Wahed Client Agreement

This BROKER SERVICES AGREEMENT governs the relationship between the client, whose name, address and details are set out in the account application (the “Client”) and WAHED SECURITIES LTD, a company incorporated in Mauritius and having its registered address at c/o Aurisse International Ltd, Suite 1909, 19th Floor, Citadelle Mall, Sir Edgar Laurent Street, Port Louis, Mauritius(“Wahed”) in relation to the Services (as defined below).

WHEREAS:

  1. Wahed is duly licensed as an Investment Dealer (Broker) by the Financial Services Commis-sion of Mauritius (the “FSC”);

  2. The Client wishes to appoint Wahed as broker and investment dealer to provide the Services (as defined below) on the terms and conditions set out in this Agreement.

NOW, THEREFORE, in consideration of the foregoing and the covenants and agreements contained in this Agreement, the parties hereto agree as follows:

  1. DEFINITIONS AND INTERPRETATION

    1. 1.1. In this Agreement unless the context otherwise requires:-

      “Broker Fee” means the fee described or referred to in Clause 7.1;

      “Custodial Bank”means a ‘bank’ as defined by the Mauritius Financial Ser-vices Act, 2007;

      “Effective Date”means the date on which the Client opens an account with Wahed and transfer funds to that account;

      “Investments”means assets bought and sold or which may prospectively be bought and sold by or on behalf of the Client in accord-ance with the Investment Objective;

      “Investment Objective”means the investment objective of the Client as described in clause 3;

      “Services”means the services described in Clause 2.2 and shall also in-clude any further services agreed to in writing between the Client and Wahed.

    2. 1.2. In this Agreement, unless the context otherwise requires:-

      1. the singular includes the plural and vice versa;

      2. words importing one gender include the other gender and words importing persons include corporations and unincorporated bodies of persons and vice versa;

      3. references to Recitals, clause and Schedules are to recitals, clauses and schedules of this Agreement;

      4. references to agreements include all renewals, extensions and amendments there-of;

      5. the table of contents and headings in this Agreement are inserted for ease of refer-ence only and shall not affect the interpretation or construction thereof; and

      6. any reference to a statutory provision includes that provision as from time to time modified or re-enacted so far as such modification or re-enactment applies or is ca-pable of applying to any transaction entered into under or in connection with this Agreement.

    3. 1.3. The Recitals and Schedules to this Agreement shall form part of this Agreement and the term “this Agreement” shall include all modifications and supplementals hereto agreed to in writing by the parties from time to time and references to “this Agreement”, “herein” and “hereto” shall be construed accordingly.

  2. APPOINTMENT

    1. 2.1. The Client hereby appoints Wahed as broker and investment dealer and as its agent to open an account in the Client’s name (the “Account”) with Wahed to purchase or sell securities or investments held in the Account. Wahed hereby agrees to provide the Services to the Client on the terms on conditions set out in this Agreement.

    2. 2.2. Subject to the terms of this Agreement, with effect from the Effective Date Wahed shall provide to the Client all services (the “Services”) which may be provided by a broker-dealer duly licensed by the FSC including without limitation:

      1. act as an intermediary in the execution of securities transactions for the Client;

      2. create and designate one or more account or accounts to be established in the name of Client at a designated Custodial Bank for the purposes of executing securi-ties transactions;

      3. provide investment advice;

      4. manage portfolios of the Client;

      5. make, purchase, sell or otherwise dispose of any investments at such times and at such prices and on such terms as it sees fit, to exchange or convert all or any in-vestments for or into any investment, to arrange to remit monies from the Client for any purpose related to the management of the Client’s funds pursuant to this Agreement and otherwise to deal with the assets of the Client’s fund as Wahed in its absolute discretion considers advisable ;

      6. receive, accept and deliver securities or other assets, and implement any investment for and on behalf of the Client;

      7. receive payment and make payment for and on behalf of the Client in connection with the purchase or sale of any assets or investments;

      8. act as custodian, or appoint other persons to act as custodian, to hold the funds, se-curities and other assets for and on behalf of the Client and procure payment to or deposit with the custodian or such nominee or agents as the custodian may appoint all moneys, bills, notes and investments belonging to the Client after deducting there from all charges (if any) properly payable to Wahed in connection with the transaction giving rise to such receipt; and

      9. keep such accounts and such books and records as may be required by law or oth-erwise for the proper conduct of the affairs of Wahed under this Agreement.

    3. 2.3. Wahed shall provide and shall cause its subsidiaries and affiliates to provide the Services exercising the degree of care, priority and diligence as it exercises in performing the same or similar services for itself and its affiliates.

    4. 2.4

      1. 2.4.1 Wahed shall provide the Services to the Client on a non-exclusive basis. Wahed is free to render similar services to others and to retain for its own use and benefit all fees or monies payable thereby.

      2. 2.4.2 Nothing in this Agreement shall preclude the Client from obtaining, in whole or in part, Services from its own employees or from broker-dealers other than Wahed.

      3. 2.4.3 The Client acknowledges the high risk nature of Wahed’s investment strategies and investments. The Client understands that there may be loss or depreciation of the value of any investment due to the fluctuation of market values. The Client repre-sents that no party to this agreement has made any guarantee, either oral or writ-ten, that the Client’s investment objectives will be achieved.

  3. INVESTMENT OBJECTIVE

    1. 3.1 Wahed will obtain from Client, and Client agrees to provide, information to determine Cli-ent’s financial situation, investment objective and identity. At or around the time of execu-tion of this Agreement, Client will be requested to complete an online suitability profile. Un-less otherwise directed in writing, Wahed will recommend investment strategies and in-vestments based on profile information specified by Client (“Investment Profile”) on https://wahedinvest.com/?bucket=default, other website address as publicized by Wahed for the Services or our related mobile application (the “Site” or “App”) and consistent with Client’s financial circumstances and other information derived from analysis of the client suitability profile.

    2. 3.2 Wahed will abide by any reasonable limitations, special instructions, or requests of Client and will advise clients if it deems any such requests unreasonable.

    3. 3.3 Client may change any such limitations or instructions from time to time by notifying Wahed in Client’s Investment Profile. Client shall inform Wahed of updates or changes to financial status or circumstances (including restrictions on Client’s Accounts) so that Wahed can make any necessary changes to the management of or advice provided with respect to the assets of the Client under the management of Wahed.

    4. 3.4 Client agrees to maintain a valid e-mail address on file under the Client Profile and to period-ically update any personal information in the Client. Profile as may be required. If Client fails to maintain a valid e-mail address or accurate personal information, Wahed may terminate this Agreement at Wahed’s discretion.

    5. 3.5 Client recognizes that the value and usefulness of the investment advisory and brokerage services of Wahed will depend upon the accuracy and completeness of the information that Client provides and upon the active participation by Client in the relationship with Wahed. Client therefore agrees to provide complete and accurate information and documents that Wahed requires, in Wahed’s sole judgment, in order to provide the Services. Client’s cir-cumstances or objectives may change in the future and can only be communicated to Wahed via changing the Investment Profile, which sends an automated message to Wahed.

  4. CONFIRMATION OF TRADES AND ACCOUNT STATEMENTS.

    1. 4.1 Wahed shall, during the continuance of its appointment hereunder, keep or cause to be kept on behalf of the Client such books, records and statements as may be required to give a complete record of all transactions carried out by Wahed on behalf of the Client.

    2. 4.2 Wahed shall forward and deliver to Client a confirmation of transaction with respect to its participation in such transaction(s).

    3. 4.3 Wahed shall or shall instruct the Custodial Bank to send copies of Client’s confirmations and account statements to Client.

