1.Introduction

RIZQ is an online platform owned and operated by Naseeb Online Services (Private) Limited (“RIZQ”) for the provision of various financial, professional development, and insurance-related services to freelancers and salaried professionals (the “Services”). By browsing or accessing the RIZQ site/mobile application in any manner whatsoever, you hereby agree and undertake that the terms and conditions contained herein (the “Terms”) shall govern your use of the provided Services and that you are in express agreement with the contents of these Terms.

RIZQ may modify/alter/amend the Terms at any point in time at its sole discretion or as required by law and without any prior notification. RIZQ shall bear no responsibility or liability towards you or any third party for any variations or modifications to the Terms. You are advised to regularly review the Terms, and in the event that you consider any modifications/revisions to be unacceptable, you are advised to discontinue your use of RIZQ and its associated Services, as your continued use of RIZQ shall constitute acceptance of any modifications/revisions to the Terms.

You understand and agree that with regards to the Services, you shall have a direct relationship with the RIZQ partner institution governing your opted Service(s) RIZQ’s role is limited to that of an intermediary, whereby RIZQ shall enable you to view and connect with third-party financial institutions in order to avail various financial facilities and in no manner and/or form shall RIZQ be liable for ensuring that the availed facilities and associated privileges accrue in the committed manner; RIZQ is not operating as its Partner’s representative, agent or employee.

RIZQ shall not be liable for any claims, losses, harm, damage, complaints, or disputes you may have with respect to availing the Services including without limitation any direct, indirect, exemplary, punitive, special, or consequential damages, including but not limited to loss of business, revenue, profits, losses or damages arising out of claims from the use of RIZQ, howsoever arising and whether under contract, tort or otherwise (including without limitation third party claims, loss of profits, loss of revenue or damage to reputation or goodwill, etc.).

2.RIZQ Wallets

Setting Up Access

1. At the time of registering as a RIZQ user, you must be at least eighteen (18) years of age and of sound mind.
2. Upon signing up for RIZQ, you shall be allocated two (2) purpose-specific wallets each bearing a unique Account ID. The first of these wallets shall be RIZQ’s closed-loop wallet powered by Digitt+ (the “Spending Wallet”) and shall be opened upon you signing up as a RIZQ user. The second shall be a wallet powered by RIZQ’s licensed financial partners (the “Savings Wallet”). In order to be validated as a bonafide RIZQ user, you understand and agree that you shall:
   
   
   1. Deposit, as specified at the time of signing up for RIZQ, the requisite fee, which shall be debited by RIZQ for the purposes of verifying you through Know Your Customer (“KYC”) screening based on the success of which you shall be able to access and utilize the various services offered through RIZQ including but not limited to setting up your Savings Wallet, availing loans and/or purchasing insurance.
   2. Deposit, as specified by RIZQ’s licensed financial partners and amended from time to time, the initial saving deposit amount.
   3. Provide RIZQ and its partners, accurate and complete details obtained through successfully conducted KYC screening.
      
      

      Registration Process  

      1. be a Pakistani national of 18+ years of age;
      2. have a copy of your valid computerized CNIC/NICOP at the time of registration and/or provide a thumb impression for biometric verification;
      3. provide details including residential address, place of birth, mother’s name or such details as may be required by the RIZQ at the time of registration;
      4. provide a live digital photograph of yourself; and
      5. comply with such other criteria as may be required by any amendments to the applicable laws and regulations.
   4. Submit an undertaking confirming that you are opening an account for your own use and not on behalf of any third party and that you have never been denied account opening by any licensed institution.
3. Upon successful KYC screening and confirmation of your compliance with all applicable RIZQ terms & conditions, your Savings Wallet shall be approved and you shall be provided access to the full spectrum of RIZQ Services. For the avoidance of doubt, in the event you fail the KYC screening, your Spending Wallet shall be closed, your RIZQ account shall be deleted, and your access to RIZQ shall be blocked in its entirety.
4. The KYC screening shall be repeated on an annual basis and in this regard you unconditionally authorize RIZQ to deduct the necessary verification fee from funds available in your RIZQ account as and when applicable. In the event, any repeat KYC screening reveals that your provided details are invalid, inaccurate, inauthentic, or incorrect, and/or in the event you have failed to update your details as per the manner prescribed by RIZQ, your RIZQ account shall be terminated.
5. You understand and agree that your RIZQ account shall be terminated subject to a twenty-four (24) hour cure notice in the event you fail to maintain the minimum balance requirements communicated from time to time.
6. RIZQ reserves the exclusive right to accept or reject your request to set up a RIZQ account and gain access to all associated Services.
7. You hereby agree and acknowledge that you are a registered mobile user of a mobile network operator existing and operating in the Islamic Republic of Pakistan, as a designated mobile number is required by RIZQ to communicate important information to its users as and when needed as well as for contract information registration in accordance with applicable laws and regulations.You may be contacted through the email address provided by you at the time of registration. You understand and agree that your use of RIZQ shall be subject to transaction limits as imposed by RIZQ, our financial partners, applicable regulators and under any and all applicable laws, rules and regulations.

