Welcome to Amal Takaful Microfinance Co. Ltd. (“Amal Takaful”, “we”, “our”, “us”). These Terms & Conditions (“Terms”) govern your use of our financial products, website, mobile application, WhatsApp services, and any other services we provide. By applying for or using our services, you agree to these Terms.
1. Eligibility
- You must be at least 18 years old.
- You must provide valid identification (NIDA ID or equivalent).
- All information provided during application must be true, accurate, and complete.
2. Shariah Compliance
- All our financial products are structured according to Islamic finance principles and reviewed by qualified Shariah scholars.
- You agree that financing will not be used for haram (prohibited) purposes, including but not limited to alcohol, gambling, pork products, or unethical activities.
3. Applications & Approval
- Submitting an application does not guarantee approval.
- Approval is based on eligibility, financial capacity, and compliance checks.
- Amal Takaful reserves the right to decline applications without obligation to disclose reasons.
4. Financing Terms
- Specific terms (amount, repayment schedule, profit margin, conditions) will be outlined in your financing agreement.
- You must carefully review and sign the financing contract before funds are disbursed.
- Repayments must be made according to the agreed schedule.
5. Repayment Obligations
- Repayments are made via mobile money (M-Pesa, Airtel, Tigo) or bank transfer, as agreed.
- In case of financial difficulty, you must notify us promptly to discuss restructuring options.
- No additional interest or penalties will be charged for late payments, in line with Shariah — however, delays may affect future eligibility.
6. Use of Services
- You agree to use our financing responsibly and lawfully.
- Misuse, fraud, or misrepresentation may result in termination of your contract and possible legal action.
7. Fees & Charges
- Certain administrative or service fees may apply, as clearly disclosed in your financing agreement.
- All charges will remain transparent and Shariah-compliant.
8. Privacy & Data Protection
- We collect and process your personal data in accordance with our Privacy Policy.
- By using our services, you consent to our collection and use of data as described in that policy.
9. Limitation of Liability
- Amal Takaful is not liable for:
- Losses caused by misuse of funds.
- Delays due to third-party services (telecom operators, payment gateways).
- Business losses outside our control (market risks, natural disasters).
10. Intellectual Property
- All content, branding, and materials on our website, app, and communications are the property of Amal Takaful.
- You may not copy, reproduce, or distribute them without permission.
11. Changes to Terms
- We may update these Terms & Conditions at any time.
- The updated version will be posted on our website with a revised “Last Updated” date.
12. Governing Law
- These Terms & Conditions are governed by the laws of the United Republic of Tanzania.
- Any disputes shall be resolved under Tanzanian law, with reference to principles of Islamic finance.
For questions about these Terms & Conditions, contact us:
255 957 756