AT MALAAWE TAKE PRIVACY AND DATA SECURITY VERY SERIOUSLY. WE BELIEVE IN OUR USERS RIGHTOF PRIVACY; THIS INCLUDE THE RIGHT TO KNOW WHAT DATA IS COLLECTED AND FOR WHATUSE. WE ALSO BELIEVE IN THE USER RIGHT OF CONTROLLING THE DATA AND REMOVING ITAT ANY TIME. WE MAKE OUR BEST EFFORT TO ENSURE THE SECURITY AND TRANSPARENCY OFTHE METHODS WITH WHICH WE PROCESS YOUR DATA AND HOW WE ENSURE IT IS KEPT SECUREAND CONFIDENTIAL. WE VALUE YOUR PRIVACY AND WILL NEVER SELL OR SHARE YOURPERSONAL INFORMATION TO ANYONE.
Approved on: 16th November 2021
Next scheduled review: 1st March 2022
The categories of information we collect depend on whether you are a current or a former User. Examples of instances when we collect Personal Information include:
• when you register to open an account as a User.
• when you contact our client service organization with questions, or
• when you connect your bank account(s) with us
• when you go through our Know Your Customer (KYC) process
Information we collect from users
We collect Personal Information from Users, including but not limited to:
• name, e-mail address, telephone number, zip code, Internet Protocol address, birth date;
• Income information and other financial planning associated with those accounts you choose to link to our Services, any challenge and/or security questions associated with those accounts and any information contained in those accounts Note: The section labeled “Information we collect when acting as a user’s authorized agent” provides additional details regarding how we use and protect this information alongside Malaa’s internal data operations processes in compliance with the KSA management and data protection framework and regulation.
Information we collect when acting as a user’s authorized agent
Many Malaa users choose to aggregate information from accounts at other financial institutions onto their dashboard on our Site or in our App, although you are required to do so. In enabling this functionality, retrieves the User account information maintained by such third-party financial institutions with which the User or Client has an existing customer relationship (“Account Information”), as described in this section.
Information regarding children
Due to the nature of our business, our Services are not made available to minors. Except for beneficiary information as described above, Malaa does not knowingly solicit Personal Information directly from or about persons under the age of 18.
If you are under the age of 18, please do not submit any Personal Information to Malaa.
If a parent or guardian becomes aware that his or her child under the age of 18 has directly provided us with Personal Information without his or her consent, he or she should contact us at firstname.lastname@example.org and we will delete such information from our files unless regulatory obligations prevent us from doing so.
Other ways we collect information
Other means by which we collect Personal Information include the following:
1. Automatic Data Collection. We may collect certain information when you use our Services. This information may include your Internet protocol (“IP”) address, cookie identifiers, mobile carrier, mobile advertising and other unique identifiers, details about your browser, operating system or device, location information, Internet service provider, pages that you visit before, during and after using the Services, information about the links you click, and other information about how you use the Services. Information we collect may be associated with accounts and other devices.
2. Anonymized or Aggregated Information. Malaa’s Site and App record certain anonymized or aggregated information about your use or evaluation of our Services. Anonymized or aggregated information is used for a variety of functions, including the measurement of Users’ interest in and use of various portions or features of the Site and App. Anonymized or aggregated information is not Personal Information, and we may use such information in a number of ways, including internal analysis and research. We may share this information with third-parties for our purposes in an anonymized or aggregated form that is designed to prevent anyone from identifying you.
4. Pixel Tags. Along with cookies, we may use “pixel tags,” also known as “web beacons,” which are small graphic files that allow us to monitor the use of our Sites. A pixel tag can collect information such as the IP address of the computer that downloaded the page on which the tag appears; the URL of the page on which the pixel tag appears; the time the page containing the pixel tag was viewed; the type of browser that fetched the pixel tag; and the identification number of any cookie on the computer previously placed by that server.
5. Site and App Activity. Malaa may also use third-party tracking technology, such as Google Analytics, to record similar information regarding you and your activity on our Site and App.
