Terms and Conditions

These Terms and Conditions (“Terms”) have been drafted to provide clear guidance and legally binding terms regarding services provided to the customer by Tamam Financing Company, as per commercial registration no. 1010573360, national unified no. 7008736279, duly licensed and authorized by the Saudi Central Bank, using the brand name (“Tamam”) hereinafter referred to as(“we”, “us”, “the Company” or “Tamam”) . These Terms govern the use of Tamam application (“Tamam Application”) for micro-financing services, the Tamam Website (“The Tamam Site”) and the customer’s relationship with the Company as well as any other services that are made available through using Tamam Application from time to time(the “Services”) . This agreement is available both in Arabic and English.

These Terms are being presented to the customer’s review and acceptance before he grants his consent for the completion of the onboarding and registration process (hereinafter referred to as “Registration”). Registration is a prerequisite for using Tamam Application, Tamam Site, and Services. Registration requires the Company to undertake “Know Your Customer” procedures (hereinafter referred to as “KYC”) to verify the customer’s status as an authorized user of the Services when accepting these conditions.

Please read these Terms carefully before the completion of Registration, as the Terms affect your rights and liabilities under the laws of the Kingdom of Saudi Arabia. If you do not agree to these Terms, please refrain from using the Tamam Site or the Tamam Application.

By registering for Tamam Application Services, you acknowledge that you have read, understood, and agree to be bound by these Terms.

Definitions

“Account” means the electronic money account the Customer opens with the Tamam Application for the use of the Services after registering and accepting the terms and conditions provided by Tamam.

“Customer” refers to any person, 20-years or older, who has registered for Tamam Application Services and has accepted its Terms and Conditions as reflected in this agreement.

“Credentials” means the Customer’s username and PIN code used to access the Tamam Application.

“SAMA” means the Saudi Central Bank.

“SIMAH” means the Saudi Credit Bureau.

“Charges” means the service charges imposed by Tamam on different Services offered on the Tamam Application.

“Credit” is the balance of approved finance available in the Account.

“Customer Care Center” means the customer care service which Customers may access during working hours to report any technical problems experienced through using Tamam Application or Service through available channels (email using support@tamam.life, calling on 800 1010999, live chat) and which allows Tamam Financing Company to respond to such problems or address any other Customers inquiries.

“Digital Installment” means the micro-financing service for purchase of assets including goods from Participating Retailers.

“Financing” refers to the micro-financing service offered to Tamam Customers on a case-by-case basis. Tamam’s determination of the Customers eligibility to receive micro-financing will be at Tamam’s sole discretion and in accordance with Tamam’s defined qualification criteria and procedures.

“KYC” refers to the “Know-Your-Customer” process and to the personal identification details of a Customer, which is authenticated as per SAMA and other government entity requirements.

“Money Laundering” refers to all activities prohibited in accordance with the KSA’s Anti-Money Laundering laws and rulings.

“Participating Retailers” means the online and physical retailers in KSA that offer the Tamam micro-financing service for purchase of assets including goods.

“Partner Bank” means the bank holding the Tamam Bank Account.

“PIN Code” means the 6-digit personal identification number selected by the Customer to secure their Account.

“Registration” means the registration process which the Customer must complete to be able to use the Tamam Service.

“A” means Saudi Arabian Riyals.

“Tamam Application” is an electronic platform offered by Tamam Financing Company, through which the registered Customer can obtain microfinance and manage repayments through various money transfer channels within the boundaries of the KSA, and according to Tamam license issued by SAMA.

“Tamam Bank Account” means the bank account opened in the Partner Bank to regulate and keep all payments on behalf of the Customers.

“Tamam’s Trademark” is Tamam Financing Co.’s trademark specialized in the “FinTech” provision of micro-financial services via digital channels, and is authorized by the Saudi Central Bank.

“OTP” means the 6-digit security code number, issued to the customer when registering in “Tamam” Application via ABSHER to validate the Customer’s data and mobile.

Tamam Registration and Requirements

Registration to the Tamam Services can be completed through the Registration process in the Tamam Application.

Completion of “KYC” procedures and verification of customer’s identity in accordance with SAMA regulations is a requirement for registration to Tamam Services.

The Company reserves the right, at any time, to undertake all relevant steps and procedures necessary to ensure compliance with all relevant and applicable SAMA KYC requirements.

The Customer certifies that all information provided is correct, complete, and precise.

The Company reserves the right at any time to reject a registration request in the event of any discrepancies or inaccuracies in the information or documentation provided by the Customer.

