Terms & Conditions

  1. Introduction:

    These "Terms and Conditions for Using the Ajdar for Financial Technology Platform," hereinafter referred to as ("the Agreement"), constitute the agreement between Ajdar for Financial Technology (referred to hereafter as "the Company") and the user. These terms and conditions outline the obligations and rights between the Company and the user when utilizing the services of the platform. The user must read and understand these terms carefully before using the platform and seek legal advice if they do not fully understand or comprehend all the provisions of the Agreement.

  2. Definitions:

    The phrases and terms mentioned in this section, wherever they appear in this Agreement, shall have the meanings specified next to each of them, unless the context requires otherwise:

    The Agreement

    These "Terms and Conditions for Using the Ajdar Financial Technology Platform," which govern the user's use of the platform's services.

    The Company

    Ajdar Financial Technology Company, authorized by the Capital Market Authority's "Financial Technology Lab" to establish a platform for organizing and offering debt instruments and investment in them, with commercial registration number (1010689356) and unified entity number (7021601542), headquartered in Riyadh.

    The User

    The natural or legal person authorized to benefit from the platform's services and subject to the terms of this Agreement.

    The Platform

    An electronic platform owned by Ajdar Financial Technology Company, offering investment opportunities in debt instruments by connecting investors with applicants seeking funding.

    Related Parties

    The company's directors, board members, managers, employees, representatives, agents, or any of their family members, and any specific cases defined in the glossary of terms used in the regulations and laws of the Capital Market Authority

    Funding Applicant

    The natural or legal person benefiting from the funding provided through the platform by issuing debt instruments, resulting in investment transactions involving the ownership and purchase of securities through the platform.

    The Kingdom

    The Kingdom of Saudi Arabia.

    User Account

    The account created by the user on the platform, allowing access to the platform's services.

    Password

    The symbols, characters, and numbers that allow the user to access their user account.

    Personal Data:

    Any information, regardless of its source or form, that can directly or indirectly identify a natural person's identity or make them identifiable in a specific manner.

    Conflict of Interest

    Any situation where the personal interests of any of the related parties’ conflict with the interests of the company or users, in a way that could affect decision-making with impartiality and integrity.

  3. Terms of the Agreement:

    1. This Agreement governs the terms and conditions for using the platform and benefiting from all of its services, including services related to the wallet and user account, depositing investment amounts, withdrawing funds from the wallet, and all contractual relationships with the company.
    2. The terms of this Agreement become binding on the user upon their registration on the platform.
    3. The company may modify the terms of this Agreement at its discretion, with the effect of the modification taking place after notifying the user 30 business days before the date of implementation.
    4. Using the platform after being notified of the modifications shall be considered as acceptance of these modifications.
    5. This agreement is considered indefinite in duration, and its provisions regarding liability and indemnity shall remain applicable even after the cancellation of the user's account.

  4. User Account Creation:

    1. Registration and account creation on the platform are limited to:
      1. Saudi individuals, citizens of Gulf Cooperation Council (GCC) countries, and residents in the Kingdom who are over 18 years old and have full legal capacity.
      2. Companies and legal entities registered in the Kingdom or authorized to operate in the Kingdom of Saudi Arabia, represented by legally authorized individuals.
    2. The user must provide accurate and complete information during registration.
    3. The user is obligated to update their information immediately in the event of any changes or upon request by any governmental or judicial authority.
    4. The company reserves the right to suspend any account that contains inaccurate or misleading information.
    5. Legal entities must have authorized individuals to deal with the platform. The legal entity bears full responsibility for all actions taken by its authorized representatives on the platform.
    6. The user is responsible for maintaining the confidentiality of their password.
    7. The user must immediately notify the company of any unauthorized use of their account.

  5. Platform Use:

    1. The user must use the platform only for its intended purposes.
    2. The content of the platform is exclusively owned by the company, and the user may not copy, distribute, or use it for commercial purposes without prior written consent from the company.
    3. The user is prohibited from using the platform in any way that may damage its performance or functionality, or interfere with its operation.
    4. The company reserves the right to suspend or terminate any user's access to the platform if they violate these terms and conditions.

  6. Virtual Wallet:

    1. The wallet provides an investment service in debt instruments offered on the platform.
    2. The user may not use the wallet for any purposes other than those specified in this Agreement.
    3. The company has the right – at its sole discretion – to retain funds in the wallet or impose partial restrictions on access to them in the event of ongoing disputes, to protect the company from any security or financial risks, if the user violates any of the terms and conditions set forth in this Agreement, or if any suspicious activity is detected on the wallet.

