1. General Provisions
    • These terms and conditions (“Terms and Conditions”, or “T&Cs”) govern your access and use of the Sharaf Exchange L.L.C.(“Sharaf Exchange”, “We”, “Our”, “Us”) Mobile Application for the purpose of transferring (remitting) money (the “Service“).
    • As a user of the Services, you (“You”, or the “Client” or the “Consumer”) acknowledge that the English version of these Terms & Conditions is the authoritative version. Any translations that might be provided would be for convenience only. Disputes or claims arising from these Terms & Conditions shall be resolved in accordance with the English version.
    • By accessing or using the Service, you agree to comply with these Terms & Conditions. If you do not agree with these Terms & Conditions, you must not use the Service.
    • Sharaf Exchange reserves the right to modify these Terms & Conditions at any time. Changes will be effective immediately upon posting the updated Terms & Conditions on the Mobile Application or our Website.
  2. Definitions
    • Application Security: Application Security refers to the use of the Mobile Application provided by Sharaf Exchange to be used in a secure and safe manner using the correct credentials and/or the combination of other One-Time-PIN (OTP) or passcodes.
    • Beneficiary: The person receiving the funds through the Service.
    • Central Bank of the UAE (CBUAE): The Central Bank of the UAE (CBUAE) is the regulatory authority responsible for overseeing and regulating financial institutions within the United Arab Emirates (UAE). It ensures compliance with Financial Regulations, including Anti-Money Laundering (AML), Counter-Terrorism Financing (CFT), and other regulatory requirements. The Central Bank of the UAE (CBUAE) sets standards and guidelines to maintain financial stability, protect consumers, and prevent financial crimes.
    • Device: Refers to the device on which the Mobile Application is loaded on, for example a smartphone or a tablet.
    • EDD: Has the meaning given to it in paragraph 3.5.8.
    • Electronic Records: means acceptance screens, disclosures, audit trails, logs, time‑stamps, IP/device identifiers, and transaction data generated by the Service. Electronic Records maintained by Sharaf Exchange are admissible and constitute prima facie evidence of the content, timing, and authorization of your instructions and transactions. We may rely on them and act without any additional wet‑ink signature. You bear the burden of proving any manifest error.
    • Fees: Refers to service charges associated with using the Service, which will be displayed to you before you confirm your transaction.
    • Force Majeure Event: Circumstances beyond our control that prevent us from fulfilling our obligations, including natural disasters, terrorism, war, civil unrest, labour strikes, and technical failures.
    • Malicious Code: Refers to harmful software, including viruses, Trojans, and other destructive programs.
    • Materials: Has the meaning given to it in paragraph 12.4.
    • Mobile Application: Refers to the application provided by Sharaf Exchange designed for facilitating money transfer/remittance services.
    • Payment Gateway: Refers to a service that facilitates the transfer of payment information from a customer to a merchant, acting as a secure, encrypted bridge between the customer’s payment method (like a credit card) and the merchant’s bank for online and in-person transactions. It performs the digital equivalent of a Point-of-Sale device, authorizing and processing payments to determine if they are successful, thereby enabling businesses to accept digital payments.
    • Prohibited Purpose: Refers to activities that are illegal under the laws and regulations of the United Arab Emirates and the destination country of the Fund Transfer. This includes, but is not limited to Money Laundering, Terrorism Financing, Fraud, Tax Evasion, Bribery and Corruption, Violation of Sanctions, and other fraudulent activities.
    • Reference Number: A unique transaction number issued upon transaction initiation.
    • Regulations: Refers to the applicable laws and regulations of the United Arab Emirates and the destination country of the fund transfer.
    • Sender: The individual initiating the money transfer.
    • Transaction: Any money transfer initiated by you using the Service.
  3. Responsibilities and Obligations
    • Your responsibilities and obligations
      • You must be at least 21 years old and hold a valid Emirates ID to use the Service.
      • You are responsible for paying the total amount including any applicable charges associated with your use of the Service.
      • You must comply with these Terms & Conditions, and all applicable regulations.
