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These terms and conditions have been prepared and designed to provide clear guidelines and legally binding conditions regarding the services provided by Masar Finance Company, a company established in accordance with the laws of the Kingdom of Saudi Arabia (referred as “Masar” or “the Company”). These terms govern your use of the financing company’s services and application, the company’s website, your relationship with the company, as well as any other services made available to you through the use of the application and website from time to time.

These terms are presented to you for your review and acceptance prior to granting your consent to complete the login and registration process (hereinafter referred to as “registration”). Registration is considered a prerequisite for using the company’s application, the company’s website, and the financial products it provides. Registration requires the Company to perform a KYC check in order to verify you as an authorized user of the Services and will only be done when you indicate your acceptance of the terms.

Please read these terms carefully before completing registration, as the terms affect your rights and obligations under the laws of the Kingdom of Saudi Arabia. If you do not agree to these terms, please refrain from using the application or website by registering. Once you agree to these terms and conditions and complete the registration procedures, you acknowledge That you have read, understood and agree to be bound by these terms.

Definitions:

The following words and phrases will have the following meanings:

  • “Application” means the mobile application that is used as a digital platform to benefit from the Company’s products and services. 
  • “SAMA” means the Central Bank of Saudi Arabia.      
  • “SIMAH” means the Saudi Credit Information Company.  
  • “Customer Care Center” means the customer service center number that customers can reach 24 hours a day to report any technical problems.  
  • “Customer” refers to the “Know Your Customer” process and the customer’s personal identity details that have been authenticated in accordance with the Central Bank of Saudi Arabia and other government agencies’ requirements.    
  • “Lending” refers to the financing products provided to Masar clients. Masar’s decision regarding customers’ eligibility to obtain financing products will be at Masar’s sole discretion and in accordance with the qualification criteria and procedures specified by Masar.   
  • “Money laundering” refers to all activities prohibited in accordance with the anti-money laundering laws and provisions of the Kingdom of Saudi Arabia.  
  • “Activation code” means the 6-digit password code that is issued to the customer when registering for the Masar application service. The 6-digit secret code is used to activate the customer's account.   
  • “Nama Path Finance Company” is a limited liability company registered under the laws of the Kingdom of Saudi Arabia, with a registered headquarters located in Riyadh. 


Requirements and registration:

Registration can be completed through the application and the company's website.

Registration on the website and Masar application is subject to all complete know-your-customer information and verification of the customer’s identity in accordance with the regulations of the Central Bank of Saudi Arabia.

The Company reserves the right, at any time, to take all relevant steps and procedures necessary to ensure compliance with all relevant and applicable Know Your Customer requirements of the Central Bank of Saudi Arabia.

The Customer acknowledges that all information provided is true, complete and accurate.

The Company reserves the right at any time to reject an application in the event of discrepancies or inaccuracies in the information or documents provided by the Client.

When registering on the Masar application or website, the customer will receive an activation code that must be included in the application or website to activate the account. The Customer can change the activation code at any time and must do so immediately for security purposes.

When registering on the Masar application or website, the customer will receive a confirmation message confirming that the account has been successfully created.

The customer is solely responsible for the accuracy of the information provided in the Masar application or website. If the information provided by the customer is determined to be incorrect, false or misleading, Masar does not assume any responsibility and assumes no liability for any consequences that may result from the provision of such incorrect, false or misleading information. If the Customer has actual or inferred knowledge of the inaccuracy of the information provided about his Account, the Customer must notify the Company by calling the Company's toll-free number 8002442233 or sending an e-mail to Complaints@masarfinance.com as soon as possible.

If the Company discovers that the information provided by the Customer is false or misleading, the Company reserves the right to terminate the Customer's account at any time, with or without notice. Termination by Company will be effective immediately or as specified in notice issued by Company. Termination of the Customer's account will include disabling the Customer's access to the Application and the Website.

Security and unauthorized use:

The customer is solely responsible for the confidentiality, integrity and security of the username and password in the application and website.

The customer bears sole responsibility for the consequences arising from unauthorized use.

