Terms and Conditions

This Agreement aims to clarify the relationship between the client and Ajyal Financial Solutions Company (“Wafir”), and to define the terms and conditions governing the client’s use of Wafir’s financial platform and services.

Wafir was established in accordance with the laws of the State of Qatar and has obtained a license from the Qatar Central Bank to test its innovative products in a sandbox environment.

Wafir has the necessary capabilities to open accounts and provide financial technology products and services that comply with the regulations and instructions issued by the Qatar Central Bank.

Through this Agreement, the client wishes to establish a financial services relationship with Wafir and benefit from the products and services that the company currently offers or may offer in the future.

These terms govern the client’s relationship with Wafir and specify how the client should use the Wafir mobile application or any other electronic device, or Wafir’s website.

We provide these terms for your review and agreement before granting our approval to complete the registration process on the company’s platform. Registration is a necessary requirement for using the Wafir platform. Registration requires you to fill out a “Know Your Customer” form.

Please read these terms carefully before completing the registration process, as these terms affect your rights and obligations under the laws of the State of Qatar. If you do not agree to these terms and conditions, please refrain from using the Wafir app and/or platform.

Wafir’s products are designed for individual clients only and may not be used on behalf of a third party, whether that is another individual, a legal entity, or a profit or non-profit organization.

By registering for Wafir’s platform services, you acknowledge that you have read, understood, and agree to adhere to these terms. It is agreed and understood by the client that the provisions of this agreement will apply immediately upon Wafir’s approval to open the account and acceptance of you as a client, starting the working relationship, and will be binding on both parties in addition to any other additional terms or conditions agreed upon by both parties in any valid form.

These terms and conditions will apply to the account opened for you and the products and services provided to you (the client) by Wafir. The user acknowledges that they have read the terms and conditions as well as the usage policy terms and agrees to abide by them and any updates that may arise upon their registration with Wafir.

Both parties, being duly competent and authorized, have agreed to comply with the provisions of this agreement under the following terms and conditions:

Definitions

In this Agreement—unless the context indicates otherwise—the words and phrases listed below shall have the meanings set forth next to each:

Wafir: Ajyal Financial Solutions Company (“Wafir”) and any of its innovative products, including the Wafir cooperative savings platform and the Wafir financial associations application.

Client: The natural person who holds the account, is 18 years of age or older and not exceeding 60 years old, and who has registered with Wafir to benefit from its products and services. The client may also be referred to as (user), (beneficiary), or (member). The client is permitted to access the Wafir system and log in to their account using their username and password.

Personal Information: Information related to the identity of the provider, such as name, gender, age, nationality, ID number, email address, contact numbers and addresses, and other provided information.

Client’s Bank Account: A bank account in one of the local banks operating in the State of Qatar, required from the client to deposit all amounts due to them according to their order in the association and the rules governing it.

Association: A savings group created within Wafir that includes a specified number of clients for a specified period and with a specified amount for each member, and with an agreed order among all clients so that the amount is paid by all members on time. The total amount is received by the beneficiary client according to their order in the association after the payment by all members is completed within a maximum of 3 working days.

Adopted Calendar: The Gregorian calendar, which sets all transaction dates, including the start date of the association, monthly payment due dates, and the end date of the association.

Association Order: Refers to the sequence of members in the association to receive the total amount, effective after the member’s approval, provided the association starts, meaning that all members select and approve their order. It may also be referred to as (turn).

Fees: Refers to the fees imposed by Wafir on the services provided, including but not limited to monthly fees, comprehensive fees, and executive order fees.

Requirements and Registration

Wafir, through its innovative products in the sandbox environment authorized by the Qatar Central Bank, provides savings association services to clients wishing to create and manage savings associations, as well as to clients wishing to join them, through the Wafir app available on the Apple AppStore, Google PlayStore, and other app stores.

Wafir’s services are available to Qatari citizens and residents of the State of Qatar who possess valid national ID cards and residency permits. Each ID will only be eligible for one associated account. Wafir reserves the right, at its sole discretion and at any time, to change the terms or requirements.

