Conditions
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means the account(s) you hold with us that are subject to these Terms.
ADGM
means Abu Dhabi Global Market.
Applicable Law
means ADGM laws (including but not limited to any laws and regulations issued by the FSRA), regulation, ordinance, rule, decree, voluntary code, directive, sanction regime in the ADGM.
Approved Third Party Platform
means any electronic channel, which: (i) is provided by a party other than us; (ii) is designed to deliver certain services to its users; and (iii) has been approved by us as a digital platform.
Authorized User
means any user authorised by you to manage, in whole or in part, your relationship with us.
Business Day
means Monday to Saturday from 8 AM to 5 PM and Sunday from 9 AM to 5 PM. Excluding any day in the UAE that is officially declared as a bank holiday, unless otherwise stipulated.
Channels
means all the channels through which the Services, Third Party Services will be offered to customers including but not limited to Digital Platform.
Dhabi Ltd. (Dhabi)
means Dhabi Ltd. which is a company incorporated under the laws of ADGM.
Digital Platforms
Any platform employed by Dhabi to deliver its services, including but not limited to the Mobile Banking App and any other digital medium. These platforms serve as Channels through which Dhabi conducts its various financial and banking services, enabling customers to access and engage with the provided functionalities and offerings.
FSRA
means Financial Service Regulatory Authority in ADGM
IBAN
means the International Bank Account Number allocated to your Account.
Liability
means any claims, demands, losses, damages, liabilities, actions, suits, proceedings, costs and expenses (including legal and any other professional advisers’ fees) and any other liability of whatever nature or description howsoever arising.
Mobile Banking
means the facility provided by us which allows you to access Account information, make funds transfers and access services we may provide on your mobile device via our Mobile Banking App as well as Third Party Services.
Mobile Banking App
means our mobile application, as may be introduced, replaced, updated, upgraded or modified from time to time, which allows you to access Account information and services using your mobile device.
Schedule of Fees
means the list of interest, fees and other charges which may apply to your Account.
Services
means the suite of banking services provided by Dhabi, including and not limited to the financial products, features, functionalities, and offerings made available through the Channels.
Telephone Banking
means the facility provided by us which allows you to access Account information, make funds transfers and access any other services that we may provide via the telephone.
Terms
means these terms and conditions.
Third Party Services
means any services provided by a third party whether directly or indirectly offered through any of the Services.
Third Party Provider
means any third party providing any services whether directly or indirectly offered through any of the Services.
UAE
means the United Arab Emirates, and “Emirate” means any one of the seven emirates.
USD
means US Dollars.
Website
means www.dhabi.com
We are Dhabi (“Dhabi”). An innovative bank licensed and regulated by the FSRA. We offer a diverse range of services including USD current & savings Accounts, fixed deposit Accounts,. With Dhabi, you can conveniently carry out financial transactions. We extend our services to customers worldwide, enabling them to securely hold their funds offshore through our platform. We do not have physical branches. Our registered office is one, floor 9, Al Sarab Tower, ADGM Square, Al Maryah Island, Abu Dhabi, UAE.
1.2. Applicability of these Terms
By opening an Account with us, you are entering into an agreement with us, Dhabi Ltd. (Dhabi). This agreement sets out the terms that govern your personal banking relationship with us. These Terms shall apply throughout your banking relationship with Dhabi. Where you choose to obtain additional products and services from us or Third Party Services, which are not covered under these Terms, we will provide you with additional terms that will apply to those specific products and services. In the event of conflict or inconsistency between terms, these Terms shall take precedence unless otherwise specified.
Our relationship is governed by these Terms and any additional terms and conditions specific to a Service (such as terms of use, a minimum balance of an Account, and applicable interest rate) or to a Third Party Service, which is notified to you (“Additional Terms”). Any terms and definitions used within these Terms can be found in Definitions. It is important that you read and understand these Terms and any applicable Additional Terms.
Dhabi will use electronic means to contract with you. This means you will accept terms and provide instructions through electronic means that are acceptable to us. Such electronic means will be binding on both of us as if such contract, terms, or instructions were executed, agreed upon, and accepted in hard copy and signed in wet ink.
You may be required to complete additional steps to use our Services and to provide consent electronically of any Additional Terms. You understand that such consent will be binding on you. Please read and acquaint yourself with section 2 which further sets out how we will contract with you.
By applying to open an Account, use the Digital Platform or effecting a transaction on an Account, or requesting or using a Service, you will be deemed to have accepted these Terms and the applicable Additional Terms and you agree to be bound by them.