In the event of the service being lost, broken or otherwise compromised, the customer must inform the company immediately by calling the toll-free number 8002442233 or sending an email to Complaints@masarfinance.com where the account will be blocked, and new credentials will be issued to the customer after validation.

The customer is responsible for maintaining the confidentiality of the username, password, and any other access code provided by the company, and the customer is prohibited from disclosing the details of the record to any person, including the customer care employee or the customer care center.


Customer obligations:

The customer bears responsibility for any fees and expenses associated with the financing facilities provided. The customer may not use the company’s services for any purpose that could be construed as violating or unacceptable in accordance with any applicable laws, Central Bank of Saudi Arabia regulations, guidelines, judicial statements, company policy or public policy or for any purpose. It may negatively harm the company's brand.

The Customer is responsible for maintaining privacy and restricting access to and use of his account and password, and agrees to accept responsibility for all activities that occur under his account and password.

The customer must notify us immediately of any unauthorized use of your password or account or any other violation of the standards for safe use of the site.

The Customer is obligated to cooperate with requests from us to obtain additional information regarding his eligibility and use of our Services.

Client's representations:

The Customer acknowledges that if he accesses, registers or continues to use or access the Services, he agrees to be bound by these Terms of Use and the Legal Documents with immediate effect.

The Customer acknowledges that a waiver of any of the provisions contained in the Terms of Use does not constitute a waiver of any other provisions (similar or not), nor does any other waiver constitute a continuing waiver of any of the provisions in question, unless we expressly stipulate this in writing.

The customer acknowledges that if any of the provisions of these Terms of Use are considered invalid by any of the competent courts or illegal or unenforceable, then this clause of these Terms of Use will be canceled and the rest of the terms and conditions will continue to remain in force as long as the legal and economic essence of the transactions remains. It was carried out under its terms and without any adverse effect on its parties.

To benefit from the company's electronic services and products, the customer acknowledges that he must be able to register through the device using the OTP sent by the company to use the application and the website as a security measure. The one-time password is assigned to the customer's mobile phone and is used for registration purposes. The Customer will be responsible for the mobile phone and any use of it or the one-time password, whether by a third party or any other person. Any use of the Customer's mobile phone or OTP shall be deemed use by the Customer. It is the Customer's responsibility to notify the Company of any change in mobile phone number and the Company will in no event be liable for any losses, damages, costs, fees or expenses incurred as a result of failure to do so. This also applies to the verification code sent from the Absher service “Nafeth” to the customer.

The Customer acknowledges and confirms that the IBAN bank account number registered in the application is the Customer’s and is correct, and acknowledges that he is responsible for any transaction that occurs from it.

The Customer must provide the Company with such information and data or provide the assistance requested by the Company to perform its obligations regarding services, products and electronic transactions.

The postal address, email address and telephone number registered in your electronic record as set forth in the electronic application form are final for the purpose of sending notices and communicating with you. The private means of communication that we use will be according to our choice, and the customer acknowledges that it is his responsibility to review the notices sent by the company immediately upon receipt of the notice.

The Customer agrees to receive advertising and marketing messages and materials from the Company and to deliver our services, products, websites and web pages using email, online, telephone or mobile communications including SMS services.

We may record all communications through these various means for record-keeping and security purposes. You will be asked for your consent and authorization for us to make such recordings. You also confirm that the data, information and instructions stored in this way can be relied upon and notify any of the third parties previously mentioned in the paragraph (Privacy Policy / Client Confidentiality and Information Disclosure) that may be requested to a limited extent and all or some of the stored data and information will be extracted as evidence in any proceedings. or something else.

The Client acknowledges that all such recordings and all of our books, records and accounts will be as conclusive and binding as any certificate or statement of account issued by us unless there is clear error or gross negligence. Accordingly, you implicitly agree that all electronic transactions sent to you from us are legally binding and are treated as a written transaction after adding your electronic signature to it.

The Company may, in its sole discretion, prevent you from transacting electronically or accessing or using its websites, services and web pages for any reason, including, but not limited to, if the Company believes that you are not acting in accordance with the terms and conditions associated with your visit, noting that preventing you Access to it will never affect your account or accounts with the Company, as it will remain valid and available to you through other means.