Usage Limits RIZQ

You understand and agree that your use of RIZQ shall be subject to transaction limits as imposed by RIZQ, our financial partners, applicable regulators and under any and all applicable laws, rules and regulations.

a. Verification

1. You hereby authorize RIZQ to utilize third-party verification service providers for the purposes of verifying your identification details provided at the time of registering on RIZQ or later as part of the information that may be required from time to time. For the avoidance of doubt, such authorization shall include permission to visit your residential/office premises for verification purposes. In the aforementioned regard, you (i) agree and undertake to provide full accurate, authentic, and correct information to such third-party verification service providers as and when required; and (ii) authorize RIZQ to utilize third-party collection service providers to visit your residential/office premises and to collect any payments payable by you to RIZQ.

2. b. We use biometric verification solely for the purposes of the services provided by RIZQ. Rizq shall transmit biometrics securely using encryption and take other reasonable steps to safeguard this data against unauthorized access, use, or disclosure.

b. Availing Services

1. You may avail various finance/insurance facilities and/or invest in Mutual Funds offered by RIZQ’s partners. Subject to the type of facilities you avail, you may earn profit in the form of markup/interest. RIZQ’s partners shall reserve the exclusive right to accept or reject your request to avail a financial facility and/or to invest in a Mutual Fund. RIZQ shall not be held responsible or liable towards you for any loss or harm incurred due to a RIZQ partner’s exercise of its right to accept or reject your request.
2. With regards to any RIZQ exclusive features that shall be governed/managed solely and exclusively by RIZQ, applicable costs & additional terms and conditions shall be applicable which shall be displayed for your review upon your selecting such a feature for the first time. Your continuance with the feature subsequent to the closure of the additional terms and conditions pop-up window shall constitute an express and unequivocal acceptance of the same by you, thereby binding you without any recourse or right to object to the additionally applied terms and conditions.

c.Security & Confidentiality

1. You undertake and agree that, with regard to your RIZQ credentials, you shall remain solely and exclusively responsible for maintaining their confidentiality and in this regard RIZQ shall not be held liable in any manner whatsoever for your credentials ending up in the wrong hands and/or being misused in wrongful activities including but not limited to money laundering or terrorism financing.
2. You shall ensure, at your own risk and cost, that all devices utilized by yourself for the purposes of accessing and using RIZQ are adequately protected against any unauthorized access, misuse, or disclosure of your account and/or related account details. In the event that the security of such devices or software is breached, RIZQ shall not be held liable in any manner and/or form for any loss or damage.
3. In the event RIZQ determines, at its sole discretion or on the instructions of any regulatory/governmental authority and/or Court of Law, that your RIZQ account has been compromised due to any illegal, suspicious, fraudulent activity and/or in the event that the security of your RIZQ account has been compromised in any manner whatsoever, RIZQ may suspend/terminate your RIZQ account. You undertake to fully cooperate with RIZQ in any investigation conducted by RIZQ in the above-mentioned regard and in the event of any liability being established with regards to the same, indemnify RIZQ and/or any third party (including without limitation any regulatory authority) for against any claims, loss or harm incurred due to any illegal, suspicious, fraudulent activity being conducted through your RIZQ account.
4. In the event of suspension/termination of your RIZQ account, all funds held therein shall be transferred either (i) to the account from which you originally transferred the funds to your RIZQ account subject to deduction of any applicable fees/charges; or (ii) to the account from which loans were dispersed in the event any funds held in your RIZQ account at the time of suspension/termination were part of dispersed loans or running service cycles such as KOMMITTEES.
5. You undertake and agree that you shall remain liable, at all times, to repay to RIZQ any amount transferred to you in excess of your rightful ownership regardless of why or how such transfers were made.