To the extent there is any conflict between these Terms and any Additional Terms, the relevant Additional Terms will prevail.
If you fail to comply with any of these Terms, we have the right to disable your Account and block your access to our Services.
1.3 Changes to Terms and Additional Terms
Dhabi may at any time vary or replace these Terms and variation or amendments will be published on our website, we will notify you electronically upon any such variation.Any amendment or replacement will be effective from the date specified by Dhabi.
By continuing to access or operate an Account or use a Service, you will be deemed to have accepted the Terms and any Additional Terms applicable to that Account or Service as in force at the relevant time.
If Dhabi vary these Terms or any Additional Terms and you (a) do not agree to such changes and (b) notify us within thirty 30 days of notice of such change being given to you, you may request the closure of the affected Account or termination of the affected Service. Provided no outstanding Liabilities are due to us, such request may be made without charge.
1.4 Availability of Services
Dhabi Services will be provided through the Channels which will be subject to Additional Terms. What this means is that our Services may be unavailable from time to time for routine maintenance or any other reason. You will get an SMS notification prior to any maintenance occurring. The availability of the Services will be at our sole discretion subject to satisfaction of certain eligibility criteria and provisions of any other information we require. You must complete, submit, sign and/or accept all forms, mandates, schedules, documents and agreements required by us in relation to a Service. We may refuse to provide a Service or suspend or withdraw the availability of a Service. We will endeavor to provide our reasons for any such refusal or discontinuation where permitted under Applicable Law.
1.5 Dhabi Charges and Fees
You accept these Terms and Conditions throughout your banking relationship with us.
You can contact Dhabi using any of the methods set out below:
– by email to support@dhabi.com;
– by telephone on (+971) 2 619 4444;
2.2. Communications and Instructions
Dhabi will contact you using the contact details you provide to us. This may involve reaching out to you via mail, email, SMS, or telephone. It is of utmost importance that you verify the accuracy of your contact details. In the event of any changes to your contact information, it is imperative that you promptly inform us. Failure to do so will absolve us of responsibility in case you fail to receive crucial information, notices, or other important communications from our end.
Please note that we may record and monitor telephone calls with you to help improve our Services, or for security reasons.
You may submit instructions to us via any Digital Platform acceptable to us (“Instructions”). Instructions are irrevocably and unconditionally binding and are made at your sole risk and responsibility.
Dhabi is entitled (but not obliged) to act upon or rely on any Instructions even if made fraudulently and even if they conflict with the terms of any other instructions or mandates given by you at any time. We may delay or refuse to carry out an instruction if we have any concerns about the content, validity or authenticity unless this is resolved to our satisfaction.
You agree that Instructions may be recorded, replicated and/or stored and will be admissible as evidence in any court, arbitration or other proceedings.
Dhabi is authorized to accept, act and rely upon, and treat as valid and accurate all Instructions and are under no obligation to:
– verify the authenticity or validity of any Instructions;
– verify the identity or authority of any person giving an Instruction;
– verify the authenticity of any signature(s) on any Instruction; or
– seek your prior approval before acting on any Instruction.
Dhabi may in its absolute discretion, take steps to ascertain the validity, authenticity and origin of any instruction.
You are solely responsible for the accuracy and completeness of all of your Instructions (including those sent by your Authorized Users) to us. We are not liable for any error, omissions, mutilation, interruption or delay occurring in the transmission of such instructions.
After an Instruction has been submitted, we may not be able to process a request for the cancellation, reversal or amendment of a prior Instruction. In the event that you request us to cancel or modify any Instruction for whatever reason, we will make all reasonable efforts to comply with your request. However, we are not liable for any failure to cancel or modify the Instruction if such a request is received at a time or under circumstances that render us unable to comply with your request.
All Instructions received by us will be subject to cut-off times and daily limits prescribed by us from time to time and disclosed to you in accordance with Applicable Law. We may change such cut-off times and daily limits in accordance with Applicable Law. We accept no responsibility for any delay in effecting a transaction due to time constraints, time differences between regions or regional holidays.
You may issue an Instruction requesting us to forward certain information to third parties on your behalf. If we agree to act on such request, we will use reasonable efforts to forward any such information to the recipient and address specified in the relevant Instruction within a reasonable time of receipt of such Instruction. You must ensure the information we ask you to forward is complete, accurate and will not give rise to any claim against us (including without limitation any claim in defamation, in relation to privacy or for infringement of any other third party rights).
