Terms and Conditions

These terms are presented to the customer for review and acceptance before completing the process of entering and registering with the application ("registration"). Registration is a precondition for using the Markaba application, the Markaba website and the services, and requires completing "know your customer" (KYC) procedures to verify the customer's status as an authorised user upon accepting these terms.

Please read these terms carefully before completing your registration, as they affect your rights and obligations under the laws of the Kingdom of Saudi Arabia. If you do not agree to these terms, please refrain from using the Markaba website or application. By registering for the services, you acknowledge that you have read and understood these terms and agree to be bound by them.

These terms may be amended by us at any time by modifying this page. Please review them from time to time to note any changes, as they become binding on you as soon as you access the Markaba application or the Markaba website.

Application: Markaba's mobile application, used as a digital platform to benefit from the services and products provided by the company.

Account: the electronic account the customer creates with the Markaba application to benefit from the services, after registering and agreeing to the terms and conditions.

Customer: any person who has registered for the Markaba application services and agreed to its terms and conditions as set out in this agreement.

Login data: the customer's username and password for accessing the Markaba application. PIN: the personal identification number chosen by the customer to secure the account.

Fees: the service fees charged by Markaba on the various services provided through the application.

Financing: the financing services provided to the customer. The company's decision on customer eligibility is at Markaba's sole discretion and in accordance with the eligibility criteria and procedures it determines.

KYC: the "know your customer" procedures and the customer's personal identity details, authenticated and verified in accordance with the applicable regulations and requirements in the Kingdom.

Money laundering: all activities prohibited under the anti-money laundering laws and regulations of the Kingdom of Saudi Arabia.

Registration for Markaba's services can be completed through the registration process in the Markaba application, and requires completing "know your customer" procedures and verifying the customer's identity in accordance with the applicable regulatory requirements.

Markaba reserves the right, at any time, to take all relevant steps and procedures necessary to ensure compliance with all applicable "know your customer" requirements.

The customer acknowledges that all information provided is true, complete and accurate. Markaba reserves the right at any time to reject a registration request in the event of any discrepancies or inaccuracies in the information or documents provided.

As part of the registration process, the customer will receive an activation code via Absher, which must be entered in the application to activate the account. The customer must agree to these terms for the account to be activated, and must create a password, which may be changed at any time.

The customer alone is responsible for the accuracy of registration information. If the information provided is incorrect or misleading, Markaba bears no liability for any consequences arising from it, and reserves the right to terminate the customer's account immediately, with or without notice, including disabling access to the application.

If the customer's registered number is lost or disabled, the customer must notify the company directly through the instant chat service available in the application in order to suspend the service and prevent any misuse, including but not limited to fraud, money laundering, terrorist financing or blacklisting.

By applying through the Markaba application, customers grant their consent and authorisation for the company to request their data from any agency or financial institution in order to review their financial records and other financial information to assess and determine eligibility.

Customers grant their full consent and authorisation for Markaba to request personal information relating to "know your customer" procedures from Absher or any other institution, in order to determine and assess the individual's identity and legal capacity to comply with the obligations set out in these terms.

Markaba may not disclose any personal information, documents or details of activity in the customer's account unless requested by a competent authority responsible for combating fraud, money laundering and terrorist financing, or where the customer's consent has been obtained.

Markaba may disclose personal data where disclosure is necessary to protect public health or safety, or to protect the life or health of a specific individual or individuals, or for subsequent processing that does not lead to the identification of the owner of the personal data or any other individual.

The customer must comply with any relevant instructions issued by Markaba in relation to the application.

Markaba reserves the right to suspend or discontinue its services and application, in whole or in part, and to block, restrict or terminate the account or suspend any activation code at its discretion, at any time, in the following cases.

If Markaba has reason to believe that the mobile phone, line or code used by the customer to access the application services is being used contrary to what was disclosed, or in unlawful activities.

If any corporate, regulatory or competent governmental body or similar authority initiates an investigation or takes regulatory, administrative or enforcement action against the customer, or any other act which Markaba believes may harm its reputation.

If the customer fails to comply with the terms, regulations or instructions relevant to the use of Markaba's services.