d. Usage License

1. Through signing up for a RIZQ account, you are granted a non-exclusive, limited, revocable and non-transferable user license (the “License”).
2. With regards to the License, you undertake and understand that:
   1. You shall not download (other than page caching), modify, decompile, recompile, reverse-engineer, translate and/or disassemble any aspect of RIZQ programming for any reason whatsoever.
   2. This License shall not include any right of resale/commercial usage of RIZQ or its contents, any collection and use of product listings, descriptions or prices any RIZQ derivative, any downloading or copying of account information for the benefit of another merchant or use of any data mining, robots or similar data gathering and extraction tools.
3. Any unauthorized use of the License shall entitle RIZQ to terminate the License with immediate effect and to seek all remedies actions available to it under the applicable laws. Additionally, RIZQ reserves the right to terminate this License at any point in time at its sole discretion and without incurring liability towards you and/or any third-party.
4. In the event that you create a RIZQ account as the authorized representative of any business, company, corporate entity and/or organization, the concerned entity shall be taken to have accepted these Terms in their entirety without objection.

e. Digital Business Card

1. The program enables the Customer to apply for and be issued with a Digital Business card, which upon issue may allow the Customer to share their business information (the “Agreed Purpose”) using a digital business card (the “Digital Business Card”).
2. Customer agrees to pay RIZQ the fees corresponding to the particular Services ordered by the Customer, as set forth from time to time on the App, in accordance with the payment terms set out therein. In this regard, the Customer undertakes that his account shall always hold the minimum amount required to pay the annual fee; RIZQ shall be entitled to deduct the annual fee as and when applicable. Inability to deduct the annual fee shall entitle RIZQ to block your Digital Business Card till the due payments are cleared.
3. RIZQ hereby grants the Customer, a worldwide, non-exclusive, non-transferable, revocable and limited right and license to receive, access and use the Digital Business Card, through Customer’s internet connection or proprietary telecommunications line, for the Customer’s networking purposes, in return for Customer’s strict compliance with these Conditions (the “Acceptable Use”).
4. RIZQ hereby authorizes Customer to permit Customer's affiliates, servants and agents (the “Permitted Users”) to receive, access and use Digital Business Card for the Agreed Purpose on condition that (i) Customer shall procure the compliance of Permitted Users with these Conditions and (ii) Customer shall remain responsible and liable for any misuse of the Digital Business Card or breach of these Conditions by Permitted Users in connection with their use of the Digital Business Card or in connection with these Conditions, specifically including any applicable security, integrity or privacy laws or regulations and Acceptable Use.
5. The Customer shall have the option to update their profile display picture on the Digital Business Card (the “Display Picture”). For the purposes of clarity, RIZQ shall bear no responsibility over the accuracy of the Display Pictures including any applicable security, integrity or privacy laws and/or regulations.
6. The Customer shall ensure that neither they nor any Permitted Users will, in connection with their use of the Digital Business Card, upload, share, or otherwise distribute any electronic data, text, messages or other materials, including personal data of such Permitted User (the “Service Data”) in violation of Acceptable Use. RIZQ reserves the right, in its sole discretion, to remove any Service Data that, in its good faith judgment, fails to comply with the Conditions, any other rules of user conduct, or is otherwise harmful, objectionable, or inaccurate. RIZQ shall not be responsible for any failure or delay in removing such content or any business consequences of removing the same.
7. All right, title and interest in and to Service Data remains vested in the Customer and Customer hereby grants RIZQ a non-exclusive, worldwide, royalty free license to use, transmit, distribute, modify, reproduce, display, store and process Service Data to the extent necessary for RIZQ to make available and provide the Digital Business Card to Customer.
8. While RIZQ shall employ its reasonable efforts to safeguard any Service Data uploaded by the Customer to Digital Business Cards system used by RIZQ as part of its provision of the Digital Business Cards, Customer acknowledges that they shall be solely responsible for making backup copies of any and all such Service Data. The Customer specifically understands and agrees that the agreed charges are specifically predicated on this allocation of risk and that consequently Rizq shall have no liability to Customer, its servants, or agents for any loss of or damage to such Service Data.
9. Upon Customer or any Permitted User becoming aware of any non-compliance with these Conditions, including without limitation any Acceptable Use, and/or applicable security, integrity or privacy requirements, the Customer shall notify RIZQ without undue delay, by sending an email summarizing any such non-compliance to [email protected] , to enable any appropriate remedial action to be undertaken by RIZQ.
10. In the event the Digital Business Card is misplaced, lost and/or stolen the Customer shall immediately notify customer support service available on the App and/or Customer Support helpline to block the Digital Business Card. Please note, the reissuance of the Digital Business Card shall be subject to applicable charges available to you on the App.