  7. Suspension of User Account:

    1. The company reserves the right to suspend the user's account and terminate the Agreement in any of the cases specified in this Agreement, at its sole discretion, to protect the company's interests and the interests of the platform's users.
    2. Instances of suspending the user's account include, but are not limited to:
      1. The user's violation of any of the terms of this Agreement or any other agreement related to the use of the platform.
      2. Providing false or misleading information.
      3. Suspected illegal or fraudulent activity, or the appearance of suspicious or unusual actions in the user's account.
      4. Negative uses of platform that would have an implication on the company
      5. The user's neglect of their account and failure to use it for a period of time determined by the company.
      6. For the purpose of developing the platform or the products offered within it, whether such action was previously announced on the platform or not.
    3. In the Event of Account Suspension:
      1. The company will notify the user and clarify the reasons for the decision.
      2. Without prejudice to the relevant regulations, the user has the right to request the refund of any remaining funds in their account after deducting any applicable fees or outstanding obligations.
      3. The company shall not be liable for any actual or potential damages that may occur to the user due to the suspension or termination of their account.
      4. The user does not have the right to retain any content related to the platform after their account is suspended or terminated.
    4. The user retains the right to terminate the Agreement and voluntarily suspend their account at any time, subject to any existing obligations or ongoing transactions.
    5. Upon termination of the Agreement and suspension of the account, whether by the company or the user:
      1. All rights and licenses granted to the user under this Agreement shall immediately terminate.
      2. The user must immediately cease using the platform and all associated services.
      3. Provision related to intellectual property rights, confidentiality, indemnity, and liability limits shall remain in effect even after account suspension.
    6. The company reserves the right to take any legal action against the user in the event of a violation of the terms of this Agreement, even after account suspension.

  8. Risk and liabilities:

    1. The company confirms that the investment opportunities offered on its platform are high-risk investments.
    2. The user acknowledges their understanding of the risks associated with investing in debt instruments, including the possibility of losing the entire amount invested.
    3. The user is responsible for assessing their financial capacity and ability to bear risks before investing.
    4. The company does not guarantee any returns or profits from the investments offered on the platform.
    5. The company disclaims any liability for losses the user may incur as a result of investing through the platform, unless such losses are due to gross negligence or fault on the part of the company.
    6. The company is not responsible for any damage that may arise from false information provided by the borrower.
    7. The user must evaluate the available investment opportunities based on the information provided by the borrower and the details regarding the risks outlined in the relevant prospectus, including reasons beyond the control of the borrower, such as, but not limited to, economic conditions and factors affecting the borrower's activities.

  9. Personal Data Protection:

    1. Ajdar for Financial Technology ("the Company") is committed to protecting the privacy of the personal data of the users of the Ajdar Financial Technology platform on the website: (ajdar.sa), in accordance with the Personal Data Protection Law and its executive regulations in the Kingdom of Saudi Arabia. This section outlines how your personal data is collected, used, and protected.

    2. Contract Information:

      For inquiries about your personal data::
      Address: Kingdom of Saudi Arabia, Riyadh, 7060 Al Takhasasi, Al Muhammadiyah Dist.
      Email: compliance@ajdarft.com
      Phone number: 920013952