      • You agree to:
    • Provide accurate, complete, and current information.
    • Supply necessary documentation for compliance with legal requirements.
    • Update your information when needed.
    • Not use the Service for prohibited purposes.
    • Not attempt to compromise Application Security.
    • Maintain only one registered user account.
    • Send money only to known beneficiaries for legitimate purposes.
      • You understand and accept that:
    • We are legally obligated to retain customer information and Transaction data for up to five (5) years, or as required by the CBUAE
    • Currency conversions will use our prevailing exchange rate. Rates are subject to change without notice but are final once applied on your transaction.
    • Transfer limits and additional charges may apply based on destination country.
    • The Customer agrees to take all reasonable steps to protect their personal information and security credentials. Sharaf Exchange is not responsible for any loss or damage resulting from unauthorized access to the Customer’s profile or Digital Channels due to the Customer’s failure to safeguard their personal information. The Customer agrees to indemnify the Exchange House for any losses, costs, or damages that arise if such information is compromised and misused by fraudsters or third parties.
    • You must report any discrepancy(ies) or issue with Transactions within 14 days.
    • It is your responsibility to inform the Beneficiary about the information he/she will need to provide in order to collect the money you transfer (in cases of Cash pickup) through the Service (such as photographic identification, the exact amount of remittance, the Transaction Reference Number, etc).
    • In case of flagged transactions or accounts under regulatory investigation, data may be retained beyond five (5) years as required by law or upon request by competent authorities.
    • Sharaf Exchange may request additional information or documents at any stage (pre- or post-transaction) for the purpose of enhanced due diligence (“EDD”), risk mitigation, or in compliance with a regulatory directive. Failure to provide such documents may result in transaction delays, suspension of account access, or termination of services.
      • Sharaf Exchange responsibilities and obligations
        • As well as complying with these terms and conditions, Sharaf Exchange:
      • We can provide further assistance and guidance to Customers who are people of determination or other vulnerable customers (and/or their authorised assistants), including alternative formats and support. In such a case, please kindly contact us.
      • If you have any complaint about the Card or our associated services, then you can contact us accordingly.
      • Foreign exchange rates are subject to variation and the rate that applies one day will not necessarily be the same on any other day. These shall be published in the Mobile Application accordingly.
        • We shall provide, (and in respect of transactions requiring foreign exchange (upon request in writing as applicable)):
      • the buy and sell exchange rates, and all applicable fees;
      • the exchange rate, the difference between buy and sell rates, and all fees;
      • prior to a remittance, the estimated amount to be received by the beneficiary, possible additional correspondent/receiving bank fees, and explain that the amount may be subject to further costs;
      • estimated time for funds to reach the beneficiary and a warning that delays may occur;
      • clear information on procedures for transaction cancellation, including the time frame for cancellation, refund exchange rate policy, and any associated costs;
      • an official receipt for every transaction that includes: legal name and contact details of the branch, date and time, product name, serial number, currencies tendered and issued, exchange rate applied, all fees (including correspondent bank charges), and complaint contact details;
      • the terms and conditions for cancellation, refund, amendment, and the maximum period for lodging a complaint;
      • low-cost remittance options if available and where possible we shall avoid excessive fees that may limit use by low-income consumers;
      • information on how to file a complaint, including contact details, available channels, and expected response time;
      • notification in writing within 24 hours if your account or funds are blocked, including the reason and contact information (where applicable);
      • the method of calculation for interest/profit, allocation of payments, and the impact of variable rates (for credit products, if offered);