In order to protect your interests with us, the Company may suspend your access to it, whether with prior notice or not, if the Company finds that a security issue may arise that requires further investigation and inspection. You will be able to access websites, services, and web pages later when a suitable solution to the security issue is found and you are satisfied with the results.

The client acknowledges the authenticity of documents, electronic records and electronic signature. The two parties declare their choice and of their own free will by agreeing that all their dealings will be kept in records, electronic files, or any technical method for photocopying documents, and they will be considered an argument and evidence in arbitration and in all courts, committees, and bodies. Neither of them may reject these electronic records or files as a means of proof.

The customer who signs the electronic contract electronically understands and declares after reading the terms and conditions stipulated in this system that the electronic signature is considered a written signature. At that time, the electronic signature is binding on the customer.

The Customer understands and declares that when placing an electronic signature on a form, service contract, product, or electronic transaction submitted via the Internet, he is deemed to have given his written approval to it and to everything stipulated therein.

The client understands and declares that it is not permissible to deny the validity of the electronic signature or his inability to execute it, nor prevent its execution because it was done electronically.

The Customer bears full responsibility for taking the necessary precautions to avoid incorrect and illegal use of his electronic signature. The company does not bear any responsibility resulting from this.


Client's representations:

The Customer acknowledges that if he accesses, registers or continues to use or access the Services, he agrees to be bound by these Terms of Use and the Legal Documents with immediate effect.

The Customer acknowledges that a waiver of any of the provisions contained in the Terms of Use does not constitute a waiver of any other provisions (similar or not), nor does any other waiver constitute a continuing waiver of any of the provisions in question, unless we expressly stipulate this in writing.

The customer acknowledges that if any of the provisions of these Terms of Use are considered invalid by any of the competent courts or illegal or unenforceable, then this clause of these Terms of Use will be canceled and the rest of the terms and conditions will continue to remain in force as long as the legal and economic essence of the transactions remains. It was carried out under its terms and without any adverse effect on its parties.

To benefit from the company's electronic services and products, the customer acknowledges that he must be able to register through the device using the OTP sent by the company to use the application and the website as a security measure. The one-time password is assigned to the customer's mobile phone and is used for registration purposes. The Customer will be responsible for the mobile phone and any use of it or the one-time password, whether by a third party or any other person. Any use of the Customer's mobile phone or OTP shall be deemed use by the Customer. It is the Customer's responsibility to notify the Company of any change in mobile phone number and the Company will in no event be liable for any losses, damages, costs, fees or expenses incurred as a result of failure to do so. This also applies to the verification code sent from the Absher service “Nafeth” to the customer.

The Customer acknowledges and confirms that the IBAN bank account number registered in the application is the Customer’s and is correct, and acknowledges that he is responsible for any transaction that occurs from it.

The Customer must provide the Company with such information and data or provide the assistance requested by the Company to perform its obligations regarding services, products and electronic transactions.

The postal address, email address and telephone number registered in your electronic record as set forth in the electronic application form are final for the purpose of sending notices and communicating with you. The private means of communication that we use will be according to our choice, and the customer acknowledges that it is his responsibility to review the notices sent by the company immediately upon receipt of the notice.

The Customer agrees to receive advertising and marketing messages and materials from the Company and to deliver our services, products, websites and web pages using email, online, telephone or mobile communications including SMS services.

We may record all communications through these various means for record-keeping and security purposes. You will be asked for your consent and authorization for us to make such recordings. You also confirm that the data, information and instructions stored in this way can be relied upon and notify any of the third parties previously mentioned in the paragraph (Privacy Policy / Client Confidentiality and Information Disclosure) that may be requested to a limited extent and all or some of the stored data and information will be extracted as evidence in any proceedings. or something else.

The Client acknowledges that all such recordings and all of our books, records and accounts will be as conclusive and binding as any certificate or statement of account issued by us unless there is clear error or gross negligence. Accordingly, you implicitly agree that all electronic transactions sent to you from us are legally binding and are treated as a written transaction after adding your electronic signature to it.

The Company may, in its sole discretion, prevent you from transacting electronically or accessing or using its websites, services and web pages for any reason, including, but not limited to, if the Company believes that you are not acting in accordance with the terms and conditions associated with your visit, noting that preventing you Access to it will never affect your account or accounts with the Company, as it will remain valid and available to you through other means.