As part of the Registration process, the Customer will receive the ABSHER OTP, sent to the Customer’s phone number registered with ABSHER, that must be inserted into Tamam Application to validate the Customer’s data and mobile number. The Customer must accept these Terms and Conditions to activate the Account. The Customer must create the PIN Code for login to the Tamam Application. The Customer can change the PIN Code at any time.

The Customer is solely responsible for the accuracy of the information provided in the Registration process for the Tamam Service. If the information provided by the Customer is determined to be incorrect, erroneous, or misleading, Tamam retains no responsibility and is not liable for any consequences that may result from the provision of such incorrect, erroneous, or misleading information. If the Customer has actual or constructive knowledge regarding the inaccuracy of the information provided about his Account, the Customer must notify the Company by contacting support@tamam.life as soon as possible. If the Company discovers that the information provided by the Customer is false, erroneous, or misleading, the Company reserves the right to terminate the Customer’s Account at any time, with or without notice. A termination by Tamam will be effective immediately or as may be specified in a notice from Tamam. Termination of the Customer’s Account will include disabling the Customer’s access to the Tamam Application.

Account and Data Management

No money can be stored at any point in time in a Tamam Account for Customers in accordance with current SAMA regulations.

The Customer’s Account will remain active for 180 days from the last transaction or the date of Account activation.

In the event of loss or failure of the Customer’s number registered in Tamam Application, the Customer must inform the Company immediately through the Customer Care Live Chat Support on the Tamam Application or other available channels to stop the Service to prevent unauthorized use of Tamam Services. Such unauthorized activity includes but is not limited to:

Fraud
Money laundering
Terrorism financing
Blacklisting

To protect the health or public safety or to protect the life or health of a particular individual or individuals.

To subsequent processing in a way that does not lead to the identification of the personal data owner or any other individual in particular.

By applying for the Tamam Service, Customers shall grant their full consent and authorization for Tamam to request Customer’s data from any financial agency or any institution or any consumer reporting agency to access their financial records or other financial information; to assess and determine Customer’s eligibility.

Customers grant their full consent and authorization for Tamam to request KYC personal information from ABSHER or any other institution to determine and evaluate the individual’s identity and legal capacity to commit themselves to the obligations stated in these Terms and Conditions.

Tamam is not entitled to disclose any personal information, documents, or details of any activities in the Customer’s Account except when requested by a governmental entity specialized in combating fraud, money laundering, and financing of terrorism or where Customer consent has been obtained.

Tamam may disclose personal data where the disclosure is necessary:

To protect the health or public safety or to protect the life or health of a particular individual or individuals.
To subsequent processing in a way that does not lead to the identification of the personal data owner or any other individual in particular.

The Customer shall abide by any related Tamam Application instructions issued by Tamam.

Suspension and Closure of Account and Services

TAMAM Company reserves the right to suspend or discontinue Tamam Services and the Tamam Application, either wholly or partially, or to block, restrict, or terminate the Account or suspend the usage of any PIN Code at its discretion, at any time in the following cases:

If Tamam has a reason to believe that the Customer’s mobile phone or PIN Code used to obtain Tamam Services are being used contrary to what has been disclosed or for illegal activities.
In case any specialized legal, regulatory, or governmental party or any other comparable authority starts an investigation or undertakes regulatory, administrative, or executive procedures against the Customer, or any other act that Tamam believes may harm Tamam’s reputation.
If the Customer does not abide by the conditions, regulations, or relevant instructions for using Tamam Services, including the usage terms.
If the Customer has informed Tamam that the number registered in Tamam Application has been lost or stolen, or that the PIN Code has been improperly disclosed to another person.
Upon receiving a request from the Customer for Account closure, after closing all liabilities with Tamam.
For technical failure, modification, upgrade, variation, relocation, repair, and/or maintenance due to any emergency or technical reasons.
For any suspected violation of the rules, regulations, orders, directions, or notifications issued by SAMA or for any violation of the Terms and Conditions mentioned herein.
It is at Tamam’s discretion to terminate or suspend any customer account.

Tamam is not accountable towards the Customer for any loss, defect, direct, or indirect damage caused by any conduct, or the Customer’s obliviousness to the status of their Account in the event of closure or suspension.

The Customer’s Credit balance in their Account is their privilege during their lifetime. In the event of a Customer’s death, the remaining Credit will be the privilege of their legal inheritors. This will take legal effect after their legal inheritors submit a valid death certificate to the Customer Care Center.

In case there is any defect in operating the service that falls within Tamam’s responsibility for any reason, Tamam will be committed to mitigating the impact of the damage to the Tamam Application, if any.

