Terms and Conditions Governing The Savings Account-i

“BEFORE YOU CLICK ON THE “I AGREE” BUTTON, PLEASE READ THE FOLLOWING TERMS AND CONDITIONS CAREFULLY. BY CLICKING ON THE “I AGREE” BUTTON, YOU SIGNIFY YOUR AGREEMENT TO THESE TERMS AND CONDITIONS AND YOU SHALL BE BOUND BY THE SAME.”

1.    Overview

1.1    These are the Terms and Conditions governing the Customer’s Savings Account-i, as amended from time to time. The use of the Savings Account-i by the Customer shall be governed by this Terms and Conditions, including all requirements, directives, regulations, and guidelines in relation thereto issued by the Bank and any authority having jurisdiction over the Bank, at any time and from time to time. Customer is advised to read and understand this Terms and Conditions carefully before agreeing to accept these Terms and Conditions digitally.

2.    Definition & Interpretations

2.1    The following terms and expressions shall apply to this Terms and Conditions, unless the context requires otherwise:

2.2    Words importing the singular shall include the plural and vice versa.

2.3    Words importing the masculine gender shall include the feminine and neuter genders and vice versa.

2.4    All references to provisions of statutes include subsidiary legislation and all modifications, re-certification and re-enactment of or to such statutes and subsidiary legislations from time to time and for the time being in force.

2.5    Any banking term not specifically defined or described shall be construed in accordance with the general practice of banks and finance companies in Malaysia.

2.6    In the event of any conflict in the interpretation and translation of this Terms and Conditions in any language, the English version of this Terms and Conditions shall prevail.

3.     Shariah Applicable to the Savings Account-i

3.1    The Savings Account-i will be based on the Shariah contract of Qard.

3.2    In the Savings Account-i, the Customer will be the lender and the Bank will be the borrower. Pursuant to this Terms and Conditions, when the Customer deposits money into the Customer’s Savings Account-i, the Bank will utilize the money, which is represented by the sum standing to the credit of the Customer’s Savings Account-i, for any Shariah-compliant activities that the Bank deems fit. Subject to this Terms and Conditions, the Bank is bound to repay the whole sum standing to the credit of the Customer’s account upon demand by the Customer.    

3.3    Any profit generated by the Bank from the use of such balance shall belong to the Bank. The Bank may give a gift (Hibah) to the Customer. The Customer may or may not receive the Hibah as the giving of the Hibah is at the Bank’s discretion to be given to the Customer. The Bank is not legally bound to grant Hibah to the Customer.

3.4    Additionally, the Savings Account-i will also apply other Shariah and/or contracts that are approved by BNM such as Ujrah

(a)    Ujrah

The Bank will determine the type of Ujrah services and charges, and these will be published on the Mobile Application.

4.    Opening the Savings Account-i

4.1    The opening, maintenance and use of the Savings Account-i is subject to the Bank’s prescribed form requirements including on the age, type of Entity, and identification of documents. Any application to enrol for the Savings Account-i and access through the Mobile Application, will be subject to the Bank's approval. The Bank reserves the right to accept or reject any application, deny access to the Customer’s Savings Account-i, limit the Customer’s access or transactions or to revoke the Customer’s access to the Savings Account-i.
    
4.2    Applicant is an individual:

(a)    the applicant must be a natural person, resident, and has authority to be the Savings Account-i holder. The applicant will be regarded as the Savings Account-i holder. Once the application is approved, only the Customer has the right to the credit balance in the Savings Account-i;

(b)    An external account may be opened by a non-resident (i.e. a person, firm, institution or company which is not a resident in Malaysia);    

(c)    A non-resident is not permitted to have a resident account; and/or    

(d)    The sources and uses of funds in an account are subject to the rules imposed under the IFSA 2013 and the FEN.

4.3    The Customer would furnish all the personal data required by the Bank through the means determined by the Bank. The Customer also declares that all the information provided is correct at all times.

4.4    It is important for the Customer to ensure that the Customer’s personal data such as address, contact numbers, authorized signatory(ies) given to the Bank are accurate and kept updated at all times. This is to enable the Bank to deliver communications regarding the operation of the account and any marketing related activities. The Bank shall be entitled to assume that there have been no changes until the Bank has received notice given by the Customer.

4.5    The Customer acknowledges that the Savings Account-i is without a passbook and an E-Statement will be made available via the Mobile Application pursuant to Clause 8 below.

4.6    The Customer is required to perform a minimum credit transfer of RM1 for the purpose of verifying account owner details from a recognised financial institution.

5.    Deposit and Withdrawal  

5.1    The Bank reserves the right to prescribe and vary from time to time the minimum amount to be deposited or minimum amount that can be withdrawn at any one time in the Savings Account-i. Such variation shall be communicated to the Customer within twenty-one (21) days from the date of variation via the notification on the Mobile Application.