    3. Personal Data We Collect:
      The company collects and processes the following personal data:
      1. Identity data: full name, national ID/residence number, date of birth, nationality.
      2. Contact data: national address, phone number, email address.
      3. Financial data: bank account number (IBAN), bank card information, financial transaction history.
      4. Investment data: investment history, investment preferences, investment amount.
      5. Usage data: login records, user activity on the platform.
      6. Cookies data: information about how you use the platform.
    4. Methods of Data Collection and Their Purpose
      1. Methods of personal data collection
        • Direct: through registration and investment forms on the platform, and direct communication with you.
        • Indirectly: through cookies, website usage analytics, and publicly available sources.
      2. Main purpose of data collection:
        • To create and manage the user's account on the platform.
        • To provide investment services and manage the investment portfolio.
        • Compliance with "Know Your Customer" (KYC) requirements and Anti-Money Laundering (AML) and counter-terrorism financing (CTF) regulations.
        • To improve the user experience and develop our services.
        • To communicate with users regarding services, offers, and important updates.
        • To conduct studies and statistical research to develop services.
      3. Legal basis for collecting and processing data:
        • Explicit consent to collect and process your data.
        • To fulfill the contractual obligations.
        • Compliance with legal and regulatory requirements imposed by relevant authorities.
        • To achieve the legitimate interests of the company without infringing rights and fundamental freedom.
    5. Use and sharing of personal data
      1. The company uses personal data for:
        • To assess investment applications and manage investment portfolios.
        • To conduct due diligence and identity verification processes.
        • To provide technical and customer service.
        • To send updates and notifications related to the service.
        • To analyze user behavior to improve the services provided.
      2. The company may share your personal data with:
        • Regulatory and governmental authorities when necessary (such as the Capital Market Authority)
        • External service providers (such as payment services and identity verification) who comply with data protection standards.
        • Companies offering investment opportunities available on the platform, after user consent.
      3. The company is committed to not selling, renting, or sharing your personal data with third parties for marketing purposes without your explicit consent.
    6. Storage and Retention of Personal Data
      1. The company stores your personal data on secure servers within the Kingdom of Saudi Arabia.
      2. The company retains your personal data for the duration necessary to achieve the purposes for which it was collected, or in accordance with legal and regulatory requirements, whichever is longer.
      3. The company takes all necessary technical and organizational security measures to protect your data from unauthorized access, damage, loss, or unlawful alteration.
    7. User Rights Regarding Personal Data

      In accordance with the Personal Data Protection Law and related regulations, you have the right to:

      1. The right to know how we collect your personal data and the legal basis for collecting and processing it.
      2. The right to access your personal data and request a copy of it.
      3. The right to request correction of your personal data if it is inaccurate or incomplete.
      4. The right to request the deletion of your personal data that is no longer needed.
      5. The right to object to the processing of your data for direct marketing purposes.
      6. The right to withdraw your consent for data processing at any time, without affecting the legality of the processing that occurred prior to the withdrawal of consent.
      7. The right to obtain your data in a structured, commonly used, and readable format.

      To exercise these rights, please contact the Personal Data Protection Officer. We will respond to your request within 14 business days from the date of receipt.

    8. Complaint submission and objection

      If you have any complaint or objection regarding the processing of your personal data:

      1. You can contact the customer service department at support@ajdarft.com.
      2. We will respond to your complaint within 5 business days.
      3. If you are not satisfied with our response, you have the right to contact the Saudi Data and Artificial Intelligence Authority (SDAIA).
    9. Privacy policy updates

      The company reserves the right to modify this policy from time to time. You will be notified of any significant changes at least 30 days before their implementation via the registered email or through a prominent notice on the platform.

    10. Policy approval

      By using the Ajdar Financial Technology platform, you acknowledge that you have read, understood, and agreed to this policy. If you do not agree with any part of this policy, please refrain from using the platform or providing any personal data.

  10. Fees and Payments:

    1. The company imposes fees for certain services provided through the platform. These fees are clearly disclosed on the platform.
    2. The user agrees to pay all applicable fees associated with the use of the platform’s services.
    3. The company reserves the right to modify the fees at any time, with users being notified at least 30 business days before the changes take effect.
    4. All fees are non-refundable unless explicitly stated otherwise.

  11. Investment Refund Policy:

    1. Users cannot request a refund of their funds after they have been invested on the platform, except in accordance with the terms and conditions outlined in the relevant offering documents.
    2. If a particular investment opportunity is not fully funded, the company will refund the invested amounts to the investors within 5 business days from the date of the cancellation.
    3. If the company cancels an investment due to compliance or risk-related reasons, the funds will be refunded to the user within 10 business days.
    4. The company reserves the right to deduct any applicable fees before processing any refund.

  12. Conflict of Interest:

    1. The company is committed to disclosing any actual or potential conflicts of interest that may affect its decisions or services.
    2. Examples of conflicts of interest include, but are not limited to:
      1. Ownership or board membership of any related parties in the companies issuing debt instruments on the platform.
      2. The existence of a conflict of interest between related parties and the funding applicants.
      3. The investment of related parties in the investment opportunities offered on the platform under preferential terms.
    3. Related parties must immediately disclose any potential conflicts of interest to the company.
    4. The company is obligated to take the necessary actions to manage conflicts of interest in a way that protects the interests of users.
    5. The company has the right to reject any funding or investment request if it believes that it involves a conflict of interest that cannot be appropriately managed.
    6. The company reserves the right to request additional information from users to verify the absence of any conflict of interest, and may reject any investment request if it suspects the presence of such a conflict.

