The Member may place a request for the issue of demand drafts / pay orders (the “Instrument”) by visiting Masraf Al-Islamia branch or through the Masraf Al-Islamia Customer Care Centre or through such other mode, subject to such terms and conditions, as Masraf Al-Islamia may intimate from time to time. In the event the Member places a request through Masraf Al-Islamia Customer Care Centre, of such an amount as may be intimated by Masraf Al-Islamia, he/she may thereafter collect the same from any Instrument issuing Masraf Al-Islamia branch chosen by the Member on the same day of placing such request or within such time as may be intimated to the Member by Masraf Al-Islamia, failing which the Instrument will be sent to the communication address of the Member last recorded in Masraf Al-Islamia’s records. In such an event, Masraf Al-Islamia shall be at liberty to recover charges for such delivery. Masraf Al-Islamia shall not be responsible for non-delivery or delays in delivery or non-receipt of the Instrument.

Masraf Al-Islamia reserves the right to discontinue this service at any time without prior notice to the Member. Masraf Al-Islamia shall have the right to reject the request in the event of insufficient balance at any point in time from the acceptance of the request until dispatch of the Instrument to the Member. Masraf Al-Islamia shall be entitled, at its sole discretion, to accept or reject such requests. The provision of such service shall be subject to such charges as may be applicable, and the Member authorizes Masraf Al-Islamia to recover such charges by debiting the Account.

The Member may request for cancellation of the Instrument in the event the request for the issue of the Instrument is placed through Masraf Al-Islamia Customer Care Centre, provided such request for cancellation is placed while the Instrument is still within the possession of Masraf Al-Islamia.

If the Instrument is lost or has to be canceled once the same is with the Member or his agent, the request for cancellation shall only be accepted at the Instrument issuing Masraf Al-Islamia branch.

Cheques, drafts, bills, dividend/interest warrants, and other instruments issued in favor of the Member are accepted for collection on the Member’s behalf. The collection of outstation instruments entails collection charges. Masraf Al-Islamia does not accept any responsibility for loss, delay, mutilation, or interception of the instruments in postal or courier transit. Masraf Al-Islamia does not accept or share any responsibility for the delay in realization of such instruments or for the genuineness, validity, or correctness of the signatures or endorsements thereon. The withdrawals against such instruments are permissible only on realization of proceeds by Masraf Al-Islamia. Any provisional credit allowed at the discretion of Masraf Al-Islamia for an instrument under collection is recoverable with interest if the instrument is returned unpaid. Masraf Al-Islamia has the right to disallow any drawings against such provisional credit (shadow balance).

The Member acknowledges that the Member will not derive ownership (or any other rights) over the funds mistakenly or erroneously credited to his/her Account and will not have any rights or claims whatsoever over such funds and is obliged to repay or return such funds forthwith on the Bank requiring the same.

Masraf Al-Islamia reserves the right, and the Member hereby authorizes Masraf Al-Islamia, to reverse any entries erroneously passed, with or without notice to/from the Member; and to debit/credit the Account to the extent required to correct any erroneous entries that may have been inadvertently made by Masraf Al-Islamia. Furthermore, the Member hereby provides his/her/their consent to the effect that, in the event of receipt of any claim by Masraf Al-Islamia, claiming erroneous/mistaken credit of funds into the Account, due to any reason, it shall be lawful for Masraf Al-Islamia to reverse such entry by debiting the Account and credit such claimant, subject to such safeguards and measures as Masraf Al-Islamia may deem necessary or appropriate provided, if such claim is made by:

A third party Bank, then the Bank shall be entitled to reverse such entry, under due intimation to the Member; or any person/corporate/other third party, then the Bank shall be entitled to reverse such entry after obtaining consent from the Member, and the Member shall not unreasonably withhold or unreasonably delay the consent. Local cheques, etc., may be tendered for collection sufficiently early in the day as required vis-a-vis the local clearing house timings. Withdrawals against clearing cheques will be normally permitted only against cleared balances as per applicable clearing house rules.

