Terms & Conditions
The following Terms and Conditions govern the use of FaisaNet and FaisaMobile, offered by the Maldives Islamic Bank. By using, FaisaNet and/or FaisaMobile, the Customer, hereby unconditionally and irrevocably accept and agrees to these Terms and Conditions.
These terms and conditions form the contract between Customer and the Bank shall be in addition to and not in substitution of other terms and conditions relating to any account of the Customer and/or respective product or the service provided by the Bank.
Please read the following Terms and Conditions carefully.
1. Definitions
1.1. Access Code means the Customer's Username, Password, One Time Password (OTP), PIN, Signature Code and any other codes provided to the Customer, from time to time, which enable the Customer to access and/or use FaisaNet/Faisa Mobile
1.2. Account means the Saving Account, Current Account, General Investment Account/Fixed Maturity Account and Financing Accounts of the Customer maintained with the Bank.
1.3. Application Form means designated form for the Service(s) which the Customer may apply to operate Bank Accounts of the Customer, either through FaisaMobile or FaisaNet.
1.4. Customer means an individual or organization who maintains an Account with the Bank.
1.5. Email means a message sent to the Customer from FaisaNet, which may contain an Access Code, notification message or any other information that the Bank may share with Customer.
1.6. F'isa or Faisa means the registered brand name (registered trademark) that the Bank uses for its electronic banking services.
1.7. F'isaNet or FaisaNet means the internet banking service provided by the Bank, whereby account holders of the Bank will have access to account(s), obtain account and/or banking related information and will be able to carry out certain banking transactions allowed by the Bank via a website over the internet.
1.8. F'isaMobile or FaisaMobile means the mobile banking service of FaisaNet extension provided by the Bank, whereby account holders of the Bank will have access to account(s), obtain account and/or banking related information and will be able to carry out certain banking transactions allowed by the Bank via mobile applications and FaisaNet over the internet.
1.9. F'isaToken or FaisaToken or Token is a physical device or software or mobile application used to generate OTP and/or Signature Code.
1.10. Maldives Islamic Bank or Bank or MIB means Maldives Islamic Bank Private Limited (Co. Reg. No.: C-0255/2010), a bank incorporated under the laws of Republic of Maldives.
1.11. One Time Password or OTP means a six-digit number generated from a Token which is valid for one login session or transaction.
1.12. Password is a confidential alphanumeric code provided by the Bank, which may subsequently be changed by the Customer.
1.13. Personal Identification Number or PIN means a numeric security code set by the MIB FaisaMobile user at the login of the mobile banking service provided by the bank.
1.14. Service means the banking services available through FaisaNet and FaisaMobile which enable the Customer to obtain information and/or to carry out banking transactions/services pertaining to the Account(s) through computer, telephone, tablet, smart phone and/or any other electronic device.
1.15. Signature Code means a six-digit number generated from a Token to authenticate certain types of transactions and is valid for a single transaction.
1.16. SMS means a text message sent to the Customer from FaisaNet or FaisaMobile which may contain an Access Code, OTP or notification message.
1.17. Statement of Account/ Account History means a statement containing details of transactions conducted during a specified period and the account history.
1.18. Terms and Conditions means these terms and conditions that govern FaisaNet and other banking services which the Customer maybe subject to.
1.19. Unauthorized Person means a person who is not authorized to have access to operate/maintain or deal with the account whatsoever of the Customer.
1.20. Username means a unique login name assigned to the Customer by the Bank.
1.21. Website means the official website of MIB.
2. Eligibility and Usage of Service
All Customers who maintain Account(s) with the Bank will be eligible to use FaisaNet and/or FaisaMobile Services by requesting for the Service as per the standard application procedures of the Bank.
3. Acceptance by the Customer
3.1 By accessing and/or using FaisaNet and/or FaisaMobile, the Customer acknowledges, accepts, understands and irrevocably and unconditionally agrees to be bound by the Terms and Conditions stated herein.
3.2 The Customer irrevocably and unconditionally accepts to be bound by any and all Services obtained through FaisaNet and/or FaisaMobile at Customer's own risk and liability. The records of any transaction processed through FaisaNet and/or FaisaMobile shall constitute to be binding and conclusive evidence of such Services for all purposes.
3.3 The Customer further acknowledges that any Services accessed or utilized through FaisaNet and/or FaisaMobile shall be subject to, but not limited to fees, expenses or charges relevant thereto, which the Bank may directly debit from the Customer's Account(s).
