Goal-based savings

RIZQ makes goal-based savings, effortlessly easy! Save money for long and short term goals or save collectively with your friends via shared goals envelopes.

Smart Payments

Conveniently schedule your monthly payments and effortlessly pay school fees, utility bills, bank payments, mobile top-ups, and more.

Loans

Never run out of money again because RIZQ is here for you! Apply for up to 50% instant loan against your salary in a matter of minutes.

Health Insurance

Enjoy a carefree life with easy and custom insurance plans to protect you and your loved ones.

Hisaab

Not just budgeting, but intelligent budgeting! Stay one step ahead, review your expenses, calculate savings, and discover new ways to save more.

TERMS & CONDITIONS

1.Introduction

Rizq is an online platform comprising of a website and mobile application (the “Site”) owned and operated by Naseeb Online Services (Private) Limited (the “Rizq”) for the provision of various financial and health insurance-related services (the “Services”). By browsing or accessing the Site in any manner whatsoever, you hereby agree and undertake that the terms and conditions contained herein (the “Terms”) shall govern your use of the Site and the Services.

Rizq may modify the Terms at any point in time at its sole discretion 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. These Terms may be amended from time to time in accordance with any changes or modifications to the applicable laws, rules and regulations. You are advised to regularly review the Terms and, in the event that you consider any modifications thereto to be unacceptable, you are advised to discontinue accessing the Site and availing the Services. Your continued use of the Site and Services shall constitute acceptance of any amended or modified Terms.

2.Rizq Wallets

2.1Setting Up a Mobile Wallet

  1. You hereby agree and acknowledge that all funds transferred by you in order to avail the Services through the Site shall not be stored, collected or held by Rizq in any manner whatsoever. You confirm and acknowledge that your funds shall be transferred to a wallet maintained with UBL Funds (the “Wallet”). In order to set up the Wallet, you hereby agree and undertake that you comply with the following conditions:
    1.   You shall provide accurate and complete details for the purposes of getting verified under the requisite Know Your Customer (the “KYC”) screening. You undertake that you shall provide complete, authentic and accurate KYC details, having particular regard to your full name, address, mobile number, CNIC details and any KYC information that Rizq UBL Funds and/or any third-party service provider appointed by Rizq for the purposes of verifying your KYC details may require for the purposes of setting up your Wallet.
    2. You shall deposit the non-refundable verification fees prescribed on the Site for carrying out the KYC screening into a collection wallet held with Rizq (the “Collection Wallet”).
    3.  You shall deposit a one-time minimum sum of Rs.500/- (Pak Rupees Five Hundred Only) (the “Minimum Deposit”) into the Collection Wallet.
  2. Upon satisfaction of the above-stated conditions and confirmation of the KYC screening to the full satisfaction of Rizq, you shall be entitled to use a Wallet on the Site. The verification fee and Minimum Deposit transferred to the Collection Wallet prior to confirmation of KYC screening may only be transferred by Rizq to the account from which you made the original transfer of funds.

  3.  You hereby agree and acknowledge that the KYC screening shall be conducted on an annual basis, subsequent to which you unconditionally authorize Rizq to deduct the necessary verification fee from your Wallet on an annual basis. Rizq retains the right to deduct the verification fee from your Wallet irrespective of whether or not your verification was successful.
  4. You hereby agree and acknowledge that Rizq shall be carry out a quarterly eCBI screening, subsequent to which you unconditionally authorize Rizq to deduct the necessary eCBI charges from your Wallet on a quarterly basis.
  5. Rizq and/or UBL Funds reserve the exclusive right to accept or reject your request to set up a Wallet through the Site.
  6. For the purposes of setting up a Wallet on the Site, 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.
  7. The SIM and mobile number utilized to set up your Wallet shall be registered in your name before the relevant authorities in the Islamic Republic of Pakistan
  8. You shall designated a unique number to each Wallet, which you shall be required to reference in any communication with Rizq.
  9. You hereby represent and warrant that you are at least eighteen (18) years of age and legally competent to enter into contracts.
  10. Your use of the Site and Services shall be constituted as your acceptance and acknowledgement that you satisfy the eligibility criteria laid out under these Terms.