In cases where a cheque is returned, the amount in respect of which had already been credited to the Account and/or in respect of which withdrawal was permitted, Masraf Al-Islamia will reverse the credit of such amount and debit the amount equal to the amount of the returned cheque. In such cases, if the Account does not have sufficient funds, the outstanding amount shall be deemed to be a temporary overdraft granted to the Member and the Member is bound to repay the amount immediately on demand by the Bank. In debiting the amount as aforesaid, Masraf Al-Islamia would debit the amount credited or the INR amount equivalent to the relevant foreign currency denominated cheque, whichever is higher. The service charges and other charges as applicable will also be levied by Masraf Al-Islamia in such instances.

Charges in connection with the operation of the Account and the Services would be levied at the rates as prescribed on the Website from time to time. Charges will be debited from the Account at such intervals as may be deemed fit by Masraf Al-Islamia.

Masraf Al-Islamia will also have the right to set-off the Service charges, charges for non-maintenance of MAB or any wrong credit or late returns reported by the correspondent bank /counter party by debiting the Account, without requirement of providing further notice or seeking additional consent / authorization. In case the balance in the Account becomes overdrawn as a result of such set-off, Masraf Al-Islamia will be entitled to charge interest at such rates as Masraf Al-Islamia may deem fit in its sole discretion, for the period for which the Account remains overdrawn at any time during the maintenance of the Account. In case of any shortfall in the Account or in the event of the closure of the Account, the Member shall be liable to pay the amount outstanding on account of charges / interest or otherwise to Masraf Al-Islamia, forthwith, without demur or protest. Masraf Al-Islamia, at its sole discretion, may levy service charges for the facilities provided by Masraf Al-Islamia, in parts subject to the maximum limit/s as decided by the Bank from time to time.

The Member agrees and confirms that in the event any of the Services in connection with the Account are or become liable to tax under the applicable Laws and regulations, the Member shall bear all the taxes or duties (by whatever name called) in connection with such Services and Masraf Al-Islamia is hereby authorized to deduct any such amount from the Account, without the requirement of providing further notice or seeking additional consent/authorization.

The Member(s) authorizes the Bank to debit his/her/their Account for opening a fixed deposit /recurring deposit /applying for a feature-based debit card/any other applicable services obtained by me/us from the Bank through various channels.

The Member(s) agrees to abide by the Terms and Conditions for fixed deposit and Terms and Conditions for recurring deposit (as applicable) and other terms and conditions as applicable for the respective additional product/service opted by the Member(s) as available on the Website, including but not limited to the charges, interests applicable in relation to the fixed deposit /recurring deposit, charges applicable in case of premature withdrawal of a fixed deposit, insufficient balance in the case of a recurring deposit.

In the event of the occurrence of any of the above events, the Member shall receive balance amounts, net of all deductions made as per these Terms and Conditions. The Member shall be intimated at the last address provided by the Member and required to collect all such amounts from Masraf Al-Islamia; in case the Member does not collect the amounts within the time period stipulated by Masraf Al-Islamia in the communication sent to him/her as above, then Masraf Al-Islamia shall send the amounts at the last updated/registered communication address of the Member and will not be liable for any reason whatsoever in the case of non-receipt of such amount/s by the Member or any losses or damages incurred by the Member as a consequence thereof.

Masraf Al-Islamia reserves the right to waive or reduce the fees/charges and to withdraw any such benefit at any time without prior notice to the Member and without any liability to Masraf Al-Islamia.

Masraf Al-Islamia shall not be responsible for any loss of interest or liability incurred/suffered by the Member, including but not limited to the return of cheques, loss of interest arising due to such transactions not being shown on the day the same actually occurred.

The cheques / drafts / pay orders / other instruments deposited on any day which is a Sunday or public holiday or after the time of clearing for the day is normally effected by Masraf Al-Islamia shall be sent for clearing on the next business day of Masraf Al-Islamia.

Masraf Al-Islamia shall offer, free of cost, to individual Member(s) the option of availing a passbook or a monthly e-mail statement of the Account. In the case of Members other than individuals, a physical monthly statement/e-statement of Account shall be issued free of cost by Masraf Al-Islamia.

In addition to the aforesaid, the physical monthly statement of Account for the previous months shall be available to all Member(s) on request, free of cost, at any Masraf Al-Islamia branch. Member(s) shall also be able to view/download the statement of Account from the Website in relation to their Account(s) with Masraf Al-Islamia as per the process prescribed in this regard by Masraf Al-Islamia from time to time.