Service Charges

The Customer shall pay the Charges prescribed by Tamam in the form and manner prescribed for such payment.

The Account will enable the Customer to engage in the following activities:

Financing: Accessing the approved Credit value through various methods, as advised by Tamam from time to time, including but not limited to Account to bank account transfer, and payment to Participating Retailers for acquiring goods or assets.

After completing each Tamam Application transaction activity, the Customer will receive a notification and/or SMS text message that includes a description of the financial transaction on the Account.

Security and Unauthorized Usage

Each Account has one PIN Code by which the Customer can access the account.

The Customer shall be solely responsible for the confidentiality, safety, and security of their PIN Code and other credentials.

The Customer shall be solely responsible for the consequences arising from disclosure of the PIN Code and/or the unauthorized use of Tamam Application and/or Service, and the Customer shall be responsible when they appoint a third party to act on their behalf, intentionally or unintentionally.

If the PIN Code and/or mobile phone associated with Tamam Services is lost, misplaced, or otherwise compromised, the Customer shall promptly inform Tamam by sending an email to support@tamam.life where the Account will be blocked, and new Credentials will be issued to the Customer after the requisite validation.

The Customer is responsible for protecting their mobile phone and its correct use and is also responsible for maintaining the secrecy of the PIN Code and all Tamam Service transactions completed through the Tamam Application.

The Customer has the right to change the PIN Code through the service menu on Tamam Application or through other means. In any case, the Customer must identify themselves upon any Tamam Service transaction by using their mobile phone and PIN Code. The Customer is prohibited from disclosing the PIN Code to anybody, including the Customer Care employee or Customer Care Center.

Customer’s Obligations

The Customer is responsible for all Tamam Service transaction activity and charges accessed by using the PIN Code through the mobile phone whether activities implemented by the Customer or by another person commissioned by the Customer.

Customer may not use the Tamam App or Tamam Services for any purpose that could be construed as infringing or unacceptable in accordance with any applicable regulations, regulations of the Central Bank of Saudi Arabia, guidelines and court rulings, Tamam Policy or Public Policy or for any purpose that may adversely damage Tamam’s reputation.

The Customer shall inform Tamam immediately upon detection of any illegal actions relating to the product or service provided.

The Customer acknowledges the responsibility not to share their personal or financial data to any party other than Tamam in any case.

The Customer acknowledges and warrants that all information entered into the Tamam App or otherwise provided to the Tamam App is true, complete, and up to date including personal information relating to the Account. When executing a transaction, the Tamam platform will rely on the registration information provided by the customer.

The Customer acknowledges that any errors in the information, including misidentification of the Beneficiary(s) or names, or numbers are incorrect, or misspellings, are his/her responsibility and that Tamam will have no responsibility for the execution of any Transaction based on inaccurate or incomplete information provided by the Customer or entered by the Customer.

The Tamam Services are intended to be used in the Kingdom of Saudi Arabia. Specifically and without limitation, the Customer understands and agrees that he may not use the Services where it is (a) induced by or involving the proceeds of crime, fraud, or other improper activity; (b) sent for gambling, including placing bets or paying winnings; (d) which Tamam determines is suspicious or may violate applicable law or regulation, including laws intended to detect and prevent Money Laundering, terrorist financing, human trafficking, fraud, or to enforce currency or exchange rate controls.

The Customer agrees to only request a transaction that complies with these terms and conditions.

The Customer acknowledges to be cautious when granting a power of attorney to another person to carry out its financial transactions and is aware of the risks emanating from granting it.

Data Protection and Confidentiality

Privacy of communication is subject to the terms granted by SAMA and its resolutions and circulars. The Customer agrees that in order to facilitate the provision of Tamam Services, Tamam may be required by law or otherwise to disclose any information or details about the Customer to any governmental authority or when disclosure is made with the written consent of the Customer.

By applying for the Tamam Service, Customers shall grant their full consent and authorization for Tamam to request Customer’s data from non-owner or process it for a purpose other than the one for which it was collected. In such cases the Customer’s personal data will not be recorded or stored in a form that makes it possible to identify the owner and know him directly or indirectly.

Where the non-owner is from a regulator or government agency then the above clause will not apply.

By applying to the Service provided by Tamam, the Customer fully understands and acknowledges that the following minimum personal data shall be used for KYC and marketing purposes:

Name (KYC and Marketing)
National ID/ Iqama (KYC)
National Address (KYC)
Contact number (KYC and Marketing)
IBAN Account Number (KYC)
Credit Card number (KYC)

Except for Sensitive Data, Tamam may process personal data for marketing purposes. As per the regulation, the following are considered to be sensitive data:

Relationship to Saudi Arabian Civil authorities
Credit Data

The “Tamam” user graphics, brand names, logos, design, compilation, information, computer code (including source code and object code), products, software, services, and all other elements of Tamam Services and Tamam Application provided by the Company (the "Materials") are protected by copyright, designs, patent, and trademark laws, international conventions, and other applicable intellectual property rights.