5.2    Any cash deposit and/or withdrawals can be made by using any of the Bank’s authorized service provider and/or terminal and subjected to this Terms and Conditions     .

5.3    The Customer may withdraw from the account up to the limit as the Bank may announce via the Mobile Application or revise from time to time and subject to the available balance in the account. The Customer’s Savings Account-i shall be deemed to be closed upon the withdrawal of the entire balance available in the account or by operation of law or pursuant to Clause 10.

6.    Bank’s Right to Debit Account  

6.1    The Customer, hereby agrees to pay and authorise the Bank to debit the Customer’s Savings Account-i for any drafts, postal and money orders or other instruments or for any charges/expenses including Ujrah charges incurred as a result thereof and any other fees or commissions, or for any applicable service charges, early closure of the Savings Account-i fee, maintenance fee or any other reasonable fees and charges imposed by the Bank from time to time or such applicable taxes whether currently in force or to be implemented and chargeable by law, for the services and facilities provided to the Customer, notwithstanding that such debiting may cause the Savings Account-i to be overdrawn. The Customer shall pay the overdrawn amount immediately to the Bank. The Customer shall be liable to pay ta’widh (compensation) on the overdrawn amount based on the Islamic Interbank Money Market rate if the Customer fails to settle the overdrawn amount after three (3) days the Savings Account-i is overdrawn.

6.2    The Bank shall, at any point of time to debit the applicable amount from the Customer’s Savings Account-i without the Customer’s prior consent if the Customer is not the intended beneficiary of the Savings Account-i in the following events:

(a)    there is mistaken payment instruction caused by third party who initiates the transaction that is directed to the wrong recipient, carry wrong amount, or are duplicated;

(b)    there is/are erroneous payment instruction(s) that were incorrectly transferred by other financial institution or by the Bank to other parties which include but not limited to generating invalid, incorrect, misdirected or duplicated transaction due to technical errors or operational errors that are of no fault of the third party;

(c)    erroneous payments caused by payment system due to technical or operational errors that result in incorrect or duplicated transaction; or

(d)    unauthorised or fraudulent payment instructions that were not initiated by the third party or transaction which have been induced by any dishonest or fraudulent means.

6.3    The Customer further undertakes to refund all erroneous credit entries into the Customer’s Savings Account-i and indemnify the Bank against any loss which the Bank may incur by reason of the erroneous credit entries.

7.      Bank’s Right of Set Off

7.1    The Customer agrees that in addition to any general lien or other similar right to which the Bank as bankers may be entitled at law, the Bank may at any time, with twenty-one (21) days prior notice, combine or consolidate all or any of the Customer’s Savings Account-is and any other accounts that the Customer has with the Bank with and the liabilities to the Bank wheresoever situate and set off or transfer any sum or sums standing in the credit of this Savings Account-i in or towards satisfaction of any of our liabilities to the Bank whether such liabilities to the Bank be present, future, actual, contingent, primary or collateral or joint or several.
        
7.2    Where such combination, set-off or transfer requires the conversion of one currency into another, such conversion shall be calculated at the prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing the currency for which the Customer is liable with the existing currency so converted. The Bank shall not be held liable or responsible for any loss arising as a consequence of exercising its rights hereof.

7.3    If the liability that the Customer owes to the Bank is contingent or in the future, the Bank shall have the necessary discretion to suspend the Bank’s obligation to make payment of any sum standing to the credit of any of the Savings Account-i until the event of contingency or future occur. 
        
7.4    The Bank shall earmark, withhold or set-off the Savings Account-i in such manner that the Bank deems fit.

8.      E-Statement

8.1    E-Statement is an electronic statement provided to the Customer by the Bank that is made available through the Mobile Application.

8.2    An E-Statement through the Mobile Application is available on a monthly basis or at such frequency as determined by the Bank. The Customer must be a registered Mobile Application user and has registered for the E-Statement service where the Customer may view the E-Statement.
    
8.3    The Customer agrees and undertakes to examine with due care that all the entries in the E-Statement promptly and to report immediately to the Bank of any error or discrepancies found in the E-Statement. If the Bank does not receive any notification in writing within twenty-one (21) days from the E-Statement date of any errors or discrepancies as regards to the Debit Card-i entries in the E-Statement, then the Customer shall have accepted such entries made up to the date of the last entry in the E-Statement as correct, binding, final and conclusive and adopt all withdrawals or other debits to the Savings Account-i.

8.4    In the absence of notification from the Customer in the manner set out in the clauses above, the E-Statement shall be conclusive evidence of the Customer’s confirmation and acceptance of the accuracy of the E-Statement.

8.5    The E-Statement service allows the Customer to view, save and print the E-Statement in PDF format or such other format as may be made available by the Bank from time to time, subject to this Terms and Conditions.