RIZQ shall bear no responsibility for any misuse of the Digital Business Card in connection to the Digital Business Card being misplaced, lost and/or stolen.

f. RIZQ Newsfeed

1. RIZQ offers a designated Newsfeed for Users where Users can browse, post, comment and share their opinions and form an online community.
2. Parts of this website offer an opportunity for Users to post and exchange opinions and information in certain areas of the RIZQ Newsfeed (the “Comments”). RIZQ does not filter, edit, publish or review Comments prior to their presence on the App. The Comments do not reflect the views and opinions of RIZQ, its agents, and/or affiliates.
3. The Comments reflect the views and opinions of the person who posts their views and opinions. To the extent permitted by applicable laws, RIZQ shall not be liable for the Comments or for any liability, damages, or expenses caused and/or suffered as a result of any use of and/or posting of and/or appearance of the Comments on this website.
4. RIZQ reserves the right to monitor all Comments and to restrict/remove any Comments which can be considered inappropriate, offensive, or causes a breach of these Terms.
5. You hereby undertake and warrant that:
   1. You are entitled to post the Comments on the App and have all necessary licenses and consents to do so;
   2. The Comments do not invade any intellectual property right, including without limitation copyright, patent, or trademark of any third party;
   3. The Comments do not contain any defamatory, libelous, offensive, indecent, or otherwise unlawful material which is an invasion of privacy;
   4. The Comments shall not be used to solicit or promote business or custom or present commercial activities or unlawful activity.
6. You hereby grant RIZQ a non-exclusive license to use, reproduce, edit and authorize others to use, reproduce and edit any of your Comments in any and all forms, formats, or media. You further entitle RIZQ to retain copies of all social media posts made by you through the RIZQ Newsfeed.