3. Financial Facilities & Mutual Funds

3.1 Availing Financial Facilities

  1. Rizq is a digital platform that allows its users to view and avail various finance facilities and/or invest in various Mutual Funds offered by different third-party financial institutions whereupon you shall earn profit in the form of mark- up/interest. Rizq's role is limited to that of an intermediary whereby Rizq enables users to view and connect with third-party financial institutions in order to avail various financial facilities.
  2.   You agree and undertake that in order to avail financial facilities and/or in order to invest in various Mutual Funds offered by third-party financial institutions through the Site, you shall be required to undergo a KYC screening in the manner prescribed above in respect of which you shall provide true, accurate and authentic information and details as and when required. You shall not be entitled to earn any profit or mark-up on your funds until and unless you successfully undergo and complete KYC screening. Subsequently, you shall be entitled to transfer your funds for the purposes of investing in various Mutual Funds offered by third-party financial institutions on the Site.
  3. The requisite third-party financial institution reserves 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 third-party financial institution's exercise of their right to accept or reject your request under this sub-clause.
  4. You hereby agree and acknowledge that in the event you are desirous of investing in a Mutual Fund, your funds shall be maintained in an account with said financial institution.
  5. You hereby agree and acknowledge that you shall have a direct relationship with any third-party financial institution from whom you avail various finance facilities and/or if you invest in said third-party financial institution's Mutual Funds. Rizq shall not be held responsible or liable for any claims, losses, harm, damage, complaints or disputes you may have with respect to availing the services of any such third-party financial institution, 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 the Site, 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.).
  6. Rizq does not guarantee that you shall earn any mark-up/profit/interest on any funds invested by you or any third-party in a Mutual Fund offered by any third- party financial institution on this Site. Rizq shall not be responsible or liable towards you or any third-party for payment of any mark-up/profit/interest on any such funds.
  7. You shall designated a unique number to each Wallet, which you shall be required to reference in any communication with Rizq.

3.2 UBL Mutual Funds

  1. You may invest in various Mutual Funds offered by UBL Funds on Rizq, subject to these Terms and the terms and conditions governing the Mutual Funds of UBL Funds (the "UBL Terms & Conditions"). You may access the UBL Terms & Conditions by clicking on the following link: [Insert Link to UBL Terms & Conditions Here] Rizq shall bear no responsibility or liability towards you or any third-party arising out of the enforcement or performance of the UBL Terms & Conditions.
  2.   In order to invest in a Mutual Fund offered by UBL Funds on Rizq, you shall be required to deposit a minimum sum of Rs.500/- (Pak Rupees Five Hundred Only) with Rizq in the manner prescribed on the Site (the "Minimum Deposit") . The value of the Minimum Deposit may be varied or modified subject to the sole and exclusive discretion of Rizq.
  3. In order to invest in a Mutual Fund offered by UBL Funds on Rizq, you shall deposit the requisite amount with Rizq in the manner prescribed on the Site. You hereby authorize Rizq to invest your funds in a Shariah-Compliant Mutual Fund offered by UBL Funds
  4. You may redeem your investment in any Mutual Fund offered by UBL Funds on Rizq subject to the following conditions:
    1. You may redeem up to sixty percent (60%) of your investment in any Mutual Fund or a sum of Rs.200,000/- (Pak Rupees Two Hundred Thousand Only) (whichever is lower) in a single day without payment of any additional fees, markup or penalty to Rizq.
    2. All redemptions may be carried out on the same day provided that a request for a redemption is made to Rizq before 3PM on a business day. No mark-up shall be calculated for the day on which the investment is redeemed. Mark-up shall only be calculated for the remaining, un-redeemed investment.
    3. In the event you wish to redeem one hundred percent (100%) of your investment on the same day, you shall be required to submit a request before 9.30PM on a working day. In the event the investment is not redeemed on the same day, your request shall be processed and you shall redeem your investment on the next working day. In the event you wish to redeem one hundred percent (100%) of your investment on the same day and you submit a request after 9.30PM, you shall only be entitled to redeem sixty percent (60%) of your investment whereas the remainder shall be redeemed on the next working day.

