount:
Kafaa Capital reserves the right to modify its fees at any time. Fees are calculated based on the value of transactions, including all applicable charges—such as taxes and others. All electronic funds, fees, and payments collected or made through the service are denominated in Saudi Riyals (SAR).
Error Corrections:
The user acknowledges authorizing Kafaa Capital to make credit or debit entries in the wallet account to rectify any errors in transactions.
Article 19: Duration and Termination of the Agreement
Effective Date of the Agreement:
This agreement takes effect from the earliest of the following: the date the user registers, resets their password, logs in, or uses Kafaa Capital services.
Termination of the Agreement:
The user may terminate this agreement at any time by contacting Kafaa Capital and closing their wallet account.
Kafaa Capital may terminate or suspend wallet services for any reason at any time, subject to prior notice to the user.
Suspension or Restriction of Wallet Access:
Kafaa Capital may suspend the service or restrict access to the user's wallet account in the following cases:
If the user violates the terms of this agreement.
If Kafaa Capital reasonably determines that the user exposes its services to credit, fraud, or illegal risks.
If the user is found to have provided misleading, false, incomplete, or inaccurate information or engaged in fraudulent or illegal activities.
If Kafaa Capital has security concerns regarding the wallet account, including credentials.
If Kafaa Capital suspects unauthorized or fraudulent activity on the wallet account or its payment data.
In such cases, Kafaa Capital will suspend the account and inform the user of the reasons for the rejection, where possible.
4- Post-Termination Procedures:
Upon termination, Kafaa Capital shall, upon the user's request, refund any remaining funds in the wallet account.
The user may request that Kafaa Capital transfer the funds to their bank account in cash.
Kafaa Capital does not commit to refunding such amounts within a specific timeframe but will endeavor to process the refund within a reasonable period upon receiving the transfer request.
Kafaa Capital will make every effort to refund the amounts using the user's chosen method but does not guarantee compliance with the user's preferred method.
Article 20: Privacy, Data Protection, Responsibilities, and Indemnities
1- Privacy Policy:
Kafaa Capital is committed to implementing a privacy policy accessible to data subjects when their personal data is collected. The policy shall specify the purpose of data collection, the type of data required, methods of collection, storage mechanisms, processing methods, destruction procedures, data subjects' rights, and how to exercise them.
Kafaa Capital shall use users’ personal data in accordance with the privacy notice and as outlined in this agreement.
Information Protection:
The user acknowledges their consent to the collection and use of their information by Kafaa Capital, as well as the circumstances under which it may be disclosed. The user is advised to review the privacy notice periodically.
Verification of Personal Data Accuracy:
Kafaa Capital strives to ensure the accuracy, completeness, and timeliness of personal data before processing, ensuring its relevance to the purpose for which it was collected, in compliance with applicable laws.
Disclosure of Personal Data:
Kafaa Capital is committed to maintaining the confidentiality of personal data except in the following cases:
With the consent of the data subject.
As required by applicable laws or regulations.
To fulfill the purposes for which the data was collected.
Where processing is necessary for legal or security purposes.
User Obligations:
The user represents and warrants the following:
They are qualified to register for and use wallet services, possess the legal authority, capacity, and ability to enter into this agreement, and grant the rights, licenses, and permissions to Kafaa Capital under this agreement.
The name provided during registration is their actual name or the trade name registered with the Ministry of Commerce.
They will not use the wallet on behalf of any individual or entity.
They shall comply with all applicable laws and regulations in the Kingdom of Saudi Arabia.
They will not use wallet services for fraudulent activities or in any way that disrupts the services.
They are not subject to any restrictions or listed on any prohibited or restricted parties’ lists, including but not limited to lists by the United Nations Security Council, the U.S. government (e.g., the Specially Designated Nationals List, Foreign Sanctions Evaders List, or Entity List by the U.S. Department of Commerce), the European Union, or other applicable governmental authorities.
Kafaa Capital and its affiliates make no representation or warranty regarding any of the following:
That the user's use of the wallet services and other payment services will meet the user’s requirements.
That the user’s use of the wallet services and other payment services will be uninterrupted, timely, secure, or error-free.
That all information obtained as a result of the user’s use of the wallet services will be accurate or reliable.
These terms, warranties, or other provisions shall apply only to the extent expressly stated in this Agreement.
Limitation of Liability:
This agreement shall not be interpreted to exclude or limit Kafaa Capital's liability for losses that cannot be excluded or limited under applicable laws.
Disclaimer of Liability:
Kafaa Capital and its affiliates shall not be liable for:
Loss of profits.
Loss of business.
Loss of revenue.
Total investment loss.
Loss of data.
Indirect or consequential losses.
Indemnities:
The user agrees to indemnify and hold harmless Kafaa Capital, its employees, directors, agents, and representatives, as well as its affiliates, from any claims, costs, lawsuits, demands, or liabilities arising from:
Any actual or alleged breach of the user’s representations, warranties, or obligations under this agreement.
Any infringement, misrepresentation, or actual or alleged violation of third-party rights by the user or their trademarks concerning the service during wallet use.
Any infringement, misrepresentation, or actual or alleged violation by the user related to their use of wallet services or any transaction initiated through the wallet.
Article 21: Data Protection Overview
Kafaa Capital prioritizes data protection to the highest degree. The data protection policy explains the types of information collected from users on Kafaa Capital’s website, the actions taken concerning such information, and how to access the available information on the website. It is important to note that the data protection policy may change from time to time; users should review the website periodically.