g. RIZQ Digital Document Locker

1. RIZQ provides an Internet-based document storage and management service that User can access on the App (the “Document Locker”). The User may submit files using the designated email address provided by RIZQ through which the User may share and upload documents as attachments (the "Documents"). The User retains all rights and full ownership of any ownership/intellectual property rights that the User holds on the content of their Documents. For the purposes of clarity, any email received on the email address provided by RIZQ shall be discarded and only the attachments retained and deposited into the Document Locker. The email address provided by RIZQ functions as a storage facility and cannot be used for standard emailing functions.
2. The User shall be solely responsible for their conduct and the content of any files and folders they upload, create, share or store in the Document Locker. The User agrees to comply with all Applicable Laws for their use of the Document Locker.
3. RIZQ shall not monitor or disclose the information regarding your Account or Documents without prior permission unless this is required by Applicable Laws.
4. In the event RIZQ receives information that the Documents or information uploaded by the User is subject to possible breach of the Terms or violation of law or third-party rights, RIZQ reserves the right to remove or restrict access to the Documents or information. RIZQ bears no responsibility or liability for removing the Documents or making them inaccessible. The User shall be solely responsible to solve any legal issues with any third parties before RIZQ can restore User’s access to the Documents in question or the Document Locker.
5. Users shall use the App and Document Locker with good faith and respecting the rights of RIZQ, other users or any other persons. It is forbidden to use the Document Locker for illegal or immoral activities or purposes, including but not limited to the infringement of any intellectual property right, any unauthorized transfer to the User and impersonation or misrepresentation, threatening or harassing another person, but also using Document Locker to develop a similar website or service.
6. The User must not harm the Document Locker or the App in any way, e.g. disable, overburden or impair the Document Locker. Automated technical means to access or to use the Document Locker are not allowed.
7. It is strictly prohibited to use the Document Locker, our software as well as our application programming interface (the “API”) for creating any other services or applications.
8. The User undertakes and agrees that they are not to transmit through post, distribute or otherwise make available any software or other computer files that contain viruses, spyware or any other harmful or deleterious computer code, files or programs such as Trojan horses, worm or other harmful or destructive component.
9. The User shall not transfer their rights regarding the Document Locker to any other person, neither fully nor partly. The User shall notify RIZQ immediately about any problems that they may experience while using the Document Locker. RIZQ shall examine the received information carefully and make efforts to eliminate any issues. In case RIZQ suspects that the problems are caused by User’s hardware, software or network connection, the User shall provide reasonable cooperation for RIZQ to take necessary actions.
10. These Terms do not transfer any rights to User’s Documents to RIZQ; however, RIZQ may access User Account and Documents to respond to any problems regarding the Document Locker or for solving any technical issue related to the Document Locker. RIZQ may grant the same right to the trusted third parties we work with in order to provide uninterrupted services.

h. RIZQ Prime

RIZQ Prime is a premium feature offered by RIZQ for its users to obtain a special status on its App by the name of “RIZQ Prime”). RIZQ Prime offers a diverse array of services for its Customers including but not limited to loans and credit bureau reports (the “Facility and/or Facilities”) to optimize their financial health. Please note, the RIZQ Prime status enables the Customers to apply for loans. In no event shall RIZQ be bound to offer the loan services to RIZQ Prime Customers. In addition to the existing Terms governing the use of the App, these terms & conditions govern the provision of the Facilities offered by RIZQ to RIZQ Prime Customers (the “Conditions”).

By browsing or accessing this site in any manner whatsoever, you hereby agree and undertake that the Conditions contained herein and the Terms of the App shall govern your use of the provided Facilities and that you are in express agreement with the contents of the Conditions.

RIZQ may modify/alter/amend the Conditions at any point in time at its sole discretion or as required by law and without any prior notification. RIZQ shall bear no responsibility or liability towards you or any third-party for any variations or modifications to the Conditions. You are advised to regularly review the Conditions and, in the event that you consider any modifications/revisions to be unacceptable, you are advised to discontinue your use of RIZQ and its associated Services & Facilities as your continued use of RIZQ shall constitute acceptance of any modifications/revisions to the Conditions.

a. Subscription Fee

Customers shall be charged an annual fee amounting to Rs. 500/- (Pak Rupees Five Hundred Only) as subscription fee for availing RIZQ Prime feature. The Customer understands and agrees that RIZQ reserves the right to change the pricing at any point of time; for the purposes of clarity, any annual revision shall only become effective from the next payment cycle.

b. Eligibility

The Customer shall be eligible to apply for loan by submitting a loan application on the App (the “Loan Application”) for a period of one (1) year. For the purposes of clarity, the Loan Application does not grant the Customer any right for approval of the loan. RIZQ reserves the right to accept or reject any Loan Application submitted by the Customer at its sole discretion.
RIZQ Prime status is subject to due diligence including but not limited to employer verification, satisfactory credit report and repayment behavior on RIZQ App. The Customers shall be eligible to submit a loan application after satisfactory due diligence