Personal and financial information of Customers can only be accessed and used by authorized employees.

The Customer has the following rights with respect to the Customer’s personal data:

The right to know, including effectively informing the customer of the legal or practical justification for the collection of his/her personal data, and the purpose thereof, and that his data shall not be subsequently processed in a manner incompatible with the purpose of collection or in circumstances other than those business purposes provided by Tamam.
Customer’s right to have access to his/her personal data available to Tamam, such access to be provided by Tamam to this data including the ability to obtain a copy of the customers personal data in a clear format and conforming to the contents of the records, and without a fee.
Customer’s right to request corrections, completions, or updating of his/her personal data available to Tamam.
Customer’s right to request the destruction of his/her personal data available to Tamam, 10 years post the retention period of the Customer’s personal data in the Tamam application.

The Tamam Bank Account keeps all payment information and other funds received from the Customer, and registered in the Customer’s Account (the “Credit Amounts”), as confidential information. The Customer will be the only beneficiary of the Credit Amounts in the Customer’s Tamam Bank Account. The Customer hereby approves keeping the Tamam Application system records in the Tamam Bank Account as a tangible verification of the Credit Amount available at any time in the Customer’s Account.

The Partner Bank holding the Tamam Bank Account is not committed to making an independent investigation of the legitimacy of the Customer’s Credit Amounts.

The Customer has no right to demand any benefits that might accrue from the Credit Amount, and the Partner Bank has the right to keep the benefits for its use for any purposes.

The Company shall utilize all reasonable measures to ensure that Customer's Tamam Service transactions and information remain secure and confidential. Tamam makes no warranty of any kind about the Tamam Application, the Tamam Service, the system and the network or their function or performance, or for any loss or damage, whenever and whatsoever suffered or incurred by the Customer or by any other person resulting from or in connection with the use of Tamam Services.

Disclaimer and Indemnity

The Tamam Application, the Tamam Services, the materials on the Tamam Application, any product or service obtained through Tamam Application are provided "as is" and without warranties of any kind, either express or fully implied permissible under applicable law.

TAMAM and its affiliates, licensors, suppliers, advertisers, sponsors, and agents disclaim all warranties, express or implied, including, without limitation, implied warranties of title, non-infringement, accuracy, merchantability, and fitness for a particular purpose, and any warranties that may arise from course of dealing, course of performance or usage of trade.

TAMAM and its affiliates, licensors, suppliers, advertisers, sponsors, and agents do not guarantee that your use of the Tamam Application and Services will be uninterrupted, error-free, or safe, and defects will be corrected, or that Tamam Application is free of viruses or other harmful components.

The Customer acknowledges that they are responsible for obtaining and maintaining all mobile, hardware, and other equipment needed to access and use the Tamam Application and all charges related to it.

The Customer assumes all responsibility and risk for using Tamam Application and Services and reliance thereon. No opinion, advice, or statement of TAMAM, its affiliates, licensors, suppliers, advertisers, sponsors, agents, members, or visitors, whether or not made on Tamam Application, shall create any warranty. The Customer’s use of the Tamam Application and Services and all Materials provided through the Tamam Application are entirely at their own risk.

Tamam makes no express or implied warranty, guarantee, or undertaking regarding the Tamam Services that are not expressly mentioned herein.

Tamam shall not be responsible for any acts or omissions of any third-party including services which are not expressly authorized by Tamam.

Tamam shall not be liable to any person for any delays, loss of business, profit, revenue or goodwill, anticipated savings, damages, fees, costs, and expenses whatsoever arising, on Tamam Services being unavailable/usage of the Tamam Services or otherwise.

The Customer agrees to indemnify, defend, and hold Tamam and/or related parties harmless from all claims, losses, damages, liabilities, costs, and expenses, including and without limitation legal fees and expenses, arising out of or related to the use or misuse of Tamam Application and Services, for any violation of these Terms and Conditions, or any breach of the warranties, and covenants.

Changes of Terms and Conditions

The Customer shall immediately inform Tamam of any changes to his/her personal information in the Registration Application Form.

For regular support Customers must use the live chat and channels available. Any dispute with or complaint against any financial services provided through Tamam Application must be reported directly by the Customer by going to Tamam.life website and log the complaint. Tamam has the right to investigate the allegation and determine in good faith, at its own discretion, to resolve any disagreements fairly and amicably.