Information Collected by Kafaa Capital
When visiting Kafaa Capital's website without logging in as a user, the following information is collected:
Kafaa Capital's web servers.
The domain name used to access the internet.
The user's internet service provider (ISP).
The user's preceding and succeeding websites.
The information collected is not intended to identify individuals but is used for statistical purposes and to improve the website's appeal, content, and functionality. Kafaa Capital complies with all applicable data protection laws and regulations.
Data Protection:
The user grants full consent to Kafaa Capital when storing data in their profile and authorizes Kafaa Capital to use this data and make it available to listed companies in which the user has pledged to invest. The user also authorizes the availability of such data to payment service providers associated with the listed companies or Kafaa Capital for the purpose of disbursing amounts due to the user from their investments. This includes, but is not limited to: first name, last name, email address, phone number, permanent residence – including city, postal code, and country – personal identification number, gender, date of birth, nationality, investment amount, bank account number (IBAN), and banking information (BIC).
Collection and Processing of Personal Data:
Kafaa Capital collects personal data with the explicit consent of the user. The user has the right to withdraw this consent at any time, provided that such withdrawal does not affect the legality of the processing conducted based on the prior consent.
The user may be required to provide necessary data to access services, obtain information, log in, or provide Kafaa Capital with details about the user or their affiliated company. Such information may include the name, job title, email address, and other relevant details. In such cases, browsing the website in an anonymous mode will not be possible.
To submit investment requests or use certain services available through the website, the user may be required to provide additional information, such as their name, address, and banking details.
The user may be asked to provide information when submitting comments or participating in surveys.
Kafaa Capital, its affiliates, and service providers are committed to maintaining the confidentiality of user information. Such information will not be disclosed to third parties in any form or to individuals acting on behalf of Kafaa Capital, except with the explicit consent of the user. This includes the use of cookies.
Kafaa Capital uses cookies for the following purposes:
To enhance and simplify the user experience on the website and to organize and customize products and services according to the company’s interests and needs.
To collect anonymous user statistics, enabling Kafaa Capital to understand how visitors use the website and assist in improving its structure and content. It is noted that these statistics do not allow for the personal identification of users. Users have the option to disable cookie functionalities.
Data Usage and Sharing
When users provide information, Kafaa Capital uses it to deliver products and services and may share it with affiliated companies or contact the user as needed.
Data Retention
Kafaa Capital retains personal data as long as it is necessary to provide the requested service or as authorized by the user.
Kafaa Capital commits to retaining personal data only for the period required to achieve the purposes for which it was collected or as mandated by applicable laws and regulations. If the data is no longer required for any legal, practical, or regulatory purpose, it will be promptly deleted.
Security
Kafaa Capital implements all necessary technical and organizational security measures to protect the available information from manipulation, tampering, loss, damage, or unauthorized access. Security measures are continually reviewed and updated in line with the latest technologies.
Access to and Correction of Information
Users have the right to access, receive, review, and, if necessary, modify or delete all stored personal data.
Users have the right to access their personal data and request its correction or deletion at any time, in accordance with the applicable laws and regulations.
Intellectual Property and Copyrights
Kafaa Capital holds ownership of all copyrights for the content available on its website, mobile applications, and smart devices. These rights include, but are not limited to:
All documents, materials, and resources related to the service.
All texts, information, data, graphics, charts, tools, images, videos, fonts, music, sounds, HTML codes, and all other website components.
Designs, layouts, and arrangements specific to the website, By submitting or providing any material containing texts, information, data, graphics, charts, tools, images, videos, fonts, music, or sounds (for the purposes mentioned in this section) to Kafaa Capital’s debt instruments and investment services, the user acknowledges the intellectual property rights granted by law to Kafaa Capital for these services in a permanent and exclusive manner. Upon submission, the following terms apply:
The user acknowledges that Kafaa Capital has the right to retain the submitted information for purposes aligned with its privacy policy, and the rights granted by the user to Kafaa Capital are permanent. All usage of these services must comply with the laws of the Kingdom of Saudi Arabia. These terms and conditions apply to all users of Kafaa Capital’s services.
The user guarantees they have full rights to distribute or publish the submitted content.
The user agrees to indemnify Kafaa Capital for any damages arising from objections to the distribution or publication of the content, regardless of the outcome of such objections.
Trademarks
Trademarks are used by Kafaa Capital in connection with the services requested by the user. Any unauthorized use of these trademarks beyond the stated purposes is strictly prohibited without prior written consent from Kafaa Capital. Each request for consent will be considered individually.
Article 22: Conflict of Interest Policy:
Limitation of Liability:
Under no circumstances shall Kafaa Capital Company be liable for any direct, indirect, punitive, incidental, consequential, or any other damages (whether contractual, tortious, or otherwise) arising from the content or services provided on the Kafaa Capital platform/application, including, but not limited to: damages resulting from loss of profits or revenues, damages from corrupted or lost data, damages from viruses or other harmful software and data, damages from internet networks and webpages, any damages arising from economic or business losses, damages arising from decisions made by any party based on the service or its content or outcomes, any damages resulting from delay, failure, interruption, or corruption of data or information related to the use of the service, and any damages arising from inaccurate information, errors, or omissions related to the content and services provided on the Kafaa Capital platform. In all cases, the total liability of Kafaa Capital Company and its employees, agents, and representatives in relation to the content and services offered on the Kafaa Capital platform/application shall not exceed the total amount of registration fees or user fees paid for the use of the service, whether the liability is tortious or contractual.