You acknowledge and accept the risk that Instructions may be intercepted, monitored, amended, corrupted, contain viruses or be otherwise interfered with by third parties and acknowledge and agree that we are not responsible or liable to you or any third party for, and you waive any and all claims in respect of, any losses arising from the same.
2.3. Language
English is the language of communication used by Dhabi. We will exclusively send all communications in English and make every effort to engage with you in this language.
Dhabi may offer different types of Accounts, each with different features as further described in section 3.4 below and any applicable Additional Terms. You may open one or more Accounts.
To open an Account, you must satisfy the applicable eligibility criteria for that type of Account and submit to Dhabi all required forms, information, and documents in a form acceptable to us.
Dhabi may convert an Account into a different type of Account or modify a Service, at any time, for whatever reason and without notice.
3.2. Know your customer (“KYC”)
Dhabi is required under law to know who our customers are and will ask you to provide ‘know your customer’ or ‘KYC’ information and documents for this purpose, both when you open your Account and throughout your relationship with us.
You agree to provide us with all information and documents that we request for the purposes of complying with our KYC obligations. You also agree to inform us of any changes in KYC information or documents provided to us when you opened your Account and to provide any updated information or documents that we may request.
This information may include, amongst other things, information on your identity, your place of domicile, residence, citizenship and your source of wealth. We will also request certain documents, including for example, your passport, your Emirates ID,Tax Identification document or other identification documents. Companies will at a minimum be required to provide their constitutional documents, as well as details of their shareholding, ultimate beneficiary ownership and authorised signatories.
You acknowledge that if you do not provide the information requested in a timely manner, or if you do not provide or withdraw any consents that we may need to process, transfer or disclose your information for the purposes of enabling us to meet our obligations, or if we have suspicions of financial crime or an associated risk, we may be unable to provide, or continue to provide, your Account and reserve the right to end our relationship with you and we may transfer or close your Account where permitted under the law.
3.3. Currency
Accounts are opened only in USD
Any instructions or transactions on an Account other than in the currency of the Account may incur a charge which will be disclosed to you in accordance with Applicable Law.Any interest earned or charged on a balance in an Account will be payable in the currency of that Account. Interest rates may be positive (in which case interest will be earned on that Account) or negative (in which case, interest will be charged to the Account).
Dhabi may permit a transaction under an Account in a currency other than the currency of that Account. We will, at all times, be entitled to convert any amount in a currency other than the currency of an Account into the currency of that Account.
All foreign currency exchange rates will be at our exchange rates prevailing at the time the relevant foreign currency transaction is affected by us as disclosed to you in accordance with Applicable Law. We reserve the right to charge fees and/or commission on any such conversions.
3.4. Types of Accounts
3.4.1. Current Account
A Current Account (the “Current Account”) exclusively facilitates online transfers for daily transactions, allowing transfer solely through online transfers. Credit balances on a Current Account will not bear any interest unless expressly specified in the applicable Additional Terms.
You can apply to open a Current Account if you meet the minimum criteria for Current Account pursuant to the relevant Key Facts Statement (“KFS”) available on our Mobile Banking App.You are required to maintain a minimum balance in your Current Account in order to remain active pursuant to the relevant KFS available on our Mobile Banking App.
You can manage your Current Account using Mobile Banking App, and Telephone Banking. There are a number of specific terms that apply to your Current Account, in addition to the applicable provisions set out elsewhere in these Terms. You should read these Account specific terms carefully and contact us if you need help in understanding anything.
3.4.2. Savings Account
A Savings Account (the “Saving Account”) is an interest-bearing account allowing transfer solely through online transfers that can be used for day-to-day transactions.
You can apply to open a Saving Account if you meet the minimum criteria for Saving Account pursuant to the relevant KFS available on our Mobile Banking App.
You are required to maintain a minimum balance in your Account in order to remain active and pursuant to the relevant KFS available on our Mobile Banking App. You can manage your Savings Account using Mobile Banking, and Telephone Banking.
There are a number of specific terms that apply to your Savings Account, in addition to the applicable provisions set out elsewhere in these Terms. You should read these Account specific terms carefully and contact us if you need help in understanding anything.
3.4.3. Term/Fixed Deposit Account
A Term Deposit Account (the “Term Deposit Account”) is a cash deposit Account made for a duration of time that is agreed between Dhabi and you.
A Term Deposit Account will bear interest at the rate and be calculated in the manner specified in the Schedule of Fees.