Registration for Wafir’s services requires the collection of full Know Your Customer (KYC) information and verification of the client’s identity in accordance with Qatar Central Bank regulations, the anti-money laundering system, and its executive regulations.

As part of the KYC process, clients are required to submit the following documents:

Valid Qatari National ID (QID)
National Address Certificate (NAC)
Recent salary certificate (where applicable)
Credit Report (CR report) issued by a recognized credit bureau in Qatar

Wafir reserves the right, at any time, to take all relevant steps and actions necessary to ensure compliance with and adherence to all KYC requirements (“Client Data Form”) that apply.

The client certifies that all information provided is correct, complete, and accurate.

Upon registration with Wafir, the client will receive a confirmation notice affirming successful account creation.

Upon registration with Wafir, the client will receive an activation code that must be entered in the app to activate the account. The client may change the activation code at any time and should do so immediately for security purposes.

Wafir reserves the right, at any time, to refuse the application and deny acceptance of the client in the event of any discrepancies or inaccuracies in the information or documents provided by the client, or if there is cause for doubt regarding the accuracy of the data.

The client alone is responsible for the accuracy of the information provided to Wafir. If the information provided by the client is found to be incorrect, false, or misleading, Wafir assumes no responsibility or liability for any consequences arising from the provision of such incorrect, false, or misleading information. If the client becomes aware of or suspects any inaccuracies in the information provided regarding their account, the client should notify Wafir by contacting us at Hello@Wafir.app as soon as possible. If Wafir discovers that the information provided by the client is incorrect, false, or misleading, Wafir reserves the right to terminate the client’s account at any time and close it, with or without notice. Termination by Wafir will be effective immediately or as specified in the notice issued by Wafir. Termination will include disabling the client’s access to the app, whether for a specified or unspecified period.

“Wafir” App Terms

The client’s account on “Wafir” remains active for one year from the date of the last transaction or account activation.

By applying to “Wafir,” clients fully consent and authorize Wafir to collect client data from any financial agency, institution, or any other financial reporting agency for the purpose of investigating or determining client eligibility.

Clients grant their full consent and authorization to Wafir to request personal information or data related to the “Know Your Customer” process, such as a bank statement for a specific period or an employment verification letter. If the client does not respond and provide the required documents to Wafir within 5 business days, Wafir has the right to exclude the client from the association and transfer the paid fees to a payment balance for the client, valid for three months.

Wafir is not permitted to disclose any personal information, documents, or account details of the client except when requested by competent authorities such as the Qatar Central Bank or other relevant government agencies.

The client is obligated to follow all relevant instructions issued by Wafir. If the client suspects unauthorized use of login data or any breach of information, they must notify Wafir immediately via email info@Wafir.app

All users can access the application after agreeing to the terms and conditions. Clients must always update the electronic version of the app, and the operating system used through approved app stores.

Wafir has the right to impose fees according to its services and announce them through its electronic channels or branches. This is in exchange for services provided through the Wafir app and platform.

Wafir always seeks to execute client instructions and is not liable for any consequences, claims, damages, or losses arising from the execution of these instructions, unless due to Wafir’s negligence or fault.

The client is always responsible for notifying Wafir of any changes to their email address or other information and for any delay in receiving payments due to them, with Wafir being relieved of any claims arising from this.

The client must immediately notify Wafir of any objections or suspicions regarding unauthorized transactions on their account.

Wafir reserves the right to change or modify the terms and conditions related to the account. Changes will only be effective after being announced through Wafir’s available channels to clients. If the client does not agree with the changes, they have the right to close their account and settle their current liabilities with Wafir.

Wafir has the right to place the client’s account under legal observation, suspend, freeze, or suspend it upon request from regulatory authorities.

The client is obligated to maintain the confidentiality of all their data with Wafir and is responsible for any consequences arising from the disclosure of such data.

The client acknowledges that they are the actual beneficiary of their account and all related services and products and commits to not using the account for unlawful purposes.

The client agrees to indemnify Wafir for any losses, claims, damages, consequences, or legal or judicial expenses arising from their breach of the terms and conditions of the agreement.