Force Majeure:
Kafaa Capital Company shall not be liable for any obligation if an extraordinary event directly prevents it from performing its functions and responsibilities. Kafaa Capital Company shall not be responsible to clients for any failure or delay in fulfilling its obligations under this agreement caused by or arising from events beyond its direct or indirect control, including, but not limited to: strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural disasters, acts of God, or disruptions, loss, or failure in facilities or communications or technical services (software, applications, hardware), and human services. It is understood that Kafaa Capital Company will make reasonable efforts consistent with accepted practices in the fintech sector to resume performance as soon as possible under the circumstances.
Compensation. )Refer to the text at the beginning of these terms for consistency)
The user agrees to indemnify and hold harmless Kafaa Capital, along with its employees, directors, agents, and representatives, from any claims, costs, lawsuits, demands, or legal actions arising from any claim, lawsuit, audit, investigation, inquiry, or legal proceeding initiated by any person or entity for reasons related to:
Any actual or alleged breach of the user’s representations, warranties, or obligations under this agreement.
Any modification, false representation, or actual or alleged infringement of third-party rights by the user or their trademarks in connection with the service while using the platform/application services.
The user’s use of the platform/application services.
Any transaction submitted by the user through the platform/application services.
Article 23: Understanding the Terms:
The user acknowledges that they have read and understood this agreement and that they have been given the opportunity to ask any questions related to it. The user further agrees that this agreement will govern the relationship between them and Kafaa Capital.
Article 24: Governing Law:
This agreement is governed by and shall be interpreted in accordance with the laws and regulations of the Kingdom of Saudi Arabia. All disputes arising from this document shall be referred to the competent courts and committees in Riyadh.
Article 25: Customer Consent:
I affirm that the information provided in this application is entirely accurate and under my responsibility, and I agree that it shall be binding upon me. I authorize Kafaa Capital to contact me at any time. I consent to interactive analysis through the Kafaa Capital website and agree to provide Kafaa Capital with any information or data requested to establish, review, or manage my account. I also authorize Kafaa Capital to obtain any necessary or required information about me or any other account I hold with the Saudi Credit Bureau or any government authority. I further consent to the disclosure of my information and account details, or any other account I hold, to the Saudi Credit Bureau and/or any other entity approved by the Saudi Central Bank.
I confirm that I am the ultimate beneficial owner of the account being opened with Kafaa Capital.
Article 26: Contact with Kafaa Capital:
If the user has any questions or inquiries regarding these terms and conditions or how their personal data is processed, or any of our other services, they can contact us through the following methods:
Email: [email protected]
Phone: 920015309
Last updated: 24/01/2025
Terms & Conditions
Article 1: Introduction:
Please read the Terms and Conditions of Kafaa Capital carefully before using the service. By using the service, you acknowledge and agree to the following:
Providing accurate and complete information during registration.
Registering for the service and providing up-to-date, complete, and accurate information in accordance with the terms of the registration application for opening an account with Kafaa Capital.
Bearing the responsibility for maintaining the confidentiality of the password and protecting your account from any unauthorized use.
Filling out and submitting the application is considered a declaration of your eligibility to open an account with the company and the validity of the company’s terms and conditions for providing the service to the user.
Complying with all local and international laws and regulations related to the use of the platform.
The company is committed to protecting user data and complying with local and international privacy laws.
You agree to indemnify and hold harmless Kafaa Capital, its shareholders, affiliates, directors, officers, or employees from any claims or damages, including attorney fees, that may arise from third parties related to your use or manner of use of the service.
You agree to refrain from attempting unauthorized access to the service, other accounts, applications, computer systems, or networks connected to the service through password mining or other methods or interfering with another member’s use or enjoyment of the service or the enjoyment of any other entity of similar services.
Kafaa Capital provides information and links to third-party websites.
Kafaa Capital does not in any way control the information, products, or services provided by third parties.
Information provided by Kafaa Capital in investment operations or in any other manner, about any securities offerings or obtained from third parties, is offered “as is” and “as available” without any warranties or conditions of any kind, express or implied, as to the accuracy of such information. The responsibility for such information lies with the party that provided or prepared it.
To the maximum extent permitted by applicable laws and regulations, Kafaa Capital disclaims liability under any circumstances, including but not limited to negligence, for any direct or indirect damages, consequential, incidental, or special damages that may arise from the use of the service, inability to use it, any changes to it, unauthorized access, alteration, or modification of your transmissions or data, or any transactions or deals conducted through the service.
Article 2: Risk Disclosure and Client Acceptance:
Investing in small and medium-sized enterprises involves high risks and may lead to the total loss of your investment. You should not invest money you cannot afford to lose, and in case of loss, it is limited to the invested amount only. Investing through Kafaa Capital is a medium-to-long-term investment suitable for medium-to-long-term investors. Current investment opportunities are designated for individuals residing in Saudi Arabia.
Users must carefully read this agreement as it explains the details of the service provided by Kafaa Capital and defines the obligations and rights between Kafaa Capital and the user.
The platform must not be used if all the provisions of the agreement are not fully understood and comprehended. This is the usage agreement for the Kafaa Capital platform, its subpages, and all contractual relationships with Kafaa Capital Company.
Article 3: Definitions:
Company: Kafaa Capital Company, holding Commercial Registration No. (1010911702), dated 14/8/2023, headquartered in Riyadh.
User: An individual or legal entity benefiting from the services of the Kafaa Capital platform.