    4. 4.4 Client shall carefully review upon receipt all confirmations, statements, and reports that are sent by Wahed or the Custodial Bank to Client and shall notify Wahed and/or the Custodial Bank of any discrepancy or unauthorized activity. Wahed may consider all confirmations, statements, and reports to have been fully accepted by Client as correct and conclusive un-less otherwise notified within seven (7) calendar days of receipt. Client understands and acknowledges that due to the volatile nature of the financial markets, Client is solely respon-sible for any loss that results from Client’s failure to notify Wahed of any discrepancy or un-authorized activity within the seven (7) calendar day time period stated in this clause 4.4.

  5. DELEGATION

    1. 5.1 Wahed shall be at liberty in the performance of its duties and in the exercise of any of the powers, duties and discretions vested in it hereunder to act by its responsible officers for the time being appointed for that purpose and to employ and pay an agent to perform or concur in performing any of the services required to be performed by it hereunder and may act or rely upon the opinion or advice or any information obtained from any broker, lawyer, ac-countant, valuer, surveyor, auctioneer or other expert, whether reporting to Wahed or not, and Wahed shall not, in the absence of fraud, gross negligence or material default on its part, be responsible for any loss occasioned because of its so acting.

    2. 5.2 Wahed shall be entitled to delegate its functions, powers, discretions, privileges and duties hereunder to any other competent party, firm or corporation including any of its affiliates, and any such delegation may be on such terms and conditions as Wahed thinks fit.

    3. 5.3 Fees charged by any such third parties will be fully disclosed to Client on a separate disclo-sure document or agreement between Client and such third parties. Client will be responsi-ble for paying any expenses or fees of such third parties, and that such expenses and fees shall be separate from the fees payable to wahed pursuant to Clause 6.

  6. FEES

    1. 6.1 As consideration for the provision of the Services, Client agrees to pay a single fee (“Broker Fee”), of one percent (1%) per annum of the net value of Client’s Accounts. All fees will be fully disclosed to Client. The Broker Fee will be used in part to pay the following expenses: brokerage commissions, transaction charges, handling fees, and mutual fund short-term re-demption fees. The remaining portion of the Broker Fee after payment of said expenses is payable to Wahed for management of the Accounts.

    2. 6.2 Broker Fees shall be calculated and due on each day the Custodial Bank is open for business and remitted to Wahed monthly in arrears. Broker Fees shall be calculated by dividing by 252 (or 253 during a leap year) the product of the Current Portfolio Value (as defined below) and the Annual Rate (on a blended basis determined on Wahed’s Standard Investment Management Fee Schedule) that corresponds to the Asset Billing Range (as defined below) for the Account as shown on the chart below. The Asset Billing Range shall be the lesser of the Current Portfolio Value and the Net Deposit Value (as defined below) as of the date of calculation. “Current Portfolio Value” means the value of the Account as reflected in Wahed’s record as of the close of trading of the date calculation. “Net Deposit Value” means the value of all cash and securities deposited, transferred, or journaled into the Account, less the value of all cash and securities withdrawn, transferred or journaled out of the Account. Wahed will promptly notify Client in writing of any increase or decrease in the Broker Fee. An increase in the Broker Fee will be effective for the Account starting in the next month that begins at least 30 days after Wahed sends or posts such notice unless the Client notifies Wahed in writing that the Account is to be closed within such 30 day period, in which case such change in Broker Fee shall come into effect immediately. A reduction in the Broker Fee will be effective for the Account starting in the next month following its reduction. If Client closes the Account, withdraws the entire balance of the Account, or otherwise ter-minates this Agreement on any date other than the last business day of the month in each case in accordance with clause 6 herein, Client shall pay any outstanding aggregate daily fees for the period from the day immediately following the last day of the last calendar month for which Client has paid, through the effective date of such withdrawal or termina-tion, as of such effective date.

    3. 6.3 If, for any reason, Wahed shall close and liquidate all the positions held in the Account, Cli-ent may receive the proceeds of the liquidated portion of the Account, and this Agreement shall terminate, subject to Section 9 herein.

    4. 6.4 If for any reason there is insufficient cash available in the Account to cover Wahed’s fees at the time they are charged and deducted from the Account, Wahed, in its sole discretion, may cause securities in the Account to be liquidated to cover its fees.

    5. 6.5 Wahed reserves the right, in its sole discretion, to reduce or waive the Broker Fee for certain Client Accounts for any period of time determined by Wahed. In addition, Client agrees that Wahed may waive its fees for the Accounts of Clients other than Client, without notice to Client and without waiving its fees for Client. Wahed’s compensation is not based on shares of capital gain or capital appreciation of any portion of Client’s assets or funds. Client acknowledges that Client will be responsible for paying any expenses or fees of the types enumerated above, and that said expenses and fees are separate from the Broker Fees charged under this Agreement.

    6. 6.6 Client hereby authorizes Wahed to deduct any fees or expenses payable to Wahed hereun-der from any monies collected or received by it on behalf of the Client. Wahed may recover from the Clients all fees and expenses due to it under this Agreement, and the Client hereby authorize any Custodial Bank to pay all such amounts directly to Wahed.

  7. INDEMNITY

    1. 7.1 Client hereby undertakes to hold harmless and fully indemnify Wahed against all liabilities, actions, proceedings, claims, costs, demands and expenses whatsoever which may be brought against suffered or incurred by Wahed by reason of its performance of its duties under the terms of this Agreement or otherwise by reason of their activities on behalf of the Client including all legal fees (on a full indemnity basis) and any other expenses properly in-curred and including any such liabilities, actions, proceedings, claims, costs, demands and expenses as shall arise as a result of loss, delay, miss-delivery, interruptions of service or er-ror in transmission of any cable, telex, telefax, telegraphic or other communication (where Wahed has used all reasonable endeavours to rectify such matters) except such as shall arise from the material default of any of Wahed’s duties hereunder or fraud, acts of willful de-fault, gross negligence, or material breach of duty on its part. Client acknowledges that there may be delays for interruptions in the use of Wahed system, including, for example, those caused intentionally by Wahed for purposes of servicing Wahed system. In no event shall Wahed’s liability, regardless of the form of action and damages suffered by the Client, ex-ceed the highest total monthly commissions paid by the Client to Wahed over the 6 months prior to any incident. Under no circumstances shall Wahed be liable for any punitive, indi-rect, incidental, special or consequential loss or damages, including loss of business or goodwill.

    2. 7.2 Without prejudice to the generality of the preceding provisions of this Clause, Wahed will not be responsible for any loss suffered by the Client as a result of any default by any person with whom Wahed arranges or enters into any transaction on behalf of the Client pursuant to this Agreement, unless such default is the result of Wahed’s fraud, willful default or gross negligence.

    3. 7.3 For the avoidance of doubt it is hereby agreed and declared that reference to Wahed in this Clause 7 shall be deemed to include reference to the directors, officers, employees and permitted agents and delegates of Wahed (including any investment adviser) and other affil-iates and their personnel.

  8. TERM AND TERMINATION

    1. 8.1 This Agreement shall become effective on the Effective Date and shall remain in force until notice of termination is given by the Client or Wahed pursuant to this clause 8.

    2. 8.2 Client or Wahed may terminate the appointment of Wahed under this Agreement at any time by either party giving not less than seven (7) days written notice to the other party.

    3. 8.3 Client or Wahed may without such notice as is referred to in Clause 8.2, terminate the ap-pointment of Wahed forthwith at any time by giving notice to the other party in any of the following events:

      1. if the other party goes into liquidation (except voluntary and solvent liquidation for the purposes of reconstruction or amalgamation upon terms previously approved in writing by both parties) or if a receiver or administrative receiver is appointed of the whole or any substantial part of the assets or undertaking of the other party or an administrator is appointed of that party of if that other party convenes a meeting of creditors or makes or proposes to make any arrangements or compositions with or assignments for the benefit of its creditors or cease or threatens to cease to carry on its business;

      2. if the other party shall commit any material breach of its obligations under this Agreement and (if such breach shall be capable of remedy) shall fail to remedy such breach within fifteen (15) days of receipt of notice served by the aggrieved party re-quiring it so to do; or

      3. if it becomes illegal for Wahed to manage the Client’s funds.

