These terms and conditions (“Digital Account Terms and Conditions”) governs the use of digital accounts made available by Sharjah Islamic Bank.

Eligibility

A Digital Account may be opened by any adult individual who is a citizen or resident of the UAE subject to the controls, rules and instructions of the Central Bank of the UAE.

Digital Account

Drawings from the Digital Account shall be made through cheques issued by the Bank, written instructions or ATM Card. Depositing in the account shall be accepted at all bank branches in cash, by cheques drawn on bank’s branches or Local banks, or through the bank’s ATMs only. Transfers between accounts are also permitted.

The Bank shall have the right to refuse to pay any payment orders or cheques written on forms other than the bank’s forms, without any responsibility whatsoever on the Bank’s part.

The Customer has to write the cheques in Arabic or English language. The Bank shall not accept cheques written in other languages.

The Bank shall have the right to honor the value of cheque or other negotiable instruments drawn on the customer’s Digital Account, and the customer undertakes to pay all the due amounts in their account.

The Bank shall have the right to refuse to pay the value of the cheques, drawings and payment orders on the account if the balance is insufficient, even if the customer has credit balance in any other accounts with the bank, unless the customer authorizes the bank in writing to cover the amount of cheques, or any other withdrawals from any of his/her current or Digital accounts with the bank.

The Customer shall take care of the cheque book, and shall bear full responsibility of it. Cheques should not be given to others to use, and the bank should be notified immediately upon the loss or theft of cheque book, otherwise the customer shall bear the consequences in case of misuse.

The Bank should be notified immediately upon the loss or theft of the ATM Card. The Customer shall bear any consequences occurring in the period from the time of loss or theft and until the bank is officially notified.

The Bank has the right to refuse issuing a cheque book to the customer, without giving any reason.

According to the instructions of the UAE Central Bank, the customer’s account may be closed and added to the blacklist in case 4 cheques returned unpaid within one year due to insufficient balance.

Digital accounts are subject to the minimum balance decided by the management of the bank. The Bank may issue a cheque book to Digital accounts holders, and the customer can issue payment orders or written cheques on this account. ATM card will be issued to the statement account holders to enable them to utilize the ATM services.

The investment period in Digital accounts is one Gregorian month commencing from the 1st day of the month with auto renewal unless the balance is withdrawn whether in whole or in part at any time. In such case, the Customer shall be entitled to the profits for the period prior to the withdrawal date, and will not earn profits of the month where the whole balance was drawn.

Profits of digital account shall be credited to the same account on the last day of the month, unless the customer requests otherwise, and authorizes the Bank to invest the realized profits since the credit date with the same investments terms and conditions of Digital accounts.

The Bank as a Mudharib according to the unrestricted Mudharaba provisions will invest the funds of the Digital accounts based on the minimum monthly balance available in the account. Please review the Terms & Conditions of Mudharaba Savings Account.

Card Terms & Conditions

The Card is and will remain the property of the Bank at all times and must be returned to the Bank immediately upon request.

The Card is issued entirely at the risk of the Account holder and the Bank shall bear no liability whatsoever for any loss or damage arising from its issuance howsoever caused, unless attributable to the Bank.

Using the Card for any transaction shall be at the sole risk of the Cardholder and the Cardholder accepts to bear any and all risks whether incidental to or arising out from using the Card.

The Card is issued for use at ATM, POS Terminals or any Card operated machine or device whether belonging to the Bank or other participating banks or financial institutions where the logos appearing on the Card are displayed/accepted.

The Card is issued on the basis that all Card transactions initiated with the use of the Card will be debited to the Customer’s Account with the Bank. The Card may not be used to obtain credit of any description on its own basis.

It is the Account holder’s responsibility to ensure that sufficient balance is available in the Customer’s Account prior to entering into any Card Transaction. If, for any reason whatsoever, the Customer’s Account is debited in excess of the available funds by use of the Card or towards any fees or Charges, the Account holder shall be responsible for immediately meeting any such shortfall. In the event of the Account holder failed to comply with this condition, the Bank reserves the right to cancel the Card and/or debit any outstanding amount on behalf of the Account holder from any other Account maintained by the Account holder with the Bank.

The Card will be delivered by courier to the address provided at the cardholder’s risk, or collected personally at the Bank’s Branch as specified in the Debit Card issuance application or decided by the bank. The Account holder will be required to provide any of the acceptable means of personal identification as determined by the Bank from time to time regardless of the delivery method.

Upon receipt of the Card, the Account holder shall immediately sign on the reverse side of the Card to validate it. The Card will be activated by the bank based on the application signed by the customer, or by the Account holder using the Bank’s Phone Banking service through automated service or speaking to an agent before it can be used.

In the event the Account holder does not wish to be bound by these Terms and Conditions governing the Card, the Account holder shall cut the Card in half and return both halves to the Bank.

The Card is not transferable and must be used exclusively by the Cardholder. Regardless of any circumstances whatsoever, the Cardholder may not allow the Card and/or PIN to be used by any other individual and will not pledge the Card as security for any purpose. The Cardholder agrees to indemnify the Bank on demand for any consequences whatsoever that accrue from a default by the Account holder under the provisions of this sub-clause.

The Cardholder shall, at all times, ensure that the Card and PIN are kept in safe custody. The Cardholder should not, under any circumstances whatsoever, disclose the PIN to any other person. The Cardholder must exercise all reasonable care to ensure the security of the Card in order to prevent any misuse, and undertakes to act in good faith at all times in relation to any dealings pertaining to the Card with the Bank.