Withdrawals of all or any part of a term deposit prior to the agreed maturity date are subject to such conditions as determined by us. You acknowledge and accept that any early withdrawal of a term deposit may result in the application penalties, as specified in the Schedule of Fees.
3.5. Using an Account
The Account must be used in accordance with these Terms, any applicable Additional Terms, and Applicable Laws.
You must satisfy any applicable minimum balance requirements as determined by Dhabi and notified to you from time to time. You understand that Dhabi may impose fees if such a minimum balance is not maintained.
To use an Account, you must designate Authorised Users:
– If you are a legal entity, you must designate Authorized Users to manage your relationship with us, including operating Accounts, using Services and giving instructions on your behalf. You must complete all forms and submit all other documentation required (from time to time) by us for this purpose.
– If you are a natural person, you may designate Authorized Users with authority to operate Accounts, use Services and give instructions on your behalf. You must complete all forms and submit all other documentation required by us for this purpose.
You must inform us, without delay, on an ongoing basis, of any changes in authority or status with respect to the Authorized Users you have designated to operate the Account and/or use Services on your behalf.
You are responsible for verifying the identity of each Authorised User. You will ensure the Authorised Users only use the Services in accordance with these Terms, Additional Terms, and Applicable Laws.
3.5.1. Dormant Account
We will notify you of our decision to consider an Account as dormant. If no response is received from you and/or no transactions are initiated by you on the Account, we may take all steps we deem necessary in accordance with our policies and Applicable Law, (including to notify the competent authorities (including the FSRA of our decision to consider the Account as dormant, transfer amounts standing to the credit of a dormant Account or other unclaimed balances to a dormant account ledger maintained by us or the FSRA and to stop the frequency of any account statements in respect of such dormant Account). In such circumstances, amounts and balances transferred will not generate interest payments by the Bank or the FSRA. The FSRA assumes no responsibility to you as a result of such transfer (including in relation to any claims for interest, returns or profits).
You may re-activate a dormant Account by submitting a request to us. Until the re-activation of a dormant Account, we may impose precautionary measures such as rejecting transactions and/or restricting access to the Account. All charges and fees due to us will continue to accrue and will remain payable by you.
You may make a claim for the credit balance held in a dormant account or other unclaimed balances held by us by contacting us. We may request certain documentation from you to verify your identity in order to pay such amounts to you.
3.5.2. Account overdraft
Dhabi may permit overdrafts on Accounts or allow the Accounts to be overdrawn at our sole discretion, subject to these Terms and the Additional Terms applicable to the Accounts. Overdrafts are payable on demand so you should ensure you have sufficient funds to be able to repay when required by Dhabi.
We are not obliged to permit an overdraft on an Account to occur or continue. If we allow any overdraft to occur or an overdraft to be increased, for any reason, the amount overdrawn, together with interest and other charges, will be repayable immediately upon demand by us.
Overdrafts are subject to fees and charges. We will be entitled to charge interest on any overdrawn amount at such rate as we may from time to time determine and will be calculated in accordance with the Fee Schedule and will be debited from the Account at such intervals as we may determine. Any payment by you from an overdrawn Account will be applied by us first in settlement of interest and other charges on the overdraft and thereafter towards settlement of the principal amount of the overdraft.
We are entitled to debit your Account with the amount of any fees, charges, costs or expenses due to us, transactions accepted or made by you and to carry out any instructions relating to the Account even if doing so may cause the Account to be overdrawn or any overdraft to be increased.
3.5.3. Fund transfers
Dhabi may allow you to make fund transfers from time to time. You understand that fund transfers entail the use of electronic systems, Channels, networks and third parties (including intermediary banks) that are outside of our control. We are not responsible for any delays, failures, errors or other shortcomings in executing, processing or completing any transfer due to an electronic system, network or the actions of any third party (including any intermediary bank or foreign regulator). Such transfers are entirely at your risk.
Unless expressly advised by you, transfers will be affected in the currency of the country in which payment is to be made.
Unless otherwise specified, all charges incurred outside the UAE are for the account of the beneficiary.
You understand that funds transfers may not be instant and that it may take a number of Business Days (excluding any public holidays in the UAE and the country where the beneficiary’s account is located) for the funds to be received by the beneficiary.
3.6. Monitoring the Accounts
You must be vigilant and monitor your use of the Account. We will send an account statement for each Account to you at fixed intervals in accordance with our policies. You are responsible for keeping all your correspondence with us secure for future reference.