  9. CONFIDENTIALITY

    1. 9.1 None of the parties shall either before or after the termination of this Agreement disclose to any person not authorized by the relevant party to receive the same any information desig-nated as confidential by any party, relating to such party or to the affairs of such party of which the party disclosing the same shall have become possessed during the period of this Agreement, and each party shall use all reasonable endeavours to prevent any such disclo-sure as aforesaid but such obligations of confidentiality shall not apply where:-

      1. such confidential information is used or disclosed with the prior written consent of the other party;

      2. such confidential information has become public knowledge other than as a result of unauthorized disclosure; or

      3. such confidential information is required to be disclosed to the auditors of the rele-vant party or to any governmental or regulatory authority or otherwise require to be disclosed by any law or court to which any party may be subject.

  10. PERSONAL DATA PROTECTION

    1. 10.1 The Client hereby authorizes Wahed to collect, use, disclosure, transfer and retain his per-sonal data for such purposes as set out in Wahed’s personal data protection policy or as permitted by applicable laws or regulations and further authorizes Wahed to disclose such personal data to such persons and for such purpose as may be necessary or desirable for Wahed to perform the Services. Client also authorizes Wahed to disclose any personal or fi-nancial information to service providers including without limitation custodians or other broker-dealers and their affiliates, third party managers and their affiliates, account display, performance, or aggregation service providers, and parties maintaining or servicing custom-er relationship management software or websites.

    2. 10.2 Except as provided herein or in Wahed’s Privacy Policy, as amended from time to time (which is hereby incorporated by reference), or otherwise agreed to in writing by Client or as required by law, Wahed will not share information regarding Client’s personal and financial affairs (“Client Data”) with any third party, and Wahed will use commercially reasonable measures designed to protect Client Data from unauthorized access or disclosure.

    3. 10.3 Client acknowledges that it has received and reviewed Wahed’s Privacy Policy and consents to the collection, use and disclosure of Client Data as set forth herein and in the Privacy Poli-cy.

  11. TAX RISKS.

    1. 11.1 Nothing in this Agreement or any other document received from Wahed shall be construed as providing any legal, accounting, estate, actuary, or tax advice. The Client shall rely upon its own representatives, including its own legal counsel, personal tax advisor and account-ant, as to legal and tax consequences of investing with Wahed.

    2. 11.2 Wahed assumes no responsibility to Client for the tax consequences of any transaction.

  12. NOTICES

    1. 12.1 Any notice or other communication required or authorized by this Agreement to be given shall be given in writing and shall be served by hand at or by being sent by prepaid regis- tered post or by electronic delivery or by facsimile transmission or comparable means of communication to the address or the facsimile transmission number of the relevant party as set out below or provided to Wahed on its system:

      1. CLIENT

      2. Address:

      3. Facsimile:

      4. E-mail:

      5. Attention:

      6. WAHED

      7. Address Suite 1909, 19th Floor, Citadelle Mall Sir Edgar Laurent Street Port-Louis, Mauritius

      8. Tel (230) 2600177

      9. E-mail globalsupport@wahedinvest.com

      10. Attention Compliance Officer/Director

    2. 12.2 Any notices or information given by post in the manner prescribed in Clause 12.1 which is not returned to the sender as undelivered shall be deemed to have been given on the sev-enth day after the envelope containing it was so posted and proof that the envelope con-taining any such notice or information was properly addressed, prepaid, registered and posted and that it has not been so returned to the sender shall be sufficient evidence that the notice or information has been duly given.

    3. 12.3 Any notice or information sent by facsimile transmission, electronic mail or comparable means of communication shall be deemed to have been duly sent on the date of transmis-sion upon receipt of the transmission report showing due transmission.

  13. CLIENT REPRESENTATIONS AND WARRANTIES

    1. 13.1 Client represents and warrants to Wahed and agrees with Wahed as follows:

      1. Client has the requisite legal capacity, authority and power to execute, deliver and perform his or her obligations under this Agreement. This Agreement has been duly authorized, executed and delivered by Client and is the legal, valid and binding agreement of Client, enforceable against Client in accordance with its terms. Cli- ent’s execution of this Agreement and the performance of his or her obligations hereunder do not conflict with or violate any obligations by which Client is bound, whether arising by contract, operation of law or otherwise. If Client is an entity, the trustee, agent, representative or nominee (the “Client Representative”) executing this Agreement on behalf of Client has the requisite legal capacity, authority and power to execute, deliver and perform such execution and the obligations under this Agreement as applicable. Specifically, if Client is a corporation or partnership, the individual signing this Agreement has been authorized to execute this Agreement by appropriate corporate or partnership action, and if this Agreement is entered into by a trustee or fiduciary, the trustee or fiduciary has authority to enter into this Agreement and that the services described herein are authorized under the applica-ble plan, trust or law;

      2. For Entity Clients: If Client Representative is entering into this Agreement, Client and Client Representative understand and agree that the representations, warranties and agreements made herein are made by Client both i) with respect to Client; and ii) with respect to Client Representative;

      3. Client is the owner or co-owner of all cash and securities in the Account opened with Wahed, and there are no restrictions on the pledge, hypothecation, transfer, sale or public distribution of such cash or securities other than as advised in the disclosure materials associated with such securities;

      4. Client will provide Wahed with complete and accurate information about Client’s identity, background, net worth, investing timeframe, other risk considerations, any securities from which Client may be or become legally restricted from buying or sell-ing, as requested, and other investment accounts, as requested, in the Investment Profile and will promptly update that information as Client’s circumstances change;

      5. Client agrees to use Wahed solely for Client’s personal, non-commercial use, and not in connection with any competitive analysis (as determined by Wahed);

      6. Client represents that it is now, and will remain, in material compliance with all ap-plicable laws and regulations in connection with the activities contemplated by this Agreement. For entity clients: Client represent that they have in place anti-money laundering compliance programs based on and complying with the laws of their re-spective jurisdictions;

      7. entity clients: The Client’s operations are conducted in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the US Bank Secrecy Act , as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terror-ism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering stat-utes of jurisdictions where the Client conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, admin-istered or enforced by any governmental agency (collectively, the “Anti-Money Laundering Laws”), and no action, suit or proceeding by or before any court or gov-ernmental agency, authority or body or any arbitrator involving theClient or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the company, threatened;

      8. For entity clients: Neither the Client, nor any director or executive officer thereof, nor, to theClient's knowledge, any employee, agent, affiliate or representative of the Client or any of its subsidiaries, is an individual or entity (“Person”) that is, or is owned or controlled by a Person that is: (i) the subject of any sanctions administered or enforced by the Office of Foreign Assets Control (“OFAC”) (collectively, “Sanc-tions”), nor (ii) located, organized or resident in a country or territory that is the sub-ject of Sanctions (including, without limitation, Burma/Myanmar, Cuba, Iran, Libya, North Korea, Sudan and Syria); and

      9. The Client will not, directly or indirectly, knowingly use the proceeds of any transac-tion, or lend, contribute or otherwise make available such proceeds to any subsidi-ary, joint venture partner or other Person: (i) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or (ii) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise);

    2. 13.2 Client will deliver to Wahed evidence of Client’s and Client Representative’s authority on Wahed’s request and will promptly notify Wahed of any change in such authority, including but not limited to an amendment to Client’s organizational, delegation or formation docu-ments that changes the information Client provides to Wahed on opening the Account. Cli-ents shall inform Wahed of any event that might affect this authority or the propriety of this Agreement. Wahed shall not be responsible for any claims or damages resulting from such reliance or from any change in the status of the relationship between Clients who have en-tered into this Agreement.