Unless disputed by the Member within fourteen (14) days of mailing of the statement of Account /posting of entries in the passbook of the Member, the same shall be deemed to be accepted by the Member. Masraf Al-Islamia reserves the right to rectify discrepancies in the statement of Account/passbook, if any, at any point in time. If the Member delays in examining the statement of Account/passbook or in reporting a problem or non-error, it may affect Masraf Al-Islamia’s ability to resolve the problem, and the Member shall be liable for the losses that may occur pursuant to the delay.

All the statements of Account will be mailed to the Member’s communication address / registered E-mail ID as per Masraf Al-Islamia’s records provided by the Member. Masraf Al-Islamia shall not be responsible for statements of Account lost in mail/post/undelivered. The Member shall be required to contact Masraf Al-Islamia promptly if the statement of Account is not received and request for a duplicate statement of Account if required. At the request of the Member, the statement of Account may be sent to the Member’s e-mail address. Members are required to verify the authenticity of the emails received by them, and Masraf Al-Islamia shall not be liable in the event any statement of Account is received by the Member from fraudulent persons/impostors. Masraf Al-Islamia shall not be liable in the event of any defects or failure in the computer system/network of the Member on account of receipt of email/s by the Member from Masraf Al-Islamia.

The statement of Account/s issued to Member(s) in the aforesaid manner shall be deemed to be an invoice/bill/challan issued by Masraf Al-Islamia with respect to the Account(s) of the Member(s) under the applicable law as amended from time to time.

Duplicate copies of the statement of Account shall be issued at the request of the Member for a fee, as intimated by Masraf Al-Islamia, from time to time. Ordinarily, duplicate copies of the statement of Account shall be issued only for a period not exceeding 36 months prior to the date of request.

Masraf Al-Islamia actively recommends that all Members avail the nomination facility. The nominee, in the event of the death of the Member(s), would receive the balance outstanding in the Account. Nomination facility is intended only for individual Account holders. This is also applicable to deposits having operating instructions “Either or Survivor.” It may be noted that in the case of a joint Account, the nominee’s right would arise only after the death of all the holders.

Masraf Al-Islamia may retain any and all funds in the Account until it establishes the identity and credentials of the successor(s) to its sole satisfaction, and Masraf Al-Islamia reserves the right to demand and inspect requisite documentation in this regard, including a succession certificate and/or a duly probated will. In case the Account is a joint account, the Member agrees that in the event of death, insolvency, or withdrawal of any one or more of the Account holders, the then surviving holders shall have full control of the monies then and thereafter standing to the credit of the Account and shall be entitled to withdraw the same and shall be fully liable for any liabilities that may arise by reason of their being holders of the Account and hold the same in trust for the other survivor/survivors/legal heirs of the deceased Member, provided there is no order from a competent court restraining Masraf Al-Islamia from making any payment from the Account of the deceased Member and/or there is any dispute among the survivor or survivors or legal heirs. Without prejudice to the foregoing, in the event of the death of a Member, Masraf Al-Islamia reserves the right to pursue all courses available to it under Law and equity at its discretion to recover any amounts that are payable to Masraf Al-Islamia, from the survivors/heirs/executors/administrators of the Member.

The Member undertakes and authorizes Masraf Al-Islamia, its group companies to exchange, share or part with all the information, data or documents and to make references and inquiries which Masraf Al-Islamia/its group companies consider necessary in respect of or in relation to his/her application/further applications to other Masraf Al-Islamia group companies/banks/financial institutions/credit bureaus/agencies/statutory bodies/tax authorities/central information bureaus/such other persons as Masraf Al-Islamia/its group companies may deem necessary or appropriate as may be required for the use or processing of the said information/data by such person/s or furnishing of the processed information/data/products thereof to other banks/financial institutions/credit providers/users registered with such persons/credit bureaus/agencies/statutory bodies/tax authorities/central information bureaus and shall not hold Masraf Al-Islamia/its group companies liable for the use of this information.

The Member agrees and confirms that the credit information bureaus and/or any other agency may use and process the said information and data disclosed by Masraf Al-Islamia to them, in the manner as deemed fit by credit information bureaus and/or any other agency. Further, the Member also confirms and permits the credit information bureaus and/or any other agency to furnish for consideration the processed information and data or product thereof prepared by them to the banks/financial institutions and/or any credit grantors or registered users as may be specified by the RBI in this behalf or any other applicable Law.