c. Customer Undertakings

1. RIZQ may refuse an application submitted by a Customer requesting the provision of the Facility. Nothing herein shall entitle or be deemed to grant the Customer any right, title or interest into any Facilities offered by RIZQ under RIZQ Prime.
2. RIZQ makes no representation and provides no warranty to any Customer with respect to the continued availability of the Facilities provided by RIZQ and/or any of its partners. All representations, warranties and other obligations and liabilities, whether express or implied, and whether arising under law, equity, or any other legal doctrine, in connection with the provision of the Facility under these Conditions are hereby excluded and disavowed to the fullest extent permitted by law.
3. Customer authorizes, confirms and agrees that RIZQ has been permitted to obtain and verify any information in connection with the Facility from anyone /entity the RIZQ may consider appropriate (such local or international authority, credit reference agency or any other person/entity which maintains such information) and/or give any such information to any local or international authority, service provider or other person or entity for the purposes of providing any product or services to the Customer in connection with the Facilities (including data processing).

d. Credit Bureau Reporting

1. The Customer authorizes RIZQ and/or its partners to investigate the Customer’s creditworthiness and to obtain consumer reports in connection with the Customer’s application for the right to use the Facilities and, for as long as the Customer Account is open and/or this Agreement is in effect. The Customer authorizes RIZQ to use such information and consumer reports for any purpose, including without limitation, to evaluate the Customer’s application, to service and collect data from the Customer Account, to review whether changes should be made to the terms of Customer Account, and to consider the Customer for offers for other products and services.
2. The Customer represents to RIZQ that all information associated with the Customer’s identity held by any national credit bureau is true and correct in all material respects and that there has been no Material Adverse Change which is not reflected therein. In this regard the Customer undertakes to keep RIZQ and/or its partners indemnified against any and all loss/harm that RIZQ may suffer as a result of the information pertaining to the Customer being inaccurate/false.

e. Credit Bureau Report Provision

The Customer authorizes RIZQ to acquire the customer's credit bureau report for onward provision to the customer.

f. Supplemental Agreement

These Conditions are and shall be supplemented and complemented with the General Terms & Conditions, Loan Terms & Conditions and the Privacy Policy and every clause thereof shall continue to be in full force and effect and binding on the parties thereto save as expressly amended and supplemented by these Conditions.

i. Prohibited Behavior

By creating a RIZQ account, you hereby agree and undertake that you shall not utilize your RIZQ account:

1. For any illegal or fraudulent purpose and/or in connection with any unlawful or criminal activity including but not limited to money-laundering or financing of terrorist activities;
2. In a malicious manner, for example, by hacking into the RIZQ ecosystem or inserting a malicious code or virus into the same and/or associated third-party operating system.
3. To transmit any data or material designed to temporarily or permanently damage, interrupt, corrupt or impair RIZQ’s functionality and/or the functionality of any associated device or network.
4. To gain unauthorized access to other RIZQ accounts or associated computer systems.
5. To transmit or upload any comments, posts or materials that are illegal, vulgar, abusive, threatening, defamatory, misleading, obscene, pornographic and/or discriminatory towards any individual or groups of individual on the basis of their sex, race, ethnicity, nationality, disability, age and/or any other such characteristic.
6. To cyber-stalk or harass other RIZQ users.
7. To impersonate any person or misrepresent that you are affiliated with any company, organization or entity.
8. To engage in any behavior which interferes with other users’ enjoyment of the Site and Services;
9. To upload any comments, posts or materials that infringe the trademarks, copyrights, designs, patents or other intellectual property rights of RIZQ and/or any third-party.
10. For any other behavior which RIZQ determines, at its sole discretion and without prior notification, is incompatible with its values and policies. Failure to comply with the above listed conditions shall entitle RIZQ to remove any post, comment or material that it deems to be objectionable, suspend/terminate your RIZQ account and to pursue against you all remedies and actions permissible under the law.

j. Reporting Objectionable Material

In the event that you deem any material available through RIZQ to be objectionable, you may report the same to RIZQ on receipt of which RIZQ’s team shall endeavor to review and resolve any such report. In this regard, you understand and waive any and all rights of objection to RIZQ being the sole judge of determining whether or not the concerned material is objectionable in nature and incompatible with the Terms and RIZQ values &.

