Terms & Conditions regarding Add Beneficiary Account Service

  • 1. Customer hereby authorizes Al-Arafah Islami Bank Limited (“AIBL”) to share his/her KYC information (i.e. NID number, Date of Birth, Mobile Number used to open Islamic Wallet) with his/her selected Bank so that such information can be matched with the Bank Account and it can be verified whether the customer is the holder of both the Islamic Wallet and the Bank Account. Without such verification, linking of Bank Account with Islamic Wallet will not be established.
  • 2. Customer needs to ensure that his/her mobile number registered with the Bank and the Mobile Number used to open his/her Islamic Wallet are the same so that when OTP (one-time password) is generated by the Bank to link the CBS account for Add money to Islamic Wallet. The OTP is sent to ensure the real holder of both Islamic Wallet and Bank Account is Same Person.
  • 3. AIBL shall not be held liable if linking is failed due to incorrect bank information provided by the customer, KYC information of the customer does not match with that of the Bank Account or his/her mobile number registered with the Bank and the Mobile Number used to open Islamic Wallet are different.
  • 4. Customer is required to enter correct OTP for the purpose of linking the Bank account for Add Money. Customer is also required to enter PIN of his/her Islamic Wallet to Transfer Fund. Customer must ensure confidentiality, custody and protection of the PIN of his/her Islamic Wallet and the OTP provided by bank and/or AIBL. AIBL shall not be held accountable for any consequences in case PIN, OTP or the Islamic Wallet is compromised by the customer.
  • 5. AIBL shall not be liable for any Add Money/Transfer Fund being rejected by the system for the mistake/noncompliance of rules by the customer.
  • 6. Customer must ensure that the status of the concerned Bank Account is active (is not frozen, dormant or others) and transactions are allowed in the concerned Bank Account. AIBL shall not be liable for any unsuccessful transaction due to such status of the Bank Account
  • 7. AIBL may cancel, reverse or modify any transaction or debit any Islamic Wallet to correct any mistake, overpayment or for any other reasonable grounds after proper investigation. If such cancelation, reversal or debit is made by AIBL, customer will be duly notified.
  • 8. AIBL shall not be liable for any delay made by the concern Bank to credit the customer’s Bank account through Transfer Fund.
  • 9. The Customer shall be bound to bear the fees/charges imposed by AIBL which may vary from time to time for Linked Account Services or relevant services associated with his/her Islamic Wallet
  • 10. In case of non-delivery of OTP, pending Add Money or any other issue associated with the Bank Account, customer can contact to the Customer Service of the Bank.
  • 11. In case of pending Transfer Fund or any other issue associated with Islamic Wallet, customer can contact the Customer Service of AIBL by calling 16434.
  • 12. AIBL reserves the right to add, remove and modify the existing terms and conditions for the Linked Account Service at any time as AIBL deems necessary without giving any prior notice to the customer.
  • 13. These Terms and Conditions are supplementary to the terms and conditions mentioned in the Customer KYC. By accepting this customer shall be deemed to have read and understood these Terms and Conditions.

Terms and Conditions regarding Transfer Fund & Credit Card Bill Payment Service

  • 1. Customer is required to choose the correct Bank and insert the Bank Account information correctly while adding Bank Account in the Islamic Wallet app to Transfer Fund from his/her Islamic Wallet to Bank Account(s) (“Transfer Fund”). Al-Arafah Islami Bank Limited (“AIBL”) will not be liable if money is not transferred or transferred to an unintended Bank Account due to incorrect information.
  • 2. Customer is required to choose the correct Bank and insert the Card information correctly while Credit Card Bill Pay Service. AIBL shall not be liable if credit card bill was paid to an unintended Credit Card due to incorrect information.
  • 3. Customer shall enter the Islamic Wallet PIN to confirm the addition of Bank Account. He/she shall ensure that his/her Islamic Wallet PIN is not shared with anyone else.
  • 4. The user shall be solely and personally responsible for maintaining and ensuring the maximum secrecy and security of his/her Islamic Wallet’s PIN and AIBL shall not be held liable for any fraud and/or loss borne by the user as a result of misuse of PIN due to user’s negligence and/or breach of PIN secrecy or privacy of Islamic Wallet. User must not share the PIN with anyone. The user shall remain fully liable to accept and acknowledge the liabilities of the transaction affected through the use of user’s Account by any person whether with or without knowledge of the user and irrespective of whether authorized by user or not.
  • 5. Once a Transfer Fund/Credit Card Bill payment is completed, it cannot be reversed by AIBL. Therefore, the customer should ensure that the correct Bank Account/Card details are entered while adding Bank Account/Transferring Fund/Using Credit Card Bill Payment Service.
  • 6. AIBL will not be liable for any Transfer Fund/Bill Payment is rejected by the system for the mistake/non-compliance of rules by the customer
  • 7. AIBL will not be liable if any Transfer get reversed by the concern Bank or Bangladesh Electronic Funds Transfer Network (BEFTN) system.
  • 8. AIBL will not be liable for any delay by the concern Bank to credit customer’s selected Bank Account.
  • 9. In case of pending Transfer Fund and any other queries, customers are requested to contact the Customer Service of AIBL by calling 16434.
  • 10. AIBL reserves the right to add, remove and modify the terms and conditions for Transfer Fund if required.
  • 11. AIBL will maintain strict confidentiality relating to the information of user and his/her transactions. However, you acknowledge that AIBL shall have the right to monitor your Account usage and may disclose personal information to any of the following:
    • a.Any regulatory, supervisory or government authority having jurisdiction over AIBL
    • b. Any person to whom AIBL is required or authorized by law or a court of law to disclose such information
    • c. Any organization, service provider or financial institution for the purposes of carrying out permissible outsourced functions and activities of AIBL