    3. 13.3 Client covenants that it will abide by all present and future applicable Anti-Money Launder-ing Laws and anti-terrorist financing laws, regulations and related securities commissions or regulators’ rules and governmental guidance. Client further covenants that it will, upon re-quest, provide to Wahed any documents and information that Wahed may require to com-ply with the requirements of the Anti-Money Laundering Law and any similar laws or regula-tions in effect at that time.

  14. MISCELLANEOUS

    1. 14.1 Nothing contained in this Agreement is intended to, or shall be deemed to establish any partnership between the Client and Wahed or any of its Affiliates or other clients.

    2. 14.2 Client acknowledges that Wahed may revise this Agreement by sending notice of the revised agreement by e-mail or upon Client log-in to Wahed’s system. Client’s use of Wahed’s sys-tem after such notice constitutes acceptance of the revised agreement. Each time the Client (or its agent) places an order with Wahed or utilizes Wahed system, software or technolo-gies, the Client affirms its acceptance of, and agreement to, the terms outlined in this Agreement.

    3. 14.3 No failure or delay by a party to exercise any right or remedy under this Agreement or by law will operate as a waiver of that or any other right or remedy, nor shall it prevent or re-strict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy. For the avoidance of doubt, the rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law.

    4. 14.4 The Client agrees to the provision of this Agreement in English and represents that the Client understands its terms and conditions. This Agreement contains the entire agreement be-tween the parties, who have made no other representations or warranties. Any illegality, in-validity or unenforceability of any provision of this Agreement under the law of any jurisdic-tion shall not affect its legality, validity or enforceability under the law of any other jurisdic-tion nor the legality, validity or enforceability or any other provision of this Agreement.

    5. 14.5 The Client may not assign, convey or otherwise transfer any rights, obligations or interests under this Agreement without the prior written consent of Wahed. Wahed may assign its rights and obligations under this Agreement upon notice to the client. When duly assigned in accordance with the foregoing, this Agreement shall be binding upon and shall inure to the benefit of the assignee.

    6. 14.6 This Agreement may be executed in more than one counterpart and shall come into force/take effect as delivery once each party has executed such a counterpart in identical form and exchanged the same in PDF, JPEG or other agreed format or a facsimile copy of the same with the other party.

    7. 14.7 This Agreement shall be binding upon, and inure solely to the benefit of, the Client, Wahed and, to the extent the Client is an entity, the Client Representative, the officers and directors of the Client and each person who controls the Client and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement.

    8. 14.8 Time shall be of the essence of this Agreement. As used herein, the term “business day” shall mean any day when the FSC’s office is open for business.

    9. 14.9 This Agreement supersedes and extinguishes all prior agreements and understandings (whether written or oral) between the Client and Wahed, with respect to the subject matter hereof.

    10. 14.10 The parties recognize that interest is repugnant to Shariah and accordingly to the extent that Shariah principles apply to them and any legal system would (but for the provisions of this clause) create (whether by contract, by statute or by any other means) any right to receive interest, the parties irrevocably, unconditionally and expressly waive any entitlement to re-cover interest from each other.

    11. 14.11 The Client consents to recording of all telephone conversations. The client acknowledges Wahed Privacy Policy and consents to the collection and use of the client Personal Infor-mation as described therein.

  15. ELECTRONIC CONSENT

    1. 15.1 Client hereby agrees and consents to have Wahed deliver or make available electronically all current and future account statements, notices (including privacy notices), letters to Client, regulatory communications and other information, documents, data and records related to the Account (collectively, “Account Communications”). Client acknowledges and agrees that electronic communication from Wahed will include, among other things, email delivery, and/or the electronic communication of Account Communications pertaining to Client via Wahed’s website and Client acknowledges and agrees that such email delivery and electron-ic provision shall be deemed delivery. Client acknowledges and agrees that is Client’s affirm-ative obligation to notify Wahed in writing of any changes to Client’s email address. With re-spect to e-mail delivery of Account Communication, Client understands that e-mail messages may sometimes fail to transmit properly, including being delivered to SPAM folders. Client further understand that it is responsible for ensuring that any emails from Wahed are not marked as SPAM and that Wahed is responsible only to the extent that it sends e-mail mes-sages to Client’s e-mail address of record. Regardless of whether or not Client receives an e-mail notification, Client agrees to check Wahed’s website on a regular basis for current in-formation and to avoid missing any information that is time-sensitive.

    2. 15.2 Wahed shall not be liable for any interception by any third party of Account Communica-tions. Client acknowledges and agrees that, although Wahed will not charge additional amounts for electronic delivery, Client may incur charges from its internet service provider or other third parties in connection with the delivery and receipt of Account Communica-tions delivered electronically. In addition, Client understands that there are risks associated with electronic delivery of Account Communications, including the risk of system outages or interruptions, which risks may, among other things, inhibit or delay Client’s receipt of Ac-count Communications.

    3. 15.3 Through Wahed’s website, Client will have access to an archive of all documents received via electronic delivery for a period of seven (7) years.

    4. 15.4 Subject to the terms of this Agreement, Client may revoke or restrict consent to electronic delivery of Account Communication at any time by notifying Wahed in writing of Client’s in-tention to do so. Client understands that it has the right to request paper delivery of any Ac-count Communication that the law requires Wahed to provide to Client in paper form. Cli-ent understands that if it revokes or restricts consent to electronic delivery of Account Communications or requests paper delivery of the same, Wahed, in its sole discretion, may: (i) charge Client a reasonable service fee for the delivery of any Account Communications that would otherwise be delivered to Client electronically, and/or (ii) restrict or close the Ac-count. Client understands that neither the revocation or restriction of consent, request for paper delivery, nor Wahed’s delivery of paper copies of Account Communications will affect the legal effectiveness or validity of any electronic communication provided while Client’s consent is in effect.

    5. 15.5 Client’s consent to receive electronic delivery of Account Communications will be effective immediately and will remain in effect unless and until either Client or Wahed revokes con-sent per Section 16.4 above. Client understands that it may take up to three (3) business days to process a revocation of consent to electronic delivery. Client acknowledges that it may receive electronic notifications until such consent is processed.

    6. 15.6 Client understands and confirms that in order to access, view, and retain Account Communi-cations from Wahed, Client must have: (i) access to an up-to-date internet browser in order to access the Account, or if accessing through a mobile application, one of the following mo-bile operating systems: Apple iOS 6.0 or later or Android OS 2.3 or later; (ii) local, electronic storage capacity to retain Account Communications and/or a printer to print them; (iii) a val-id e-mail account and software to access it; (iv) an up-to-date device or devices including but not limited to a computer, tablet, or smartphone suitable for connecting to the internet and downloading or accessing websites; and (v) software that enables Client to view files in the Portable Document Format (“PDF”).

  16. ELECTRONIC SIGNATURE

    1. 16.1 Client consents and agrees that his or her use of a key pad, mouse, or other device to select an item, button, icon, or similar act/action while accessing or making any transactions re-garding any agreement, acknowledgment, consent, terms, disclosures, or conditions consti-tutes Client’s electronic signature, acceptance, and agreement and that such electronic sig-nature will meet the requirements of an original signature as if actually signed by Client in writing. Further, Client agrees that no certification authority or other third-party verification is necessary to the enforceability of his or her signature or any resulting contract between Client and Wahed. At the request of Wahed, any electronically signed document must be promptly re-executed in original form by Client who executed the electronically signed doc-ument. No party hereto may raise the use of an electronic signature as a defense to the en-forcement of this Agreement or any amendment or other document executed in compliance with this section.

  17. GOVERNING LAW

    1. 17.1 This Agreement shall be construed and governed in accordance with the laws of Mauritius.

    2. 17.2 In all judicial actions, arbitrations or dispute resolution methods, the parties waive any right to punitive or consequential damages.

  18. ARBITRATION

    1. 18.1 All parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is files.