      • the process and timeline for handling unclaimed funds and the consumer’s rights regarding such funds;
      • annual or periodic consumer education and awareness information, including the availability of educational resources; and
      • information on any changes to fees, terms, or product features in advance.
        • Further, you shall have a right to choose from at least three insurance/takaful providers if insurance is mandatory for a product.
  1. Fees and Payment Methods
    • Fees are subject to change but will not affect transactions for which confirmation has already been issued.
    • Additional charges may apply based on your payment method and this will be displayed wherever applicable.
    • We are not liable for additional fees charged by receiving banks or partners.
    • Promotions or discounts are subject to their specific terms and conditions.
    • Customers can only pay in using their bank account as per the instructions shown in the mobile application at the time of paying-in for the transaction.
  2. Cancellations, Refunds, and Amendments
    • Transactions marked as “under processing” may be cancellable via the Mobile App.
    • Cancellations and refunds shall be at our discretion and will depend on whether the funds can be recalled. Refunds for cancelled or unpaid transfers will be given at the rate set by Sharaf Exchange, excluding sending charges, VAT, beneficiary bank deductions, cancellation fees, and other applicable expenses. A refund requires confirmation of non-payment and cancellation from our correspondent bank or agent. The sender must submit a written request at the branch to start the cancellation process. Refunds will be issued through the original payment method or any other method chosen by Sharaf Exchange at its discretion.
    • Processing of cancellations and refunds may take up to 14 business days.
    • Additional charges may apply for cancellations and refunds.
    • Refunds will be processed at the prevailing rate or the transaction rate, whichever is lower.
    • Amendments or re-issuance of transactions are subject to applicable charges and rate differences.
  3. Confidentiality and Privacy
    • As a regulated institution under the CBUAE, we are required to collect and verify customer information.
    • Personal data will be handled in accordance with UAE Personal Data Protection Law (“PDPL”) and any other applicable legislation.
    • Customer information is confidential, except where disclosure is required by law or for regulatory compliance, or to prevent crime.
    • You acknowledge and agree that Sharaf Exchange may use automated systems and machine-learning algorithms to monitor transactions and user behaviour for compliance purposes.
    • These systems may assess transaction patterns, customer risk ratings, and detect potential sanctions violations or suspicious activity. Where needed, transactions may be escalated for manual review or reported to authorities in line with AML obligations.
    • Please review the dedicated Privacy Policy in this Mobile Application for further detail on confidentiality, privacy and data usage.
  4. AML/CFT Compliance
    • By using the Service, you agree that all transactions are subject to verification and monitoring in accordance with the UAE’s AML/CFT laws and regulations, including Federal Decree Law No. (20) of 2018 and the directives issued by the CBUAE.
    • You understand that Sharaf Exchange may delay, suspend, block, refuse to process, decline, or reverse any transaction that is suspected to be inconsistent with applicable AML/CFT laws, involves or is suspected of involving money laundering, terrorist financing, fraud, or other financial crimes, or is in violation of internal compliance controls. In such cases, no refunds shall be due unless permitted by the relevant authorities.
    • We may report such activity to the UAE Financial Intelligence Unit (FIU) and other relevant authorities without notice or liability.
  5. Force Majeure Event
    • We shall not be liable for any failure to perform our obligations under these Terms & Conditions if such failure results from a Force Majeure Event.
    • We shall not be liable for any loss, damage, or inconvenience caused by a Force Majeure Event. This includes any delays or failures in the performance of the Service due to such events.
    • We will resume performance of our obligations as soon as reasonably possible after the Force Majeure Event is resolved.
  6. Complaints, Feedback, or Suggestions
    • For complaints, feedback, or suggestions, contact us via:
      • Email: customercare@sharafexchange.com
      • Telephone (UAE): 600 54 0002
      • Telephone (Outside UAE): +97143554560
  1. Updates to These Terms and Conditions