Any account statement delivered electronically will be deemed to constitute an account statement as required by Applicable Law and will, for all purposes, satisfy our obligations to deliver to you an account statement. You can view and request account statements on our Banking Mobile App.
You must review each account statement and notify us of any discrepancy within thirty (30) days of the statement date (and where you do not receive or are unable to access the account statement, such period will begin from the date you receive and are able to access the account statement after providing notice to us, failing which the account statement will be deemed to be correct (subject to our right to rectify any error) and accepted by you. You may not thereafter raise any objections to the account statement and the account statements maintained by us as to the status of your Accounts will be conclusive and binding on you.
It is your responsibility to notify us if you do not receive an account statement within one (1) month of the date on which the account statement should have been received or is otherwise unable to access an account statement within twenty-four hours of the date on which the account statement was received by or made available to you. Upon expiry of such period you shall be deemed to have received and accessed the account statement. We will not be liable for your non-receipt or late receipt of account statements.
Dhabi may refer to you, make available certain Third Party Services through our Digital Platform or otherwise provide information on Third Party Services. You agree to receive such information and acknowledge that we may receive fees from the Third Party Providers in return for our marketing or making available to the Third Party Services on their behalf through our Digital Platform.
Third Party Services are provided subject to additional terms and conditions of the Third Party Providers and may be subject to additional fees which we will disclose to you in accordance with Applicable Law. You agree to comply with all such additional terms and conditions. All Third Party Services will be accepted by you “as is” at your own risk. We make no representations and provide no warranties whatsoever, expressed or implied, and we will not have any Liability whatsoever, in respect of: (i) the scope, quality, merchantability, suitability or fitness for any use or purpose of any Third Party Services; or (ii) any offers, representations or commitments made to you by any Third Party Providers.
You agree that our role is limited to marketing or making a referral and we will not be responsible for the provision of Third Party Services or any Liability arising out of your relationship with the Third Party Providers of the Third Party Services, including for any negligence, breach of any statutory or other duty, or failure to comply with the terms and conditions of such Third Party Services, by the Third Party Provider and/or any other party associated in any way, directly or indirectly, with such Third Party Services.
You expressly acknowledge that you will only have recourse against the Third Party Providers and you will have no right of set-off or any other recourse against us. If there is any dispute between you and the Third Party Provider of any Third Party Service, your obligations to us will not in any way be affected by such dispute or any opposing claim or right of set-off that you may have against such Third Party Provider. You must raise any claims, complaints and/or disputes in relation to any Third Party Services directly with the relevant Third Party Providers. We will not, at any time, be deemed to be the supplier or issuer of any Third Party Services and unless otherwise expressly stated by us, we will not be deemed to be the agent or representative of any third party providing the Third Party Services.
You understand that Third Party Services are offered by third parties and outside of our control.
We make no promises about any Third Party Service, including without limitation its reliability, availability or ability to meet your needs. We provide Third Party Services “as is” We cannot and do not ensure continuous availability of Third Party Services. You understand and agree that a Third Party Service can change or be discontinued at any time without notice to you.
Subject to Applicable Law, we are entitled in our sole discretion to freeze, block transactions or put a hold on an Account or monies in an Account at any time if:
there is any breach of Applicable Law;
you have breached these Terms or any Additional Terms; the Account has a debit balance and in such case you will be obliged to pay us the amount of any debit balance with interest and other applicable charges;
we receive written confirmation or reasonably believe: (i) the death of the Account holder’s or legal disability (or, if you are a legal entity, confirmation of dissolution) until the relevant court appoints the legal successor; or (ii) in the case of a minor, the legal guardian’s death or legal disability;
we receive an order from a court or other regulatory authority, having jurisdiction over us, to suspend, freeze, block or put a hold on the Account;
we believe that funds in your Account have been obtained through unlawful means or that your Account is being used to effect suspicious transactions. Noting that in such a case, we may require you to provide any necessary documentation to verify the legality of the transactions in question;
your salary transfers (if applicable) to us cease or we believe that you are likely to lose your primary source of income, and you have existing obligations to make payments to us;
you do not comply with any of our requests; required to do so due to our policies or Applicable Law; or there are any other valid reasons why we consider it is necessary to do so.
We are not responsible for any loss to you arising out of any Account or transactions, as applicable, being suspended, frozen, blocked or put on hold.We are entitled to, and you authorize us to, debit the Account (in case of insufficient balance to overdraw the Account) if we have credited any funds to the Account in error without any Liability on us. You hereby waive any right to file any claim or lawsuit against us as a result of exercising our right under this clause.