  13. Compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF):

    1. The company is committed to complying with all laws and regulations related to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) in the Kingdom of Saudi Arabia.
    2. The user agrees to provide all required information and documents to comply with the Know Your Customer (KYC) procedures and Anti-Money Laundering (AML) regulations.
    3. The company reserves the right to refuse or suspend any transaction or user account if it suspects any illegal or suspicious activity.
    4. The user undertakes not to use the platform for any unlawful purposes, including money laundering or financing terrorism.
    5. The company is committed to reporting any suspicious activity to the relevant authorities in accordance with applicable laws.

  14. Intellectual Property:

    1. All intellectual property rights related to the platform, including but not limited to copyrights, trademarks, patents, are the exclusive property of the company.
    2. The user may not copy, modify, distribute, or reproduce any part of the platform without prior written consent from the company.
    3. The user grants the company a non-exclusive, irrevocable license to use any content provided by the user on the platform.

  15. Indemnification:

    1. The User agrees to indemnify and hold the Company harmless from any claims, losses or damages (including legal fees) resulting from:
      1. User's violation of any terms of this agreement.
      2. Unauthorized user use of the platform.
      3. User's violation of the rights of any third party.
    2. The User waives the right to claim compensation from the Company for any damage arising from:
      1. Violation of the provisions of this agreement.
      2. Any damage resulting from unauthorized use of platform services by the user.
    3. If the Company receives any claim or suit from a third party due to the User's actions or violations, the User is obligated to fully cooperate with the Company in defending itself against such claims or suits.
    4. The Company reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by User. In such events, User agrees to cooperate with the Company in asserting any available defenses.
    5. This clause does not exempt the User from liability for any direct damages caused to the Company as a result of his or her intentional acts or gross negligence.
    6. This indemnification obligation shall continue even after the termination or expiration of this Agreement.

  16. Liability and responsibility limits:

    1. The company is not responsible for any indirect, incidental, special, or consequential damage resulting from the use of the platform.
    2. The company's maximum liability towards the user is limited to the fees paid by the user to the company during the 12 months prior to the incident that led to the claim.

  17. Prohibited Actions:

    The company prohibits the issuance of debt instruments for activities and projects that violate applicable legal provisions. The company may prevent any action that leads to a suspicious incident, including suspicions of money laundering and terrorist financing. The company works to achieve this by taking all legal measures used to combat these violations.

  18. Governing Law and Dispute Resolution

    1. This agreement is governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia.
    2. In the event of any dispute between the company and the user, both parties must attempt to resolve the dispute amicably.
    3. If the dispute cannot be resolved amicably, the dispute will be referred to the Committee for the Resolution of Securities Disputes in Riyadh.

  19. General Provisions:

    1. The user may not assign their rights or obligations under this agreement without prior written consent from the company.
    2. If any provision of this agreement is deemed invalid or unenforceable, the remaining provisions shall remain in effect.
    3. The company's failure to exercise any right or provision under this agreement shall not be considered a waiver of that right or provision.
    4. This agreement constitutes the complete agreement between the company and the user regarding the use of the platform and supersedes any prior agreements.
    5. The company must notify affected customers of any changes to the terms and conditions of use at least 30 days before the implementation of any such changes.

  20. Communication and Notifications:

    1. Users agree to receive notifications and communications from the company electronically, either via email or by posting notifications on the platform.
    2. Any notifications sent to the email address you provided during registration are considered valid and effective.

By using the platform, you acknowledge that you have read, understood, and agreed to comply with all the terms and conditions mentioned above.


Last updated: 11/18/2024

To contact the company:
  • Address: Kingdom of Saudi Arabia, Riyadh, 7060 Al Takhasasi, Al Muhammadiyah Dist.
  • Email: support@ajdarft.com
  • Phone number: 920013952

Capital Market Authority Publications

Ajdar Fintech is a company incorporated persuant to the laws and regulations of the Kingdom of Saudi Arabia, with a Commercial Registration No. (1010689356), the unified national number (7021601542), and its national address is the Kingdom of Saudi Arabia, Riyadh, 7060 Al Takhasasi, Al Muhammadiyah Dist. Ajdar is permitted by the Capital Market Authority to establish a platform for offering and investment in debt instruments as part of the Fintech sandbox.