We may update the Terms & Conditions as necessary. Changes in the Terms & Conditions shall be under immediate effect once published on our Website or our Mobile Application. We will notify you when the revised Terms & Conditions is published through various channels such as in-app notifications, push notifications or email.

  1. Communication and Notices
    • You consent to the use of electronic signatures and records. Your in‑app acceptance (including clicks/taps, OTP entry, biometric confirmation, or other electronic actions) constitutes your valid signature and a written, legally binding agreement.
    • We may communicate with you in English or Arabic (where applicable) using email, SMS, in-app notifications, telephone, or through our official website (www.sharafexchange.ae). You are responsible for keeping your contact details, including email and mobile number, up to date.
    • You agree that electronic communications shall be legally binding and treated as written communication for all contractual purposes. We may record and store any communications with you, including phone calls and electronic messages, for quality, compliance, and evidentiary purposes.
    • Some communications may need to be in writing as required by law. You agree to receive such communications via email and accept that electronic communications are valid for contractual purposes.
  2. Liability and Intellectual Property
    • Liability
      • You acknowledge and agree that the availability and proper functioning of the Services are dependent on many variable circumstances, including location, mobile network availability, Payment Gateway and signal strength, proper functioning of hardware, software and the device, and Sharaf Exchange shall not be liable for any loss or damage that may result directly or indirectly from any unavailability or improper functioning of the Service for any reason.
      • Sharaf Exchange assumes no liability whatsoever to the maximum extent of any applicable law for any monetary or other damage suffered by the user on account of:
    • The delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Payment Gateway or services in connection thereto; and/ or
    • Any interruption or errors in the operation of the Payment Gateway.
      • You understand that in the event of loss of Your Device and/or SIM Card or when others get possession of it, it can be misused. Accordingly, You agree to indemnify Sharaf Exchange for any such misuse arising out of the same. You shall not hold Sharaf Exchange responsible for any losses it may incur arising from it.
      • If You open additional accounts or subscribe to any of Sharaf Exchange’s or its affiliates’ products, services and Sharaf Exchange extends the Services to such Accounts, products or services and You opt to apply for the services, then the T&C’s of respective product or services shall automatically apply to such further use of the Services.
      • Sharaf Exchange abides to the requirements under Anti-Money Laundering and Counter-Terrorism Financing regulations currently in force. In meeting these requirements, we would provide details of your Transactions to the regulatory authorities as per their guidelines. For this purpose and the business requirements of Sharaf Exchange, you agree to provide true, accurate, complete and current information and documents to Sharaf Exchange. You shall indemnify Sharaf Exchange for any loss caused to Sharaf Exchange due to your provision of such untrue, inaccurate, incomplete or not current information and Sharaf Exchange will not be responsible for any damages, losses or claims made against them.
      • Other Services. Other products & services made available from time to time by Sharaf Exchange may be accessed by user based on subscription.
      • You accept that there are risks when using internet as a reliable means of communication and should You decide to communicate and use any of Services through the Mobile Application, You should do that entirely at Your own risk and without any liability from Sharaf Exchange.
      • The accuracy and correctness of all information and details transmitted through Sharaf Exchange’s services are the responsibility of You and You accept that all Transactions and Instructions requested will be processed without the need of any further reference, written notice or verification from Sharaf Exchange’s side.
      • Once You submit and confirm an Instruction or a transaction, Sharaf Exchange shall be under no obligation to accept any amendment or cancellation afterwards.
      • You can add a beneficiary for Transactions or payment through the Services and You accept that Sharaf Exchange will not be liable for any delay or non-payment if it was caused by an error on the details of the beneficiary or failure to identify the beneficiary or delay or failure to act by the receiving party.
      • Sharaf Exchange does not represent or warrant that the Mobile Applciation will be (a) available to meet the requirements; (b) uninterrupted and no delays; (c) free from failures, errors or omissions or loss of transmitted information; or (d) free from viruses or other contaminating or destructive properties that can damage Your phone operating system.
      • You accept that Sharaf Exchange will not be liable to You or any other person for any negligence, breach, misrepresentation, claim, delay, expenses, damages or any other liability including legal costs, any loss however caused and irrespective of whether any claim is based on law of torts, the loss of profit, business revenue, investment, goodwill, interruption of business or anticipated savings or loss of data which arises from:
      • Sharaf Exchange acting or failing to act upon any of Your Instructions;
      • Any error contained in the information You have provided through Services;
      • Access or use of the Services in the manner or purpose not authorized by Sharaf Exchange or from Your part;
      • Malfunction or breakdown of access to the Services; and
      • Any events outside Sharaf Exchange’s control.
      • You agree to treat access rights; documentation and any information related to Your Services strictly private and Confidential and You shall not copy or reproduce them in any form either in whole or in part.
      • Alerts: If You subscribe, Sharaf Exchange will provide You with alerts or confirmation to Your nominated contact number or e-mail address every time a transaction is performed using the Services.
      • Fees and Charges. You accept that Sharaf Exchange may impose charges on the Services and if applicable, Sharaf Exchange will deduct the charges from Your Account or may charge additionally.
      • In no event, Sharaf Exchange or its contractors, agents, licensors, partners or suppliers will be liable to You for any special, indirect, incidental, consequential, punitive, reliance, or exemplary damages (including without limitation lost business opportunities, lost revenues, or loss of anticipated profits or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever) arising out of or relating to:
    • this Agreement or the T&Cs;
    • the Services or any reference site/app/platform/service; or
    • Your use or inability to use the Services or any reference sites/app/platform/service, even if Sharaf Exchange or a Sharaf Exchange authorized representative has been advised of the possibility of such damages.
      • You acknowledge and agree that Sharaf Exchange has offered its Services, set its prices, and entered into this Agreement in reliance upon the warranty disclaimers and the limitations of liability set forth herein, that the warranty disclaimers and the limitations of liability set forth herein reflect a reasonable and fair allocation of risk between You and Sharaf Exchange, and that the warranty disclaimers and the limitations of liability set forth herein form an essential basis of the bargain between You and Sharaf Exchange. Sharaf Exchange would not be able to provide the services to You on an economically reasonable basis without these limitations. Applicable law may not completely allow the limitation or exclusion of liability or incidental or consequential damages, so the above limitations or exclusions will apply to You subject to applicable law. In such cases, Sharaf Exchange’s liability will be limited to the fullest extent permitted by applicable law. This paragraph shall survive the termination of this Agreement.
      • You agree to indemnify and compensate Sharaf Exchange for any damages, losses, expenses or liabilities Sharaf Exchange incurred as a result of Your breach of these T&C’s, in particular the above instances specified under this paragraph 12.
    • Indemnity