Platform: The electronic platform, applications, channels, and digital websites on the internet owned by Kafaa Capital Company through which it provides its financial services to clients.
Issuer Default Risk: The risk of the partner company (the company) defaulting, leading to the bankruptcy of the Sukuk program and failure to fulfill part or all the financial obligations due to insolvency, resulting in a total loss for the investor (God forbid).
Behavioral and Administrative Change Risk: The risk of improper actions by employees or members, directly or indirectly causing financial losses or damages, potentially leading to insolvency.
Non-Diversification Risk: The risk of the investor failing to achieve portfolio diversification, which can be mitigated by distributing investment amounts across Sukuk from multiple companies.
Exit Difficulty: Special conditions related to the feasibility of exiting the investment, as there is currently no secondary market for trading Sukuk.
Cybercrime Law: Issued under Royal Decree No. (M/17) in the year 1428 H.
Anti-Money Laundering Law: Issued under Royal Decree No. (M/20) in the year 1439 H.
Article 4: Platform Description:
The platform is a digital medium or online application that enables users to access offers provided by companies listed on the platform through the issuance of debt instruments and investments therein. These investments are made based on an investment agreement. For this purpose, companies publish their information on the platform for users' investments. Kafaa Capital does not act as a contracting party; the investment agreement is solely between the users and the company being invested in.
Article 5: Responsibilities of Issuing Companies:
The issuing company inviting users to submit their offers based on a Sukuk issuance program must provide investment-related information on the Kafaa Capital platform.
Article 6: Disclaimer:
Kafaa Capital does not guarantee the authenticity, completeness, or accuracy of the data and reports provided by the issuing company.
Article 7: Service Development and Suspension:
Kafaa Capital continually strives to improve its services, which may necessitate the temporary or permanent suspension or cancellation of a service.
Article 8: Scope of Use:
The use of the platform is restricted to the Kingdom of Saudi Arabia only.
Article 9: Platform Operator and Provider:
Kafaa Capital Company is the operator and provider of the Kafaa Capital platform and its electronic applications. The services provided are subject to the current terms of Kafaa Capital, which must be adhered to as per the version in effect at the time of the user's registration.
Article 10: Registration:
The client must register as a user and complete all sections on Kafaa Capital’s platform or application.
Upon registration, the client enters into an agreement to use the platform, application, and channels operated by Kafaa Capital.
Kafaa Capital may verify the user through the "Yaqeen" service provided by "Elm." The client acknowledges the company's right to obtain all relevant data from data providers in Saudi Arabia and agrees that the company may use all digital and regulatory channels for oversight and supervision of the client relationship, per applicable laws in Saudi Arabia or any other country involved in financial services.
The user must have the legal capacity required to contract under the applicable laws.
Minors are not permitted to register.
Kafaa Capital may open a supplementary portfolio at the user’s request for use by persons under 18 years old.
The person requesting the opening of the supplementary portfolio bears full responsibility for its use, and it will be considered part of the user’s portfolio account.
Users of the supplementary portfolio can deposit or withdraw funds from the investment portfolio.
Users must provide all required data during registration, and they bear full responsibility for any incorrect data submitted during registration or at any stage of using the portfolio services.
Users must provide additional information to verify their identity or the reliability of any financing tool they register for use with Kafaa Capital.
Kafaa Capital or a third party it contracts with may conduct necessary investigations to verify the information provided, such as examining commercial databases or credit reports.
Kafaa Capital does not guarantee the results of identity verification procedures.
Users must promptly correct their data if it changes or is incomplete or incorrect.
Users must ensure the confidentiality of their password.
Unauthorized use of the user’s password or account must be reported immediately to Kafaa Capital.
Accounts may not be used by anyone other than the registered user, whether an individual or legal entity.
The user agreement becomes binding upon the user and the company when the user clicks the confirmation link sent via email.
The user agreement is valid indefinitely.
Both Kafaa Capital and the user may terminate the agreement at any time without prior notice, including deleting the user’s account.
All liability and indemnity provisions of this agreement remain applicable even after its termination.
Article 11: Investment Agency Agreement:
The client acknowledges completing all forms on the Kafaa Capital platform and adhering to all procedures, investment operations, and associated administrative actions.
The user agrees to invest in the issuing company according to its terms.
The minimum agreed investment amount for the issuance must be met for the investment agreement to become effective.
The user is bound by the investment agreement without requiring a separate agreement unless otherwise specified in the investment procedures or administrative, legal, or regulatory requirements.
The issuing company must adhere to the timeframe for offering investments on the Kafaa Capital platform.
Kafaa Capital is committed to providing all contracting parties with the necessary contact information for the other party.
Kafaa Capital will send all documents electronically through the user’s email and other communication channels agreed upon with the client.
The user is responsible for maintaining the confidentiality and safekeeping of all documents sent to them. The user also acknowledges the validity of all information and documents they provide electronically or physically to the company.
Article 12: Limitation of Liability:
Kafaa Capital is liable for damages resulting from gross negligence or willful misconduct. In cases of ordinary negligence, liability applies only if a breach of essential obligations necessary for the proper performance of the contract occurs, which the other contracting party relies upon.
In all other cases, neither party is liable for damages of any kind, regardless of the subject of the claim, including contractual liability.
If the investment agency agreement becomes void, the user’s potential claims against Kafaa Capital are limited to recovering the invested amount. Such claims are enforceable only through a final judicial ruling.
Kafaa Capital bears no additional liability beyond the scope mentioned above, including:
Characteristics of services,
Damages subject to product liability limits,
Damages resulting from loss of life, physical injury, or health issues.