4. Transactions
4.1 The transaction limits can be revised at the discretion of the Bank.
4.2 The Bank reserves the right to reject any transaction due to any reason whatsoever.
4.3 The Bank will not allow transactions of any unrealized funds.
5. FaisaToken
FaisaToken provided for the usage of the Services is a property of Bank and must be returned immediately on cancellation or termination of FaisaNet and/or FaisaMobile Services, or at the request of the Bank.
6. Customer's responsibilities for security
6.1 The Customer undertakes not to disclose FaisaToken, Access Code or any confidential information relevant, either directly or indirectly to FaisaNet and/or FaisaMobile to any other unauthorized person and should at all times safeguard them from being divulged and/or being used by any other unauthorized person.
6.2 While using FaisaNet and/or FaisaMobile, if the customer details or transaction details entered proves to be incorrect, the Bank is not obliged to reverse any such transactions, neither in respect of MIB nor any other bank accounts.
6.3 The Customer should immediately inform the Bank in writing, if the Customer is aware, suspects or believes of a breach of security, or has lost or forgotten any of the Access Codes.
6.4 The Customer undertakes not to allow any other unauthorized person to operate the Customer's FaisaNet and/or FaisaMobile account on his/her behalf and not to leave the computer, mobile phone or any device unattended when the Customer is logged in to FaisaNet and/or FaisaMobile. The Customer also undertakes not to access FaisaNet and/or FaisaMobile from a computer, mobile phone or any device that may be monitored by another unauthorized person, where the Customer's Access Codes may be copied or obtained.
6.5 The Customer should comply with any other measures and requirements, which the Bank may advise from time to time.
7. Access and use of FaisaNet and FaisaMobile
7.1 The Customer undertakes only to use FaisaNet and/or FaisaMobile on a computer, tablet, mobile phone or other devices connected to the Internet, which is owned or rented by the Customer. MIB will not be responsible for any loss, damage or harm caused to any person as a result of not complying with this condition.
7.2 MIB will make every effort to make available FaisaNet and/or FaisaMobile for use, however the Customer understands and agrees that routine maintenance requirements, excess demand on the system and reason beyond control of MIB may cause disruptions in availability to access and use of FaisaNet and/or FaisaMobile. MIB will not be responsible if the Customer is unable to gain access and/or use FaisaNet and/or FaisaMobile due to reasons beyond its control, including without limitation, any computer and telecommunication, electrical, technical or network failure/malfunction.
7.3 Upon providing notice, MIB has the right to change the mode of operation, add or remove or otherwise change the Services provided under FaisaNet and/or FaisaMobile and close down FaisaNet and/or FaisaMobile temporarily or permanently.
7.4 The Customer is responsible to ensure that the computer, tablet, smart phone or any other device through which FaisaNet and/or FaisaMobile is accessed to be compatible with FaisaNet and/or FaisaMobile.
7.5 The Customer shall ensure that a computer, tablet, smart phone or any other device, for the use of FaisaNet and/or FaisaMobile is adequately protected against computer virus and/or any malicious software. MIB will not be responsible for any unauthorized access and or use by a third party and/or corruption of data being sent through FaisaNet and/or FaisaMobile.
8. Instructions by the Customer
8.1 Any instructions given through FaisaNet and/or FaisaMobile or using FaisaToken assigned to the Customer, will be deemed genuine and to have been authorized by the Customer. MIB will act on any such instruction without any further written or confirmation from the Customer.
8.2 The Customer agrees that MIB will not be liable in any manner for, including but not limited to, the following:
8.2.1 Any failure to act upon any instructions or to provide the Services for any reason that is beyond MIB's control;
8.2.2 Acting in good faith on any instructions received by MIB;
8.2.3 Any error, default, delay or inability to act on all or any instruction(s) given through FaisaNet and/or FaisaMobile;
8.2.4 Loss of any instructions given through FaisaNet and/or FaisaMobile;
8.2.5 Unauthorized access to FaisaNet and/or FaisaMobile by any other person;
8.2.6 Any loss or damage that may arise or be incurred directly or indirectly by reason of MIB carrying out the Customer's instructions or failure of FaisaNet and/or FaisaMobile;
8.2.7 Any additions, changes or deletions to/from these Terms and Conditions;
8.2.8 Any changes to the operation of FaisaNet and/or FaisaMobile;
8.2.9 Any changes to MIBs or FaisaNet and/or FaisaMobile daily cut-off times;
8.2.10 Any partial, incomplete, late or failed transfer or bill payment through FaisaNet and/or FaisaMobile.
8.3 Any information given by the Customer is deemed correct and MIB will be entitled without any obligation, to review or monitor such information for security, administration or any other purpose.