You agree to indemnify, save, and hold Sharaf Exchange, its affiliates, contractors, sub-contractors, employees, officers, principals, directors, agents, licensors, and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to:

  1. Governing Law and Jurisdiction
    • These Terms and Conditions shall be governed by and construed in accordance with the laws of the United Arab Emirates and, where applicable, the laws of the Emirate of Dubai. Any disputes arising in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts of Dubai.
    • Notwithstanding anything to the contrary in these Terms & Conditions, for any claim, action, or proceeding arising out of or in connection with these Terms & Conditions (“Proceedings” means any suit, action, or other legal process), the following shall apply:

To the extent permitted by law, you waive any claim to immunity from suit, jurisdiction, enforcement, attachment, or execution in respect of the Proceedings.

  1. Regulatory Compliance
    • Sharaf Exchange is regulated by the CBUAE and operates in compliance with all applicable UAE Federal Laws, including but not limited to Federal Decree Law No. 20 of 2018, Cabinet Decision No. 10 of 2019, and any relevant directives or guidelines issued by the CBUAE. You acknowledge and agree that your use of our services is subject to compliance with these laws and any applicable cross border regulations.

 

  1. Privacy and Data Protection
    • Sharaf Exchange collects, uses, stores, shares, and otherwise processes your personal data in accordance with the UAE Personal Data Protection Law (Federal Decree-Law No. 45 of 2021) and other applicable laws. We process personal data for the following purposes and on lawful bases permitted by law: to provide, operate, secure, and improve the Services; to fulfill contractual and legal/regulatory obligations (including AML/CFT, sanctions screening, fraud prevention, and risk management); to enforce our Terms & Conditions and protect our legitimate interests (including dispute handling, collections, audit, and compliance reviews); and, where permitted, for customer communications, service updates, and marketing (with an opt-out for marketing).
    • You authorize and agree that, as necessary for the above purposes, we may disclose or transfer personal data to our affiliates, authorized representatives, partners, service providers and subcontractors (including IT, payment, KYC/AML, screening and analytics providers), correspondent/receiving institutions, and competent authorities, within or outside the UAE, subject to applicable cross-border transfer requirements. You acknowledge that some processing may include profiling and automated decision-making for risk, security, sanctions, and compliance controls, and may result in delays, requests for information, or denial of Services where risk is indicated.
    • You must provide accurate, complete, and current information and promptly update us of any changes. You are responsible for safeguarding your Device, credentials, OTPs, and biometric factors and for any activity carried out through your account until you notify us and we have had a reasonable opportunity to act. Failure to provide required information or to cooperate with our information or verification requests may result in delays, limits, suspension, or termination of the Services. We may retain personal data and related records for the periods required by law or our legitimate interests (including ongoing investigations, audits, disputes, and regulatory requests), which may exceed five (5) years where permitted or required.
    • We implement appropriate technical and organizational measures to protect personal data; however, to the maximum extent permitted by law, we are not responsible for losses arising from (a) your failure to keep credentials or Devices secure; (b) third-party communications networks or service providers outside our reasonable control; or (c) your failure to follow security guidance. This does not limit liability for our gross negligence or willful misconduct. You may opt out of promotional marketing at any time; we may still send service, transactional, and legally required communications.
  2. System or Application Changes

In the event of a significant change to our systems, application architecture, or data handling practices, we will notify users through in-app messages, website announcements, or email. Where necessary, explicit consent may be sought again. Any data migration or system enhancement will undergo rigorous testing, risk assessment, and will comply with all applicable legal and regulatory standards.

  1. Clarificatory Provisions

The following provisions are supplementary to the above Clauses and shall apply subject to any limitations of, or prohibitions under, the applicable laws. 