Liability extends to Kafaa Capital employees, direct agents, and third parties contracted by the company to fulfill the agreement.
Kafaa Capital’s liability is limited to the regulatory approvals for its services and the scope of its financial services model. Compensation is capped at the annual fees collected from the client, provided a failure in delivering financial services is proven.
Article 13: General Risks:
The investor must acknowledge that investing in small and medium enterprises listed on the Kafaa Capital Platform carries a high level of risk and may lead to complete loss. The higher the expected return on investment, the greater the risk of loss.
The user must understand that investment is a long-term activity requiring evaluation of opportunities, total risk of loss, insolvency risks, market volatility, administrative behavior, risks associated with non-diversified investments, difficulty of exit, and risks related to investment activities, obligations, or future performance predictions.
Kafaa Capital is committed to its platform role and does not provide advisory services.
Issuing companies are responsible for the accuracy of submitted data, and Kafaa Capital disclaims responsibility for its credibility.
Kafaa Capital does not guarantee future projections of successful development provided by issuing companies. The user independently bears all investment decisions and any associated future risks.
The user has sole discretion in deciding whether to invest in a proposed company.
The user must review all relevant regulatory, economic, and tax implications before investing and during the holding period.
Article 14: Terms and Conditions:
Investment Agency Agreement:
All terms and conditions take effect upon the user's registration and selection to use the investment account services provided by the company.
Eligibility:
Investment account services and acceptance of this agreement are not permitted in the following cases:
If the user does not possess the legal capacity required to contract under applicable laws.
If the user is prohibited from using investment account services under the laws of the Kingdom of Saudi Arabia.
3- Agreement Terms and Language:
The user must review the agreement and its amendments on the website periodically.
The user must accept the agreement to access investment account services by clicking on the "Register," "Forgot Password," or "Login" buttons on the website.
The agreement is drafted in Arabic, and in the event of a discrepancy between the Arabic text and any other language, the Arabic text shall prevail.
This agreement governs the use of investment account services, including depositing funds, investment values, sukuk investments, and the withdrawal or recovery of funds.
Article 15: Wallet:
Wallet Definition
The wallet is an electronic financial account. The user acknowledges that it is not a bank account and does not offer banking services other than those specified in Article 12 of this agreement.
Wallet Services
The wallet provides the following services:
Subscription to sukuk issued on the platform.
Withdrawal of balances to the user's registered bank account.
Funding the wallet to enable investments in issuing companies.
Wallet Services Development:
Kafaa Capital Company reserves the right, at any time and from time to time, at its sole discretion, to modify or temporarily or permanently suspend the service (or any part thereof, including the transmission or delivery of related materials or documents) with or without prior notice. Additionally, Kafaa Capital Company reserves the right, at any time and from time to time, at its sole discretion, to change or terminate any content or features available on the website without prior notice. The user agrees that Kafaa Capital Company shall not be held liable to the user or any third party for any modification, suspension, or discontinuation of the service, content, or features provided on this website.
a. Kafaa Capital Company may introduce new services from time to time without prior notification from the user. The updated agreement, reflecting any amendments, will be made available through the website.
Wallet Liability Limitations
The user acknowledges that Kafaa Capital Company may cease to provide the services specified in the agreement at any time without prior notice to the user. Similarly, the user may discontinue using the services at any time without the need to notify Kafaa Capital Company.
Kafaa Capital Company may impose restrictions on the use of wallet services or ongoing transactions without prior notice, including but not limited to individual or aggregate transaction limits on the value or number of financial transactions within a specified time frame, and limits on account funding.
Kafaa Capital Company may restrict access to the wallet for specific amounts or periods deemed necessary to protect itself or other users under the following circumstances:
If Kafaa Capital Company is exposed to financial risks.
If the user violates the terms of this agreement.
If there is a dispute related to the wallet account or transactions conducted therein.
If necessary to protect the security of Kafaa Capital Company’s systems.
Kafaa Capital Company may restrict the user's access to the wallet account during investigations or settlements of any ongoing disputes.
Kafaa Capital Company may withhold funds in the wallet account in accordance with applicable regulations, court orders, or upon the request of a competent governmental authority.
Kafaa Capital Company may reject any withdrawal request from the wallet account.
The user retains the right to utilize the amounts shown in the available balance for investments and to transfer funds from the wallet account to the user’s personal account.
Article 16: Prohibited Payments:
Prohibited Cases
Kafaa Capital Company reserves the right to impose acceptable use conditions regarding the operation of accounts and the provision of wallet services, including prohibiting certain categories of financial transactions. The wallet must not be used for the following purposes:
Illegal purposes such as fraud, deception, and exploitation.
Money laundering activities.
Terrorism financing.
Other illegal or non-compliant activities within the Kingdom of Saudi Arabia.
If the user conducts or attempts to conduct any prohibited or illegal transaction, Kafaa Capital Company shall take legal action against the user in accordance with the Cybercrime Law, the Anti-Money Laundering Law, and other applicable regulations. Furthermore, Kafaa Capital Company reserves the right to claim compensation for misuse of the account by the user.
Article 17: Depositing and Receiving Funds
1. Terms of Deposit and Receipt:
Kafaa Capital Company is not liable for funds until they are received.
The customer agrees to appoint Arab National Bank as the custodian of client funds. The bank applies procedures for safekeeping and transferring funds in a collective account in accordance with regulations and instructions issued by the Saudi Central Bank (SAMA) through the bank’s digital channels. The customer acknowledges understanding these regulations and retains the right to appoint a third party to safeguard their rights against any deficiencies that may arise from the bank’s failure to apply the relevant procedures for safekeeping client funds.