4. Rizq Lending Facilities

4.1. Availing Loans

  1. Starter Loan
    1. Upon creating a Wallet on the Site, you are eligible to avail a Starter Loan of Rs.2000/- (Pak Rupees Two Thousand Only) without payment of any processing fees. You shall be required to repay the Starter Loan within three (3) month from the date of disbursement of the Starter Loan to your Wallet.
    2. You shall repay the Starter Loan to Rizq subject to payment of three percent (3%) mark up per month.
    3. You shall be required to make a minimum payment amounting to five percent (5%) of the Starter Loan including all applicable markup. Upon availing a Starter Loan, Rizq shall provide you with a Schedule of Payment prescribing the requisite Due Dates.
    4. You hereby agree and undertake that you shall make full and timely payment of the Starter Loan to Rizq in accordance with the Schedule of Payment communicated to you in writing.
    5. [Please insert the different mark-up rates that shall apply if the user repays on the same day/prior to due date/etc'
  2. Resolving Credit Line
    Upon creating a Wallet on the Site, you are eligible to avail the Revolving Credit Line subject to the terms and conditions:
  3. Rizq provides various other micro-loans and lending facilities to its users in accordance with its internal policies and guidelines, which may be amended from time to time. In order to avail a loan from Rizq, you shall be required to undergo a KYC screening (as described above) in respect of which you shall provide true, accurate and authentic information and details as and when required, which you shall ensure remain updated at all times.
  4. Rizq utilizes a complex algorithm to determine your credit-worthiness before accepting or rejecting your request to avail a loan. Rizq does not guarantee that your request to avail a loan shall be accepted and Rizq hereby disclaims all liability arising from its decision to reject your request.
  5. Rizq shall calculate mark-up on the basis of a 360-day calendrical year. If you repay any amount under a lending facility offered by Rizq on the Site before 3PM on the Due Date, Rizq shall not charge any mark-up on the due amount for the date of settlement of the paid amount. The foregoing shall only apply to financial facilities offered by Rizq. In case of any non-Rizq loans, you shall be governed by the terms and conditions of the concerned third-party lender on the Site.
  6. You shall repay any loan availed from Rizq in accordance with the schedule of repayment prescribed by Rizq, including without limitation any mark up, additional charges, processing fees and/or penalties/late-payment fees imposed upon you by Rizq in accordance with the terms and conditions of the lending facility and/or the internal policies and guidelines of Rizq. You hereby authorize Rizq to deduct the aforementioned fees and charges from your Wallet at all times.
  7. Rizq shall be entitled to set-off any debt or outstanding amount payable by you to Rizq against any amounts payable by Rizq to you at any point in time.
  8. In the event you fail to repay any amount due and payable by you to Rizq, you hereby agree and acknowledge that Rizq shall be entitled to create a lien over any amounts in your Wallet. In such case, Rizq shall be entitled to prevent you from transferring, withdrawing or accessing the aforesaid amounts in your Wallet until full recovery of the outstanding amount.

4.2. Event of Default

Upon the occurrence of an Event of Default you hereby agree and acknowledge that Rizq may, in its sole discretion:

  1. Take strict criminal action against you under the applicable laws;
  2. Accelerate your payment obligations towards Rizq by either readjusting your repayment schedule or demanding immediate payment of all outstanding payments associated with your Rizq account;
  3. Initiate civil proceedings against you for recovery of any delayed payments, along with a late payment fee of Rs.100/- (Pak Rupees One Hundred Only) per calendrical day up till the date of full realization of the outstanding payment. o _ (
  4. Report your lack of creditworthiness to the relevant government authorities and/or any other third-parties; and/or
  5. Engage the services of debt collection agencies in order to seek recovery of any and all outstanding payments payable by you to Rizq.
  6. You hereby release and forever discharge Rizq from and against any loss, harm or damage incurred by you or any related third-party due to the enforcement of Rizq's rights, as provided under the Terms.
  7. In the event of your death or incapacitation, your liabilities in respect of the Services, including but not limited to your liability to make payment of any and all dues, charges, fees and loan repayments shall stand transferred to your successors and legal heirs. Rizq may seek recovery of your outstanding dues through an insurance credit cover; the balance outstanding dues (if any) shall form the sole and exclusive liability of your successors and legal heirs.