We may, at any time and without prior notice, suspend, block, restrict, or terminate access to the Service, and/or place a hold on, withhold, freeze, delay, reverse, or cancel any Transaction or related funds (in whole or in part) for any of the following reasons; (collectively, “Risk Reasons” means suspected or actual fraud or scam; anti-money laundering and counter-terrorism financing (AML/CFT) concerns; sanctions screening hits or exposure to sanctioned persons, entities, sectors, or countries; security or cyber risk; know-your-customer/enhanced due diligence gaps; unusual or suspicious activity; exceedance of risk or allowed limits; regulatory request; or other legal or compliance obligations).

  1. Set-off and Recovery Rights
    • “Chargeback” means a reversal or refusal of a payment by a bank, card scheme, payment processor, or correspondent. “Linked Account” means any bank account, card, wallet, or payment method you have provided or authorized for funding or refunds. These rights are in addition to, and do not duplicate, our suspension/blocking rights for Risk Reasons and our indemnity and liability limitations.
  1. Acceptable Use and Sanctions Compliance
    • You must not use the Service for or in connection with any activity that breaches sanctions, anti-money laundering, or counter-terrorism financing requirements. For these purposes, “Sanctions” means economic or trade sanctions laws and regulations administered or enforced by the United Arab Emirates, the United Nations, the United States (including OFAC), the United Kingdom, the European Union, or any other applicable authority; and a “Sanctioned Person” means any person, entity, vessel, or country/territory that is the target of Sanctions or is owned or controlled by such a target.
  1. Enhanced Security and Device Hygiene
    • For this Section, “Security Incident” means any suspected or actual loss, theft, compromise, or unauthorized use of a Device, credentials, One-Time-PIN, passcode, or biometric. You must not use rooted/jailbroken/compromised Devices, emulators, or unsupported OS/firmware. Keep your Device and the Mobile Application updated, enable multi-factor authentication (including OTP/biometrics) and strong unlock methods, safeguard credentials (no sharing/plain text/auto-fill), and avoid insecure networks. Do not permit third-party use unless we approve after verification; you remain responsible for activity until you notify us and we have had a reasonable opportunity to act.
    • We may conduct security checks, enforce minimum versions, disable features, require re-authentication, or block, restrict, or deny access/Transactions where risk or non-compliance is detected. You must promptly report Security Incidents and cooperate with our investigations. To the extent permitted by law, you are responsible for losses caused by your non-compliance; we are not liable for losses arising from compromised/non-compliant Devices, failure to update, disabled security features, or failure to report, except to the extent caused solely by our gross negligence or willful misconduct.
  2. Electronic Records and E‑Signatures
    • Electronic Records maintained by Sharaf Exchange constitute prima facie evidence of the content, timing, origin, and authorization of your instructions and Transactions. We may rely on such Electronic Records and act on them without requiring any additional wet‑ink signature. You bear the burden of proving any manifest error or unauthorized use not caused solely by our gross negligence or willful misconduct.
    • Where permitted by law, we may provide disclosures, receipts, notices, and updates electronically (including in‑app notifications, push notifications, SMS, or email). You must keep your contact details current and promptly review Electronic Records. Any discrepancies must be reported within fourteen (14) days of issuance; otherwise, the Electronic Records will be deemed accurate and accepted.
    • Assignment, Novation, and Subcontracting. We may assign, transfer, novate, or subcontract any of our rights or obligations, in whole or in part, at any time without notice or your consent (including to affiliates and service providers). You may not assign, transfer, or novate any rights or obligations, or permit third-party use, without our prior written consent. Where required by law, we may provide notice of a novation; your continued use of the Service after such notice constitutes your consent.
    • Error Resolution and Corrections. You must promptly notify us of any error, overpayment, duplicate or erroneous credit and, on request, return such amounts. We may correct entries, recall or reverse funds, and you authorize us and our partners to debit any Linked Account and/or set off against funds held or payable to you to recover amounts owed. Unreturned amounts may accrue interest at the lower of one percent (1%) per month or the maximum permitted by law, and you are responsible for our reasonable recovery costs to the extent permitted by law.
    • Explicit consent to monitoring, sanctions screening, profiling for risk/compliance, and cross-border processing with safeguards.
    • You expressly consent to our monitoring of your use of the Service, AML/CFT and Sanctions screening, and risk/compliance profiling (including automated decision-making), and to the cross-border transfer and processing of your personal data (“Personal Data”) with appropriate safeguards. You agree to promptly provide information we request and acknowledge that Transactions may be delayed, declined, blocked, or reversed for compliance or security reasons.
    • Authority to freeze or delay funds during investigations or on instruction of competent authorities without liability for delay.
    • Freeze/Delay Authority. We may, without prior notice, freeze, hold, withhold, delay, or reverse any Transaction or related funds, in whole or in part, during investigations or pursuant to instructions from competent authorities. Where permitted by law we may notify you; however, we have no liability for any resulting loss, cost, or delay, and no interest is payable on held funds. You must promptly provide information we request; failure to do so may prolong or expand restrictions. Funds may be returned to the original payment method or held pending authority instructions, less applicable fees and third-party charges permitted by law.
    • Notices and deemed delivery via in-app/push/SMS/email with defined receipt timelines.

