Terms of Use
Legal terms and conditions for using Midan Financial services
Last Updated: January 2025 | Effective Date: January 1, 2025
Important Notice
By accessing and using this website and our services, you agree to be bound by these Terms of Use. Please read them carefully before proceeding.
These Terms of Use ("Terms") constitute a legally binding agreement between you and Midan Financial ("Bank," "we," "us," or "our") regarding your use of our website, mobile applications, and banking services.
By accessing our website, opening an account, or using any of our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and all applicable laws and regulations.
Key Points:
- These Terms apply to all users of our services
- We may update these Terms from time to time
- Continued use constitutes acceptance of changes
- You must be 18 years or older to use our services
Available Services
Personal Banking
- • Checking and Savings Accounts
- • Multi-Currency Accounts
- • Investment Services
- • Wealth Management
Business Banking
- • Business Accounts
- • Commercial Lending
- • Trade Finance
- • Treasury Services
Service Availability
Services are subject to eligibility requirements, credit approval, and regulatory compliance. We reserve the right to modify, suspend, or discontinue any service at any time.
Note: Some services may not be available in all jurisdictions. Please contact us to confirm service availability in your location.
Account Opening
- You must provide accurate and complete information
- Identity verification is required for all accounts
- Minimum deposit requirements may apply
- We reserve the right to refuse account opening
Account Maintenance
Your Responsibilities
- • Keep account information current
- • Protect account credentials
- • Monitor account activity
- • Report unauthorized transactions
Our Responsibilities
- • Maintain account security
- • Process transactions accurately
- • Provide account statements
- • Comply with regulations
Fees and Charges
Account fees, transaction charges, and service fees are outlined in our Fee Schedule, which is incorporated into these Terms by reference.
Security Obligations
- Maintain confidentiality of login credentials
- Use strong, unique passwords
- Log out of online banking sessions
- Report security breaches immediately
- Keep contact information updated
Compliance Requirements
- Comply with all applicable laws
- Provide accurate information
- Report changes in circumstances
- Cooperate with regulatory requests
- Use services for legitimate purposes only
The following activities are strictly prohibited when using our services:
Financial Crimes
- • Money laundering
- • Terrorist financing
- • Fraud or misrepresentation
- • Tax evasion
System Abuse
- • Unauthorized access attempts
- • Malware or virus transmission
- • System interference
- • Data mining or scraping
Consequences
Violation of these prohibitions may result in account closure, legal action, and reporting to relevant authorities.
To the maximum extent permitted by law, Midan Financial's liability is limited as follows:
Disclaimer of Warranties
Services are provided "as is" without warranties of any kind, express or implied.
Limitation of Damages
We shall not be liable for indirect, incidental, or consequential damages.
Maximum Liability
Our total liability shall not exceed the amount of fees paid by you in the preceding 12 months.
Governing Law
These Terms are governed by the laws of the United Arab Emirates and the Dubai International Financial Centre (DIFC).
Dispute Resolution
Any disputes arising from these Terms shall be resolved through:
- Good faith negotiation
- Mediation (if negotiation fails)
- Arbitration under DIFC-LCIA rules
Legal Department
Email: legal@midanfinancial.com
Phone: +971-4-123-4567
Address: Dubai International Financial Centre
Dubai, UAE
Questions About Terms
If you have questions about these Terms of Use, please contact our legal team. We're here to help clarify any provisions.