Data Protection and Confidentiality

The privacy of communications in Wafir is subject to the terms issued by the Qatar Central Bank and its decisions and directives. The client agrees that, to facilitate the provision of Wafir’s platform services, Wafir may be required by law or otherwise to disclose any information or details about the client to any government agency.
User graphics, logos, designs, compilations, information, and computer code (including source code and object code), as well as products, programs, services, and all other elements in Wafir’s platform services (“Materials”) are protected by copyright, design, patent, trademark laws, international agreements, and other applicable intellectual property rights.
Access to and use of personal and financial information of the client is restricted to authorized employees only. Wafir must use all reasonable measures to ensure that client transactions and information remain secure and confidential.
Wafir makes no warranties of any kind regarding the system, network, or its functionality or performance, or any loss or damage incurred by the client or any other person because of or in connection with the use of the Wafir platform services.

Disclaimer and Indemnity

The application and materials available on it, including any product or service obtained through it, are provided “as is” without any warranties of any kind, either express or implied, according to applicable law. Wafir does not guarantee that your use of the application will be uninterrupted, error-free, or secure, nor does it warrant that defects will be corrected or that there are no viruses or harmful components in the application.

The client acknowledges that they are responsible for obtaining all necessary mobile devices and other equipment required to access and use the application and assumes all responsibility and risks related to their use of the application and reliance upon it. Wafir provides no opinions, advice, or statements, whether through the application or otherwise, and no warranty can be inferred from such statements.

By using the application and services available on it, the client agrees to assume all responsibilities and risks associated with them. Wafir does not provide any explicit or implied warranties or guarantees except as expressly stated in this document.

Wafir is not responsible for any acts or omissions of any third party, including services not explicitly authorized by Wafir. It also assumes no responsibility for any delays, business losses, revenue losses, expected savings, damages, fees, costs, or expenses arising from the use or non-availability of its services.

By using Wafir’s services, the client agrees to indemnify Wafir, including legal fees arising from their use or misuse of the services or any violation of these terms and conditions or any breach of warranties and representations.

Please review these terms regularly, as Wafir may modify them at any time. Continued use of Wafir’s services after changes are published will constitute acceptance of these changes.

Changes to Terms and Conditions

Wafir has the right to make any changes to these terms at any time. Wafir must provide clients with an updated version of the amended terms. These changes will be published and announced via SMS, on the Wafir website, through the Wafir platform app, or any other appropriate means, which is sufficient to formally notify the client.

Continued use of the Wafir platform services after changes to the terms are announced will be considered as the client’s acceptance of these modifications

General Terms of the Agreement

Other services of Wafir and any subsequent agreements between Wafir and the client regarding services and products related to the account are governed by the terms and conditions of this agreement and are considered an integral and complementary part of it unless explicitly stated otherwise in specific agreements for each product or service.

This agreement is indefinite and remains in effect until either party (Wafir or client) decides to terminate it, or Wafir closes the account according to the conditions specified in this agreement.

The client must immediately notify Wafir of any complaints or objections related to the account or any other services provided by Wafir. Such complaints and objections must be submitted through the channels specified by Wafir.

If any provision of this agreement is found to be in violation of applicable laws or becomes so under the law or a judicial ruling, the invalidity will only apply to that provision without affecting the validity of the remaining terms and conditions.

Any dispute arising between the parties that cannot be resolved amicably must be resolved by the competent judicial authority in the State of Qatar.

This agreement has been executed in both Arabic and English, with the Arabic text being the authoritative version for the implementation and interpretation of the agreement.

The client acknowledges that they have read and agreed to the terms and conditions of this agreement and commits to complying with them. These terms and conditions will apply to all their dealings with Wafir, including the account, savings associations, and other services provided by Wafir, as well as the documents, forms, appendices, and requests related to the account or savings association. They also confirm the accuracy of all data included in this agreement and the accuracy and integrity of the data provided by Wafir.

Governing Law

This agreement is governed by and shall be interpreted and enforced in accordance with the regulations, laws, and instructions issued by the relevant authorities in the State of Qatar.

Client Obligations on the “Wafir” Platform

The client commits to joining a savings association that aligns with their monthly income, according to the credit policy of the Qatar Credit Information Center, as determined from time to time. The association will establish and approve a credit limit based on the client’s monthly income, with a maximum expenditure limit not exceeding QAR 5,000 per month across all platforms. This limit is set to ensure it does not exceed 40% of the client’s income after accounting for other financial obligations.