The Card used for Card Transactions up to the Default Limit allocated on the Card and within the validity period embossed/indented on its face. Notwithstanding the fact that the Cardholder’s Default limit has not been exhausted,  The Bank may, at its discretion, restrict or suspend the use of the card in circumstances including but not limited to regulatory requirements, suspicion of fraud or misuse, system-related issues, security risks, or any event that may expose the Bank or the Cardholder to financial or legal risk. Wherever reasonably practicable, the bank will notify the Cardholder.

The Cardholder shall immediately notify the Bank via the Phone Banking Services number, of any loss, damage or theft of the Card. If a Cardholder loses or damages the Card or requests for the renewal, replacement, or an additional Card, the Bank shall have the right, at its discretion, to issue such Card. A new PIN shall be generated by the cardholder through the Bank phone banking system whenever the Bank issues a new Card or a replacement Card. The Bank is authorized to debit the Customer’s Account with all expenses incurred in processing of such Card Transactions, fees and charges relating to the issuance, re-issuance, replacement of the Card and any other charges in connection with its use.

The Card may be used locally and internationally at Merchants’ Establishments, ATMs and POS Terminals, where the logos appearing on the Card are displayed/accepted, for making purchases, cash withdrawals, balance enquiries and other services as offered by the Bank to the Cardholder from time to time. The Bank shall debit the Customer’s Account for any such cash withdrawals and purchase of goods and services using the Card. Foreign currency transactions will be converted into AED on spot at the exchange rate determined at the date of transaction settlement (prevailing as on the date of transaction) with an a appropriate commission/fees charged on the transaction amount.

The Cardholder may use the Card for cash withdrawals, purchase of goods and services and other financial services, subject to availability of adequate funds in the Customer’s Account. If the Customer’s Account has insufficient funds to cover the amount of an authorization request, the Bank shall be entitled to decline the requested transaction.

When the Card is used at any ATM of the Bank or any other bank or institution with which the Bank has an agreement for the use of the ATM, the amount of each withdrawal will be subject to the applicable withdrawal and purchase limit set for the particular ATM by such bank or institution, and if the Card is used at any ATM belonging to any other Bank or institution, the amount of each withdrawal shall be subject to additional switch charges.

Each Card transaction attempted or made with the Card shall be subject to approval of the Bank. The Bank reserves the right to approve or decline any Card Transaction and will take into account all previous payments that have been authorized, made or agreed to be made from the Account, whether or not such payments have actually been deducted from the Customer’s Account. Transaction approval will be based on the funds available in the Account and will be declined if sufficient funds are not available in the Account.

The Bank may also refuse to approve a Card Transaction if for any reason whatsoever, it believes that the Card or Customer’s Account is being misused or where the Bank suspects fraudulent use of the Card. As part of fraud prevention procedures, the Bank may contact the Cardholder via phone/sms or refer an approval request to the Merchant, requesting further details about the Cardholder or additional proof of the Cardholder’s identification. The Bank will not request the Cardholder to disclose his/her PIN to a Merchant or to any other party, including its employees. Any such request should be rejected by the Cardholder, who shall immediately report such attempt to the Bank.

The Cardholder acknowledges that the available balance in the Customer’s Account may differ from the balance shown on the statement, due to the Card transactions or other holds on the Customer’s Account.

The Bank shall not be responsible for the Card being rejected at any ATM or POS Terminal for any reason. The Bank shall not be liable, responsible or accountable in any way whatsoever for any and all actions, proceedings, costs, and losses or damages (including legal costs) howsoever arising or caused by any mechanical defect or insufficiency of funds or malfunctions of any such ATM ‘s or POS Terminals, unless attributable to the Bank.

The Account holder agrees to fully indemnify the Bank and hold the Bank harmless against any and all actions, proceedings, actual costs, actual losses or actual damages (including legal costs) it may incur in connection with the usage or misuse of the Card, PIN and/or other facilities provided to the Card. The Bank issues the Card on the Customer’s Account to the individual and Joint Accountholder(s) as applied for in the Debit Card Application.

The Bank reserves the rights to change/adjust/cancel any of the terms and conditions governing the relationship of the ‎card product with prior notice of 60 days except where adheres to CBUAE or International regulations is required. ‎Continued use of the Card following the effective date of any such changes shall constitute the Cardholder’s acceptance ‎of the revised terms. Continued use of the Card following the effective date of any such changes shall constitute the ‎Cardholder’s acceptance of the revised terms.‎

The Cardholder confirms being aware that the Card facilities provided are subject to the Bank’s schedule of fees and charges which may be revised from time to time by the Bank on giving prior written notice of 60 days through SMS or emails of such change.

The Bank is committed to full transparency in terms of how the personal data is handled and shared and how it is protecting the privacy and ensuring that the personal data is secure. Please check our Privacy Policy at www.sib.ae/en/privacy-policy , which sets out the type of information we collect, and how we use, collect, and process the personal data.

The Bank reserves the right to change the Terms & Conditions anytime, with a 60 days’ notice as applied by the Bank

Non-compliance with the Bank's Terms & Conditions can lead to account closure

These Terms and Conditions shall be governed, construed, defined as to the scope of its application, and supplemented, as for the terms & conditions not mentioned therein in accordance with the provisions of the Islamic Sharia’a and the Articles of Association of the bank as well as the laws in force in the UAE Central Bank and the established custom practices not conflicting therewith.