Reg No. 1989/003295/06

Online Statement Services


Electronic Banking Agreement - Terms & Conditions

Version 1.0




1.         Conditions of access


The use of the Albaraka Bank Limited web site ("this site") is subject to the terms and conditions of use as set out below. It is important that the user reads and understands the terms of use applicable to the Albaraka Bank Limited web site.


2.         Acceptance


These terms and conditions of use become effective when the user accesses this site for the first time and constitute a binding agreement between Albaraka Bank Limited Registration number 1989/003295/06  (“Albaraka”) and the user.


3.         Information on this site

3.1.  The online facility allows a registered user to access his/her/its Banking Account/s held with Albaraka Bank.

3.2.  The information provided is intended to provide the user with Account and Transaction details of his/her/its Account/s held with Albaraka Bank.

3.3.  Transaction information will be updated at least once a day implying that transaction data may be at least 1 (one) day old.

3.4.  Any transactions performed during the day will not be updated on the same business day and may be updated by the start of the next business day.

3.5.  Albaraka Bank may provide additional financial information from time to time relating to the services and/or products of the bank. Such information may include projected values which are only estimates. Actual events or results may differ.

All information regarding the product and services including information in respect of the terms and conditions, rates of return or any other matters, is subject to change without notice.


4.         Services Online


Albaraka Bank’s online services are subject to registration and approval, which Albaraka Bank may accept or reject at its sole discretion.


5.         Amendments to these conditions


Albaraka Bank may amend these conditions from time to time without notification to the user. By accessing this site the user is bound to the version of the terms and conditions published at the time of any visit to this site. The user agrees to view the most current version available each time that this site is visited.


The current version of these terms and conditions will govern the respective rights and obligations of Albaraka Bank and the user each time the user accesses this site.


6.         Third parties links and services


Albaraka Bank may use the services of other third party organisations to provide information on this site. Albaraka Bank has no control over the third party information and makes no representations or warranties of any nature as to its accuracy, appropriateness or correctness. Albaraka Bank will not be directly or indirectly liable for any damages that may arise from the user's reliance on it or use of it via Albaraka Bank’s website.


6.1.  This site may contain certain images and links to other third party websites ("linked sites") with information and material produced by other parties. The linked sites are not under the control of Albaraka Bank and Albaraka Bank is not responsible for the content of any linked site, including without limitation any additional link contained in a linked site, or any changes or updates to a linked site.

6.2.  Albaraka Bank is not responsible for webcasting or any other form of transmission from linked sites.

Albaraka Bank provides certain links to the user only as a convenience, and the inclusion of any links does not imply endorsement by Albaraka Bank of the site, their business or security practices or any association with its operators


7.         Hyperlinks, deep linking, crawlers and metatags

7.1.  If any third party wishes to establish a hyperlink, frame, metatag or similar reference, whether electronically or otherwise (collectively referred to as linking), to this site, Albaraka Bank’s prior written consent is required. An application for linking must be submitted to

7.2.  Albaraka Bank’s consent may be disapproved, withheld or granted, subject to conditions specified by Albaraka Bank.

Breach of any of the terms and conditions contained herein both express or implied, entitles Albaraka Bank to take legal action without prior notice to the user, third party and/or associated entities. The user or third party and/or associated entities agree to reimburse Albaraka Bank the costs associated with such legal action on an attorney and client scale.


8.         Intellectual Property Rights

8.1.     This site contains copyright and other intellectual property including logos and other graphics and multimedia works belonging to Albaraka Bank.

8.2.     The user is authorised to view and download one copy of the site to a local hard drive or disk, print and make copies of such printouts, provided that:


8.2.1.     The material is used for considering use of the online services and for no other commercial purposes.  Any reproduction of our proprietary material from this site or portion of it must include Albaraka Bank’s copyright notice in its entirety.

8.2.2.     The logos and trademarks shown on this site are Albaraka Bank’s registered and unregistered trademarks, or that of third parties.

