TERMS AND CONDITIONS GOVERNING THE PREPAID PAYMENT CARD

Important Notice: Please read the following Terms and Conditions carefully and thoroughly before using the Card owned by Al Saqi Electronic Payment Services Company. These Terms and Conditions constitute the agreement entered into between Al Saqi Electronic Payment Services Company (the “Company,” “we,” or “us”), whose headquarters is located at (Baghdad – Arasat Al-Hindiya – Block 929, Street 30, Building 73), licensed by the Central Bank of Iraq under License No. (15), and you, as the Cardholder (“you,” the “Cardholder,” or the “Customer”). You must safeguard the Card against loss, theft, and unlawful use, as it represents a personal cash wallet. You are the Cardholder, the owner of the Card, and the person whose name is linked to it, and you agree to these Terms and Conditions upon purchasing and/or commencing use of the Card.

Article (1): Definitions of the words and expressions used in these Terms and Conditions: 

Company: AlSaqi Electronic Payment Services Company / Baghdad – Arasat Al-Hindiya – Block 929, Street 30, Building 73). 

Cardholder: The person in whose name the Company issued the Card. 

Card Account: The account opened with the Company to which all funds and Card transactions conducted by the Cardholder are posted. 

Card Fees: The fees applicable to the services provided to the Cardholder. 

Customer Service Center: A dedicated division serving customers (Cardholders), available (7/24) to provide customer service concerning Cards. The Customer Service Center may be contacted at (7787) or by email at (care@alsaqi.iq). 

Personal Identification Number (PIN): The number assigned to the Card, which serves as the equivalent of a handwritten signature. It is issued by the Company and delivered to the Cardholder in a securely sealed envelope or by any other method determined by the Company. It must be used with the Card to conduct transactions through automated teller machines and points of sale. 

Article (2): You must provide us with the personal information, documents, and any other information required to complete the registration and subscription process, including the “Know Your Customer” form. Such information must be accurate, correct, and not misleading.

Article (3): You irrevocably permit and authorize the Company to disclose and provide the information supplied by you to regulatory authorities, subsidiaries, affiliates, and related parties (including advisers, any third party, and marketing partners), to the extent necessary to provide the services or comply with legal and regulatory requirements. 

Article (4): The Cardholder authorizes the Company, without obtaining the Cardholder’s prior consent, to post and debit any fees, foreign-exchange commissions, or transfer expenses that it may pay to international companies that own automated teller machine and point-of-sale networks, in accordance with the settlement reports of the Central Bank of Iraq, as well as any other additional or ancillary expenses subsequently determined by those companies. 

Article (5): It is understood and agreed that all transactions available to the Cardholder, whether cash withdrawals or purchases of goods or other services inside or outside Iraq, must be approved or rejected by the Company or by any other entity acting on the Company’s behalf. All approved transactions shall be debited immediately from the available balance in the Card Account with the Company, or the relevant amount shall be placed on hold pending deduction of the specified amount, after which any remaining amount shall be returned to the Card Account.

Article (6): We shall not be responsible for any failure to complete a transaction, or for any unsuccessful transaction you attempt, if you do not have sufficient funds loaded onto the Card to complete the transaction; the system is interrupted or does not operate correctly; circumstances beyond our control prevent completion of the transaction; or the merchant authorizes an amount greater than the purchase amount. You must verify the amount transferred or debited by means of the receipt issued by the device, the Company’s application, or SMS messages. 

Article (7): You acknowledge and understand that your use of the Company’s Card must comply with the legislation in force in the Republic of Iraq, that the transactions you are authorized to conduct must comply with any regulations or instructions issued by the Central Bank of Iraq, and that you are aware thereof. You may not use your Card for any fraudulent transaction or any transaction suspected of being fraudulent; for the purchase of illegal goods or services; for transactions contrary to public order and morals; for transactions contrary to applicable legislation, including legislation concerning money laundering and terrorist financing; for suspicious transactions; or for transactions that harm the trademark of AlSaqi Electronic Payment Services Company. You agree that the Company has the right to monitor transactions conducted using the Card and to take any measures it deems appropriate, at its sole and absolute discretion, in compliance with applicable law and/or the instructions of the Central Bank of Iraq. You shall bear the resulting financial and legal liability for any such transaction.

Article (8): To the extent permitted by law, you shall indemnify us against any loss or damage that we may suffer or incur as a result of any claim and/or request and/or monetary demand and/or proceeding of any kind made against us, directly or indirectly, because: (a) you failed to comply with your obligations under these Terms and Conditions; or (b) you acted negligently or fraudulently in relation to these Terms and Conditions. 