9.    Exclusion of Liabilities    

9.1    When the Bank accepts or incurs liability on the Customer’s behalf or at the Customer’s request, any funds or securities and other valuables deposited with the Bank belonging to the Customer and in the hands of the Bank, it shall automatically become security to the Bank. The Bank shall have the right to retain such funds or securities or valuables in the hands of the Bank or any part thereof and be entitled at its absolute discretion, even to dishonour the Customer’s cheques until the liability is settled.
        
9.2    The Customer hereby gives consent to the Bank to disclose information such as may be required by BNM in compliance with the Customer’s directives and/or to companies in the KAF Group of Companies and other financial institutions for the purpose of a bona fide credit evaluation. In so doing, the Bank shall be absolved from any responsibilities or liabilities whatsoever.
        
9.3    Should the Bank retain or is obliged to retain solicitors to enforce any of its rights hereunder or otherwise whether by judicial proceedings or any other manner in relation to the Customer’s Savings Account-i, the Customer shall be liable to pay to the Bank all costs, fees, and charges in relation to this Terms and Conditions and the Bank shall have the right to debit the account with all the related costs, fees and charges.
        
9.4    The Customer agrees that the Bank shall not be responsible for, and the Customer shall fully indemnify the Bank and hold the Bank harmless against all losses, costs and expenses which may be incurred by the Customer or by the Bank with any or all the banking accounts whatsoever, or the execution by the Bank of any Instructions or if any of the Customer’s Savings Account-i or any part thereof is reduced or frozen by any government or official authority unless it is caused by error, omission, mistake, misrepresentation, fraudulent or gross negligent conduct of the Bank.
        
9.5    The Bank shall not be responsible for any losses or damages to the Customer by reason of any compliance or non-compliance by the Bank where payment Instructions issued by the Customer is incomplete or ambiguous or where the amount of the deposit(s) is insufficient to cover the bank charges and the amount specified in such Instructions or by reason of or arising from the business or operations, impeded, or interfered by delays, forgery of signatory’s signature, alteration and/or forgery due to the Customer’s negligence, hostilities, breakdown of electricity or power supply or telecommunications or other communications network systems, riots, blockades, strike, embargoes, or machine or equipment failure.
        
9.6    Any payments made by the Bank pursuant to any Instructions purporting to be signed by the Customer or the Customer’s duly authorized signatory(ies) shall be a complete discharge and the Bank shall be absolved from any liability to the Customer and any other parties thereon.

10.    Closing of the Savings Account-i

10.1    The Bank reserves the right at its sole discretion at any time to close the Savings Account-i for the following reason:

(a)    if the Customer’s name appears in any alerts or warnings issued by BNM, the police or any other local or international regulatory authorities;

(b)    if the Customer breaches this Terms and Conditions ;

(c)    if the Bank is instructed by the Official Assignee, a liquidator, or receiver and manager to do so; or 
    
(d)    if the Bank is of a reasonable opinion that maintaining the Customer’s Savings Account-i is against KAF Group of Companies’ policy, policies, guidelines or rules of BNM or any Shariah laws and any laws of Malaysia,

without any obligation to assign any reason, by giving twenty-one (21)  days prior written notice to the Customer. The Bank may issue a banker’s cheque for the entire available balance in this account, less such administrative cost or other costs incurred by the Bank, and may post the said banker’s cheque to the Customer’s last known address registered with the Bank.

10.2    In closing the account pursuant to Clause 10.1 above, the Bank may, but is not obliged to disclose the reason for the closure, unless such disclosure is required by law.

10.3    The Customer may close this account at any time by giving the Bank written notice within twenty-one (21) days and paying Bank all sums due and outstanding under the Savings Account-i.

11.    Freezing, Holding, and/or Suspending of the Savings Account-i
             
11.1    The Bank may, at the Bank’s reasonable discretion, freeze, hold, suspend, and/or place any other appropriate tagging on the Savings Account-i and dealings with the balances in the Savings Account-i for any reasons, unless it is prohibited by law to do so. Such reasons may include:

        
(a)    the Customer is a bankrupt;
            
(b)    the Customer is deemed unable to pay the Customer’s debts under section 466 of the Companies Act 2016 as a company;
            
(c)    the occurrence or existence of any matters which include any opposing, adverse or conflicting claims by (i) any directors, office-bearers, shareholders, members, trustees, beneficiaries or (ii) any persons alleging to be directors, partners, office-bearers, shareholders, members, trustees or beneficiaries;
            
(d)    the existence of any directive or instruction given by BNM, police or any other local or international regulatory authorities that restrict or prohibit the Bank from performing any transaction or allowing the Savings Account-i to operate;
            
(e)    the Customer’s conduct or the Bank suspects the Customer or a third party is misusing, conducting illegal or fraudulent activities through the Savings Account-i (this includes illegal deposit taking and scams);
            