8.3.  Nothing on this site should be construed as granting any licence or right to use any trademark or intellectual property without Albaraka Bank’s prior written permission and/or that of third parties, as the case may be. The user may not, without Albaraka Bank’s prior written consent, use Albaraka Bank’s intellectual property or that of third parties for any purposes whatsoever.


9.         Sending of information

9.1.  Information transmitted through an unsecured link over the Internet, including e-mail, is subject to potential unlawful access or monitoring.

9.2.  The user accepts that Albaraka Bank cannot be held liable for any loss, or damage suffered by the user as a result of unlawful activities by individuals, organisations or third parties.


9.3.  In an attempt to reduce risk, Albaraka Bank may request independent verification of any information transmitted by the user via the site or e-mail from time to time, however, it is the sole responsibility of the user to ensure that adequate security and preventative measures have been taken when utilising these services.


10.      Warranties and representations


10.1.  All the information appearing on this site is provided without a representation or warranty whatsoever, whether expressed or implied, and Albaraka Bank disclaims any liability to the user in this regard.

10.2.  Albaraka Bank makes no representations or warranties regarding the accuracy, functionality and fitness for purpose or non-infringement in connection with this site and disclaims all liability in this regard.


Albaraka Bank does not warrant that the site or online services will be error-free and endeavours to take all reasonable steps to ensure correctness.


11.      Disclaimer and limitation of liability


11.1.  The user assumes full responsibility for the risk or loss resulting from the use of this site and the user's reliance on information contained on it.  Use of this site and the online services is entirely at the user's own risk.

11.2.   Albaraka Bank will not in any event be liable for any damages, whether direct, indirect, special, incidental, or consequential whatsoever relating to the user's use of this site or the online services or the information contained on this site or the user's inability to use this site or the online services, whether such damages arose out of contract, or dialect or otherwise and regardless of whether Albaraka Bank was expressly advised of the possibility of such loss or damage.


Without derogating from the generality of the above, and to the extent legally permitted, Albaraka Bank will not be liable for:

11.2.1.  Any interruption, malfunction, downtime, off-line situation or other failure of the site or  online services, Albaraka Bank’s system, databases or any of its components, beyond Albaraka Bank’s reasonable control;

11.2.2.  Any loss or damage with regard to the users data or other data directly or indirectly caused by malfunction of Albaraka Bank’s system, third party systems, power failures, unlawful access to or theft of data, computer viruses or destructive code on Albaraka Bank’s system or third party systems; programming defects;

11.2.3.  Any interruption, malfunction, downtime or other failure of goods or services provided by third parties, including, without limitation, third party systems such as the public switched telecommunication service providers; internet service providers, electricity suppliers, local authorities and certification authorities; or any event over which we have no direct control.


12.      Capacity to enter into agreements

12.1.  The user hereby warrants to Albaraka Bank that he/she/it has the required legal capacity to enter into and be bound by these terms and conditions.

12.2.  Minors must be assisted by their legal guardians when reading these terms and conditions.


13.      User's Liability to Albaraka Bank Limited


The user shall be liable to Albaraka Bank for any liabilities, losses or expenses incurred by Albaraka Bank as a result of any breach of these terms and conditions by the user.


14.      Termination, suspension and limitation

Albaraka Bank may:

14.1.  Set limits or conditions on the right to access certain services, features or functions on this site.

14.2.  Restrict access to parts of or all of the services on the site; and

14.3.  Modify, suspend or discontinue this site, whether temporarily or permanently, without notice


15.      Customer Communications

The user acknowledges that Albaraka Bank will primarily use e-mail and electronic notices on this site, as Albaraka Bank’s main communication tool for all communications relating to this site, or these terms and condition. Such communications may include the use of sms (short message services), registered mail or telephonic advice.

An e-mail message will be deemed to be sent:

·       By the user, at the time at which Albaraka Bank is capable of accessing such message;

·       By Albaraka Bank, at the time displayed on the message as having been sent, or if not so displayed, at the time displayed on Albaraka Bank’s computer system as having been sent.