If the client fails to meet the membership requirements, “Wafir” has the right to exclude the client from the association, and the paid fees will be transferred to a client payment balance valid for one month, or a portion of the paid fees will be deducted, with the remaining amount refunded to the client.

The client is obligated to pay the association amount by the specified deadline. “Wafir” may grant an extension of up to two consecutive working days or six separate working days per association, at its discretion and based on the client’s record.

In case of an emergency, the client may request a payment deferral service for a fee starting from QAR 100 for a period of two weeks. Approval of the request is required within 48 hours of its creation. If approval is not obtained within this period, a new request must be submitted with a new fee to complete the service.

Account Closure or Suspension:

“Wafir” reserves the right to suspend or stop the client’s account services, either partially or fully, or to block, restrict, or terminate the account, or suspend the use of any activation codes, at any time and without liability to the client in the following cases:

If “Wafir” has reason to believe the client’s account is being used to obtain services from the “Wafir” platform contrary to the disclosed information or for illegal activities.
If any regulatory, governmental, or other authority initiates an investigation or takes regulatory, administrative, or executive actions against the client, or any action that could affect “Wafir’s” institutional image.
If the client fails to comply with the terms, regulations, or instructions related to the use of “Wafir’s” services, including the terms of use.
If no association is created or joined within one year of opening the account.

Additionally, “Wafir” reserves the right to block or suspend the account for a specified period or permanently in the following situations:

Upon the client’s request to close the account via the application or customer service department, provided there are no financial obligations towards members or “Wafir” and its services.
Due to technical faults, modification, upgrades, changes, transfers, repairs, or maintenance caused by emergencies or technical reasons.
For any suspected violation of the rules, regulations, orders, guidance, and notifications issued by the Qatar Central Bank or any violations of the terms and conditions outlined in this document.
If “Wafir” has reason to believe termination or suspension is necessary at its discretion.
In cases of repeated incorrect login attempts using client data.
In cases of attempts to hack the application using client data.
After withdrawal from the association or cancellation of membership.
In cases of verbal abuse towards the company or its staff, whether the person is a member of the association.

“Wafir” is not liable to the client for any loss, defect, or direct or indirect damages resulting from any actions or negligence by the client concerning their account status when it is closed, suspended, or blocked.

The client’s account is considered a personal privilege during their lifetime. In the event of the client’s death, the remaining balance will be considered a privilege for their legal heirs after presenting a valid death certificate to the customer service center.

In the case of any service operational faults, “Wafir” will be responsible and will work to mitigate any potential damage.

Account Suspension/Blocking After Joining the Financial Association:

“Wafir” has the right to block, freeze, restrict access to the client’s account, or create new associations in the following cases:

When the client decides to withdraw from the association.
If the association is deleted after creation.
In the event of a payment default on the due date.
If the client fails to provide documents verifying the accuracy of entered information, or as requested by the “Wafir” team for verification and review.
In cases of manipulation or misrepresentation in the client information form or any information requested by “Wafir”.
In cases of verbal abuse towards the company or its employees, whether the person is a member of the association.

These actions are taken by “Wafir” flexibly and at its discretion, considering internal policies and regulations to support the integrity of services and data security.

Fees:

The client must pay the service fees specified on the “Wafir” platform in the manner and form prescribed for such payments. “Wafir” reserves the right, at its discretion, to change, modify, increase, or decrease service fees from time to time, with proper notice to the client. “Wafir” is committed to announcing any changes to available services through various media, including but not limited to applications, websites, newspapers, text messages, marketing materials, and social media.

Activities Enabled by the “Wafeer” Account:

Monthly Financial Associations:

After completing each main activity on “Wafeer,” the client will receive an SMS or in-app notification describing the financial transaction. All registrants on “Wafeer” are subject to a presumption of accuracy that can be contested. All fees related to services provided by Wafeer are non-refundable unless the association is completed in full. Requests for fee refunds must be sent within 30 days. For periodic details on fees, please visit the FAQ section related to fees.