(f)    the Customer misrepresented the Customer’s identity or provided false, incorrect or misleading information or documents relating to the Savings Account-i;
            
(g)    a police report is lodged against the Customer or on the Savings Account-i by any person including the Bank;
            
(h)    an investigation is being conducted by BNM, police or any other local or international regulatory authorities or by the Bank against the Customer or the Savings Account-i; 
            
(i)    any facility granted to the Customer through the Savings Account-i is suspended, recalled or terminated for any reason;
            
(j)    the Customer’s failure to inform the Bank of any change in the Customer’s personal data such as the Customer’s residential address, mailing address and contact numbers;
            
(k)    the death of the Customer;
            
(l)    any debt is owed by the Customer to the Bank whether as a borrower, security party or guarantor;
            
(m)    the Customer is mentally incapacitated;
            
(n)    the Bank receives a court order or other legal documents prohibiting the Savings Account-i from being operated;
            
(o)    the Customer’s abuse of the Mobile Application; or
            
(p)    the Customer’s breach of any of this Terms and Conditions.
            
The Bank will also reasonably exercise its discretion whether or not to provide the Customer with the notice of the      above. There may be instances where the Bank will not be at liberty to disclose the reason  and shall have no obligation to do so.

12.    Perbadanan Insurans Deposit Malaysia (PIDM)

12.1    The deposits maintained by the Customer in the Savings Account-i are eligible for protection by Perbadanan Insurans Deposit Malaysia (PIDM) or Malaysia Deposit Insurance Corporation. Coverage of the eligible Savings Account-i balance is subject to this Terms and Conditions as set by PIDM. A copy of the PIDM brochure has been provided to the Customer.

12.2    Subject to the latest version of guidelines issued by PIDM and any amendment(s) thereof, any deposit will be protected by PIDM up to RM250,000 for each depositor.

13.    IFSA 2013 and BNM Guidelines

13.1    This terms and conditions shall be subject to the provisions of the IFSA 2013 and any other modifications or any directive from BNM or as may be directed or required by a regulatory body from time to time.

13.2    The Customer understands and acknowledges that pursuant to Section 146 of the IFSA 2013 (Permitted Disclosure), the Bank is legally permitted to disclose the Customer’s personal information relating to the Customer’s affairs, Savings Account-is or conduct thereof (including the Customer’s credit standing) to third parties as approved by BNM to facilitate and/or enable the Bank and/or the related and associate companies within the KAF Group of Companies to perform its and/or their functions and the Customer hereby consents to and authorise the Bank to disclose the said information to any guarantor(s)/security parties, the Bank’s lawyers, debt collection agents, third parties and/or related and associate companies within the KAF Group of Companies to enable the Bank and/or the related and associate companies within the KAF Group of Companies to perform its and/or their functions. In doing so, the Customer agrees that the Bank shall be absolved from any responsibilities or liabilities whatsoever.

14.    Unclaimed Moneys Act 1965

14.1    The Customer shall transact at least once a year as the Customer is aware of the provisions of the Unclaimed Moneys Act 1965, whereby the Customer’s Savings Account-i will be classified as unclaimed money seven (7) years from the date of the last transaction initiated by the Customer. As such, the funds in the Savings Account-i are required to be transferred to the Registrar of Unclaimed Moneys (RUM). 
        
14.2    The Customer agrees to communicate to the Bank prior to the expiry of the seven (7) years to perform a withdrawal or deposit transaction in order to re-activate the Savings Account-i. In consideration of the Bank agreeing to the Customer’s above request, the Customer agrees and undertakes to hold the Bank harmless and indemnified against all liabilities whatsoever for any delay/omission/error in carrying out the Instructions. The Customer is aware that the Bank’s Privacy Notice on the collection, use, storage and sharing of the Customer’s personal information and matters related are available at the Mobile Application.
        
14.3    If the Customer fails to re-activate the Savings Account-i, the Bank shall give the Customer twenty-one (21) days of notice before arranging the transfer of funds in the Savings Account-i to the RUM.

14.4    The Bank shall provide two (2) reminders before the closure of the dormant Savings Account-i. After the expiry of the twenty-one (21) days of the second reminder, the Bank may close the Savings Account-i subject to other applicable financing of the Customer with the Bank. Such reminder(s) shall be given to the Customer via a notification on the Mobile Application.

14.5    Subject to Clause 14.1 above, an annual service charge shall continuously be imposed and deducted from the Savings Account-i until any credit balance standing are sent to the RUM.

14.6    For any Savings Account-i with the Bank with balance of less than RM10.00 the credit balance in the Savings Account-i shall be deducted as service charge and the Savings Account-i shall be closed automatically.