6.2. Records
As a Digital Platform, we may not maintain paper records and our records may only be in electronic form. Our records (howsoever retained) of your dealings with us, including without limitation communications, statements and transactions, will be conclusive evidence of such dealing and will be binding on you.Any certificate issued, or decision made, by us about a matter or an amount payable in connection with these Terms or any Additional Terms will be conclusive and binding on you.
6.3. Severance
You agree that invalidity, illegality or unenforceability of any provision in these Terms will not affect or prejudice the other provisions of these Terms.
6.4. No Waiver & Assignment
A waiver by us of any provision of these Terms will only be effective if given in writing, and only to the extent that it is expressly given. If we fail to exercise or delay exercising any power or right, that failure or delay will not operate as a waiver and we can choose to exercise that power or right at a later time.We can transfer any of our rights or obligations (in whole or in part) in relation to any Service, these Terms and any Additional Terms to any third party at any time without obtaining your consent. You agree to sign or enter into any agreement or acknowledgment required by us to give effect to any such transfer, assignment or novation.
You cannot transfer any of your rights and/or obligations under an Account, these Terms and any Additional Terms to any party without our prior consent.
6.5. Termination
Our offering of any Service under these Terms is at our sole and absolute discretion and may be closed, suspended or discontinued, in whole or in part, temporarily or permanently at any time, for any reason. We will give you reasonable notice of any such closure, suspension or termination in accordance with Applicable Law except for Third Party Services. Please also see section 4. Where permitted by Applicable Law, we will endeavor to provide its reasons for any such closure or discontinuation.
You may request the termination of any Service offered under these Terms or request the closure of an Account at any time by giving us prior notice provided there are no outstanding Liabilities due to us. The precise notice period will differ depending on the Service being terminated or Account being closed. Unless expressly agreed to the contrary, you must provide us with at least fifteen (15) days’ prior notice in the case of closure of an Account or thirty (30) days’ prior notice in the case of termination of a Service.
Upon closure of an Account or termination of a Service, we have the right to:
– require the immediate settlement of all or any part of your Liabilities that remain outstanding;
– immediately enforce any collateral or security provided to us and exercise any of our rights in respect to such collateral or security;
– retain any of your funds in the Account until we are satisfied that all of your Liabilities due to us are or will be irrevocably and unconditionally discharged, in each case, without further notice to you or restoring to any further formal action, whether legal or otherwise; and or
– termination of Third Party Services to the extent feasible upon termination of Services.
Upon closure of an Account or termination of a Service, you must: (i) cancel all payments into and out of any closed Accounts.
Upon closure of an Account or termination of any Service will be without prejudice to any of our accrued rights prior to the date of termination.
Any provisions relating to or containing disclaimers, limitations on liability, indemnities, disclosure of information, rights of retention and security over any funds, set-off and tax will survive the termination of these Terms where applicable.
6.6. Survival of Terms
The closure of an Account or cancellation, expiry or termination of any Service will not affect any rights or obligations which have accrued prior to such cancellation or termination, or any provisions of these Terms which are intended (whether expressly or implicitly) to survive cancellation, expiry or termination.
6.7. Liability
6.7.1. Your Liability
We will notify you of our decision to consider an Account as dormant. If no response is received from you and/or no transactions are initiated by you on the Account, we may take all steps we deem necessary in accordance with our policies and Applicable Law, (including to notify the competent authorities (including the FSRA of our decision to consider the Account as dormant, transfer amounts standing to the credit of a dormant Account or other unclaimed balances to a dormant account ledger maintained by us or the FSRA and to stop the frequency of any account statements in respect of such dormant Account). In such circumstances, amounts and balances transferred will not generate interest payments by the Bank or the FSRA. The FSRA assumes no responsibility to you as a result of such transfer (including in relation to any claims for interest, returns or profits).
6.7.2. Dhabi Liability
You agree that we shall not be liable for any Liability arising out of or in connection with any event outside our control including (without limitation) acts of God, war, riots, hostilities, terrorist activity, pandemic, epidemic, local or national emergency, fire, natural calamities, explosions, strikes, court orders, legal restraints, any change in any law, failure of equipment or software, technical, power, communication or network malfunction or breakdown.
You agree that we shall only be liable to you for direct loss which has been finally judicially determined to have been caused by any fraud, gross negligence or willful misconduct on our part. You also agree that we are not liable for any indirect, incidental, or consequential loss or damage, including loss of profit, howsoever caused, whether foreseeable or not and regardless of whether we have received actual or constructive notice.
