Tamam Finance (“Tamam Finance” or “Company” or “We”) is licensed by the Saudi Arabia Monetary Authority (SAMA) to offer financial services in the Kingdom of Saudi Arabia.
We enable our customers to receive micro-loans online, almost instantaneously, entirely through digital means without the need to visit the physical branch of a bank. Customers make use of the Tamam Finance mobile application (“TamamApp”). Customers may also make use of the Tamam Finance Website (“TamamWebsite”).
In this Policy, we distinguish between two types of data that we collect on your behalf: “Identification Data” and “Non-identifying Data”. “Identification Data” means any data that can explicitly identify you. This includes information such as your name or passport number. “Non-identifying Data”, on the other hand, includes information which, on its own, cannot enable a direct association with you or any other natural or legal person. Such information may include the province where you live.
This Policy only governs the collection and use of information collected through or in connection with the TamamApp or TamamWebsite or relevant information which Tamam Finance collects which are necessary to provide services to you. This Policy does not apply to information obtained in other ways or to any other websites, products, software, or services which you may access independently from TamamApp or TamamWebsite.
Your data collected at our website is used for the provision of services offered by Tamam Finance and will NEVER be sold on an individual basis.
This Policy does not apply to the data collection and practices of any third parties you may contract with using or in connection with TamamApp, including but not limited to merchants or your mobile service provider.
By accessing or using TamamApp or TamamWebsite, you agree to the practices described in this Policy.
In addition to this Policy, certain features of TamamApp, promotions or reward schemes offered by Tamam Finance may present different or additional information practices and terms specific to those activities at the time the information is collected.
With the exception of official authorities in the Kingdom of Saudi Arabia, it is the consumers responsibility at all times not to disclose any personal or financial information in relation to the services applied for through Tamam Finance to anybody other than the Tamam Finance under any circumstances.
For more information refer to SAMA Consumer Protection Principles
If you do not agree to the practices described in this Policy, you should not access or use the Tamam Finance application.
Information Collected by Tamam Finance
- Tamam Finance may also collect Non-identifying Data such as your operating system, hardware version, browser type, device settings, the name of your mobile operator or internet service provider, area code, language, time zone and information about user activities on TamamApp, such as how often pages are visited, etc.
- Tamam Finance may collect identification data from the devices on which you install or access TamamApp, such as the location of your devices, including specific geographic areas, such as through GPS, Bluetooth, or Wi-Fi signals; your language settings, and your IP address.
- Tamam Website may use browser cookies to maintain information about your site session; most notably, the ‘state’ of your current web session. Cookies help us identify you; this in-turn enhances your experience at TamamWebsite. These cookies contain no personal and confidential information.
- TamamApp may access your device camera and photo library, for example, to enable you to scan your credit card.
- TamamApp keeps a record of all your activities undertaken in TamamApp to help improve future product performance and user experience.
- When you execute transactions using TamamApp, Tamam Finance will generate and maintain records of those transactions.
- In line with SAMA’s directives, Tamam Finance must determine the maximum loan amount that you are eligible for, before granting any loans. To do so, Tamam Finance collects relevant information about you from the General Organization for Social Insurance (GOSI) (www.gosi.gov.sa) and from the Saudi Credit Bureau (SIMAH) (www.simah.com) to compute your debt-burden ratio (DBR) and deductible ratio (DR). SAMA mandates that all financial services institutions must collect these metrics as set out in SAMA’s official circular No. 46538/99, dated 02/09/1439H (corresponding to 17/05/2018) entitled “Responsible Lending Principles for Individual Customers”. Articles 15, 16 and 17 of this circular mandate specific limits which all financial institutions, including Tamam Finance, must abide by in providing loans to individual customers.
- TamamApp also collects financial Identification Data when you link payment cards (such as your credit or debit card) to your Tamam Finance account.
- The information you provide is validated using verification information sourced by Elm (www.elm.sa), through its Yakeen service, from the Absher data platform developed by the Ministry of Interior of the Kingdom of Saudi Arabia (www.moi.gov.sa).
- TamamApp collects specific Identification Data when you register for personal uses, such as name and mobile phone number, among others.
Information Used by Tamam Finance
Tamam Finance uses the data it collects to conduct the following:
- To provide delivery of associated services within TamamApp to you;
- To evaluate, improve and develop our services and to notify you about these changes;
- To administer our services, including for troubleshooting and testing purposes;
- To help keep TamamApp and Tamam Finance’s systems and services safe and secure;
- To send you marketing communications;
- To potentially show you advertisements and promotions which are relevant to you and to measure the effectiveness of such services;
- To respond to you when you contact Tamam Finance;
- To enforce other agreements between you and Tamam Finance.
Information Disclosed by Tamam Finance
Tamam Finance is obligated to keep your Identification Data confidential and to make it available only:
- To you upon your request, or during login on your page;
- To the approved regulatory authority (SAMA) upon the submission of a valid request by SAMA;
- By order of any competent authority in the Kingdom of Saudi Arabia, which includes the courts and the executive and regulatory bodies.
Any Non-identifying Data that Tamam Finance collects is aggregated with the data of other users and may be disclosed for the purposes described in this Policy without your further consent or any additional restriction.
Protection of Information
Tamam Finance takes appropriate technical and organizational measures to protect your information against accidental and unlawful loss, destruction, alteration, disclosure, access, or use.
Storage of Information
Tamam Finance has an obligation to store your Identification data, including transaction records, on a local server, located in the Kingdom of Saudi Arabia, to grant you easy access and to comply with prevailing legislation on storage of personal data in the Kingdom.
Tamam Finance may amend, alter, or change this Policy in whole or part at any time by giving reasonable notice to you. If you do not agree with any change made by Tamam Finance to this Policy, your sole and exclusive remedy is to terminate your use of TamamApp. This will not however terminate any existing contract between you and Tamam Finance.
Information Management of Former Customer
Insofar as the applicable laws may permit, you authorize Tamam Finance to retain your Identification Data for as long as you are a user of TamamApp and for a minimum of ten years after you cease to be a user, in line with SAMA’s requirements. You authorize Tamam Finance to retain records of each transaction for ten years from the date of the transaction. You authorize Tamam Finance to archive your data when these periods expire. Tamam Finance may retain your Non-identifying Data without your further consent or any other restriction.
Help and Support
You can seek help and support or file a complaint concerning this Policy by contacting Tamam Finance through the available channels on TamamApp or TamamWebsite.