Data held by the Masraf Al-Islamia relating to Members will be kept confidential but the Masraf Al-Islamia may, at its sole discretion, provide such information to the categories of persons set out below. The Member and/or the borrower hereby irrevocably authorizes the Masraf Al-Islamia to disclose, as and when the Masraf Al-Islamia is required to do so by applicable Law or when the Masraf Al-Islamia regards such disclosure as necessary or expedient (including but not limited to disclosures for the purpose of credit review of any account or the facility of the Member and/or the borrower with the Masraf Al-Islamia or any Masraf Al-Islamia whether singly or jointly with others or otherwise), any information relating to the Member, his account(s) or other assets or credit facilities whatsoever held on the Member’s behalf to:-

the head office of Masraf Al-Islamia, any of its affiliates, group companies, subsidiaries or its holding company, branch offices in any jurisdiction or third parties (“Permitted Parties”) engaged by the Masraf Al-Islamia for any such services/operations including but not limited to centralize or outsource its data processing and other administrative operations;
the agents and independent contractors of the Permitted Parties who are under a duty of confidentiality to the Permitted Parties, have the same degree of confidentiality obligations as is agreed between the Permitted Parties and the Masraf Al-Islamia;
any actual or potential participant or sub-participant in, or assignee, novatee or transferee (or any agent or adviser of any of the foregoing);
any rating agency, insurer or insurance broker of, or direct or indirect provider of credit protection to any Permitted Party;
any court, tribunal, regulatory, supervisory, governmental or quasi-governmental authority with jurisdiction over the Permitted Parties.
auditors, professional advisers and any other person(s) under a duty of confidentiality to the Permitted Parties;
vendors, installers, maintainers or service providers of the Permitted Parties’ computer systems;
any exchange, market, or other authority or regulatory body having jurisdiction over the Permitted Parties, its head office or any other branch of the Permitted Parties or over any transactions effected by the Member or the borrower or for the Member’s or the borrower’s account including but not limited to NPCI, CKYC, UIDAI, RBI, Enforcement Directorate (“ED”), police authorities;
any party lawfully authorized by law to make such demand or request;
any person with whom the Masraf Al-Islamia contracts or proposes to contract with regard to the sale or transfer or sharing of any of its rights, obligations or risks under the Terms and Conditions;
any person (including any agent, contractor or third-party service provider) with whom the Masraf Al-Islamia contracts or proposes to contract with regard to the provision of Services in respect of the Member’s or the borrower’s account(s) or facilities (as the case may be) or in connection with the operation of the Masraf Al-Islamia’s business;
any person employed with or engaged as an agent by, the Masraf Al-Islamia or its head office or affiliates, including any relationship officers, whether in India or elsewhere, for the purposes of or in connection with interactions with the Members or providing Services to the Members or the borrower’s or processing transactions pertaining to the Members’ or the borrower’s Accounts or facilities;
in case of a wire transfer to the beneficiary bank to whom the transfer is being made. a drawee bank providing a copy of a paid cheque (which may contain information about the payee) to the drawee;
a person making payment into the Account (by providing a copy of a deposit confirmation slip which may contain the name of the Member);
credit reference agencies and, in the event of default, debt collection agencies;
any person to whom the Masraf Al-Islamia is under an obligation to make disclosure under the requirement of any law binding on the Masraf Al-Islamia or any of its branches.
The Member hereby irrevocably authorizes Masraf Al-Islamia to extract their call records or related information as may have been disclosed by us with/to any third-party service providers in relation to services/facilities offered to them by such third-party service providers on account of existing banking relationship with Masraf Al-Islamia.

From time to time, it will be necessary for Members to supply the Masraf Al-Islamia with data in connection with the opening or continuation of Accounts or the provision of banking facilities and services. Failure to supply such data may result in the Masraf Al-Islamia being unable to provide any of the above services or facilities. It is also the case that data is collected from Members in the ordinary course of the banking relationship, for example, when Members write cheques, deposit money, or apply for credit. This includes information obtained from credit reference agencies.