We expressly exclude any liability for loss or damage, which may be caused when we are acting in good faith and in compliance with these Terms and any applicable laws or where you are not acting in compliance with these Terms.
6.7.3. Complaints
During your relationship with Dhabi, you may wish to make a complaint in respect of Dhabi Services. We have procedures for handling your complaints fairly and promptly, and a copy of such complaint handling procedures is available upon request.
If you have a complaint, you may inform us through the Mobile Banking App on the service request section. Alternatively, you may use the email or telephone details available below:
– email: support@dhabi.com
– Telephone: (+971) 2 619 4444
6.8. Taxes
Your tax matters are your sole responsibility.
Unless expressly provided to the contrary, all amounts expressed to be payable by you are exclusive of any applicable taxes (including but not limited to value added tax (or any equivalent tax)). We are authorised to debit any Account with, or otherwise withhold, the amount of any applicable taxes required to be charged or withheld by us. If any applicable taxes are paid by us on your behalf, we will be entitled to debit your Account for any such amount and/or you must promptly reimburse us for such payment.
You understand that we may be required by law or by agreement with applicable tax authorities, to report certain information about you including but not limited to for the purpose of compliance with Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standards (CRS) requirements (or, in the case of legal persons, your direct and indirect owners or your trustees and beneficiaries) and your relationship with us, including information about the Accounts and other Services provided by us to you: (i) to the tax authorities in the country where we maintain Accounts for you, which may then pass that information to the tax authorities in another country where you may be subject to tax; or (ii) directly to the tax authorities in your country of nationality or residence or other countries where we reasonably determines or is required to presume you are subject to tax.
6.9. Set off
We may at our sole discretion at any time and without notice to you apply any:
– sum standing to the credit of your Accounts whether held by us or any other entity of Dhabi, on any of your Accounts or otherwise (of whatsoever description, whether held singly or jointly, wherever located such Account is denominated); and/or
– of your other funds in our custody or control including but not limited to securities, bonds, collateral, shares, shipping documents, banknotes, coins, gold or other valuables and property of whatsoever nature, in or towards the discharge of any of the Liabilities due to us (whether such obligations are actual or contingent, primary or collateral and joint or several).
To the extent that we exercise our right of set-off pursuant to this clause against any term deposit, you authorise us to, in our sole discretion, withdraw such amounts before the end of the agreed term of such term deposit. You understand that you may be liable for early withdrawal penalties or charges as a result of such early withdrawal.
Your consent to the collection, storage, use, and transfer (in electronic or other form) of your personal data by Dhabi and its affiliates (inside or outside of the UAE to the extent permitted by Applicable Law) for the purpose of making available the Services, as otherwise permitted under Applicable Law or as set out in our Privacy Policy. You understand that we may hold certain personal information about you, including, but not limited to your, name, home address, and telephone number, date of birth, identification number, salary, nationality, and job title for the purpose of implementing, managing and administering your accounts. Additionally, we may send you marketing information (e.g. newsletters, product information or event invitations) concerning products and services of interest to you, and your personal data may be used by us to submit offers to you and to provide you with the best possible service. We may use your personal data for market research, analysis and developing statistics. You can withdraw your consent at any time by notifying us as set out under section 2 except to the extent where withdrawal is not permitted under Applicable Law.You understand that data will be held only as long as is necessary to make available the Services. You understand that you may, at any time, view data, request additional information about the storage and processing of the data, require any necessary amendments to the data or refuse or withdraw the consents, in any case without cost, by notifying us as set out under section 2 except to the extent where withdrawal is not permitted under Applicable Law.
You authorize us and our representatives to contact you in relation to your product application(s). You understand that this authorisation overrides any prior communication from you requesting us not to contact you (by any means) in relation to those products.
Further details in respect of the collection, processing, transfer and disclosure of personal data are outlined in the Privacy Policy.
Subject to Applicable Laws, we will monitor and record your calls, emails, text messages, social media messages and other communications in relation to your dealings with us. We do this for regulatory compliance, self-regulatory practices, crime prevention and detection, to protect the security of our communications systems and procedures, to check for obscene or profane content, for quality control and staff training, and when we need to see a record of what has been said. If you take out an Account or use a Service, we may also monitor related activities where necessary for these reasons.