15.    General

15.1     The Customer hereby agrees that the Bank’s record and any records of the Instructions, communications, operations, or transactions made or performed, processed or effected through the Savings Account-i or any record of transaction relating to the Customer’s the Savings Account-i shall be binding and conclusive evidence of the transaction and the Customer’s liability to the Bank.

15.2    The Customer will not be given access to the Savings Account-i if there is restriction(s) on the Savings Account-i either imposed by the Bank or other relevant authorities. The Customer declares that prior to or at the time of the opening of the Savings Account-i, the Customer has not:

(a)    committed any act of bankruptcy; and/or
            
(b)    been subject to any resolution or petition for winding up or insolvency being made or presented against the Customer.
            
The Customer further agrees that should any of the above be contravened by the Customer, the Bank shall have the absolute right at any time to close the Savings Account-i without prior notice.

15.3    By clicking the tick box provided on the Mobile Application, the Customer confirms that the Customer has received, read and fully understood this Terms and Conditions and agrees to comply with and be bound by and any amendment(s) or variation(s) to the same which the Bank may subsequently introduce, review, revise or replace which are made available on the Mobile Application and/or which may be communicated by any other means as approved by BNM.

15.4    The Customer will not be given access to the Savings Account-i if there is restriction(s) on the Savings Account-i either Imposed by the Bank or other relevant authorities.

15.5    The Customer, hereby irrevocably authorises the Bank to treat the Bank’s records of any transactions effected through the said Savings Account-i including but not limited to transactions effected by mail order, telephone order, the Mobile Application and self-service terminals from any source purportedly by the Customer as evidence of transaction(s) properly incurred by the Customer and to debit the Savings Account-i for payment of such transaction(s) notwithstanding that the transaction(s) may not be authorised by the Customer and further notwithstanding that such authorisation or record to debit the Savings Account-i as aforesaid may not contain the Customer’s signature.
        
15.6    This Terms and Conditions governs the general rules on the opening and operations of Savings Account-i and might vary depending on the Savings Account-i product type.

16.    Indemnity

16.1    In addition and without prejudice to any other right or remedy of the Bank, whether under this Terms and Conditions or otherwise, the Customer agrees to indemnify and hold the Bank, its successors, assigns, and third parties, and each of the Bank’s directors, officers, employees and agents harmless from and against all loss, damages, claims, fines, penalties or expenses, including legal fees, arising howsoever from or in connection with any breach, default, omission, misrepresentation, negligence, misconduct, non-observance and/or non-performance of this Terms and Conditions by the Customer or on the part of any other person for whose acts or omissions the Customer is vicariously liable, whether in tort, contract or otherwise.

17.    Waiver

17.1    The Customer hereby agrees that no failure or delay on the part of the Bank in exercising any rights or remedies under this Terms and Conditions at any time or for any period of time nor any knowledge or acquiescence by the Customer, or in, any breach of any provision of this Terms and Conditions shall operate as or be deemed to be a waiver thereof nor shall a waiver by that party of any breach constitute a continuing waiver in respect of any subsequent or continuing breach. A provision of right or remedy under this Terms and Conditions may not be waived except in writing signed by the Bank so waiving.

18.    Severability

18.1    Any term, condition, stipulation, provision, covenant or undertaking (“Provision”, and any reference to Provision shall include any part thereof) contained in this Terms and Conditions which is illegal, invalid, or unenforceable shall, to the maximum extent possible, continue to apply with the necessary modification in order that the Provision is legal, valid and enforceable provision which most closely reflects the original Provision. Subject to the foregoing, any Provision which is illegal, invalid, or unenforceable shall be fully severable and ineffective to the extent of such illegality, invalidity     or unenforceability without invalidating the remaining Provisions contained in this Terms and Conditions (which shall not be affected by the illegal, invalid or unenforceable Provision or by its severance).

19.    Variations of Terms and Conditions

19.1    Subject to Shariah, the Bank shall have the right at any time to add, delete, amend or modify this Terms and Conditions, or any part thereof, from time to time. Such addition, deletion, amendment, or modification shall be effective immediately upon notice to the Customer of twenty-one (21) days thereof, which may be given by means of, including, but not limited to, notification on the Mobile Application, or by electronic or conventional mail, or by any other means by which the Customer obtain notice thereof.

19.2    The Customer shall immediately notify the Bank in the event that the Customer is not agreeable to any such addition, deletion, amendment or modification, in which case the Savings Account-i shall be closed automatically. Any use of the Savings Account-i by the Customer after the issuance of such notice shall be deemed to constitute acceptance of this Terms and Conditions with such addition, deletion, amendment, or modification.

19.3    The Customer further agrees by continuing to maintain and operate the Customer’s Savings Account-i after the effective date of the amendment(s) or variation(s), the Customer has accepted the amended Terms and Conditions and the same shall be binding and conclusive against the Customer.

19.4    The Bank shall have the right at any time to change or discontinue any aspect or feature of the Savings Account-i.