Withdrawal, Exclusion, and Refund Policy:

The withdrawal, exclusion, and refund policy is an integral part of the terms and conditions. By agreeing to these terms and conditions, the client also agrees to the withdrawal, exclusion, and refund policy. The client must follow all terms of this policy, acknowledging the right of Wafeer to make any amendments or changes at any time, in accordance with principles and rules protecting financial institution clients. The client must be notified of any changes to the terms and conditions via approved channels at least 30 days before the changes take effect.

This policy governs cases of withdrawal, exclusion, default, and dissolution of associations related to the fee amount or payments made by the client to “Wafeer.” Refunds are processed via a bank transfer to the beneficiary’s account registered in the “Wafeer” app or via a reversal to the same bank card used for the payment.

Withdrawal from the association is handled directly through the app, and the policy outlines withdrawal cases as follows:

Firstly: Withdrawal Before the Association Start Date:

1. If withdrawal occurs within 24 hours of joining the association, the client’s account will be blocked and a request to lift the block must be made. Fees will be refunded to the client’s account after a deduction of 250 Qatari Riyals within 14 days.

2. If withdrawal occurs after 24 hours but before 48 hours of joining, the client’s account will be blocked and a request to lift the block must be made. 50% of the fees will be refunded to the client’s account within 14 days.

3. If withdrawal occurs after 48 hours from joining the association, the client’s account will be blocked and a request to lift the block must be made. Fees paid are non-refundable.

Secondly: Withdrawal After the Association Start Date:

1. If the client has not received the association amount and has not made any monthly payments, the client’s account will be blocked, and the fees paid are non-refundable.

2. If the client has not received the association amount but has made one or more monthly payments, the client’s account will be blocked, and the fees are non-refundable. Payments made will be refunded after deducting the withdrawal fee, which is either 1000 Qatari Riyals or the amount of two monthly payments, whichever is higher.

3. If the client has received the association amount, withdrawal can only occur after settling all remaining amounts in the association.

Exclusion from the association is in accordance with the terms and conditions policy, where “Wafeer” reserves the right to exclude the client in certain cases, such as an income level that does not match the monthly payment amount or defaulting on payment after the due date.

Refunds are settled to the client from fees or association payments within 14 days after financial clearance with the client.

This policy aims to regulate and facilitate the process of withdrawing from associations according to the specified terms and conditions while ensuring client rights and maintaining the sustainability of the services provided.

Default and Legal Claims:

If the client fails to pay the monthly association amount by the due date, Wafeer has the right to permanently block the client’s account, exclude them from the association, enforce the order with judicial authorities, and take all legal measures to protect the company’s and its clients’ rights.

Disputes:

This policy is subject to the relevant laws and regulations applicable in Qatar. In case of any disputes regarding the withdrawal, exclusion, and refund policy, the client may file a complaint with the relevant authority (Qatar Central Bank) or specialized courts and committees in Qatar for review and resolution.

Client Consent:

Under this agreement, I confirm that I have read and clearly understood the content. By agreeing to the above, I acknowledge and agree to the following:

1. I authorize “Wafeer” to access my personal information via another platform for verification.

2. I authorize “Wafeer” to access my financial records for credit registration purposes through the Qatar Credit Information Center.

3. I authorize “Wafeer” to access my financial records regarding my employment history from social insurance or pension funds.

4. I acknowledge that it is my responsibility to review my account data and relevant notifications upon receiving the related notice.

5. I agree to pay “Wafeer” any credits or fees incurred on my account.

6. I agree to be responsible for any damages, costs, or account termination resulting from my failure to acknowledge my account data and relevant notifications.

7. I agree to notify “Wafeer” in writing or by phone of any changes to my account information or other information provided in relation to these terms.

8. I hereby agree to provide “Wafeer” with any information or data it requests from me to establish and/or review and/or manage my account. I authorize the company to obtain any necessary information about me or my mentioned account or any other account with the company from the Qatar Credit Information Center. I also agree that the company may disclose my information and my mentioned account or any other account with the authorized Qatar Credit Information Center through the membership agreement and approved business rules for information exchange and/or to any other party approved by the Qatar Central Bank.