k. Collection & Use of Data

By creating a RIZQ account, you agree and waive all rights of objection to collection and use of your data by RIZQ subject to RIZQ’s Privacy Policy as amended from time to time. You expressly authorize RIZQ to collect and utilize your data for its business purposes which shall include but not be limited to sharing your data with its partners providing the Services.

l. Intellectual Property Rights

The ownership of all rights associated with RIZQ including but not limited to names, titles, trademarks, copyrights, design rights, patent rights, source codes, data, servers, platforms, software applications, confidential information, domains, other applications, databases, and, networks ( the "Intellectual Property Rights") shall at all times remain exclusively vested in and under the ownership of RIZQ. Nothing contained in these Terms shall be construed to confer or create a right in your favor or in favor of any other RIZQ user to use or appropriate the Intellectual Property Rights unless authorized in writing by RIZQ. All products and materials associated with RIZQ, whether existing now or created later, shall constitute RIZQ’s work product and form part of RIZQ’s intellectual property rights. At no point in time shall you be permitted/entitled to directly or indirectly, infringe, reverse engineer, decompile, disassemble, or otherwise attempt to derive source code or other trade secrets associated in any manner or form with RIZQ, its related platforms, applications or software and/or from any other Intellectual Property Rights. Failure to comply with the provisions contained herein shall entitle RIZQ to seek against you any and all relief permissible under the law.

m. Zakat Deductions

Subsequent to you being successful in the KYC screening and being provided with access to the full spectrum of RIZQ Services, you shall provide to RIZQ your Zakat Declaration Form for onward provision to the relevant RIZQ partner institution. The Zakat Declaration Form must be duly signed and submitted within fifteen (15) days of you being provided with access to the full spectrum of RIZQ Services. Upon receipt of the Zakat Declaration Form, RIZQ shall provide the Zakat Declaration Forms to its relevant partner institutions so that they may mark your account and make no Zakat deductions. Notwithstanding, you understand and agree that while RIZQ shall provide the Zakat Declaration Forms to the relevant partner institutions, RIZQ cannot ensure that your accounts are marked and in this regard, you shall hold RIZQ indemnified and free of any liability in the event of any failure on the part of RIZQ’s partner institutions for acting in a timely and required manner.

n. Taxes

You shall be responsible for payment of all direct and indirect federal, provincial, or local taxes, duties, cess, fees, levies, or charges of whatsoever nature payable with respect to your usage of the Services as may be prescribed or levied from time to time under any applicable law. In the event that you have been granted an exemption from payment of a particular tax by a relevant authority, you shall provide RIZQ with all duly signed and executed documentary evidence required by RIZQ and/or its financial partners. Upon successful verification of the same, RIZQ shall notify the relevant financial partner so that no tax deductions are made. For any and all tax deductions made through the use of the Services, you shall be entitled to obtain a Tax Deduction Certificate for which you shall log a request with RIZQ following which RIZQ shall request the relevant financial partner for the release of the same.