Funds are credited on the business day they are received. If funds are received after service cutoff times, they will be considered as received on the following business day.
The user must regularly reconcile incoming funds with their records.
Kafaa Capital reserves the right to cancel any financial transaction if the payer, the bank, or the payment service provider reverses or is likely to reverse the payment from the wallet account.
The customer agrees that Kafaa Capital has the right to deduct and pay any fees or charges for its services or those charged by the bank for custody and transfer operations, as well as any other fees imposed by the bank, government taxes, or charges paid to third parties appointed to complete the services provided by Kafaa Capital Company. The customer also acknowledges the company’s right to receive any returns from the bank on funds held on behalf of clients, such as Murabaha returns.
2. Sending Payments and Their Methods:
Approval of any financial transaction constitutes authorization to execute that transaction.
The user authorizes Kafaa Capital to execute any transaction based on instructions displayed on the screen when using the website or any tools provided by the company.
The user must notify Kafaa Capital before sending payments to third parties.
Payments will be sent to the user’s registered bank account, debit card, or credit card.
Payment instructions must be sent exclusively through Kafaa Capital Company’s website. The user bears full responsibility for the accuracy and completeness of the instructions provided.
The user must provide accurate information about the payment recipient. The user assumes full responsibility for incorrect data entry, and Kafaa Capital Company is not liable for any resulting losses.
Kafaa Capital Company may make reasonable efforts to recover the user’s payments and has the right to charge the user for costs incurred during recovery.
The user must provide Kafaa Capital Company with any additional information requested regarding any payment within two business days of the request.
The user consents to Kafaa Capital Company including the user’s full name, address, account number, and any other necessary details in the payment data sent to the recipient’s bank or payment service provider in compliance with the Anti-Money Laundering Law.
Financial transaction instructions received before the service cutoff time on a business day will be processed on the same day. Instructions received after the cutoff time or on non-business days will be processed on the following business day.
The user must report any unauthorized, incorrect, or unlawful transactions to Kafaa Capital Company as soon as possible. Kafaa Capital Company is not liable for such transactions under any circumstances.
Kafaa Capital Company may reject financial transaction instructions for specific reasons. The company is obligated to explain the reasons for rejection and provide correction methods for any errors in financial transaction data. The company has the right to charge the user for expenses incurred during the process. Kafaa Capital Company is not obliged to process a payment if it is unlawful or non-compliant.
Article 18: Fees
Payment of Fees:
The user shall pay all fees required to utilize the platform’s services. Such fees may be paid directly to Kafaa Capital, its affiliates, or via the service provider's website. Kafaa Capital will notify users of applicable fees from time to time, with the fees determined at Kafaa Capital's sole discretion.
Fee Amount:
Kafaa Capital reserves the right to modify its fees at any time. Fees are calculated based on the value of transactions, including all applicable charges—such as taxes and others. All electronic funds, fees, and payments collected or made through the service are denominated in Saudi Riyals (SAR).
Error Corrections:
The user acknowledges authorizing Kafaa Capital to make credit or debit entries in the wallet account to rectify any errors in transactions.
Article 19: Duration and Termination of the Agreement
Effective Date of the Agreement:
This agreement takes effect from the earliest of the following: the date the user registers, resets their password, logs in, or uses Kafaa Capital services.
Termination of the Agreement:
The user may terminate this agreement at any time by contacting Kafaa Capital and closing their wallet account.
Kafaa Capital may terminate or suspend wallet services for any reason at any time, subject to prior notice to the user.
Suspension or Restriction of Wallet Access:
Kafaa Capital may suspend the service or restrict access to the user's wallet account in the following cases:
If the user violates the terms of this agreement.
If Kafaa Capital reasonably determines that the user exposes its services to credit, fraud, or illegal risks.
If the user is found to have provided misleading, false, incomplete, or inaccurate information or engaged in fraudulent or illegal activities.
If Kafaa Capital has security concerns regarding the wallet account, including credentials.
If Kafaa Capital suspects unauthorized or fraudulent activity on the wallet account or its payment data.
In such cases, Kafaa Capital will suspend the account and inform the user of the reasons for the rejection, where possible.
4- Post-Termination Procedures:
Upon termination, Kafaa Capital shall, upon the user's request, refund any remaining funds in the wallet account.
The user may request that Kafaa Capital transfer the funds to their bank account in cash.
Kafaa Capital does not commit to refunding such amounts within a specific timeframe but will endeavor to process the refund within a reasonable period upon receiving the transfer request.
Kafaa Capital will make every effort to refund the amounts using the user's chosen method but does not guarantee compliance with the user's preferred method.
Article 20: Privacy, Data Protection, Responsibilities, and Indemnities
1- Privacy Policy:
Kafaa Capital is committed to implementing a privacy policy accessible to data subjects when their personal data is collected. The policy shall specify the purpose of data collection, the type of data required, methods of collection, storage mechanisms, processing methods, destruction procedures, data subjects' rights, and how to exercise them.
Kafaa Capital shall use users’ personal data in accordance with the privacy notice and as outlined in this agreement.
Information Protection:
The user acknowledges their consent to the collection and use of their information by Kafaa Capital, as well as the circumstances under which it may be disclosed. The user is advised to review the privacy notice periodically.