    2. 18.2 Client agrees that any dispute, controversy or claim or grievance between Wahed, any Wahed affiliate or any of their shareholders, officers, directors, associates or agents, on one hand, and the Client or, if applicable, the client’s shareholders, officers, directors, associates, or agents on the other hand, arising out of, or relating to, this Agreement or any account(s) established hereunder in which securities may be traded; any transactions therein; any transaction between Wahed and the Client; any provision of this Agreement or any other agreement between Wahed and the Client; or any breach, termination or invalidity of such transactions or agreements shall be settled by international arbitration under the Interna-tional Arbitration Act 2008 of Mauritius (the “IAA”). The award of the arbitrator shall be final and judgment upon the awards rendered may be entered in any court having jurisdiction.

    3. 18.3 The provisions of the First Schedule to the IAA shall apply to the arbitration.

    4. 18.4 The arbitration shall be conducted pursuant to the LCIA-MIAC Arbitration Rules.

    5. 18.5 The number of arbitrator shall be one.

    6. 18.6 The juridical seat of arbitration shall be Mauritius.

    7. 18.7 The language to be used in the arbitral proceedings shall be the English language.

    8. 18.8 Any dispute, controversy or claim shall be kept confidential and any proceedings before the Supreme Court of Mauritius in relation thereto shall, with the agreement of all parties, be heard in private.

    9. By signing this Agreement, the client acknowledges that he has received, read and understood the terms thereof

Terms and Conditions

This website, whose home page is located at https://www.wahedinvest.com (the "Website"), is an online information service provided by us, subject to your compliance with these terms and conditions ("Terms and Conditions"). These Terms and Conditions apply to the entire content of the Website and to any correspondence by email between you and us. You should read these Terms and Conditions carefully before using the Website. By using the Website you indicate that you accept these Terms and Conditions. If you do not wish to be bound by these Terms and Conditions, do not access or use the Website.

1. Introduction

These Terms and Conditions are issued by Wahed Securities Ltd. whose registered office is at Suite 1909, 19th Floor, Citadelle Mall, Sir Edgar Laurent Street, Port-Louis, Mauritius. When we use "we", "us" or "our" in these Terms and Conditions we are referring to Wahed Securities Ltd. and any of our affiliates. When we use "you" or "your", we are referring to you, the user accessing this Website.

You will be bound by those Terms and Conditions where you are an individual accessing a page of the Website, whether via the homepage or not. Where you are accessing the Website in the course of employment you act as your employer's agent; your acceptance of these Terms and Conditions is deemed acceptance by your employer of these Terms and Conditions and any reference to "you" shall be deemed to include your employer.

We may modify these Terms and Conditions from time to time, and such modifications shall be effective immediately upon posting on the Website. You should check these Terms and Conditions periodically so that you are aware of such modifications, as your continued access or use of the Website will demonstrate your acceptance of the Terms and Conditions as modified. If you do not accept any modifications then do not access or use the Website.

You will be able to access material on most areas of the Website without going through a registration process.

2. Statutory Rights

Nothing in these Terms and Conditions will affect your statutory rights.

3. Copyright and Intellectual Property Rights

The Website is owned and operated by Wahed Securities Ltd. All of the content featured or displayed on the Website including, but not limited to, text, graphics, photographs, images, moving images, sound, illustrations and software ("Content") is owned by Wahed Securities Ltd. All elements of Wahed's website including, but not limited to, the general design and the Content, are protected by copyright, moral rights, trademark and other laws relating to intellectual property rights. This Website, its Content and all related rights shall remain the exclusive property of Wahed Securities Ltd. or its licensors unless otherwise expressly agreed.

All material contained in this Website, provided by Wahed Securities Ltd. is only intended for the lawful use by its customers, employees and members of the general public. The material may not be copied, republished, incorporated into another website or reproduced (whether by linking, framing or any other method), transmitted, distributed, uploaded, posted, used to create a derivative work or exploited in any other way without the written consent of Wahed Securities Ltd.

3. Copyright and Intellectual Property Rights

This website is owned and operated by Wahed Invest LLC. All of the content featured or displayed on this website including, but not limited to, text, graphics, photographs, images, moving images, sound, illustrations and software ("Content") is owned by Wahed Invest LLC. All elements of Wahed website including, but not limited to, the general design and the Content, are protected by copyright, moral rights, trademark and other laws relating to intellectual property rights. This website, its Content and all related rights shall remain the exclusive property of Wahed Invest LLC. or its licensors unless otherwise expressly agreed.

All material contained in this website, provided by Wahed Invest LLC. is only intended for the lawful use by its customers, employees and members of the general public. The material may not be copied, republished, incorporated into another website or reproduced (whether by linking, framing or any other method), transmitted, distributed, uploaded, posted, used to create a derivative work or exploited in any other way without the written consent of Wahed Invest LLC.

4. Access to the Website

We endeavour to make the Website available uninterrupted and fault free. However, we will not be liable if for any reason the Website is unavailable at any time or for any period. Access to the Website may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for any other reason.

5. Your obligations

You must not violate any applicable national or international law in accessing or using the Website.

You must not manipulate or otherwise display the Website by using framing or similar navigational technology. You may not link to the Website without our prior written consent.

You are responsible for obtaining and maintaining all telephone, computer hardware, software and other equipment needed for access to and use of the Website and for meeting all costs associated with that equipment.

You are prohibited from uploading, posting or transmitting to or from the Website any material:

a) that is threatening, defamatory, obscene, indecent, seditious, offensive, pornographic, abusive, liable to incite racial hatred, discriminatory, menacing, scandalous, inflammatory, blasphemous, in breach of confidence, in breach of privacy or which may cause annoyance or inconvenience;
b) for which you have not obtained all necessary licences and/or approvals;
c) which constitutes or encourages conduct that would be considered a criminal offence, give rise to civil liability, or otherwise be contrary to the law;
d) that infringes our or any other third parties patent, trademark, trade secret, copyright or other proprietary rights, in the UK or any other country in the world; or
e) which is technically harmful (including, without limitation, computer viruses, logic bombs, Trojan horses, worms, corrupted data or other malicious software or harmful data or code). You may not misuse the Website (including, without limitation, by hacking).

Please note that we shall aim to co-operate fully with any law enforcement authorities or court orders requesting or directing us to disclose the identity or locate anyone posting any material in breach of this section.

You shall indemnify us, our affiliates, suppliers and employees from and against all losses, expenses, damages and costs (including legal fees) arising as a result of your breach of these Terms and Conditions, your negligence or otherwise as a result of your use of the Website.

Whether we collect certain types of information and how we process it depends on how you use and access the Website. Some information is collected automatically through use of cookies and similar data collection tools. We collect information about you in the following ways:

6. Disclaimers

You assume responsibility and risk for your use of the Website and the Internet generally. It is solely your responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise, advertising and other information provided on the Website, via a link or on the Internet generally.

You acknowledge that nothing on the Website has been tailored for your particular requirements. We recommend that you always consult an appropriate professional advisor before relying on personal, legal or financial advice provided on the Website. Nothing on the Website constitutes the offering of investment advice.

While we have taken all reasonable steps to ensure the accuracy and completeness of the content of the Website, we exclude any warranties, undertakings or representations (either express or implied) to the full extent permitted under applicable law, that the Website or (including without limitation) all or any part of the content or materials, accuracy, availability or completeness of the content of the Website or any part of the content or materials, are appropriate or available for use either in the United Kingdom or in other jurisdictions. If you use this Website from other jurisdictions, you are responsible for compliance with applicable local laws.

We may make changes to the material on the Website, or to the products and services described in it, at any time without notice. The material on the Website may be out of date, and we make no commitment to update such material.

Any opinions, advice, statements, offers, advertising, products or other information expressed or made available by third parties on the Website, or via a link, are those of the third party concerned. We neither endorse nor are responsible for the accuracy or reliability of any third party material.

Some of the information on the Website may contain projections or other forward-looking statements regarding future events or our future financial performance. You acknowledge that these statements are only predictions and that the actual events or results may differ materially.