If the customer notifies Markaba that the registered number has been lost or stolen, or that the PIN has been improperly disclosed to another person.

Upon receiving a request from the customer to close the account after fulfilling all obligations towards Markaba; or in the event of technical faults, modification, update, transfer, repair or maintenance due to an emergency or other technical reasons; or where a breach of applicable regulatory requirements or of these terms and conditions is suspected.

Markaba may close or suspend the customer's account at its discretion, and is not liable to the customer for any direct or indirect loss, defect or damage resulting from any conduct or omission by the customer that led to the account being closed or suspended.

The customer must pay the service fees stipulated by Markaba in the form and by the method specified for such payment.

Markaba applies value added tax at the rates set by the Saudi government from time to time without the need for prior approval from you. The VAT amount will be shown when applied.

Each account has a single code through which the customer can access the account. The customer alone is responsible for the confidentiality, security and integrity of the code and other login data.

The customer alone bears responsibility for the consequences arising from disclosure of the code and/or unauthorised use of the application service, and remains responsible where a third party is appointed, intentionally or otherwise, to act on the customer's behalf.

If the code or mobile phone is lost or compromised, the customer must notify Markaba immediately, whereupon the account will be blocked and new credentials issued after verification.

The customer is responsible for protecting and correctly using their mobile devices, and for maintaining the confidentiality of the code and all transactions completed through it.

The customer bears responsibility for all Markaba service transaction fees accessed using the code via mobile phone, whether the activities are carried out by the customer or by another person appointed by the customer.

The customer may not use the application or the services for any purpose that may be construed as unlawful or unacceptable under any applicable laws, regulations, guidelines or judicial rulings, Markaba's policy or public policy, or for any purpose that may adversely affect Markaba's reputation.

The customer must inform Markaba immediately upon discovering any unlawful actions related to the product or service provided.

The customer acknowledges and undertakes that all information entered into or otherwise provided to the application is correct, complete and up to date, including personal information related to the account. When executing a transaction, the platform will rely on the registration information provided by the customer.

The customer acknowledges that any errors in the information, including incorrect identification of the beneficiary, incorrect or inconsistent account names and numbers, or spelling errors, are the customer's responsibility, and the application bears no liability for executing any transaction based on inaccurate or incomplete information.

The customer agrees not to use the service where doing so (a) results from or involves practices amounting to crime, fraud or other improper activity; or (b) falls within circumstances that Markaba determines to be suspicious or potentially in breach of applicable laws or regulations, including those intended to detect and prevent money laundering, terrorist financing, human trafficking or fraud.

The customer must exercise caution when granting a formal power of attorney to another person to conduct their financial dealings, and must understand the associated risks.

We have adopted rigorous security controls and procedures to prevent unauthorised access to your information, and we use leading technologies including, without limitation, encryption, firewalls and authentication features to protect the security and confidentiality of your information. However, the confidentiality of information transmitted over the internet cannot be fully guaranteed.

Markaba uses all reasonable measures to ensure that customer transactions and information remain secure and confidential. Markaba provides no warranty of any kind regarding the system or network, its function or performance, or for any loss or damage arising out of or in connection with the use of the application services.

The customer agrees that, in order to facilitate the provision of the services, Markaba may be required by law or otherwise to disclose any information or details about the customer to any competent government authority, or where disclosure is made with the customer's written consent.

By applying for the service, the customer understands and acknowledges that a minimum amount of personal data will be used for "know your customer" and marketing purposes. With the exception of sensitive data, Markaba processes personal data for marketing purposes.

Customer personal and financial information can only be accessed and used by authorised personnel.

Markaba does not warrant the accuracy or completeness of the information and materials on this website and disclaims liability for any error or omission in that information; no warranty of any kind applies to it.

The application, the materials on it and any product or service obtained through it are provided "as is" and without warranties of any kind, whether express or implied, to the fullest extent permitted by applicable law.

Markaba, its affiliates, licensors, suppliers, advertisers, sponsors and agents disclaim all warranties, express or implied, including without limitation the implied warranties of title, non-infringement, accuracy, merchantability and fitness for a particular purpose.