You understand and agree that we may disclose confidential information and your personal information:
– to our regulators and governing bodies;
– to any member of Dhabi (including their employees, directors and shareholders);
– to our professional advisors who are under a duty of confidentiality to us including market research organizations who help to improve our products or services;
– to any one that is our actual or potential assignee or transferee (or any agent or adviser of any of the foregoing);
– to the FSRA or any UAE court, tribunal or regulatory, supervisory, tax or other governmental or quasi-governmental authority having jurisdiction over us or any other members of the Dhabi’s entity, or any other court, tribunal or authority;
– to any credit reference agencies (including Al Etihad Credit Bureau), rating agency, insurer or insurance broker or direct or indirect provider of credit protection to us in connection with the Services fully acknowledging the consequences of such disclosure to your ability to access future financial products or services, whether from us or any other party;
– to any party that provides services to you through us as an intermediary;
– to any party that we reasonably believe to be acting on your behalf, payment recipients, beneficiaries of your Account, nominees, intermediaries, correspondent and agent banks, clearing houses, clearing or settlement systems, market counterparties, swap or trade repositories, stock exchanges or companies in which you have an interest in securities (where such securities are held by us for you);
– to any Third Party Provider of Third Party services and/or Investment services;
– as may be required or permitted by Applicable Law;
– as otherwise specified in these Standard Terms; and
– as may be required in order to preserve or enforce any of our rights or remedies against you.
You authorise us to obtain information, on an ongoing basis, from the Etihad Credit Bureau, banks and other financial institutions, your employer or any other body as we deem appropriate, about your financial and non-financial affairs which includes but is not limited to the details of your banking facilities, financial position, income and any other information relating to you which we deem appropriate without any further authorisation from you.You agree to provide any information or documents that we may require and waive any confidentiality rights applicable under data protection, bank secrecy or similar laws in respect of all such information which we may disclose in accordance with this clause.
7.2. Intellectual property
You understand and accept that any information, publications, marketing materials, software or other materials contained in or relating to any Account or Service (“IP Material”) are our property. You agree that you will not reproduce, adapt, reverse engineer, decompile, modify, distribute, display, transmit or otherwise exploit any IP Material in whole or in part or permit any other party to do so, or allow access to any other party without our prior written permission.
7.3. Sanctions and regulatory requirements
We are subject to strict legal and regulatory requirements. We are not obliged to take any action that may in our opinion amount to a breach of any: (i) Applicable Law; (ii) order of any competent court or other authority having jurisdiction over us, any member of the Dhabi or you; (iii) duty of care; or (iv) economic, financial or trade sanction or embargo. To comply with Applicable Law, we may take any measures we find necessary, including without limitation:
– Closing, suspending or freezing your Account, blocking your transactions and/or putting your Account and/or transactions on hold;
– suspending or terminating your use of any Service;
– investigating and intercepting payments into and out of any Account;
– investigating the source of or intended recipient of any funds; and
– reporting any suspicious or illegal activities or transactions to the competent authorities whether in the UAE or elsewhere.
You agree to comply with all applicable legal and regulatory requirements, including without limitation those relating to the prevention of bribery, corruption, fraud, money laundering and terrorist activity and the provision of financial and other services to persons or entities which may be subject to sanctions.
We will not be responsible for, and you agree to indemnify and hold us harmless from, any loss, claim, demand, expense, damage, cost, penalties, charges or legal costs: (a) arising out of our compliance with any Applicable Laws or agreements with tax authorities; (b) arising out of any failure or shortfall by us to comply with our obligations; (c) caused by your breach or non-compliance with these Terms and/or Applicable Laws; and (d) for any delays, suspensions, attachments, holds and/or any unavailability of funds due to our obligations under Applicable Law.
These Terms including any non-contractual obligations arising out of or in connection with them, will be governed by the laws of the ADGM.
We and you agree to the exclusive jurisdiction of the courts of ADGM (including the Small Claim Division) to settle any dispute arising out of or in connection with these Terms provided that we may bring proceedings in any other jurisdiction (inside or outside ADGM) if you deem appropriate.
You irrevocably waive all immunity (whether on the grounds of sovereignty or otherwise) that you or any of your funds or revenue may otherwise have in any jurisdiction from:
– the service of any process against you or your funds;
– any proceedings (whether for an injunction, specific performance, damages or otherwise) that we may bring against you or your funds;
– any attachment of your funds (whether before or after judgment); and
– any execution of a judgment against you, and, in each case, will ensure that neither you nor any person acting on your behalf will raise, claim or cause to be pleaded any such immunity at or in respect of any such action or proceeding.