We do not guarantee or warrant that files available for downloading through the Website will be free of infection or viruses, worms, Trojan horses or other code that manifest contaminating or destructive properties. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for accuracy of data input and output, and for maintaining a means external to the Website for the reconstruction of any lost data.

We accept full liability to you for: a) death or personal injury caused by our negligence; or b) any fraud we commit; or c) any other liability which cannot be excluded or limited under applicable law.

Nothing in these Terms and Conditions will exclude or limit that liability.

Other than any liability to you under these Terms and Conditions, we accept no liability however caused (to the maximum extent permitted by applicable law) arising out of the use of or access to thw Website (which includes without limitation) any errors or omissions contained in the Website or if the Website is unavailable and we shall not be liable, direct or indirect, for: a) any business loss including loss of revenue, profits or anticipated savings (whether those losses are the direct or indirect result of our default); b) loss of goodwill or reputation; or c) economic losses (including without limitation loss of revenues, data, profits, contracts, use, opportunity, business or anticipated savings); d) any loss which was not reasonably foreseeable to us when you accessed or used the Website (even if it results from our failure to comply with these Terms and Conditions or our negligence); e) any other loss or damage whatsoever which you suffer (even if it results from our failure to comply with these Terms and Conditions or our negligence and even if it was foreseeable to you and us when you accessed or used the Website); arising in connection with your use or inability to use the Website; or any information, or transactions provided on the Website, via a link, or downloaded from the Website or any delay in the provision of such information or service.

7. Links

You may use the Website to link to third party websites. If you use any link, you leave the Website. Your use of any third party website will be subject to that third party's terms and conditions. We do not monitor the content of third party web sites and any links provided are for your convenience only.

8. Information you provide

We respect and are committed to protecting your privacy. Our Privacy Policy informs you how your personal information is processed and used. We will use our reasonable endeavours to take steps to use your personal information only in ways that are compatible with the Privacy Policy.

Other than your personal information, which is covered by the Privacy Policy, any material you transmit or post to the Website shall be considered non-confidential and non-proprietary. We shall have no obligations with respect to such material. We and our designers shall be free to copy, disclose, distribute, incorporate and otherwise use such material and all data, images, sounds, text and other things for any and all commercial or non-commercial purposes.

9. Governing law

These Terms and Conditions shall be governed by, and construed in accordance with, the laws of Mauritius. Any court proceedings must be brought in the Mauritius courts or pursuant to the terms of your client agreement.

10. Assignment

These Terms and Conditions are personal to you. You shall not assign or transfer to anyone any of your rights or obligations under these Terms and Conditions without our prior written consent.

Nothing in these Terms and Conditions shall be deemed to grant any rights or benefits to any person other than you or us.

11. Waiver

Any waiver by either you or us of any right under these Terms and Conditions will be confined to the circumstance in which it is given. It shall not affect the subsequent enforcement of the same right or the enforcement of any other right.

12. Severability

If any part of these Terms and Conditions is for any reason found by a court or any other authority of competent jurisdiction to be void or otherwise unenforceable, that part shall be deemed omitted from these Terms and Conditions. The remainder of these Terms and Conditions shall remain in full force and effect to the maximum extent permitted by law.

13. Entire agreement

These Terms and Conditions contain all our commitments and constitute the entire agreement between you and us in relation to your use of the Website. No other statement we make, including statements in any brochure or promotional literature published by us, may be incorporated into this agreement or have any legal effect.

14. Registration Information

In order to avail our services, you will be required to create an account and select a user name and password. You may be asked to provide some personal information as well. You agree at all times that all the information you provided to us is accurate and complete, and you will obliged to regularly update this information as and when required. You agree to not impersonate any other individual or entity, misrepresent affiliation with any person/entity, or hide any required information from Wahed Securities Ltd. for any purpose. We agree to protect the information you provide to us, in accordance with our Privacy Policy. Failure to do so will constitute a breach of our terms and may lead to the termination of your account.

For security reasons, we ask you to not share any of your registration details (User name, Password, screen name, etc.) with any individual. You agree to notify us immediately of any unauthorized use of your account. If you still share such information with anyone, we may be forced to assume that you have authorized all his or her activities.

15. Service Communications and alerts

When you create an account with Wahed Securities Ltd., you automatically subscribe for various types of alerts. You can customize or deactivate such alerts by changing your account settings.

16. Termination/Access restriction

You and/or we may terminate these Terms and Conditions at any time, without prior notice, for any reason. All provisions of these Terms and Conditions which grant continuing rights or impose continuing obligations shall survive termination of these Terms and Conditions.We may, in our sole discretion, terminate your access to the Website, at any time, without notice.

17. Internet Communications

In order to maintain the security of its systems, protect its staff and detect fraud and other crimes, Wahed Securities Ltd. reserves the right to monitor all internet communications, including web and email traffic, into and out of its domain. Monitoring includes (without limitation) checks for viruses and other malignant code, criminal activity, and use or content that is unauthorised or unlawful or material that may cause offence in any way.

18. Telephone calls

Calls may be recorded for training and security purposes.We welcome any queries, comments or requests you may have regarding these Terms and Conditions. Please do not hesitate to contact us at Wahed Securities Ltd., Suite 1909, 19th Floor, Citadelle Mall, Sir Edgar Laurent Street, Port-Louis, Mauritius or globalsupport@wahedinvest.com

Version: July 7, 2018

Privacy Policy

INTRODUCTION

1. Privacy Policy

This privacy policy applies to Wahed Securities Ltd. ("Wahed") website at https://www.wahedinvest.com (the "Website"). This policy covers the collection, processing and other use and disclosure of personal data under the Data Protection Act 2017 ("DPA") and the General Data Protection Regulation ("GDPR"). For the purpose of the DPA and GDPR we are the data controller and any enquiry regarding the collection or processing of your data should be addressed to The Director at our address Wahed Securities Ltd., Suite 1909, 19th Floor, Citadelle Mall, Sir Edgar Laurent Street, Port-Louis, Mauritius. For the purpose of this privacy policy, the terms "we", "us" and "our" refer to Wahed. "You" refers to you as the user of the Website.

This privacy policy has been developed as an extension of our commitment to combine the highest-quality services with the highest level of integrity in dealing with all users of the Website. It is designed to assist you in understanding how we collect, use and safeguard personal information you provide to us and to assist you to make informed decisions. We will treat personal data that you provide through the Website according to this privacy policy, the DPA and the GDPR. This statement will be continuously assessed and updated against new technologies, business practices and our customers' needs.

PLEASE REVIEW THIS PRIVACY POLICY CAREFULLY. By visiting and/or submitting information to or through this Website, you agree to be bound by the terms and consent to the collection, use, disclosure, retention and processing of your information as described in this privacy policy, the DPA and the GDPR.

2. Exclusion

You might find links to third party websites on our website. These websites should have their own privacy policies, which you should check. We do not accept any responsibility or liability for their policies whatsoever as we have no control over them.

3. Amendments to the Privacy Policy

This Privacy Policy will come into effect on July 5, 2018 (the "Effective Date"). Although most changes are likely to be minor, we may change our privacy policy from time to time, to reflect changes to the Website, customer feedback and applicable law and in our sole discretion. If we decide to change our privacy policy, we will post those changes on this page so that you are always aware of what information we collect, how we use it, and under what circumstances we disclose it. We encourage you to frequently check this page for any changes to the privacy policy. We will not make retroactive changes that reduce your privacy rights unless we are legally required to do so. Your continued use of the Website after any change in this privacy policy will constitute your acceptance of the amended privacy policy.

We will also receive non-public personal information from some or all of the entities listed above. Disclosure of non-public personal information to such parties is unrestricted and facilitated by your agreement and consent.