5. Insurance

5.1 Rizq is a digital platform that allows its users to view and avail various insurance products and services offered by different third-party insurance providers. Rizq's role is limited to that of an intermediary whereby Rizq enables users to view and connect with third-party insurance providers in order to avail various insurance goods and services.

5.2 You agree and undertake that in order to avail various insurance products and services offered by third-party insurance providers on Rizq, you shall be required to undergo a KYC screening in respect of which you shall provide true, accurate and authentic information and details as and when required.

5.3 The requisite third-party insurance provider reserves the exclusive right to accept or reject your request to avail an insurance product or service. Rizq does not guarantee that your request to avail insurance services on the Site shall be accepted and Rizq shall not be held responsible or liable towards you for any loss or harm incurred due to a third-party insurance provider's exercise of their right to accept or reject your request under this sub-clause 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 the Site, 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.).

5.4 You hereby agree and acknowledge that you shall have a direct relationship with any third-party insurance provider from whom you avail various insurance goods or services. Rizq shall not be held responsible or liable for any claims, losses, harm, damage, complaints or disputes you may have with respect to availing the services of any such third-party insurance provider.

5.5 The insurance policy shall be directly communicated with you digitally within a period of three (3) working days by the insurance provider. You shall be solely responsible for using your risk and judgement in reviewing and accepting the terms and conditions of the insurance policy. You may raise any concerns regarding the insurance policy directly with the third-party insurance provider.

6. Other Services

6.1. You may avail various other services offered by Rizq, including but not limited to tax consultancy services. The foregoing are provided by third-party service providers and the provision of all such services shall be subject to the terms and conditions of the concerned third-party service provider. Rizq shall bear no responsibility or liability for any loss, harm or damage and/or suits, claims, disputes or proceedings arising in respect of any third-party services offered on the Site.

7. Other Services

7.1. You may avail various other services offered by Rizq, including but not limited to tax consultancy services. The foregoing are provided by third-party service providers and the provision of all such services shall be subject to the terms and conditions of the concerned third-party service provider. Rizq shall bear no responsibility or liability for any loss, harm or damage and/or suits, claims, disputes or proceedings arising in respect of any third-party services offered on the Site.

8. Security & Confidentiality

  1. You are solely responsible and liable for undertaking all necessary precautions for the purposes of maintaining confidentiality regarding your user identification information (login details, passwords, security PINs, etc) and related Site login details.
  2. You shall ensure, at your own risk and cost, that all devices utilized by yourself for the purposes of using the Site and Services 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 are breached, Rizq shall not be held liable towards you or any third-party for any loss or damage.
  3. You shall be solely responsible for ensuring your account on the Site is not utilized for any illegal, suspicious or fraudulent activities including without limitation money laundering or financing of terrorism.
  4. In the event Rizq determines, at its sole discretion, that your account on the Site is or may have been compromised due to any illegal, suspicious, fraudulent activity and/or in the event the security of your account on the Site has been compromised in any manner whatsoever, Rizq may suspend or terminate your Wallet and/or access to the Services.
  5. Your account on the Site or your Wallet may be suspended or terminated on the instructions of any regulatory or governmental authority, including without limitation any court of law.
  6. Your account on the Site or your Wallet may be suspended or terminated in the event your KYC details transpire to be invalid, inaccurate, inauthentic or incorrect and/or in the event you fail to update your details as per the manner prescribed by Rizq.
  7. Your account on the Site or your Wallet may be suspended or terminated in the event you fail to meet the minimum balance requirements prescribed under these Terms and/or from time to time on the Site. In case of suspension of the Wallet, all existing transactions shall be placed on hold and Rizq reserves the right to deny requests for initiating or processing any new transactions
  8. In the event that Rizq believes your Wallet or Site account has been the subject of a security breach or any illegal, suspicious or fraudulent activity, you shall fully cooperate with Rizq in any investigation conducted by Rizq.
  9. You shall be held solely responsible and liable towards Rizq and/or any third-party (including without limitation any regulatory authority) for any claims, loss or harm incurred due to any illegal, suspicious, fraudulent activity being conducted through your Wallet or account on the Site.
  10. In the event of suspension or termination of your Wallet or Collection Wallet on this Site, all funds in your respective wallets shall be transferred to the account from which you originally transferred the funds, subject to the deduction of any fees or charges by Rizq in accordance with the Terms.
  11. You may reactive your Collection Wallet and/or Wallet upon meeting the minimum balance requirements prescribed under these Terms and/or as prescribed on the Site from time to time.