6. “Do Not Track” Technology. We do not collect Personal Information about your online activities over time and across different websites or online services. Therefore, our Site does not respond to Do Not Track (“DNT”) signals. We do not knowingly authorize third-parties to collect Personal Information about your online activities over time and across different websites or online services.
7. Surveys. We may contact you to participate in surveys. If you decide to participate, you may be asked to provide certain information which may include Personal Information.
How we use information
No renting, selling or trading out list
We will never rent, sell or trade your personal information to anyone. Ever.
User personal information
We use your Personal Information for a variety of business purposes, such as to help you evaluate our Services, offer you new products or services, enhance our Services, and for research and internal analysis.
We use third-party vendors to verify your identity as part of the regulatory requirement to verify our user’s identity. We may access your personal information with the National Information Center.
Your browsing activity may be tracked across different websites and different devices or apps. For example, we may attempt to match your browsing activity on your mobile device with your browsing activity on your computer. To do this, we may analyze your browsing patterns, geo-location and device identifiers to match the information of the browser and devices that appear to be used by the same person.
Social media and links to other websites and applications
Information sharing and onward transfer
We will not share or disclose our Personal Information (current or former User) to any nonaffiliated third-parties except:
1. To protect ourselves or others. We may share your Personal Information as required by law, such as when we reasonably believe its necessary or appropriate to investigate, prevent, or take action regarding illegal activities, suspected fraud, situation involving potential threats to the personal safety of any person, if we believe doing so is required or appropriate to: comply with law enforcement or national security requests and legal process, such as a court order; to protect your, our or others’ rights, property, or safety; enforce our policies or contracts; or collect amounts owed to us.
2. Service providers. There are certain circumstances in which we may share your Personal Information with non-affiliated third-party service providers, including to perform certain business and technology related functions and to support the provision of the Services. We may share your personal Information with non-affiliated third-party service providers for the provision of the Services, which includes but is not limited to:
a. Mailing information
b. Data processing and storage
c. Identification and verification of fraud detection
d. Customer support
3. Disclosure in the event of merger, sale, or other asset transfers. If we are involved in a merger, acquisition, financing due diligence, reorganization, bankruptcy, purchase or sale of assets, or transition of service to another provider, then your Personal Information may be transferred as part of such a transaction, as permitted by law and/or contract,
Choices of opting-out
You may decline to provide Personal Information to Malaa. Declining to provide Personal Information may disqualify you from using Malaa Services, Site, and App features that require certain Personal Information.
Opting-out – Obtaining and withdrawing consent
Where you have consented to Malaa’s use of your Personal Information, you may withdraw that consent (revoke consent) at any time and opt-out by contacting us by email indicated under the “Contacting us” section blow. Users cannot opt-out of providing Malaa Personal Information and continue to use the Services. Users must close their account(s) in order to opt-out of further providing us with Personal Information. Additionally, before we use Personal Information for any new purpose. Even if you opt-out, we may still collect and use non-personal information regarding your activities on our Services and for other legal and regulatory purposes as described above.
Email and SMS communications
We process requests to be placed on do-not-mail, do-not-phone and do-not-contact lists as required by applicable law.
We may send you push notifications through our mobile application. You may at any time opt-out from receiving these types of communications by changing the settings on your mobile device. We may also collect location-based information if you use our mobile applications. You may opt-out of this collection by changing the settings on your mobile device.
How long we keep your data
We only retain your Personal Information for as long as reasonably necessary to fulfil the purposes we collected it for, that includes retaining your data to satisfy any legal, regulatory, tax, accounting or reporting requirements
On certain occasions, we may retain your Personal Information for a longer period, and even after you stop using our Services, in order to:
1. Respond to inquiries and complains
2. To comply with laws and regulations
3. To protect our interests
King Abdullah Financial District (KAFD)
Building 5.07 Riyadh
13519 Saudi Arabia