19.5    The Customer agrees and acknowledges that if and where the changes or amendments made are necessitated by an immediate need to restore or maintain the security of a transaction of the Savings Account-i the Bank may proceed with making such changes and amendments without giving any notice to the Customer.

20.    Successors Bound

20.1    This Terms and Conditions shall be binding upon the parties and their permitted legal assigns and successors in title and the Customer shall not be entitled to assign any of the Customer’s rights or obligations under this Terms and Conditions unless with the express prior written consent of the Bank.

21.    Compliance with Other Laws

21.1    The use of the Savings Account-i outside Malaysia are subject to the following:

(a)    the prevailing requirements on international and domestic transactions prescribed by the FSA 2013 and ISFA 2013, which is currently the FEN. The FEN is available at Bank Negara Malaysia’s website at https://www.bnm.gov.my;

(b)    any fiscal or exchange control requirements in force for the time being in the country where the transaction is effected or requested; and

(c)    the laws and regulations of Malaysia as well as the country where the transaction is effected or requested.

22.    Disputes and Enquiries

22.1    Should there be any enquiries or require any assistance, please refer to the Bank’s Contact Centre. For the avoidance of doubt, all telephone calls made to the Bank’s Contact Centre shall be logged by the Bank.

22.2    In the event that the Customer has any complaints and/or disputes arising from any unauthorised transaction, please refer the matter to the Bank and specifying the nature of the Customer’s complaint and/or dispute. The parties hereby agree to try to settle the matter amicably.

22.3    Subject to Clause 22.4, the Customer may be required to disclose to the Bank all relevant information relating to any report, query or complaint including but not limited to the Customer’s name, the relevant Savings Account-i number(s), a description of any such error, query or complaint, date of the disputed transaction or error, an explanation on why the Customer believes it to be an error or why the Customer requires more information and the amount(s) involved in the suspected error, disputed transaction, query or complaint, as maybe relevant. Notwithstanding this, the Customer shall not, at any time and under any circumstances whatsoever, disclose the Customer’s sensitive or confidential information to any of the Bank staff or representative.

22.4    Where any communication involves the Customer’s sensitive or confidential information whether in relation to the Savings Account-i or any transactions made in relation to the Savings Account-i or otherwise, the Bank does not encourage the communication of any such information via the Mobile Application and the Customer agrees and acknowledges that should the Customer proceed with such mode of communication in relation to such information, the Customer shall undertake all inherent risks associated with such mode of communication and shall not, at any time whatsoever, hold the Bank responsible or liable for the security of such information or any loss suffered in relation thereto, with the exception of losses which is caused by error, omission, mistake, misrepresentation, fraudulent or gross negligent conduct of the Bank’s.

22.5    In the event that the Bank requests the Customer to make such report, complaint, or query in writing to the Bank, the Customer shall do so within twenty-one (21) days. If no such written report, complaint or query is received by the Bank within the said period, the Bank will not be under any obligation to conduct any investigation and answer any such query or complaint.

22.6    Subject to Clause 22.7 below, the Bank shall endeavour to investigate the complaint, answer the query or inform the Customer the results of its investigation as soon as practicable or in any case within twenty-one (21) days of receipt of such report, query or complaint or where a subsequent written report, query or complaint is requested by the Bank pursuant to Clause 22.5, within twenty one (21) days of receipt of such subsequent written report, query or complaint.

22.7    If the Bank requires more time to conduct its investigation, the Bank shall extend the period stated in Clause 22.6 above to such reasonable period which shall as far as reasonably possible not exceeding twenty-one (21) from the date of receipt of such report, query or complaint or where a subsequent written report, query or complaint is requested by the Bank pursuant to Clause 22.5, within twenty one (21) of receipt of such subsequent written report, query or complaint. If the Customer delays, obstructs and/or withholds vital information from the Bank, making or attempting to make false claims in respect of any transaction, publish false claims on traditional or social media, and/or lodge false police reports with respect to any transaction, the Bank reserves the right to commence legal proceedings against the Customer whenever the Bank deems necessary.

22.8    The Customer shall as far as possible to co-operate and assist the Bank in the conduct of its investigations, including allowing the Bank and its investigation team to access the device(s) used for the disputed transaction such as the personal computers, laptops, and/or Mobile Devices within twenty-one (21) days from the date the Customer reported the Customer query or complaint to the Bank’s Contact Centre.

22.9    Subject to the provisions of this Terms and Conditions, upon the completion of an investigation, the Bank shall make reasonable endeavours to correct any error promptly and to make the necessary adjustments to the Customer’s Savings Account-i and notify the Customer of such adjustments.

22.10    In any case, the Bank shall inform the Customer of the results of the investigation within twenty-one (21) days of the completion of the Bank's investigations in Clause 22.6 or 22.7, as the case may be.