9.Excess Amount

You agree and acknowledge that you shall remain at all times be liable to pay to Rizq any amount transferred to your Wallet in excess of your rightful ownership, regardless of the reason behind why such an amount has been transferred to your Wallet i.e., due to system or human error or due to technical glitch. Rizq reserves the right to directly recover the excess amount from your Wallet at all times without seeking your prior approval. In the event the error is identified after seven (7) days from the date of the transaction, Rizq reserves the right to charge mark-up on the transaction until the date of settlement.

10. License to Access the Site

  1. Rizq hereby grants to you a non-exclusive, limited, revocable and non-transferable license to access the Site and avail the Services (the "License"). 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. In the event that you register with and/or use the Site on behalf of any business, company, corporate entity and/or organization, you shall be deemed to have bound such an organization or entity to these Terms.
  2.   You shall not download (other than page caching), modify, decompile, recompile, reverse-engineer, translate and/or disassemble the Site without the express prior written approval of Rizq.
  3. This License shall not include any resale or commercial use of the Site or its contents, any collection and use of product listings, descriptions or prices, any derivative use of this Site or its contents, 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.
  4. 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.

11.Prohibited Behavior

By accessing the Site and availing the Services, you hereby agree and undertake the following:

  1. You shall not use the Site or Services 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. You shall not use the Site or Services in a malicious manner, for example, by hacking into or inserting a malicious code or virus into the Site or any third-party operating system;
  3. You shall not transmit any data or material designed to temporarily or permanently damage, interrupt, corrupt or impair the functionality of the Site and/or any other device or network.
  4. You shall not use the Site or Services to gain unauthorized access to other user accounts or computer systems;
  5. You shall not transmit or upload any comments, posts or materials that are illegal, vulgar, abusive, threatening, defamatory, misleading, obscene, pornographic and/or discriminatory against 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. You shall not cyber-stalk or harass other users on this Site;
  7. You shall not impersonate any person or misrepresent that you are affiliated with any company, organization or entity;
  8. You shall not engage in any behavior which interferes with other user's enjoyment of the Site and Services;
  9. You shall not 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. Any other behavior which Rizq determines, at its sole discretion and without prior notification, are incompatible with its values and policies. Failure to comply shall entitle Rizq to remove any post, comment or material that it deems to be objectionable, suspend or terminate your use of the Site and Services and/or pursue all legal remedies and actions against you.

12. Removal of Objectionable Material

In the event that you deem certain material on the Site to be objectionable, you may report the same to Rizq. Our team shall endeavor to review and resolve any such report. However, Rizq shall be the sole judge of determining whether or not any material is objectionable in nature and incompatible with its values, policies and the Terms. Rizq shall not be held responsible or liable towards you or any third-party for failure to remove any flagged or reported material on the Site.

13. Collection & Use of Data

13.1. By accessing the Site and/or availing the Services, you hereby agree to the collection and use of your data by Rizq subject to our Privacy Policy. You hereby 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 technology partners and third-party financial institutions & insurance service providers from whom you avail services by utilizing the Site.

13.2. You hereby authorize Rizq and its third-party technology service provider to access your bank account for the purposes of verifying the amount of your salary. This shall be subject to the terms and conditions of the Privacy Policy, which you can read here.