Notices and deemed delivery. You consent to receive notices electronically via in-app message, push notification, SMS, or email to the latest contact details you provided. A notice is deemed received: (a) for in-app/push/SMS, at the time of transmission; and (b) for email, when sent or, if earlier, when opened. Failure to update contact details or delivery issues outside our control does not affect validity. Posting a notice in the Mobile Application or on our website may also constitute notice. Where law requires written notice, electronic delivery satisfies that requirement to the extent permitted.

Changes to these Terms & Conditions (including fees, features, and service limits) may be made in accordance with applicable UAE law and the Central Bank of the UAE’s Consumer Protection Regulation and Standards (including Article 2: Disclosure and Transparency). Where practicable, we will provide advance electronic notice and any legally required notice period; however, urgent, security, operational, or legal/regulatory changes may take immediate effect. Unless a different effective date is stated or required by law, changes take effect upon posting in the Mobile Application or on our website, and your continued use after the effective date constitutes acceptance.

The clauses on AML/CFT, Sanctions, Electronic Records and E-Signatures, Liability, Indemnity, Set-off and Recovery Rights, Privacy and Data Protection, Governing Law and Jurisdiction, Termination Effects, and any obligations which by their nature should survive, shall survive termination.

If any provision is invalid or unenforceable, the remainder remains in full force, and the provision will be modified to the minimum extent necessary to be valid and enforceable. A failure or delay to exercise any right or remedy is not a waiver; any waiver must be in writing and is effective only for the specific instance and purpose given.

These Terms & Conditions (including incorporated policies and notices) constitute the entire agreement regarding the Service and supersede all prior or contemporaneous understandings.

In case of conflict: (a) mandatory law and regulatory directives; then (b) these Terms & Conditions; then (c) product-specific terms; then (d) FAQs/help or marketing materials. Sharaf Exchange may resolve inconsistencies as required for legal or regulatory compliance.

You must promptly cooperate with any audit, review, or information request related to the Service, including by providing accurate documents and access we reasonably require. Failure to cooperate, provide information, or respond within our specified timeframe may result in immediate suspension, restriction, or termination of access to the Service, and we may withhold, freeze, delay, reverse, or cancel Transactions and related funds as necessary to comply with law or manage risk.

The Service may rely on third-party banks, payment processors, correspondents, and networks (“Third Parties”). To the maximum extent permitted by law, we make no warranties regarding Third Parties and are not liable for their acts or omissions, delays, errors, failures, charges, deductions, or fees, or for events outside our reasonable control. Timeframes are estimates only. Any third-party fees may be deducted from amounts transmitted or refunded.

We may, at any time, suspend, restrict, or terminate access to the Service, in whole or in part, with immediate effect and without prior notice where permitted by law, including for: (a) breach of these Terms & Conditions; (b) any Risk Reasons; (c) regulatory or legal mandate or illegality; (d) failure to provide information, pass verification, or cooperate with our requests; (e) actual or suspected fraud, misuse, or security concerns; or (f) insolvency, bankruptcy, or cessation of business.

We may terminate for convenience by providing notice where practicable. You may terminate by giving thirty (30) days’ notice and settling all outstanding obligations.

The above clauses on AML/CFT, Sanctions, Electronic Records and E‑Signatures, Liability, Indemnity, Set-off and Recovery Rights, Privacy, and Governing Law and Jurisdiction survive termination.