PRIVACY POLICY

First: Introduction

Al-Saqi Electronic Payment Company is an Iraqi company licensed under Iraqi laws and licensed by the Central Bank of Iraq to provide electronic payment services. The Company provides its services to individual customers and institutions in a secure and reliable manner, while adhering to the highest standards of data protection.

Al-Saqi Electronic Payment Company is committed to protecting the privacy of its users and ensuring the confidentiality of their Personal Data while they use the website, applications, and related digital services. This Policy aims to explain how information is collected, used, and protected, and the rights of users relating thereto. This Privacy Policy applies to all services provided by the Company and constitutes an integral part of the Terms and Conditions of Use.

Second: Data We Collect

We collect the following data to ensure that services are provided efficiently and securely:

•   Personal Data

– Full name, telephone number, email address, and residential address.

– Identity information: National ID number, passport, and personal photograph.

– Additional data, when required, for Know Your Customer (KYC) purposes and compliance with Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) laws.

•   Device and Usage Data

– Device type, operating system, and unique device identifiers.

– Browsing history within the website or application, activities and financial transactions, time and date, and pages visited.

•   Financial and Transaction Data

– Payment details and records of financial transactions conducted through the application.

– Data related to the Source of Funds, when required in accordance with Regulatory Requirements.

Third: Purposes of Data Use

We use Personal Data for the following purposes:

•   Verifying identity and complying with the instructions of the Central Bank of Iraq.

•   Executing and processing payment transactions and financial services.

•   Managing accounts, enhancing security, and supporting customers.

•   Sending service-related notifications and alerts.

•   Complying with legal and regulatory requirements.

Fourth: Sharing Data with Third Parties

We may disclose Personal Data in the following cases:

•   To comply with laws, instructions, or official requests issued by competent regulatory or judicial authorities.

•   During a sale, merger, or transfer of assets to another company.

•   To protect the Company’s rights or combat fraudulent activities.

All parties are required to maintain Data Confidentiality and not use the data for purposes other than those specified.

Fifth: Data Protection

We apply the highest technical and organizational security standards to protect data, including:

•   Encryption of data during transmission and storage.

•   Firewalls and advanced Security Monitoring Systems.

•   Access to data is restricted to Authorized Employees only.

•   Periodic review of Cybersecurity procedures and reduction of intrusion risks.

Sixth: Data Retention

Al-Saqi Electronic Payment Company retains users’ Personal Data for the period necessary to achieve the purposes for which it was collected, or in accordance with the applicable Legal and Regulatory Requirements issued by the competent authorities, including the instructions of the Central Bank of Iraq. Upon expiry of the retention period or cessation of the legitimate need for the data, it shall be deleted or destroyed by secure means in accordance with the Company’s approved policies and procedures. Personal Data shall not be deleted or destroyed where there is a legal or regulatory obligation requiring it to be retained for a specified period, or where retention is required for compliance, audit, investigation, or to respond to requests from the Competent Regulatory and Legal Authorities.

The Company shall retain records, documents, and supporting materials for five years from the date of termination of the customer relationship, the date of account closure, or the date of execution of a transaction for an Occasional Customer, whichever is longer. These records specifically include copies of all records obtained through the Due Diligence process for verifying transactions, including customer and Beneficial Owner identification documents, accounting files, and business correspondence, in addition to all domestic and international transaction records, whether actually executed or attempted but not completed.

Seventh: User Rights

•   Accessing and reviewing his or her Personal Data.

•   Requesting correction of any inaccurate or incomplete data.

•   Objecting to any Financial Transaction not carried out by the user and requesting its review in accordance with the objection mechanisms approved by the Company and the Regulatory Authorities.

User requests shall be submitted through the Company’s approved official communication channels and shall be handled in accordance with internal procedures and the applicable legal controls.

Eighth: Reporting Personal Data Breaches

In the event of any Personal Data Breach that may affect the confidentiality, integrity, or availability of data, Al-Saqi Electronic Payment Company shall take the necessary measures to contain the incident and mitigate its consequences, report it in accordance with the applicable Legal and Regulatory Requirements, and notify the relevant authorities and affected persons whenever required under the relevant laws and instructions.

Ninth: Cookies

We use Cookies to improve the user experience, analyze usage, and provide personalized services. Users may control the acceptance or rejection of Cookies through their browser settings.

Tenth: Changes to the Privacy Policy

The Company reserves the right to amend or update the Privacy Policy, when necessary, in a manner consistent with legal or operational requirements. Users will be notified of any material updates through the website or application.

Continued use of the services after publication of the updates shall constitute implicit acceptance thereof.

Eleventh: Contact Us

For any inquiries related to the Privacy Policy, please contact us through:

Email: info@alsaqi.iq

Telephone No.: 7787

By using the website, you agree to the terms of this Privacy Policy.