8.4 MIB will act on Customer's instructions in accordance with its cut-off times as notified by MIB. In absence of such notice, MIB will act on Customer's instructions as per the normal banking hours.
8.5 All transfers involving foreign currency may be converted into local currency at MIB's buying rate, unless the Customer has made special arrangement with MIB.
8.6 The Customer agrees that MIB may, in its sole discretion, refuse to carry out any instructions given in relation to FaisaNet and/or FaisaMobile, if the Bank reasonably believes that the instructions are not genuine or otherwise improper or unclear or raise any doubt or in case any instructions appear to be illegal or suspicious in any respect.
8.7 The Customer undertakes to check the Statement of Accounts for any unauthorized transaction(s) or discrepancies, and if any such exists, should inform MIB within 24 hours of transaction time. MIB will not be responsible in any manner if it has reason to believe that such discrepancies resulted due to any reason not attributable to MIB. If the Customer fails to notify MIB within the specified duration, it will be considered correct and accepted by the Customer.
8.8 The Customer understands that no written advice or confirmation will be made and or issued from MIB for any transactions conducted through FaisaNet and/or FaisaMobile, although such transaction will be recorded in the Statement of Accounts. MIB may notify the Customer of transactions made, via SMS, Email or any other method available to MIB. However, it is not an obligation or responsibility of MIB to notify the Customer about transactions made from FaisaNet and/or FaisaMobile.
8.9 The customer will not withdraw and/or transfer any unrealized funds.
9. Charges
The Bank is entitled to charge the Customer respective fees for the use of FaisaNet and/or FaisaMobile in accordance with MIB's List of Bank Charges.
10. Liability for loss or damage
10.1 Subject to the Terms and Conditions and without prejudice to the rights of MIB hereunder, MIB will take reasonable and practical steps to ensure that its systems connected to FaisaNet and/or FaisaMobile are adequately secure and to manage and control the risks in operating the systems.
10.2 MIB will not be liable for any loss or damage of any nature, whether direct or indirect or consequential to the Customer including successors, executors and administration as a result of making FaisaNet and/or FaisaMobile available to the Customer, and such loss or damage may include without limitation to the following:
10.2.1 Execution of the Customer's instruction being delayed or not being acted upon by MIB;
10.2.2 Customer reliance on the information provided on FaisaNet and/or FaisaMobile;
10.2.3 Any access by an authorized third party to information about the Customer Accounts.
10.3 The Customer will indemnify MIB, its employees, agents, representatives and nominees in full basis from and against all actions, claims, proceedings, demand losses, damages, harms (including direct or consequential), costs, expense, charges taxes, penalties and legal costs and any other liabilities of any nature, which MIB may incur, suffer by reason of Customer's accessing and/or use of FaisaNet and/or FaisaMobile.
10.4 The Customer can upload their own image/picture/photo to FaisaMobile Application. The Customer shall be solely liable for any cost or damage arising from the use of copyrighted materials.
10.5 The image/picture/photo uploaded by the Customer to FaisaMobile will be available to third party view. In any event the Bank shall not be held liable for the misuse of such image by a third party.
11. Status and availability of information
Information available through FaisaNet and/or FaisaMobile concerning transactions and Account balances may not always be completely up to date, although, in most cases they should at least reflect the transactions and balances of an Account up to the close of business on the previous day on which the Bank was open for general banking business. Not all Services and functions offered through FaisaNet and/or FaisaMobile are available at all times.
12. Use of information and materials
12.1 The Customer understands and agrees that the information and materials available through FaisaNet and/or FaisaMobile are subject to change by MIB. Unauthorized use of FaisaNet website, FaisaMobile applications and/or the website of MIB and systems, including but not limited to, unauthorized entry, misuse of passwords or misuse of any information posted is strictly prohibited.
12.2 The Customer agrees that by making available FaisaNet and/or FaisaMobile, MIB is granting the Customer a non-exclusive, non-transferable, temporary permission to use FaisaNet and/or FaisaMobile and this permission is restricted to authorized and legitimate access and use of FaisaNet and/or FaisaMobile. All information, materials, trademark(s) and name(s) given belongs to MIB. In this regard the Customer agree as follows:
12.2.1 Not to use the information/materials except in connection with access and use of FaisaNet and/or FaisaMobile;
12.2.2 Not to make/take copies, sell, assign, commercially rent, sub-license, otherwise transfer the same to any third parties/persons;
12.2.3 Not to attempt, reverse engineer, attack, try to break the service down or tamper with the systems/software related to FaisaNet and/or FaisaMobile.