In order to protect your interests with us, the Company may suspend your access to it, whether with prior notice or not, if the Company finds that a security issue may arise that requires further investigation and inspection. You will be able to access websites, services, and web pages later when a suitable solution to the security issue is found and you are satisfied with the results.

The client acknowledges the authenticity of documents, electronic records and electronic signature. The two parties declare their choice and of their own free will by agreeing that all their dealings will be kept in records, electronic files, or any technical method for photocopying documents, and they will be considered an argument and evidence in arbitration and in all courts, committees, and bodies. Neither of them may reject these electronic records or files as a means of proof.

The customer who signs the electronic contract electronically understands and declares after reading the terms and conditions stipulated in this system that the electronic signature is considered a written signature. At that time, the electronic signature is binding on the customer.

The Customer understands and declares that when placing an electronic signature on a form, service contract, product, or electronic transaction submitted via the Internet, he is deemed to have given his written approval to it and to everything stipulated therein.

The client understands and declares that it is not permissible to deny the validity of the electronic signature or his inability to execute it, nor prevent its execution because it was done electronically.

The Customer bears full responsibility for taking the necessary precautions to avoid incorrect and illegal use of his electronic signature. The company does not bear any responsibility resulting from this.

Disclaimer and Indemnification:

Masar, its affiliates, licensors, suppliers, advertisers, sponsors and agents disclaim all warranties, express or implied, including, but not limited to, the implied warranties of title, non-infringement, accuracy, merchantability, fitness for a particular purpose, and any warranties that may arise through dealing, or the context of performance or trade use.

The Customer acknowledges that it is responsible for obtaining and maintaining all mobile devices and other devices necessary to access and use the Application or Website and all fees associated therewith.

The Company makes no express or implied warranty or representation of any kind with respect to the Company's services, which are not expressly stated herein.

The Company will not be liable for any acts or omissions of any third-party including services not expressly authorized by the Company.

The Company shall not be liable to any person for any delay, loss of business, profit, revenue, goodwill, anticipated savings, damages, charges, costs or expenses of any kind arising on the Company Application Services due to non-availability/use of the Company Application Services or Website or otherwise.

The Customer agrees to indemnify, defend and protect the Company and/or related parties from all claims, losses, damages, liabilities, costs and expenses, including but not limited to legal fees and expenses arising from or related to the use or misuse of the Company’s application services, and for any violation of these Terms. Terms, or any breach of warranties and representations.


Changes to terms and conditions:

Masar Company has the right to make any changes to these terms at any time. In the event of any change, the company will notify customers through documented means of communication of any change in the terms and conditions within at least 30 days before these changes take effect, and the updated terms and conditions will be displayed through the company's website and application.

If he continues to use the site after publishing any change, this means his acceptance of these terms of use and the modified legal documents.

General terms and conditions:

  • The Customer must immediately inform the Company of any changes to his or her personal information by calling 8002442233 or email Complaints@masarfinance.com  
  • Any dispute with or filing a complaint against any financial services provided through the application or website must be reported directly by the customer by calling 8002442233 or sending an email to Complaints@masarfinance.com
  •  Path is entitled to investigate the claim and report in good faith and at its sole discretion to resolve any disputes fairly and amicably.
  •  In the event of any dispute, the company's records will be binding as conclusive proof of the transactions made through the use of the application.
  • The customer agrees to receive SMS text messages from the company via the mobile phone registered on the Absher platform.
  • These terms (or any amended version) are considered an agreement that binds the customer or his representatives to the terms and conditions stipulated in this agreement.
  •  All rights and remedies mentioned in this agreement are cumulative and do not exclude any rights or remedies provided by law.
  • To view the principles of protecting customers of financial institutions, please click on the file below: Principles and rules of protecting customers of financial institutions.

Principles and rules for protecting clients of financial institutions.


Applicable law:

This contract shall be governed by and construed in accordance with the laws and regulations of the Kingdom of Saudi Arabia and all disputes arising from this document will be referred to the courts of the Kingdom of Saudi Arabia.