An e-mail message is deemed to be received:

·       By the Subscriber five days after it has been sent by the Bank;

·       By Albaraka Bank, once Albaraka Bank has confirmed receipt thereof to the user, or responded thereto, whichever is the earlier.

A message shall be attributed:

·       To the user, if it purports to have originated from the user, irrespective of the fact that someone else may have impersonated the user or whether the message sent to Albaraka Bank resulted from an error or malfunction in the communication system;

·       To Albaraka Bank, if a duly authorised representative has sent it and such representative acted within the scope of such authority or by an automated system programmed by Albaraka Bank and such system operated without error or malfunction.

Unless otherwise provided for in these terms and conditions confirmation of receipt of your message is required to give legal effect to such message.


16.      PIN and Services


16.1.  Once the client has registered using the online facility, Albaraka Bank will contact the client authenticating registration by verifying the client’s details.

16.2.  Once Albaraka Bank has approved the application, the client will be provided with a PIN in order to use the services.  The PIN needs to be collected from Albaraka Bank and upon producing positive identification, the client will be issued with the PIN.

16.3.  Albaraka Bank may offer new services from time to time and reserves the right to modify, replace or discontinue any existing service without prior notice to the client.

16.4.  The client shall acquaint itself with the functionality of the service and how they are to be used and, if needed, enlist the assistance of Albaraka Bank.

16.5.  The client shall acquaint itself with and follow the security procedures communicated by Albaraka Bank from time to time as well as such other procedures as may be applicable to the services and specifically those that may be displayed on Albaraka Bank’s internet website.

16.6.  The client acknowledges that any failure on the part of the client to follow the recommended security procedures may result in a breach of the confidentiality of the client’s confidential information and may lead to unauthorised access to the account.

16.7.  The client must ensure that nobody other than the client in person is permitted to use the services to which the client has subscribed.  In the event that the client is a business, it shall ensure that only authorised employees have access to and are allowed to use the services.

16.8.  The client must ensure the safekeeping and confidentiality of all confidential information, and shall particularly ensure that the confidential information is not written down and kept where it can easily be discovered.

16.9.  The client must notify Albaraka Bank immediately upon reasonably becoming aware or suspecting that confidential information has been lost or forgotten or may have fallen into the hands of an unauthorised person.

16.10.   The client shall not cede or assign any of its rights under this agreement without the prior written consent of Albaraka Bank.

16.11.   The client shall not operate or use the service in any manner that may be prejudicial to Albaraka Bank.


17.      Certificate


A certificate signed by Albaraka Bank will constitute sufficient proof of the operation or functionality of the online services or any part thereof and the contents of any information displayed on the site on a given date, and will be regarded as correct unless the user proves the contrary.


18.      Applicable law and jurisdiction


The terms and conditions pertaining to any products or services appearing on this site or pages shall be governed and interpreted in accordance with the laws of the Republic of South Africa and application for any of the products or services offered on this site or pages will constitute the users consent and submission to the jurisdiction of the South African courts regarding all proceedings, transactions, applications or the like instituted by either party against the other, arising from any of the terms and conditions pertaining to this site or such products or services.


19.      General provisions

19.1.  The headings of the clauses in the conditions is provided for convenience and ease of reference only and will not be used to interpret, modify or amplify the terms of the conditions.

19.2.  Where any dates or times need to be calculated in terms of the conditions, the international standard time: GMT plus two hours shall be used.

19.3.  No failure or delay by Albaraka Bank to exercise any of Albaraka Bank’s rights will be construed as a waiver of any such right, whether this is done expressly or implied, nor will it affect the validity of any part these terms and conditions or prejudice Albaraka Bank’s right to take subsequent action against the user.


If any of these terms and conditions is proved to be invalid, unlawful or unenforceable, the term or condition will be deleted from the remaining terms and conditions that will continue to be valid to the full extent permitted by law.