14. Intellectual Property Rights

The ownership of all rights in the trademarks, copyrights, design rights, patent rights, source codes, data, servers, platforms, software applications, confidential information, domains, the Site and other applications, databases, networks or other intellectual property rights of Rizq(collectively referred to as the "Intellectual Property Rights") shall at all times remain the exclusive property of Rizq and nothing contained in these Terms shall be construed to confer or create a right in favor of the any user to use or appropriate the Intellectual Property Rights unless authorized in writing by Rizq. The Site is solely and independently developed by Rizq and therefore is the work product and intellectual property of Rizq. It is hereby agreed and understood between that the title, ownership and propriety rights in the Site shall at all times remain with Rizq. You shall not, directly or indirectly, infringe, reverse engineer, de-compile, disassemble or otherwise attempt to derive source code or other trade secrets from the Site, its related platforms, applications or software and/or from any other Intellectual Property Rights.

15. 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 the utilization of Services as may be prescribed or levied from time to time under any applicable law (including without limitation GST). In the event you have been granted an exemption from payment of a particular tax by a relevant authority, you shall provide Rizq with documentary proof of the duly signed and executed Waiver of Tax. Upon valid receipt of the Waiver of Tax, Rizq shall not deduct the applicable tax in respect of use of the relevant Service, subject to the condition that you shall provide Rizq with any ancillary documentation and/or details in respect of the Waiver of Tax as and when requested by Rizq. You shall be entitled to obtain a Tax Deduction Certificate from Rizq and/or any third-party financial institutions and insurance providers on the Site at all times through lodging a request on the Site.

16. Indemnification

  1. You agree to defend, indemnify and hold harmless Rizq, its 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 or any third party including but not limited to breach of any warranties, representations or undertakings or in relation to the non-fulfilment 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 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. This clause shall survive suspension or termination of your Wallet and/or access to the Site.
  2. You hereby agree that you shall appear before a relevant court of law or regulatory governmental authority as and when required for the purposes of discharging your obligations under this Clause to the Terms & Conditions.
  3. 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 in your Wallet.
  4. YYou shall be held solely and directly responsible and liable towards any regulatory authority, UBL Funds and/or third-party for payment of any penalties or charges due to your non-compliance with the applicable laws, rules and regulations and/or these Terms. You hereby unconditionally authorize Rizq to deduct the penalties or charges from your Wallet. In the event of the foregoing, you shall 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.

17. Limitation of Liability

  1. The Site, including all content, software, functions, materials and information made available on or provided in connection with your access to and use of the Site, are provided "as-is" You hereby acknowledge and confirm that you shall access and use the Site at your own risk, cost and expense.
  2. Rizq hereby disclaims: (i) any representations or warranties regarding the Site and Services or the transactions contemplated by this Agreement, 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 that the functions contained in the Site shall meet your requirements or be available in a timely, secure, uninterrupted or error free manner. Rizq does not guarantee that the Site and Services shall be functional or available at all times and/or free from any errors, glitches, defects, viruses, downtime and/or other forces on the internet.
  3. You acknowledge that the Site 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. Rizq shall not 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 on the Site.
  4. 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 the use of the Site, 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.).
  5. You hereby agree and acknowledge that Rizq avails the services of various third-parties for the purposes of enhancing your experience and offering to you a diverse range of products and services. Rizq shall, under no circumstances, be liable towards you or any third-party for any direct or indirect loss, harm, damage or any claims, disputes, suits or proceedings initiated against you or any third-party and attributable (in whole or in part) to any third-party service provider on the Site.

18. 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.

19. Suspension/Termination

Rizq may, at its sole discretion, indefinitely suspend and/or terminate your account and access to use the Site and 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. Rizq may exercise this right in addition to any other remedies and actions available to it under the applicable law against you. In the event of any suspension or termination of your account and/or the Site for any downtime, maintenance or repairs, Rizq shall use its best efforts to ensure your account and/or the Site is operational at the earliest possible convenience. You hereby agree and acknowledge that in the event of such suspension or termination, you shall not be entitled to earn any mark-up, profits or claim punitive damages upon your funds invested in any Mutual Fund offered by a third-party financial institution on the Site.

20. Complaints Handling

You may communicate any complaint to Rizq's Complaints Handling Department, which may be contacted over [Insert Helpline Number here] or through the live chat feature available on the Site. Prior to lodging a complaint, you shall be required to confirm your identity to the personnel of Rizq's Complaints Handling Department by answering a series of questions which may change or be amended from time to time.