Terms and Conditions

The customer - in his legal competency and capacity - has read, agreed and signed to be bound by the following conditions which are an integral part of the service application:

1. Definitions:

User: Means the customer or his authorized agent who is approved by the Corporation to have access to the Electronic Banking net and to process and Utilize Al Mal Capital Electronic Banking Services.

Al Mal Capital Electronic Banking Services: Means access to customer account through user ID and confidential number to process the required transactions.

2. The Corp. undertakes to execute all banking instructions and transactions received from customer through the Electronic Services provided that they comply to the corporation's work regulations, instructions of the concerned official authorities, and approved banking practices, at its own discretion.

3. The Corporation debits customer account for any transactions executed by him through Electronic Banking Services and customer agrees to pay fees determined by the Corp. for using this service which may be amended from time to time at its own discretions. The Customer permits deduction of such fees from any account he holds with the Corp.

4. Customer acknowledges his full responsibility for using this electronic facility as well as his responsibility regarding the person authorized by him to use the Electronic Banking Service and process transactions for safekeeping user ID and confidential number and not to disclose the confidential number to any party, any Corp. employee or any other person.

5. Customer acknowledges that the Corp. and its employees are not responsible for losses, damages, financial claims, or otherwise resulting from using the confidential number by unauthorized person. Further, he undertakes to notify the Corp. immediately - in writing - upon finding that the confidential number became known to others to enable the Corp. to take necessary actions. Customer shall be responsible for all transactions and instructions issued by him until the Corp.receives the written notification and informs him accordingly in writing.

6. Customer undertakes to maintain confidentiality of his accounts information, banking transactions, financial transfers and the like. Further, he shall be responsible for any unauthorized use and direct or indirect consequences thereto.

7. Customer acknowledges that he has no patent rights regarding the Electronic Banking software and documents and agrees not to allow his users to copy or amend such software or others to download or transfer the Electronic Banking software to similar electronic devices.

8. Customer agrees to view and print account statements from this service and allows the bank to discontinue periodic paper statements dispatched by post. Continuing to use this service is considered acceptance to this clause.

9. The Corp. may cancel the service at any time without notice to customer, and customer may cancel his subscription by a written request to the Corp. and he shall be responsible for all the services provided up to date of approval of the cancellation.

10. Customer agrees to authorize the Corp. to send all correspondence related to this service through e-mail or fax and undertakes to take all necessary precautions for confidentiality of correspondence and shall be responsible for the violations of this undertaking.

11. Customer agrees to authorize the Corp. to record all communications and instructions-including instructions of adding new users of Electronic Banking - and to use such voice recordings as evidences for contents therein in case of using the free toll number (Help desk).

12. Any delay or failure by the Corp. to practice any right or authority stated herein shall not be interpreted as waiver of such right or authority and the Corp. reserves the right of acting upon them at any time.

13. The corp. Reserves the right to amend these conditions and inform customer of such amendment(s). Customer's continuing use of the Electronic Services shall be approval of the amendment and customer may request amendment of the conditions with Corp. written consent.

14. These conditions shall be executed and interpreted according to Saudi regulations and all issues not addressed herein shall be subject to the same regulations. Competent Saudi courts shall govern disputes related to this service.