22.11    Where the Customer is not satisfied with the outcome of the investigation or of the Customer complaint, the Customer may appeal against such outcome by referring such complaint to the OFS.

23.    Disclosure

23.1    The Customer irrevocably consents to and authorises the Bank and its officers and employees to disclose and furnish all information concerning the Customer’s particulars and affairs (financial or otherwise), account details, relationship with the Bank, this Terms and Conditions and any other matters relating to the Customer or its business and operations to the following classes of persons in such manner and to such extent as the Bank according to its policies may consider necessary:

(a)    any officer, employee, agent or director of KAF Group of Companies which includes the holding company(s) of the Bank, its subsidiaries, associated companies, representatives and branch offices. For the avoidance of doubt, disclosure to the KAF Group of Companies shall be for the  facilitating of operations, businesses, cross-selling and other purposes of the Bank and/or KAF Group of Companies provided always that disclosure is for  cross-selling purposes shall not be effected if such disclosure is objected by the Customer upon written notification to the Bank;

(b)    any person for or in connection with any legal action or proceeding taken to recover monies due and payable by the Customer to the Bank;

(c)    any actual or potential participants as assignee, novatee, or transferee of the Bank’s rights and/or obligations under any transactions between the Bank and the Customer;

(d)    relevant third parties such as professional advisers, strategic business partners and alliances, Takaful operators, vendors, business partners and business agents who support the operational activities of the Bank;

(e)    regulatory bodies, government agencies, tax authorities, the police, law enforcement bodies and courts, both within and outside Malaysia;

(f)    CGC (if applicable) and any other relevant authority as may be authorised by law to obtain such information, or such authorities/agencies established by BNM, or any agency established by ABM/AIBIM;

(g)    CCRIS, credit bureaus, credit reporting agencies and corporations set up to collect and provide credit information unauthorised or licensed under the Credit Reporting Agency Act 2010;

(h)    the Bank’s accountants, auditors, solicitors, advisors, consultants and/or other agents as may be required for the proper performance of their functions, duties and obligations to the Bank and the KAF Group of Companies;

(i)    the Bank’s service providers, nominees, agents, contractors or third-party service providers engaged by the Bank and its related or associated companies to carry out the Bank’s functions and activities;

(j)    the Bank’s rights to the Customer’s personal data and disclosure will be in accordance with the Bank’s Privacy Notice;

(k)    an external party as may be required for any corporate exercises/due diligence activities undertaken by the Bank and/or the KAF Group of Companies;

(l)    any party which in the future may express intention to acquire an interest/shareholding in the Bank pursuant to any proposed arrangement, composition, merger, acquisition/restructuring between the Bank and such parties; and

(m)    any other persons or entities with the Customer’s prior consent.

24.    The Customer's Responsibility and Undertakings

24.1    The Customer agrees and undertakes:

(a)    not to disclose the access identity and passcode/password to any other person, via unsolicited e-mails, telephone calls or on the Mobile Application other than the Bank’s official Mobile Application and shall take all reasonable steps to secure the passcode/password and ensure the security device is secured at all times; and
            
(b)    to check all transaction alerts in a timely manner and to check Savings Account-i balances, statements of any Savings Account-i or designated payment instrument on a regular basis, to detect any unauthorised transaction, error or discrepancy, and to report to the Bank and the issuer of the payment instrument as soon as reasonably practicable in the event any unauthorised transaction, error or discrepancy is detected;

(c)    to check the available balance in the Savings Account-i on a periodic basis.

 24.2    The Customer further undertakes to report a breach of the security of a passcode/password or the loss of a security device to the Bank as soon as reasonably practicable, upon becoming aware of the breach or loss respectively and undertake to report immediately to the Bank of any error or discrepancies found in any statement or entry. If the Bank does not receive any notification in writing within twenty-one (21) days from the statement date of any errors or discrepancies as regards to the debit or credit entries in the statement, then the Customer shall have accepted such entries made up to the date of the last entry in the statement as correct, final, and conclusive and thereby adopt all withdrawals or other debits to the Savings Account-i.

25.    Privacy and Personal Data Protection

25.1    The Customer hereby agrees and consents to the holding, collection and use of all personal data provided to the Bank by the Customer or acquired by the Bank including but not limited to the personal data provided on the Bank’s Mobile Application, as well as personal data that arises as a result of the provision of the service to the Customer in connection with the Savings Account-i in accordance with the Privacy Notice of the Bank as may be amended from time to time.