In any dispute, Tamam Application records shall be binding as conclusive evidence of the transactions carried out using Tamam Services.

Tamam owns the copyright, trademark and all other intellectual property rights in the Materials and the Customer hereby agrees that he is not entitled to use or claim such rights.

The Customer agrees to receive SMS from Tamam via the mobile number specified in the registration application form.

These Terms (or any amended copy) are considered an agreement committing the Customer or his representatives to the terms and conditions stipulated herein.

These Terms may not be transferred or referred to any other person except the Customer addressed in the registration form.

All rights and reparations mentioned in this agreement are accumulative and do not exclude any rights or reparations stipulated by the law.

General Terms and Conditions

The Customer shall immediately inform Tamam of any changes to his/her personal information in the Registration Application Form.

For regular support, Customers must use the live chat and channels available.
Any dispute with or complaint against any financial services provided through Tamam Application must be reported directly by the Customer by going to Tamam.life website and logging the complaint.
Tamam has the right to investigate the allegation and determine in good faith, at its own discretion, to resolve any disagreements fairly and amicably.
In any dispute, Tamam Application records shall be binding as conclusive evidence of the transactions carried out using Tamam Services.
Tamam owns the copyright, trademark, and all other intellectual property rights in the Materials, and the Customer hereby agrees that he is not entitled to use or claim such rights.
The Customer agrees to receive SMS from Tamam via the mobile number specified in the registration application form.
These Terms (or any amended copy) are considered an agreement committing the Customer or his representatives to the terms and conditions stipulated herein.
These Terms may not be transferred or referred to any other person except the Customer addressed in the registration form.
All rights and reparations mentioned in this agreement are accumulative and do not exclude any rights or reparations stipulated by the law.

Applicable Law and Settlement of Disputes

The Agreement shall be subject to, construed and implemented according to the laws, regulations, instructions, decrees and any other instruments having the force in the Kingdom of Saudi Arabia. In the event of any dispute or controversy arising between the First Party and the Second Party with regard to the implementation of the Contract which cannot be settled amicably, the matter in dispute shall be referred for final settlement to the competent Saudi court in the Kingdom of Saudi Arabia at the city of Riyadh.

Customer Consent

I hereby declare that I have read the above and clearly understand the content including the processing of personal data and the underlying process to assess and determine the Customer’s eligibility for the Financing from Tamam. By agreeing to the above, I acknowledge and agree that:

By signing any form or document, the signature is considered an endorsement and confirmation of the content of the form or document.
I authorize Tamam to process my personal information in compliance with the regulatory requirements of the Territory and for the purpose of the Tamam processes required for approving Financing.
I authorize Tamam to access my personal information via the Absher Platform or any other organization.
I understand that where the following applies, my consent as a data owner shall not be applicable to the processing of data.
Tamam is unable to contact me through the phone number, E-mail ID, and the address provided during the registration.
Tamam validates my personal data based on a previous loan application.
I authorize Tamam to access my financial records for credit record examination purposes via SIMAH.
I authorize Tamam to access my financial records for filing, updating credit information purposes via SIMAH.
I acknowledge that it is my responsibility to review my Account statements and related notices promptly upon receipt of related notification.
I agree to pay Tamam any outstanding credits, fees, or taxes that have been incurred on my Account.
I agree that only in the following cases shall my personal data be transferred outside the Kingdom or be disclosed to a party outside the Kingdom:
The party to which the personal data is disclosed has an agreement with The Kingdom, or has interests to serve The Kingdom, or for other purposes as determined by the regulations.
The disclosure of the data does not prejudice the national security or the vital interests of The Kingdom.
The party outside The Kingdom has incorporated Data Privacy laws similar to the Personal Data Protection Law (PDPL) followed in The Kingdom which is adopted by Tamam.
Sharing of personal data is approved by SAMA.
I agree to be liable for any damages, costs, or termination of the Account incurred by my failure to acknowledge my account statements and related notices or my personal data, and Tamam shall inform me regarding the damages, costs, or termination of account revocation.
I agree that Tamam may share my data with Participating Retailers for acquiring the assets and for delivery or as may be deemed necessary for the Digital Installment services.
I consent that Tamam can display my name on the Tamam Application pages, on the welcome page prior to logging in, and while I am using the Tamam Application.
I agree to notify Tamam in writing or by phone of any changes to my account information or other information I have provided in connection with these Terms.
I agree to provide my consent for Tamam to send advertising or awareness materials.