Verification of Personal Data Accuracy:
Kafaa Capital strives to ensure the accuracy, completeness, and timeliness of personal data before processing, ensuring its relevance to the purpose for which it was collected, in compliance with applicable laws.
Disclosure of Personal Data:
Kafaa Capital is committed to maintaining the confidentiality of personal data except in the following cases:
With the consent of the data subject.
As required by applicable laws or regulations.
To fulfill the purposes for which the data was collected.
Where processing is necessary for legal or security purposes.
User Obligations:
The user represents and warrants the following:
They are qualified to register for and use wallet services, possess the legal authority, capacity, and ability to enter into this agreement, and grant the rights, licenses, and permissions to Kafaa Capital under this agreement.
The name provided during registration is their actual name or the trade name registered with the Ministry of Commerce.
They will not use the wallet on behalf of any individual or entity.
They shall comply with all applicable laws and regulations in the Kingdom of Saudi Arabia.
They will not use wallet services for fraudulent activities or in any way that disrupts the services.
They are not subject to any restrictions or listed on any prohibited or restricted parties’ lists, including but not limited to lists by the United Nations Security Council, the U.S. government (e.g., the Specially Designated Nationals List, Foreign Sanctions Evaders List, or Entity List by the U.S. Department of Commerce), the European Union, or other applicable governmental authorities.
Kafaa Capital and its affiliates make no representation or warranty regarding any of the following:
That the user's use of the wallet services and other payment services will meet the user’s requirements.
That the user’s use of the wallet services and other payment services will be uninterrupted, timely, secure, or error-free.
That all information obtained as a result of the user’s use of the wallet services will be accurate or reliable.
These terms, warranties, or other provisions shall apply only to the extent expressly stated in this Agreement.
Limitation of Liability:
This agreement shall not be interpreted to exclude or limit Kafaa Capital's liability for losses that cannot be excluded or limited under applicable laws.
Disclaimer of Liability:
Kafaa Capital and its affiliates shall not be liable for:
Loss of profits.
Loss of business.
Loss of revenue.
Total investment loss.
Loss of data.
Indirect or consequential losses.
Indemnities:
The user agrees to indemnify and hold harmless Kafaa Capital, its employees, directors, agents, and representatives, as well as its affiliates, from any claims, costs, lawsuits, demands, or liabilities arising from:
Any actual or alleged breach of the user’s representations, warranties, or obligations under this agreement.
Any infringement, misrepresentation, or actual or alleged violation of third-party rights by the user or their trademarks concerning the service during wallet use.
Any infringement, misrepresentation, or actual or alleged violation by the user related to their use of wallet services or any transaction initiated through the wallet.
Article 21: Data Protection Overview
Kafaa Capital prioritizes data protection to the highest degree. The data protection policy explains the types of information collected from users on Kafaa Capital’s website, the actions taken concerning such information, and how to access the available information on the website. It is important to note that the data protection policy may change from time to time; users should review the website periodically.
Information Collected by Kafaa Capital
When visiting Kafaa Capital's website without logging in as a user, the following information is collected:
Kafaa Capital's web servers.
The domain name used to access the internet.
The user's internet service provider (ISP).
The user's preceding and succeeding websites.
The information collected is not intended to identify individuals but is used for statistical purposes and to improve the website's appeal, content, and functionality. Kafaa Capital complies with all applicable data protection laws and regulations.
Data Protection:
The user grants full consent to Kafaa Capital when storing data in their profile and authorizes Kafaa Capital to use this data and make it available to listed companies in which the user has pledged to invest. The user also authorizes the availability of such data to payment service providers associated with the listed companies or Kafaa Capital for the purpose of disbursing amounts due to the user from their investments. This includes, but is not limited to: first name, last name, email address, phone number, permanent residence – including city, postal code, and country – personal identification number, gender, date of birth, nationality, investment amount, bank account number (IBAN), and banking information (BIC).
Collection and Processing of Personal Data:
Kafaa Capital collects personal data with the explicit consent of the user. The user has the right to withdraw this consent at any time, provided that such withdrawal does not affect the legality of the processing conducted based on the prior consent.
The user may be required to provide necessary data to access services, obtain information, log in, or provide Kafaa Capital with details about the user or their affiliated company. Such information may include the name, job title, email address, and other relevant details. In such cases, browsing the website in an anonymous mode will not be possible.
To submit investment requests or use certain services available through the website, the user may be required to provide additional information, such as their name, address, and banking details.
The user may be asked to provide information when submitting comments or participating in surveys.
Kafaa Capital, its affiliates, and service providers are committed to maintaining the confidentiality of user information. Such information will not be disclosed to third parties in any form or to individuals acting on behalf of Kafaa Capital, except with the explicit consent of the user. This includes the use of cookies.
Kafaa Capital uses cookies for the following purposes:
To enhance and simplify the user experience on the website and to organize and customize products and services according to the company’s interests and needs.
To collect anonymous user statistics, enabling Kafaa Capital to understand how visitors use the website and assist in improving its structure and content. It is noted that these statistics do not allow for the personal identification of users. Users have the option to disable cookie functionalities.
Data Usage and Sharing
When users provide information, Kafaa Capital uses it to deliver products and services and may share it with affiliated companies or contact the user as needed.
Data Retention
Kafaa Capital retains personal data as long as it is necessary to provide the requested service or as authorized by the user.
Kafaa Capital commits to retaining personal data only for the period required to achieve the purposes for which it was collected or as mandated by applicable laws and regulations. If the data is no longer required for any legal, practical, or regulatory purpose, it will be promptly deleted.