26.    Anti-Money Laundering, Counter Financing of Terrorism and Anti-Corruption

26.1    In order to comply with local or foreign law, regulations, voluntary codes, directives, judgments or court orders, and any authorities, regulators or enforcement agencies, policies, good practice, government sanctions or embargoes, reporting requirements under financial transactions legislation and demands or requests of any authority, regulator, tribunal, enforcement agencies, exchange bodies, the Bank may:

(a)    be prohibited from entering or concluding transactions involving certain persons or Entities (e.g. person or Entity that is itself sanctioned or is connected to or dealing with (directly or indirectly) any person or Entity that is sanctioned under economic and trade sanctions imposed by any regulator in any jurisdiction;

(b)    report suspicious transactions or potential breaches of sanctions to an authority in any jurisdiction to which the Bank may need or decide to disclose. Transactions impacted include those that may:

(i)    involve the provision of finance to any person involved or suspected of involvement in terrorism or any terrorist act;

(ii)    be relevant to investigation of an actual or attempted evasion of tax law, investigation of or prosecution of a person for an offence against any applicable law; or

(iii)    involve persons or entities which may be the subject of sanctions;

(c)    intercept and investigate any payment messages and other information or communications sent to or by the Customer or on behalf of the Customer and may delay, block or refuse to make any payment and payment screening may cause a delay in processing certain information.

(d)    take any action it believes to be necessary, which includes freezing of funds, preventing operation of the Savings Account-i, refusing a request for funds from the Customer, not allowing the Customer to use a product, or delaying or cancelling a transaction. The Bank does not require to notify the Customer until a reasonable time after it is permitted to do so under those law or policies. The Bank will not be liable for any loss arising out of any action taken or any delay or failure by the Bank, in performing any of its duties or other obligations;

(e)    not to accept any deposit of any money or cheques and/or allow or carry out any other transaction including withdrawals of money in respect of Customer’s Savings Account-i including but not limited to any transfers and telegraphic transfer of moneys from or to Customer’s Savings Account-i if the Bank has a reason to believe or is made aware of by third parties or relevant authorities that the Customer’s Savings Account-i is being used for or implicated in fraud, potential fraud, financial crimes, illegal activities, soliciting illegal financial investment schemes, money laundering or terrorism financing activities. The Bank too shall (subject to the extent permitted by law), reserves the right to close, freeze or otherwise deal with the Customer’s Savings Account-i as necessary.

26.2    The Customer hereby undertakes that:

(a)    the Customer shall ensure that no funds moving to and from the Savings Account-i are proceeds of, or will be used for any unlawful activity in contravention of any anti-money laundering laws; and

(b)    the Customer shall not:

(i)    use the Savings Account-i, directly or indirectly, for transactions involving any unlawful activity;

(ii)    conceal or disguise the true nature of any unlawful activity; or

(iii)    utilize any monies from the Savings Account-i for any money laundering or other unlawful purpose.

27.    Notices and Communication

27.1    Any change of information which include the Customer’s personal details, maximum daily cumulative limit on DuitNow QR, exposure or suspected exposure of the Security Codes, or any other changes that are not specified herein, the Customer shall notify the Bank by posting, publishing or sending a notification on or through the Mobile Application. All communications sent by the Bank shall be accepted as duly delivered to the Customer if sent by addressed to or delivered to the Customer’s last known address registered with the Bank or through the Mobile Application. Any failure on the part of the Customer to notify the Bank of any change of address resulting in delay or the return of any E-Statement, correspondence, and/or notice shall not prejudice the Bank’s right or entitlement under this Terms and Conditions. 
        
27.2    All legal processes shall be accepted as duly delivered to the Customer if sent to the Customer by post to or left at the Customer’s address last registered with the Bank. If the Customer has more than one (1) Savings Account-i with the Bank and the details are not the same, the Bank is entitled to use the latest and most recent details.

27.3    Subject to Shariah, the Bank reserves the right from time to time to levy or vary any fees and charges by giving twenty-one (21) days of notice via displaying the new fees and charges at the Mobile Application.

28.    Declaration

28.1    The Customer shall be required to complete the Bank’s prescribed Mobile Application form which shall then form part of this Terms and Conditions.

29.    Survival

29.1    Any rights and obligations under this Terms and Conditions which are capable of having effect and which shall by their nature survive after the expiration or termination of this Terms and Conditions and shall remain in full force and effect following the expiration or termination of this Terms and Conditions.

30.    Law and Jurisdiction    

30.1    This Terms and Conditions shall be governed by and construed in accordance with the laws of Malaysia and the courts of Malaysia shall have non-exclusive jurisdiction. Any dispute arising in respect of the Savings Account-i and this Terms and Conditions, which cannot be resolved in the manner specified in Clause 22 above, shall be referred to the courts of Malaysia.

CUSTOMER’S ACCEPTANCE

I agree with the Terms & Conditions of the Savings Account-i.

I hereby declare that I will not utilize the monies in the Savings Account-i for Shariah non-compliant purposes as listed in Appendix 1 of the Savings Account-i Terms and Conditions.

Appendix 1

The list below sets out non-Shariah-compliant activities:

Appendix 2 - Fees & Charges