Article (9): To the extent permitted by law, we shall not be liable to you for any loss or damage (whether direct or consequential), including, without limitation, any loss or damage resulting from our failure to observe or perform any of our obligations for any reason, or for a reason that, despite reasonable care, cannot be controlled or prevented by us. Such reasons include, but are not limited to, force majeure, acts of nature, industrial and other strikes, fires, floods, storms, riots, electricity shortages or failures, unexpected system failure caused by war or sabotage, and acts or omissions of third parties.

Article (10): If the Card is lost or stolen, the Cardholder must notify the Company immediately by contacting the Customer Service Center, followed by written notification of the same. The Cardholder alone shall bear full responsibility for all transactions and movements conducted using the Card from the date it is lost or stolen until the date the Company is notified of the loss or theft. If the Card is subsequently found, the Cardholder must notify the Company thereof in writing. 

Article (11): The Cardholder shall bear full responsibility for all transactions conducted using the Card, including currency-conversion amounts, additional amounts imposed by the merchant, and transactions resulting from misuse of the Card or failure to report it if lost or stolen. 

Article (12): If the Cardholder requests cancellation of the Card after it has been issued, the Company may decline to refund any part of the issuance fee.

Article (13): If the Cardholder requests cancellation of the Card after other fee-based services, apart from issuance, have been made available—whether immediately upon issuance, through activation of the Card, or through its use—and those services continue for the validity period of the Card or for a shorter period that has not yet expired, the Company may, upon accepting the cancellation, retain a proportionate amount of the fees for those services corresponding to the period elapsed from the time the services became available until cancellation of the Card.

Article (14): The Card shall remain valid until the expiration date printed thereon, except where the Company suspends the Card because it is associated with suspicious transactions. In such a case, the Company shall cancel the Card and place a hold on its balance without any warning or notice to the Cardholder, and the Company shall take the measures it deems appropriate in accordance with the instructions, regulations, and laws of the Central Bank of Iraq.

Article (15): The Cardholder must safeguard the Card and keep the Personal Identification Number (PIN) confidential, use it personally and exclusively in accordance with the Terms and Conditions and the instructions issued by the Company, and not deliver the Card or PIN to any third party. The Company shall bear no responsibility arising from use of the Card by a third party or disclosure of the PIN to a third party. All transactions executed using the Card shall be deemed valid and personally approved by the Cardholder.

Article (16): The Card may not be used and shall be deemed canceled upon its expiration and/or damage. A replacement Card may be requested by submitting a Card-replacement application to the Company.

Article (17): Cards are renewed at the Cardholder’s request upon expiration. The Company reserves the right to cancel or reject any request to reissue or renew a Card without being required to provide justification. 

Article (18): The Cardholder shall pay the cost of issuing the Card, the fees charged for cash-withdrawal transactions at automated teller machines, the fees charged for shopping transactions inside and outside the Republic of Iraq, and other fees including, without limitation, the 3D Secure protection service applicable to online shopping transactions. 

Article (19): For point-of-sale transactions, the Cardholder must present the Card to the merchant or service provider and present proof of identity if requested. The Cardholder must verify the amount stated on the receipt before signing it and retain a copy thereof.

Article (20): If the Card’s PIN is entered incorrectly three times while attempting to use the Card at an automated teller machine, the automated teller machine shall retain the Card. In such a case, the Cardholder must notify the Company by contacting the Customer Service Center referred to above in Article (1). 

Article (21): Automated Teller Machine (ATM) records and merchants’ sales slips shall constitute conclusive, final, and binding evidence of transactions conducted by the Cardholder. 

Article (22): The Company may, at any time, add, amend, or cancel any provision of these Terms and Conditions relating to the Card, and any such change shall be binding upon the Cardholder. Any dispute arising between the Cardholder and the Company concerning the interpretation or implementation of any provision hereof shall fall within the exclusive jurisdiction of the courts of the Republic of Iraq and shall not be subject to tribal customs. The Cardholder shall be notified of any material amendment through the application, text messages, the website, or any other means the Company deems appropriate. 

Article (23): If a transaction is posted to the Cardholder’s account indicating that a financial transaction was conducted using the Card without the Cardholder’s knowledge, the Company must be notified immediately by contacting the Customer Service Center so that the Card can be blocked. The Cardholder must visit the nearest branch of the Company and submit a report concerning the transaction within no more than 48 hours from the date of the transaction. Otherwise, no objection shall be accepted and the Cardholder shall forfeit the right to claim the amount.