Customer approval:

  • I acknowledge that the data contained in this application is completely correct and under my responsibility and is binding on me and complementary to the terms of the financing contract or any document signed upon your final approval. I also grant the company the right to contact me at any time, and I agree to the interactive analysis through the application and to receive promotional notifications and notices. Related to the financing request journey through the use of the application or website. I also agree to provide the company with any information or data that it requests from me to establish my account with it and/or to review it and/or to manage it, and I authorize it to obtain the information it needs or needs regarding me or any other account that may be To the Saudi Credit Information Company and/or any governmental entity and to disclose my information and my aforementioned account or any other account I have with it to the Saudi Credit Information Company and/or any other entity approved by the Central Bank of Saudi Arabia.
  • I acknowledge that I am the real beneficiary of the financing request
  • I acknowledge that disclosing the true source of funds and the actual purpose of the payment process when dealing with financial institutions is an existing obligation imposed by the law and its requirements. Otherwise, it will lead to criminal accountability. Also, if I receive cash amounts of unknown origin from a person to pay them in the company, it exposes me to criminal accountability. The source of the money to be paid may be illegal.
  • I also agree not to accept any transfer or payment of amounts received from a third party except after signing a payment form by the third party and providing the company with all necessary documents to verify the source of the funds and the persons depositing them before making any payment and settlement of the amounts.
  • In the event of loss or failure of the customer number registered on the company’s application or website, the customer must inform the company immediately through live chat support for customer service on the company’s application or website or other channels available to stop the service to prevent unauthorized use of the company’s services, this activity includes Unauthorized including but not limited to fraud, money laundering, terrorist financing and blacklisting.
  • Your use of hyperlinks will be at your own risk, as we provide these hyperlinks to other sites on the Internet for information and customer convenience purposes only. This does not imply endorsement of any third-party websites.
  • We are not responsible for the accuracy, timeliness, continuity, availability or existence of content, jump links or third-party sites or pages linked to the Site or any local site. We point out that links to downloadable software sites are for the customer's convenience only and we are not responsible for any difficulties or consequences related to downloading the software. Use of any downloaded software will be subject to the terms of the license agreement (if any) that accompanies or accompanies the software.
  • Customers give their full consent and authorization to the Company to request personal information from “Know Your Customer” from Absher or any other organization to determine and evaluate the individual’s identity and legal capacity to comply with the obligations stipulated in these terms and conditions.


Suspension and closure of account and services:


The Company reserves the right to suspend or discontinue the Company's services and application in whole or in part, or to ban, restrict, terminate the account, or suspend the use of any secret code at its discretion, at any time in the following cases:

  1. If the company has reason to believe that the customer’s mobile phone or the password used to obtain the company’s services is being used contrary to what was disclosed or being used in illegal activities.
  2. In the event that any specialized legal, regulatory, governmental or any other similar body investigates or takes regulatory, administrative or executive measures against the customer or any other action that the company believes may harm its reputation.
  3. In the event that the customer does not comply with the conditions, regulations or instructions related to the use of the company’s services, including the terms of use.
  4. If the customer informs the company that the number registered in the application or website has been lost or stolen, or that the password has been incorrectly disclosed to another person.
  5. Upon receiving a request from the client to close the account, after closing all obligations with the company.
  6. For technical malfunction, modification, upgrade, change, transfer, repair and/or maintenance due to any emergency or for any technical reasons.
  7. Upon any suspicion of violation of the rules, regulations, orders, directives and notices issued by the Central Bank of Saudi Arabia or of any violation of the terms and conditions mentioned here.

-    The Company is not liable to the Customer for any direct or indirect loss, defect or damage resulting from any behavior, or the Customer’s negligence regarding the status of his account in the event of closure or suspension.

-    The customer acknowledges that he has full legal capacity to agree to these terms and conditions and the contract with Masar Company and other relevant legal documents. If the customer has a lack of legal capacity for any reason, he will contact the company at (by calling 8002442233 or sending an email to Complaints@masarfinance.com) to follow the approved procedures for persons with special needs or lack of eligibility before starting the application process.


Last Update : 24 February 2024 12:27 PM Visits: 262