13. Suspension of User Accounts
The Bank reserves the right to temporarily or permanently, suspend/close user accounts (or any Service availed under FaisaNet and/or FaisaMobile) and/or refuse to provide FaisaNet and/or FaisaMobile Service to the Customer at any time.
14. Miscellaneous
14.1 These Terms and Conditions are in addition to the terms and conditions of all other banking services which the Customer maybe subject to, and therefore shall be read together.
14.2 If any of the provisions of the Terms and Conditions stated herein is unenforceable, the other terms and conditions remain valid and will not affect its enforceability.
14.3 Any waiver or relaxations given by MIB will not be construed a waiver permanently and such waiver will not adversely affect the rights of MIB at any other time.
14.4 MIB has the right to unilaterally change or alter these Terms and Conditions at any time as solely determined by MIB.
14.5 The image/picture/photo uploaded by the Customer shall not be offensive, sexual, political, racial, non-shariah complaint, prejudicial in nature, branded products/services, advertisement, celebrities/musicians/athletes/entertainers/public figures of any nature or the usage rights of which is restricted under any registered patent or copyrighted material.
14.6 The Bank reserves the right to remove or delete any images/pictures/photo uploaded by the Customer, if it is inappropriate for use in a public domain or violates these Terms and Conditions.
15. Governing law
These Terms and Conditions shall be governed by applicable laws of the Republic of Maldives and is subject to the jurisdiction of Courts in the Republic of Maldives. However, MIB will have the right to pursue its remedies in and outside the Republic of Maldives and in the Courts of any other jurisdictions which is considered appropriate by the Bank.
Privacy
Maldives Islamic Bank built the Faisa Mobile app as a free app. This SERVICE is provided by Maldives Islamic Bank at no cost and is intended for use by Maldives Islamic Bank customers.
This page is used to inform visitors regarding our policies with the collection, use, and disclosure of Personal Information if anyone decided to use our Service.
If you choose to use our Service, then you agree to the collection and use of information in relation to this policy. The Personal Information that we collect is used for providing and improving the Service. We will not use or share your information with anyone except as described in this Privacy Policy.
The terms used in this Privacy Policy have the same meanings as in our Terms and Conditions, which is accessible at Faisa Mobile unless otherwise defined in this Privacy Policy.
Information Collection and Use
For a better experience, while using our Service, we may require you to provide us with certain personally identifiable information. The information that we request will be retained by us and used as described in this privacy policy.
The app does not use any third party services that collect information used to identify you.
Log Data
We want to inform you that whenever you use our Service, in a case of an error in the app we collect data and information on your phone called Log Data. This Log Data may include information such as your device Internet Protocol (“IP”) address, device name, operating system version, the configuration of the app when utilizing our Service, the time and date of your use of the Service, and other statistics.
Cookies
Cookies are files with a small amount of data that are commonly used as anonymous unique identifiers. These are sent to your browser from the websites that you visit and are stored on your device's internal memory.
This Service does not use these “cookies” explicitly. However, the app may use third party code and libraries that use “cookies” to collect information and improve their services. You have the option to either accept or refuse these cookies and know when a cookie is being sent to your device. If you choose to refuse our cookies, you may not be able to use some portions of this Service.
Security
We value your trust in providing us your Personal Information, thus we are striving to use commercially acceptable means of protecting it. But remember that no method of transmission over the internet, or method of electronic storage is 100% secure and reliable, and we cannot guarantee its absolute security.
Links to Other Sites
This Service may contain links to other sites. If you click on a third-party link, you will be directed to that site. Note that these external sites are not operated by us. Therefore, we strongly advise you to review the Privacy Policy of these websites. We have no control over and assume no responsibility for the content, privacy policies, or practices of any third-party sites or services.
Children's Privacy
These Services do not address anyone under the age of 18. We do not knowingly collect personally identifiable information from children under 18. In the case we discover that a child under 18 has provided us with personal information, we immediately delete this from our servers. If you are a parent or guardian and you are aware that your child has provided us with personal information, please contact us so that we will be able to do necessary actions.
Changes to This Privacy Policy
We may update our Privacy Policy from time to time. Thus, you are advised to review this page periodically for any changes. We will notify you of any changes by posting the new Privacy Policy on this page. These changes are effective immediately after they are posted on this page.
Contact Us
If you have any questions or suggestions about our Privacy Policy, do not hesitate to contact us.