Article (24): When the Card is issued, the Cardholder must provide a continuously operational telephone number and email address for the purpose of receiving notices concerning financial transactions, activation, Card reloading, monthly statements, and other matters. The Cardholder must update the telephone number when traveling outside the country. Otherwise, the Company disclaims responsibility for any financial transaction occurring because the Cardholder failed to provide a continuously operational telephone number or email address. 

Article (25): Upon receipt of the Card, the Cardholder must read the guide enclosed with it and follow all instructions contained therein. The Cardholder shall forfeit the right to claim any amount deducted as a result of failure to comply with the contents of the Card User Guide.

Article (26): The Cardholder must review the Card Terms and Conditions issued by the Company, which are continually updated, by visiting the Company’s official website (www.alsaqi.iq), as well as the Company’s smartphone application. 

Article (27): If any problem occurs with the Card, the Cardholder must contact the Customer Service Center. 

Article (28): If there is a discrepancy between the amount withdrawn, according to the Cardholder’s statement, and the amount shown in the Company’s records, the Company’s records and electronic systems shall constitute the primary reference for the investigation, unless the contrary is established by reliable technical or legal evidence. 

Article (29): The Cardholder must notify the Company in writing of any changes to the Cardholder’s address. 

Article (30): The Cardholder authorizes the Company to disclose the Cardholder’s data or data relating to the Card Account as the Company deems appropriate or necessary to arrange a service or perform any obligation that may arise in connection with the Card Account. 

Article (31): The Cardholder shall be responsible for any security breach resulting from use of the Card over the Internet through compromised or unsecured websites. The Company shall not be responsible for any breaches that may occur and result in unauthorized withdrawals by a person other than the Cardholder.

Article (32): The Cardholder shall bear any loss or damage resulting from misuse of the Card unless receipts supporting the accuracy of the Cardholder’s account are submitted. 

Article (33): In the event of the Cardholder’s death, the deceased Cardholder’s family must notify the Company so that the Card can be blocked. They must then attend and provide the Company with the certified Sharia Court inheritance certificate for the deceased’s heirs so that the estate may be distributed in accordance with applicable laws and instructions. 

Article (34): These Terms and Conditions shall be subject to the regulations and rules issued by the competent authorities in the Republic of Iraq. Any dispute concerning the use of an Al Saqi Company Card that cannot be resolved amicably shall be adjudicated by the Iraqi courts in Baghdad.

Article (35): The Cardholder must provide the Company with the sources of funds if the Cardholder’s monthly deposit transactions exceed IQD 13,000,000, and must provide the Company with any supporting documentation relating to deposits if this threshold is exceeded, in accordance with the regulations of the Central Bank of Iraq. 

Article (36): The Company has the right to impose restrictions, freeze, or suspend the Card if the Cardholder, beneficiary, or any related party is included on local or international sanctions lists or on approved prohibition or monitoring lists. Any recovery of the balance shall be subject to the relevant instructions and laws. 

Article (37): Subject to the provisions of Article (3) above, the Company shall maintain the confidentiality of the Cardholder’s information and the transactions conducted using the Card. However, the Company may disclose any Card information or transactions to a third party to the extent it deems appropriate and necessary to complete transactions, obtain third-party services, file legal proceedings, comply with legal orders or judgments, or comply with the instructions of the Central Bank of Iraq in cases requiring reporting or otherwise.

Article (38): The Company has the right to correct any operational or system error that results in funds being improperly added, transferred, or posted to the Card or the Customer’s account. In accordance with the legislation, laws, and instructions of the Central Bank of Iraq, the Company may take the measures necessary to remedy such error, including freezing, reversing, or recovering such funds, or deducting them from the available balance to the extent necessary to correct the error and restore the records to their proper position, without the Customer’s prior consent. The Company shall notify the Customer of the measure taken at the earliest possible time whenever practicable and in accordance with applicable legal and regulatory requirements. 

Article (39): The Company has the right to request that the Customer’s information be updated, or that the Customer’s identity or source of funds be reverified, at any time in accordance with compliance requirements and the instructions of the Central Bank of Iraq. The Company may restrict certain services until the required information or verification is completed.

Article (40): The Company has the right to temporarily restrict, suspend, or block the Card or any related service if the Company determines or reasonably suspects that the Card is being used in violation of the law or these Terms and Conditions, or in a manner that may expose the Company, the financial system, or third parties to risk.

Article (41): If the Card is not used or no financial transaction is conducted using it for a period determined by the Company’s internal policies or applicable instructions, the Company may classify the Card as dormant and take the necessary measures in accordance with the relevant laws and instructions.