Security
Kafaa Capital implements all necessary technical and organizational security measures to protect the available information from manipulation, tampering, loss, damage, or unauthorized access. Security measures are continually reviewed and updated in line with the latest technologies.
Access to and Correction of Information
Users have the right to access, receive, review, and, if necessary, modify or delete all stored personal data.
Users have the right to access their personal data and request its correction or deletion at any time, in accordance with the applicable laws and regulations.
Intellectual Property and Copyrights
Kafaa Capital holds ownership of all copyrights for the content available on its website, mobile applications, and smart devices. These rights include, but are not limited to:
All documents, materials, and resources related to the service.
All texts, information, data, graphics, charts, tools, images, videos, fonts, music, sounds, HTML codes, and all other website components.
Designs, layouts, and arrangements specific to the website, By submitting or providing any material containing texts, information, data, graphics, charts, tools, images, videos, fonts, music, or sounds (for the purposes mentioned in this section) to Kafaa Capital’s debt instruments and investment services, the user acknowledges the intellectual property rights granted by law to Kafaa Capital for these services in a permanent and exclusive manner. Upon submission, the following terms apply:
The user acknowledges that Kafaa Capital has the right to retain the submitted information for purposes aligned with its privacy policy, and the rights granted by the user to Kafaa Capital are permanent. All usage of these services must comply with the laws of the Kingdom of Saudi Arabia. These terms and conditions apply to all users of Kafaa Capital’s services.
The user guarantees they have full rights to distribute or publish the submitted content.
The user agrees to indemnify Kafaa Capital for any damages arising from objections to the distribution or publication of the content, regardless of the outcome of such objections.
Trademarks
Trademarks are used by Kafaa Capital in connection with the services requested by the user. Any unauthorized use of these trademarks beyond the stated purposes is strictly prohibited without prior written consent from Kafaa Capital. Each request for consent will be considered individually.
Article 22: Conflict of Interest Policy:
Limitation of Liability:
Under no circumstances shall Kafaa Capital Company be liable for any direct, indirect, punitive, incidental, consequential, or any other damages (whether contractual, tortious, or otherwise) arising from the content or services provided on the Kafaa Capital platform/application, including, but not limited to: damages resulting from loss of profits or revenues, damages from corrupted or lost data, damages from viruses or other harmful software and data, damages from internet networks and webpages, any damages arising from economic or business losses, damages arising from decisions made by any party based on the service or its content or outcomes, any damages resulting from delay, failure, interruption, or corruption of data or information related to the use of the service, and any damages arising from inaccurate information, errors, or omissions related to the content and services provided on the Kafaa Capital platform. In all cases, the total liability of Kafaa Capital Company and its employees, agents, and representatives in relation to the content and services offered on the Kafaa Capital platform/application shall not exceed the total amount of registration fees or user fees paid for the use of the service, whether the liability is tortious or contractual.
Force Majeure:
Kafaa Capital Company shall not be liable for any obligation if an extraordinary event directly prevents it from performing its functions and responsibilities. Kafaa Capital Company shall not be responsible to clients for any failure or delay in fulfilling its obligations under this agreement caused by or arising from events beyond its direct or indirect control, including, but not limited to: strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural disasters, acts of God, or disruptions, loss, or failure in facilities or communications or technical services (software, applications, hardware), and human services. It is understood that Kafaa Capital Company will make reasonable efforts consistent with accepted practices in the fintech sector to resume performance as soon as possible under the circumstances.
Compensation. )Refer to the text at the beginning of these terms for consistency)
The user agrees to indemnify and hold harmless Kafaa Capital, along with its employees, directors, agents, and representatives, from any claims, costs, lawsuits, demands, or legal actions arising from any claim, lawsuit, audit, investigation, inquiry, or legal proceeding initiated by any person or entity for reasons related to:
Any actual or alleged breach of the user’s representations, warranties, or obligations under this agreement.
Any modification, false representation, or actual or alleged infringement of third-party rights by the user or their trademarks in connection with the service while using the platform/application services.
The user’s use of the platform/application services.
Any transaction submitted by the user through the platform/application services.
Article 23: Understanding the Terms:
The user acknowledges that they have read and understood this agreement and that they have been given the opportunity to ask any questions related to it. The user further agrees that this agreement will govern the relationship between them and Kafaa Capital.
Article 24: Governing Law:
This agreement is governed by and shall be interpreted in accordance with the laws and regulations of the Kingdom of Saudi Arabia. All disputes arising from this document shall be referred to the competent courts and committees in Riyadh.
Article 25: Customer Consent:
I affirm that the information provided in this application is entirely accurate and under my responsibility, and I agree that it shall be binding upon me. I authorize Kafaa Capital to contact me at any time. I consent to interactive analysis through the Kafaa Capital website and agree to provide Kafaa Capital with any information or data requested to establish, review, or manage my account. I also authorize Kafaa Capital to obtain any necessary or required information about me or any other account I hold with the Saudi Credit Bureau or any government authority. I further consent to the disclosure of my information and account details, or any other account I hold, to the Saudi Credit Bureau and/or any other entity approved by the Saudi Central Bank.
I confirm that I am the ultimate beneficial owner of the account being opened with Kafaa Capital.
Article 26: Contact with Kafaa Capital:
If the user has any questions or inquiries regarding these terms and conditions or how their personal data is processed, or any of our other services, they can contact us through the following methods:
Email: [email protected]
Phone: 920015309
Last updated: 24/01/2025