Markaba does not warrant that your use of the application will be uninterrupted, error-free or secure, that defects will be corrected, or that the application is free of viruses or other harmful components.

The customer acknowledges responsibility for obtaining and maintaining all mobile and other devices necessary to access and use the application, and for all associated charges.

The customer bears all responsibility and risk for using and relying on the Markaba application and services. No opinion, advice or statement is provided that creates any warranty.

Under no circumstances will Markaba be liable for any damages, including without limitation direct, indirect, special, incidental or consequential damages, or losses or expenses arising in connection with this website or application, its use or the inability to use it, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer viruses, or line or system failure.

Transitional connection to other internet sources is at your own risk, and the content and accuracy of opinions on such sources have not been investigated, verified, monitored or endorsed by Markaba.

Markaba will not be liable for any acts or omissions of any third party, including services not expressly authorised by the Markaba platform.

Markaba bears no liability to any person for any delay or loss of business, profit, revenue, goodwill or anticipated savings, or for any damages, fees, costs or expenses arising from the unavailability or use of the application services or otherwise.

The customer agrees to indemnify, defend and hold harmless Markaba and/or related parties from all claims, losses, damages, liabilities, costs and expenses, including legal fees and expenses, arising out of or relating to the use or misuse of the application services or any breach of these terms and conditions.

Markaba may make changes to these terms at any time. In the event of a change, Markaba must notify its customers of the updated version through secure means of communication, and an announcement of the changes will be published by any appropriate means sufficient to formally inform the customer.

A customer's continued use of Markaba's services after changes to the terms constitutes acceptance of those changes.

The terms of this agreement are subject to the notices and guidelines issued by the competent authorities from time to time.

The customer must inform Markaba immediately of any changes to the personal information in the registration application form. Any dispute or complaint regarding financial services provided through the application must be reported directly by the customer through the support available on the application or website. Markaba is entitled to investigate the claim and decide in good faith at its sole discretion, and to resolve any disagreement fairly and amicably.

In the event of any dispute, the records of the Markaba application will be binding as conclusive evidence of the transactions carried out using the platform services.

Markaba owns all copyrights, trademarks and all other intellectual property rights in the materials, and the customer agrees that they have no right to use or claim these rights.

The customer agrees to receive SMS messages from Markaba on the mobile number specified in the registration application form.

These terms (or any amended version) constitute an agreement binding the customer or their representatives to the terms and conditions set out in it, and may not be transferred or assigned to any person other than the customer identified in the registration form.

All rights and remedies referred to in this agreement are cumulative and do not exclude any rights or remedies provided by law.

This agreement shall be executed and interpreted in accordance with the laws, regulations, instructions, decisions and any statutory instrument applicable in the Kingdom of Saudi Arabia. Any dispute arising in this regard that is not amicably settled between the parties shall be referred to the competent judicial authority in the Kingdom of Saudi Arabia, in the city of Riyadh, for final adjudication.

I hereby acknowledge that I have read the above and clearly understand its content, including the processing of personal data and the underlying process for assessing and determining the customer's eligibility for financing from Markaba. By agreeing to the above, I acknowledge and agree to the following.

By electronically signing any form or document, the signature constitutes approval and confirmation of the content of that form or document.

I authorise Markaba to process my personal information in accordance with regulatory requirements and for the purpose of Markaba's operations required to approve financing.

I authorise Markaba to access my personal information through the Absher platform or any other institution or platform, and to access my financial records for the purposes of checking, registering and updating my credit information through the competent credit information entities.

I agree to be responsible for any damages, costs or account termination resulting from my failure to acknowledge my account data and related notices or my personal data, and Markaba shall inform me of such damages, costs or termination.

I agree to notify Markaba in writing or by telephone of any changes to my account information or other information provided in connection with these terms, and to receive Markaba's promotional or awareness messages.

I acknowledge that I am the true beneficiary of the financing request, and I authorise Markaba to obtain the IBAN of the bank account registered with "Dakhli", and approve the transfer of the financing amount to that IBAN.

I acknowledge that I have full legal capacity to consent to and sign this document and to contract with Markaba.