INFORMATION WE COLLECT

4. Types of Information

We collect various kinds of information that you provide to us as well as information we obtain from your use of the Website. Some of the types of information that we collect include:

Personal Information

Information associated with or used to identify or contact a specific person. Personal Information includes: (1) contact data (such as name, address, postal address, e-mail address, telephone number and employer); (2) financial information (such as credit card number); (3) demographic data (such as gender, date of birth and zip code); and (4) certain Usage Data (defined below), such as IP address.

Certain personal information, such as information about personal health or racial or ethnic origins, is characterized as sensitive ("Sensitive Personal Information") and subject to stricter regulation than other personal information. Before providing it to use, we urge you to carefully consider whether to disclose your Sensitive Personal Information to us. If you do provide Sensitive Personal Information to us, you consent to its use and disclosure for the purposes and in the manner described in this privacy policy.

Usage Data

Information about an individual's online activity that, by itself, does not identify the individual, such as:

  1. technical information, including your browser type, service provider, IP address, operating system and webpages visited;

  2. information about what you've searched for and looked at while using the Website; or

  3. metadata, which means information related to items you made available through the Website, such as the date, time or location that a shared photograph or video was taken or posted.

Generally, we do not consider Usage Data as Personal Information because Usage Data by itself usually does not identify an individual. Personal Information and Usage Data may be linked together. Different types of information also may be linked together and, once linked, may identify an individual person. Some Usage Data may be Personal Information under applicable law.

Location Data

A category of Personal Information collected about the location of a mobile device or computer, including:

  1. the location of the mobile device or computer used to access the Website derived from GPS or WiFi use;

  2. the IP address of the mobile device or computer or internet service used to access the Website; and; and

  3. other information made available by a user or others that indicates the current or prior location of the user.

5. How We Collect Information

Whether we collect certain types of information and how we process it depends on how you use and access the Website. Some information is collected automatically through use of cookies and similar data collection tools. We collect information about you in the following ways:

From You

We collect information from you when you:

  1. Use our services. We collect Personal Information from you when you create an account to use one of our services, contact us for help or information or otherwise voluntarily provide your Personal Information.

  2. Connect with social media though the Website. The Website may offer you the ability to use Facebook Connect or other social media services (collectively, "Social Media") in conjunction with certain services. When you access the Website through your Facebook or other Social Media account, the Website may, depending on your privacy settings, have access to information that you have provided to the Social Media platform. We may use this information for the purposes described in section 6.

From Our Business Partners and Service Providers

Third parties that assist us with our business operations also collect information (including Personal Information and Usage Data) about you through the Website and share it with us.

We may combine the information we collect from you with information from other sources and use the combined information as described in this privacy policy.

Usage Data

We also automatically collect Usage Data when you interact with the Website.

From cookies and other data collection tools

Our Website uses cookies. We use cookies to gather information about your computer for our services and to provide statistical information regarding the use of our Website. Such information will not identify you personally - it is statistical data about our visitors and their use of our Website. This statistical data does not identify any personal details whatsoever. We may also gather information about your general internet use by using a cookie file. Where used, these cookies are downloaded to your computer automatically. This cookie file is stored on the hard drive of your computer, as cookies contain information that is transferred to your computer's hard drive. They help us to improve our Website and the service that we provide to you by tracking users' navigation habits and storing users' password, customizing users' experience with the Website; enabling us to analyze technical and navigational information; and helping to detect and prevent fraud.

We also use other cookies and other data collection tools (such as web beacons and server logs), which we collectively refer to as "data collection tools," to help improve your experience with the Website. For example, data collection tools help us remember users and make the services more relevant to them.

The Website also may use data collection tools to collect information from the device used to access the Website, such as operating system type, browser type, domain and other system settings, as well as the operating system used and the country and time zone in which the computer or device is located.

Web browsers allow some control of most cookies through the browser settings. To find out more about cookies, including how to manage and delete cookies, visit www.allaboutcookies.org Some web browsers (including some mobile web browsers) provide settings that allow a user to reject cookies or to alert a user when a cookie is placed on the user's computer, tablet or mobile device. Most mobile devices also offer settings to reject mobile device identifiers.

All computers have the ability to decline cookies. This can be done by activating the setting on your browser which enables you to decline the cookies. Please note that should you choose to decline cookies, you may be unable to access particular parts of our Website.

6. How We Use Your Information

We may process the information we collect/you provide to us in accordance with the DPA and GDPR. This information is primarily used to enable us to provide our services to you. In addition, we may use the information for the following purposes:

  1. to operate, improve and personalize the products and services we offer, and to give each user a more consistent and personalized experience when interacting with us;

  2. for customer service, security, to detect fraud or illegal activities, or for archival and backup purposes in connection with the provision of services;

  3. to communicate with users and to notify them about any changes to our Website, such as improvements or service/product changes, that may affect our services;

  4. to better understand how users access and use the Website, for the purposes of trying to improve our services and to respond to user preferences, including language and location customization, personalized help and instructions, or other responses to users' usage of the Website;

  5. to help us develop our new products and services and improve our existing products and services;

  6. to provide users with advertising and direct marketing that is more relevant to you;

  7. to enforce any other applicable policies; and

  8. to assess the effectiveness of and improve advertising and other marketing and promotional activities on or in connection with the Website.

In order to provide you with a better experience and to improve the services, information collected through the Website may be used in an aggregated or individualized manner.

For example, personal information collected during use of one of the services may be used to suggest particular content that can be made available to the user on another service or be used to try to present more relevant advertising in another service.

7. How We Share and Disclose Your Information

We may share and disclose information as described at the time information is collected or as follows:

When you consent

We may share Personal Information with third parties if you have given us your consent to do so or:

  1. in the event that we sell or buy any business or assets, in which case we may disclose your Personal Information to the prospective seller or buyer of such business or assets;

  2. if we or substantially all of our assets are acquired by a third party, in which case personal data held by us about our customers will be one of the transferred assets;

  3. if we are under a duty to disclose or share your Personal Information in order to comply with any legal obligation or in order to enforce or apply our Website Terms and other agreements, but we will endeavor to minimise such disclosure to only that reasonably necessary and, where possible, to provide you with notice of such disclosure; and/or

  4. to protect the rights, property, or safety of Wahed, the Website, our users and any third party we interact with to provide the Website.

  5. If you do not want us to use your data, you will have the opportunity to withhold your consent to this when you provide your details to us on the form on which we collect your data, or you can do so by writing to us at Wahed Securities Ltd., Suite 1909, 19th Floor, Citadelle Mall, Sir Edgar Laurent Street, Port-Louis, Mauritius, or sending us an email to globalsupport@wahedinvest.com

  6. In the same manner, if you have given us consent to use your data for a particular purpose you can revoke or vary that consent at any time.

To perform services

We may disclose Personal Information to any member of our group, which means our subsidiaries, our ultimate holding company and its subsidiaries in order to perform services requested or functions initiated by users. In addition, we may disclose Personal Information in order to identify a user in connection with communications sent through the Website. With third party service providers performing services on our behalf We share information, including Personal Information, with our service providers to perform the functions for which we engage them (such as hosting and data analyses). We may share information as needed to operate other related services.

For legal purposes

We also may share information that we collect from users, as needed, to enforce our rights, protect our property or protect the rights, property or safety of others, or as needed to support external auditing, compliance and corporate governance functions. We will disclose Personal Information as we deem necessary to respond to a subpoena, regulation, binding order of a data protection agency, legal process, governmental request or other legal or regulatory process. We may also share Personal Information as required to pursue available remedies or limit damages we may sustain.

In aggregated form

We may share Personal Information about you in an aggregated form that is, in a statistical or summary form that does not include any personal identifiers, with third parties in order to discover and reveal trends about how users like you interact with our services.

During corporate changes

We may transfer information, including your Personal Information, in connection with a merger, sale, acquisition or other change of ownership or control by or of us or any affiliated company (in each case whether in whole or in part). When one of these events occurs, we will use reasonable efforts to notify users before your information is transferred or becomes subject to a different privacy policy.