The purpose(s) for which Member data may be used are as follows:

the processing of applications for, and the daily operation of the services and credit facilities provided to Members;
conducting credit checks (including without limitation upon an application for consumer credit and upon periodic review of the credit) and data verification;
assisting other financial institutions to conduct credit checks and collect debts;
ensuring the ongoing creditworthiness of Members;
designing financial services or related products for Members’ use;
marketing financial services or related products to Members;
determining the amount of indebtedness owed to or by Members;
creating and maintaining the Masraf Al-Islamia’s credit and risk-related models;
collection of amounts outstanding from Members and bills providing security for Members’ obligations;
meeting the requirements to make disclosure under the requirements of any law, rule, regulation, order, ruling, judicial interpretation or directive (whether or not having the force of law) applicable to Masraf Al-Islamia and its agents and affiliates;
enabling an actual or proposed assignee of the Masraf Al-Islamia, or participant or sub-participant of the Masraf Al-Islamia’s rights in respect of the Member to evaluate the transaction intended to be the subject of the assignment, participation, or sub-participation;
any other purposes permitted by Law; and
For facilitating the processing of salary and other related services for the purpose of credit of salary to the customer’s salary account.
purposes relating to any of the above.
Any Member with an account or service with any branch of Masraf Al-Islamia located outside India hereby agrees to provide on a voluntary basis all his/her/their personal and account information and records to the Masraf Al-Islamia which, together with any information generated or received by the Masraf Al-Islamia, may be collected and kept by the Masraf Al-Islamia (including any agent or subcontractor appointed by the Masraf Al-Islamia) in any country (as the Masraf Al-Islamia may consider appropriate) for the purposes of the Masraf Al-Islamia maintaining its relationship with the Member and offering or providing services on accounts or investments made with or through the Masraf Al-Islamia or other future services or products used by the Masraf Al-Islamia to carry out matching procedures whether or not for the purpose of taking adverse action against the Member(s) or maintain a credit history (whether or not the relationship with the Masraf Al-Islamia is terminated) for the Masraf Al-Islamia’s present or future reference.

The Member and/or the borrower hereby agrees and consents that the Masraf Al-Islamia shall be entitled, in connection with the Member’s or the borrower’s application for any Account, facilities or Services provided by the Masraf Al-Islamia, or during the course of the Member’s or the borrower’s relationship with the Masraf Al-Islamia, to obtain and procure information pertaining to the Member or the borrower or any of his/her/its accounts, legal or financial position from whatever sources available to the Masraf Al-Islamia.

Data may be transferred overseas pursuant to the provisions of this clause.

The information disclosed pursuant to this clause may be subject to further disclosure by the recipient to other parties in accordance with the Laws of the country in which the recipient is located. Such laws may be wider in scope and implemented under less restrictive terms than would otherwise be the case in India due to the difference in applicable laws and regulations.

Masraf Al-Islamia shall have the absolute discretion to amend or supplement any of the Terms and Conditions at any time. Masraf Al-Islamia may communicate the amended Terms and Conditions by hosting the same on the Website or in any other manner as decided by Masraf Al-Islamia. The Member shall be responsible for regularly reviewing these Terms and Conditions, including amendments thereto, as may be posted on the Website.

Masraf Al-Islamia shall have the absolute discretion to amend or supplement any of the Terms and Conditions and/or terms and conditions/Schedule of Charges/Tariff Guides stipulated by Masraf Al-Islamia and/or its affiliates pertaining to the Accounts and/or to any services/facilities offered by Masraf Al-Islamia and/or its affiliates in relation to the Account at any time and shall give prior notice of one month (except for a change in interest rates) by hosting the same on the Website or in any other manner as decided by Masraf Al-Islamia. The Member shall be responsible for regularly reviewing these Terms and Conditions and the terms and conditions stipulated by Masraf Al-Islamia and/or its affiliates, including amendments thereto, as may be posted on the Website/notice board at the branches. Such amended Terms and Conditions and terms and conditions/Schedule of Charges/Tariff Guides stipulated by Masraf Al-Islamia and/or its affiliates will thereupon apply to and be binding on the Member at the expiry of one month from the date of notice.

If, in the opinion of the Member, the changes are to his/her disadvantage, the Member may opt to close the Account and/or stop using any services/facilities offered by Masraf Al-Islamia and/or its affiliates at any time in relation to the Account by intimating Masraf Al-Islamia of the same.

By continued usage of your Account and allied services, the Member shall be deemed to have accepted the changed Terms and Conditions and any new terms and conditions/Schedule of Charges/Tariff Guides stipulated by Masraf Al-Islamia and/or its affiliates.