Terms and Conditions
The Internet Banking Service Terms and Conditions is a binding and legal contract between the Client and Al Baraka Islamic Bank B.S.C. Please read the following contents carefully before registering for Al Baraka Islamic Bank's Internet Banking Services. By agreeing to these Terms and Conditions, and by clicking the " I agree" icon, you hereby declare your undertaking to be bound by the terms and conditions set out herein, as they may be modified from time to time:
All Financial transactions are subject to limits as set out by the Bank.
Access, Security and Confidentiality:
All Banking transactions received during Banking hours on any Business day shall be processed on same day. Instructions received at any other time shall be processed on the following business day. It is the Client's sole responsibility to ensure that their chosen User Id and Password is kept safe and confidential, and the Client understands that the failure to protect the User Id and/or password may allow an unauthorized person or entity to access the account. The Client hereby agrees to indemnify and hold the Bank fully harmless for any loss, damages , costs or expenses incurred as a result or inconsequence of any fraudulent or unauthorized use of the Clients User ID and/or Password by any person or entity other than the Client, under any circumstances whatsoever.. The Client further agrees not to fraudulently use or abuse the Banks Online Service. For security reasons the Client will not transmit via e-mail any information of a sensitive or transactional nature. E-mail service should only be used for queries and general information on Bank Services. If for any reason the Bank rejects, at its sole discretion, to process any transaction(s) type(s), the Client understands and accepts that the Bank shall not be liable for such refusal.. The Bank may attempt to advise the Client but is not obligated to notify the Client accordingly. The Client acknowledges and agrees that the Bank may process any transaction upon instruction received from the Client. Once instructions have been accepted to debit the Client's account for any type of service, the Client may thereafter only cancel or amend the instructions PROVIDED the Bank has not yet acted upon such instructions. The Bank shall not be responsible, nor held liable for any erroneous payments, instructions or transactions whatsoever or howsoever caused including those arising out of incorrect data provided by the Client and the Client agrees to waive any right to request the Bank to refund such payments or request the Bank for reverse entry of funds transferred out of Client's account due to the erroneous payment instructions or transactions by the Client. It is the Client’s sole responsibility to ensure correct instructions are released to the Bank and to check their transactions regularly.
The Client irrevocably authorizes the Bank to effect reverse entry for any amounts erroneously transferred or credited to the Client's account, as beneficiary, from the Bank or from any other banks or financial institutions without any objection or liability on the Bank for making such reverse entry, once the reverse entry is detected by the Bank or notified to the Bank. The Client further acknowledges and agrees to waive any right that the Client may otherwise have for holding the Bank liable for any act, omission and/or delay by the Bank in processing or following the Client's instructions due to reasons beyond the Bank’s control.
Liability Limitation and Indemnity:
The Internet Banking Service is provided entirely at the sole risk of the Client. Under all circumstances the Bank will not be liable to the Client or any third party for any loss, expense, costs or damages, including without limitation, direct or indirect, loss of profits or business opportunity, special, incidental, consequential, punitive or exemplary damages, whether in contract, tort, negligence, strict liability or otherwise, arising out of or in consequence of the use or inability to use the On Line Service, or any portion thereof, by the Client or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus of the On Line Service howsoever caused, or in connection with the unauthorized access to or alteration of the Clients' transmissions or data or by reason of any third party services provided outside the Bank's reasonable control (including telephone and browser services). The Client hereby agrees to indemnify and hold the Bank fully harmless against all claims, liabilities and costs, including reasonable attorney fees, or defending any third party claim or suit against the Bank in connection with the use or failure to use the On line Service provided by the Bank.
The Client acknowledges and agrees that the information and material contained in the internet banking Service, including text, graphics, links or other items provided " AS IS" and " AS AVAILABLE". The Bank does not warrant the accuracy, adequacy or completeness of this information and materials. No warranty of any kind, express or implied, including, but not limited to, the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information and materials provided with the on line Service. The internal records of the Bank shall be conclusive evidence of all account balances and transactions as between the Bank and Client.
Internet Banking Service Agreement Cancellation and Account Services:
The Client may cancel their Online Banking Agreement with the Bank by giving written notice at any time. The Bank may delay cancellation (especially if accounts are to be closed simultaneously) to allow outstanding transactions to be completed. This includes repayment of any debit balance; check clearances and fees or charges. The Bank reserves the right to refuse access to the Internet Banking Service and May, at its sole discretion, cancel at any time all rights and privileges relating to the Service. In respect of Clients' who hold a joint account, the Bank will accept a cancellation authority and will terminate this service based on the written instruction received from either account holder. In cases where there is a disagreement between the joint account holders and the Bank has been informed in writing, the Bank shall accept this as notice to terminate such service for such joint account.
Costs and Secured Collateral:
The Client irrevocably and unconditionally, without any right of present or future objection, accepts all authorized debits and costs arising from the use of the service, without limitation. For Data Sharing and Marketing, the Bank may analyze transactional information or disclose Client information to third party providers in order to provide certain services. The Client may be contacted by the Bank/Third Party Provider with offers that may be considered to be of interest to the Client. The Bank may also have to disclose some information to legal advisers, court orders, auditors and regulatory bodies (in order to comply with relevant law). The Client acknowledges that the Bank may use or share the information given previously, together with this information in the future for these purposes.
Amendments to Terms and Conditions:
The Bank may from time to time amend the terms and conditions or provide a supplemental thereto. The Bank shall notify the Client via mail, electronic mail, through our website, via publishing in its Branches or by any other means. Any and all such amendments shall be deemed incorporated into the agreement and form part thereof upon notification in the manner specified hereinbefore.