8. Information Storage and Security

We retain information for a period of seven (7) years. We also retain Personal Information from closed accounts to comply with applicable law, prevent fraud, resolve disputes, troubleshoot problems, assist with any investigation and other actions permitted by law. After this period, we dispose of it according to our data retention and deletion policies.

The security of your Personal Information is important to us. We shall take all appropriate security and organizational measures to prevent unauthorized access to, alteration of, disclosure of, accidental loss, and destruction of personal information under our control. When you register on Wahed website, we use a secure server. The secure server software (SSL) encrypts all information you input before it is sent to us. Furthermore, all of the sensitive data we collect is protected by several layers of encryption and several layers of security to prevent unauthorized access.

However, the security of information transmitted through the internet can never be guaranteed. We are not responsible for any interception or interruption of any communications through the internet or for changes to or losses of data. Users of the Website are responsible for maintaining the security of any password, user ID or other form of authentication involved in obtaining access to password protected or secure areas of any of our digital services. In order to protect you and your data, we may suspend your use of any of the services, without notice, pending an investigation, if any breach of security is suspected. Access to and use of password protected and/or secure areas of any of the services are restricted to authorized users only. Unauthorized access to such areas is prohibited and may lead to criminal prosecution.

9. Your Rights

The DPA and GDPR give you the right and it is also important to us that you are able to access, review and request copy of the Personal information held about you by us. You are also entitled to have incorrect Personal Information about you corrected and you may in some cases ask us to restrict our processing in certain circumstances or delete your Personal Information. Please write to us or contact us by email if you wish to request confirmation of what personal information we hold relating to you. You can write to us at Wahed Securities Ltd., Suite 1909, 19th Floor, Citadelle Mall, Sir Edgar Laurent Street, Port-Louis, Mauritius or by email to globalsupport@wahedinvest.com There is no charge for requesting that we provide you with details of the personal data that we hold. We will provide this information within 30 days of your requesting the data.

You also have the right to change the permissions that you have given us in relation to how we may use your data. You also have the right to request that we cease using your data or that we delete all personal data records that we hold relating to you. You can exercise these rights at any time by writing to us at the addresses detailed above.

The GDPR and DPA also give you right to lodge a complaint with a supervisory authority, in particular in the state where you work, normally live or where any alleged infringement of data protection laws occurred if you consider that the processing of your Personal Data infringes these regulations.

10. Links to Third Party Websites and Services

The Services may contain links to third-party websites and services with which we have no affiliation. A link to any other website does not mean that we guarantee, approve or endorse the information or products available or the quality or accuracy of information presented on it.

We do not operate or control and have no responsibility for the information, products and/or services found on any external websites, unless expressly stated on such external website. Nor do such links represent or endorse the accuracy or reliability of any information, products and/or services provided on or through any external websites, including, without limitation, warranties of any kind, either express or implied, warranties of title or non-infringement or implied warranties of merchantability or fitness for a particular purpose. You assume complete responsibility and risk in your use of any external sites.

If you decide to visit a third party website, you are subject to its privacy policy and practices and not this privacy policy. We encourage you to carefully review the legal and privacy notices of all other digital services that you visit.

We welcome any queries, comments or requests you may have regarding this Privacy Policy. Please do not hesitate to contact us at Wahed Securities Ltd., Suite 1909, 19th Floor, Citadelle Mall, Sir Edgar Laurent Street, Port-Louis, Mauritius or globalsupport@wahedinvest.com

Version: July 5, 2018

Disclaimer

GENERAL DISCLAIMERS

Wahed Securities Ltd. ("Wahed") is licensed by the Financial Services Commission of Mauritius as an Investment Dealer (Broker). Wahed is authorised to execute orders for clients, manage portfolios of clients and give advice on securities transactions to its clients under a license issued under Section 29 of the Securities Act 2005, Rule 4 of the Securities (Licensing) Rules 2007 and the Financial Services (Consolidated Licensing and Fees) Rules 2008. Wahed holds a Category 1 Global Business License under Section 72(6) of the Financial Services Act and is allowed to conduct business outside Mauritius for the purposes of Part X of the Financial Services Act. Wahed does not intend to offer or solicit anyone to buy or sell securities in jurisdictions where such actions are not permitted or in a region where such investment services would be contrary to the laws or regulations.

All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Historical returns, expected returns, and probability projections are provided for informational and illustrative purposes, and may not reflect actual future performance. Wahed assumes no responsibility for liability for your trading and investment results.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Past results of any trading system published by Wahed, through the Website or otherwise, are not indicative of future returns by that system, and are not indicative of future returns which will be realized by you.

The website and the content presented, including, without limitation, the indicators, strategies, columns, articles, publications and guides is to be used for informational purposes only. Wahed cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any third-party information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. You are responsible for conducting your own investment research and decisions, and should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Wahed in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned on the Website or any linked site.

The names, products, services and branding cited within the Website and the Content may be trademark or registered trademarks of their respective owners and the owners retain all legal rights. The use of trademarks or service marks by another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by, Wahed.

YOU EXPRESSLY UNDERSTAND AND AGREE THAT:

WAHED MAKES NO WARRANTY THAT (1) THE WEBSITE OR ANY PRODUCTS, SERVICES, CONTENT, INFORMATION OR OTHER MATERIAL OBTAINED THROUGH THE WEBSITE WILL MEET YOUR REQUIREMENTS OR EXPECTATIONS; (2) THE CONTENT, DATA AND MATERIALS PRESENTED OR DISPLAYED ON THE WEBSITE ARE CORRECT, ACCURATE OR RELIABLE; (3) THE FUNCTIONS AND CONTENT CONTAINED IN OR ON THE WEBSITE WILL BE WITHOUT ERRORS; (4) THE WEBSITE WILL BEFREE OF VIRUSES; (5) THAT THE SECURITY MEASURES TAKEN BY WAHED TO PROTECT USER CONTRIBUTIONS WILL WITHSTAND ATTEMPTS TO EVADE SECURITY MECHANISMS OR THAT THERE WILL BE NO CRACKS, DISABLEMENTS OR OTHER CIRCUMVENTION OF SUCH SECURITY MEASURES; or (6) THAT ANY WEBSITE DEFECTS WILL BE CORRECTED, EVEN IF WAHED IS AWARE OF THEM. WAHED SHALL HAVE NO LIABILITY FOR ANY VIRUSES, DAMAGE TO YOUR COMPUTER, LOSS OF DATA, FINANCIAL LOSS, OR ANY OTHER DAMAGES ARISING FROM YOUR USE OF THIS WEBSITE. ANY AND ALL EXPENSES RELATED TO NECESSARY SERVICES OR REPAIRS FOR SOFTWARE OR HARDWARE, COMPUTER VIRUSES, SOFTWARE CODE, AND ANY LOSSES OR DAMAGES RESULTING FROM USAGE OF THE WEBSITE ARE THE SOLE RESPONSIBILITY OF THE USER.

LIMITS OF LIABILITY

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WAHED, ITS AFFILIATES OR THEIR RESPECTIVE OFFICERS, DIRECTORS, MANAGERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER UNDER CONTRACT, TORT OR ANY OTHER THEORY OF LIABILITY, ARISING IN CONNECTION WITH (1) THE USE OF THE WEBSITE; (2) ANY FAILURE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY, COMPUTER VIRUS OR LOSS OF DATA; (3) ANY LOSS OF USE RELATED TO THE WEBSITE OR A LINKED SITE; (4) ANY DATA OR CONTENT ON THE WEBSITE OR A LINKED SITE, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY YOU ON ANY INFORMATION OR CONTENT OBTAINED FROM WAHED; OR (5) ANY LOSS RELATING TO YOUR INVESTMENTS AND INVESTMENT RESULTS.

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