o. Indemnification & Limitation of Liability

1. You agree to defend, indemnify and hold harmless RIZQ, its partners, shareholders, employees, directors, officers, agents and their successors and assigns from and against any and all claims, liabilities, damages, losses, costs and expenses, including attorney’s fees, caused by or arising out of claims based upon your actions or inactions, which may result in any loss or liability to RIZQ, its partners and/or any third party including but not limited to the breach of any warranties, representations or undertakings, or in relation to the non-fulfillment of any of your obligations under these Terms or arising out of the your violation of any applicable laws, regulations including but not limited to the Intellectual Property Rights, payment of statutory dues and taxes, claim of libel, defamation, violation of rights of privacy or publicity, loss of service by other subscribers and infringement of intellectual property or other rights. In this regard, you undertake and agree that as and when required by RIZQ, you shall appear before a relevant court of law or regulatory governmental authority to discharge your indemnification obligations. RIZQ shall be entitled to set-off all claims, losses or harm incurred by RIZQ due to your actions, omissions, negligence or breach of these terms and conditions from the money available in your RIZQ account.
2. You shall be solely and directly liable to any regulatory authority, RIZQ’s partners, and/or third party for payment of any penalties or charges due to your non-compliance with these Terms, applicable laws, rules, and regulations. You hereby unconditionally authorize RIZQ to deduct the penalties/charges from the amount available in your RIZQ account. Furthermore, you agree to indemnify and hold harmless RIZQ against all loss, harm, or damages incurred by RIZQ and/or any suits, claims, investigations, proceedings, or disputes initiated against RIZQ with regards to non-compliance by you of applicable laws, rules, and regulations.
3. Access to RIZQ and all associated material provided through RIZQ including but not limited to content, software, functions, materials and information is provided on an "as-is" basis and you undertake and agree that you shall access and use RIZQ at your own risk and cost.
4. Under no circumstances shall RIZQ be liable to you and/or any other RIZQ user for delays or failures in real time update of balances held in your wallets and in this regard you understand that such updations are controlled by RIZQ’s partners and are beyond RIZQ’s control or supervisory purview.
5. RIZQ hereby disclaims: (i) any representations or warranties regarding the Services being offered through RIZQ including any implied warranties of merchantability or fitness for a particular purpose, (ii) implied warranties arising out of course of dealing, course of performance or usage of trade and (iii) any obligation, liability, right, claim or remedy in tort, whether or not arising from RIZQ’s negligence. No representation or warranty is provided by RIZQ pertaining to the adequacy of available Services for your intended purposes nor does RIZQ take any responsibility for provision of the Services in a timely, secure, uninterrupted or error free manner. In this regard you acknowledge and agree that access to RIZQ and/or the Services may be suspended in whole or part from time to time, whether due to any factors including but not limited to routine maintenance, downtime, errors, glitches or other interruptions and that RIZQ shall not, in any manner and/or form, be held liable for any service interruptions, including but not limited to system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of any transaction undertaken through RIZQ.
6. In no event shall RIZQ be liable to you or any third party for any direct, indirect, exemplary, punitive, special or consequential damages, including but not limited to loss of business, revenue, profits, losses or damages arising out of claims from your access to RIZQ and the Services provided through it, howsoever arising and whether under contract, tort or otherwise (including without limitation third party claims, loss of profits, loss of revenue or damage to reputation or goodwill etc.)
7. The provisions of this clause shall survive suspension/termination of your RIZQ account.

p. Force Majeure

RIZQ shall not be liable for any loss suffered by you or any third party for failure to perform whole or part of its obligations resulting from acts or causes beyond its reasonable control or any acts of God including but not limited to COVID-19, pandemics, strikes, forces on the internet, floods, earthquakes, war, terrorism, national or local emergency, storms, hackers, cyber-crime, cyber-warfare, cyber-terrorism, weather conditions, enactment of new laws and/or amendment of existing laws, or regulations of any governmental or supra-national authority.

q. Suspension/Termination

RIZQ may, at its sole discretion, indefinitely suspend and/or terminate your account and/or access to the Services without prior notification. In such case, RIZQ shall not be held liable towards you or any third-party for any loss, harm or damage arising of such suspension/termination. RIZQ may exercise this right in addition to any other remedies and actions available to it under applicable laws. In the event of any suspension of access to your account and/or the Services due to downtime, maintenance or repairs, RIZQ shall use its best efforts to ensure restoration of access in a timely manner. For the avoidance of doubt, during the period of any suspension/termination of your access to RIZQ and/or the Services, you shall not be entitled to earn any mark-up/ profits or claim punitive damages against any funds invested through RIZQ and use of the Services.

r. Communication

RIZQ shall, at its discretion, utilize any appropriate method to route communication from RIZQ’s partners to you for your information, record and/or necessary action.

s. Complaints Handling

Any complaints pertaining to your RIZQ account and/or the provided Services can be forwarded through:

1. The In-App complaint system available through the Contact Us option.
2. Emailing at [email protected].
3. Calling at 08000-7497 between 09:00AM to 06:00PM (Monday - Friday)

To initiate a complaint, you shall be required to confirm your identity through answering a series of revolving questions based on information you provided at the time of registering as a RIZQ user.

t. Partners

1. UBL Funds
2. Digitt+
3. EZ Wage