Privacy Policy

Sahem Financial Platform places the highest importance on the privacy and confidentiality of its users’ and visitors’ data and considers it a top priority.
This Privacy Policy aims to clarify how personal data is collected, processed, and protected, in accordance with the applicable laws and regulations in the Kingdom of Saudi Arabia, including the Personal Data Protection Law and its Implementing Regulations.

Sahem Platform confirms that it does not collect any personal information about you when you visit the electronic portal or the application unless you voluntarily choose to provide such information. In the event that you provide your personal information, its use shall be limited solely to fulfilling your request for information or services, in accordance with the provisions of this Policy.

Please read this Privacy Policy carefully. By using the Platform or the Application, you acknowledge and agree to fully comply with the Privacy Policy and the confidentiality of information provisions set forth herein. Any access to or use of the Platform shall be deemed implicit acceptance of all terms contained in this Policy.

This preamble shall be considered an integral and inseparable part of the Platform’s Terms and Conditions and shall be interpreted and read in conjunction with the rest of the Terms and Conditions. It shall not restrict or limit the effects or enforceability of any provisions contained in this document or any other document governing the use of the Platform.

Objectives of the Privacy Policy

• Personal Data Protection: Ensuring the protection of users’ data from unauthorized access or unlawful disclosure.

• Enhancing Transparency: Clarifying how data is collected and used to ensure users are aware of their rights.

• Legal Compliance: Achieving compliance with personal data protection regulations in the Kingdom of Saudi Arabia.

• Service Improvement: Utilizing data to develop the Platform’s services and provide a distinguished user experience.

Personal Information Collected

In its capacity as a service provider, Sahem Financial Platform collects and processes personal information relating to its users (“Personal Information”), which includes, but is not limited to, the following:

• Usage Data: Such as user activity on the Platform, login records, and Cookies.

• Contact Data: Such as email address, phone number, national address, and similar information.

• Identity Data: Such as full name, national ID/Iqama number, date of birth, nationality, personal photograph, and similar information.

• Investment Data: Such as investment history, investment preferences, investment amounts, and similar information.

• Financial Data: Such as bank account (IBAN), bank card information, financial transaction records, and similar information.

• Additional Data: Any other data related to the scope of the Platform’s activities, and similar information.

Personal Information includes all details collected directly or indirectly, whether through Cookies or similar tools, or through third parties.

When visiting the Platform, its server automatically records certain data such as Internet Protocol (IP) address, date and time of visit, and the URL of any website that refers the user to the Platform.

Methods of Data Collection

Sahem Financial Platform relies on multiple methods to collect and process user data to ensure a comprehensive and integrated experience, including:

1) Direct Collection Methods:

Data is collected when:
1.1) The user registers on the Platform or submits an investment request.
1.2) Transactions are executed through the Platform’s channels related to the services provided.
1.3) Direct communication with the Platform through writing, email, phone, or any other means of communication.
1.4) Interaction with the Platform and voluntary provision of information, such as participation with other users.

2) Indirect Collection Methods:

The Platform relies on technologies such as:
2.1) Cookies to analyze usage patterns.
2.2) Website analytics tools to extract information about the electronic devices used to access the Platform.

3) Collection from Third Parties:

The Platform has the right to collect additional information about users from:

• Credit Rating Agencies: To obtain reports on users’ personal and commercial credit status, including partners and beneficial owners.

• Public and Private Sources: Such as government databases and publicly available sources.

• Relevant Authorities: To examine and match data with official records.

4) Data Verification:

Upon registration, the Platform may request additional information including:

• The credit status of the user and their partners.

• Commercial account data and beneficial owners’ identities.

• Additional information regarding the user’s business activities.

Purposes of Processing Personal Information

The Platform processes the personal information it collects for the following purposes:

1. Verification of Identity and Information Provided:
   Ensuring the accuracy and correctness of user-provided data, including identity verification in accordance with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, which are among the requirements of the Capital Market Authority.

2. Platform Management and Operation:

   • Operating and regularly updating investment accounts.

   • Providing and managing services offered through the Platform.

   • Continuously developing and improving operations and services.

3. Communication with Users:

   • Sending notifications and updates related to services and investment opportunities.

   • Providing technical support and responding to inquiries.

4. Data Analysis and Service Development:

   • Studying and analyzing data to identify user preferences and customize services.

   • Conducting market research and studies to improve product and service quality.

   • Preparing statistics and reports to analyze traffic and improve user experience.

5. Legal and Regulatory Compliance:
   Complying with regulatory instructions and regulations, including adherence to national standards for combating financial and cyber crimes.

6. Prevention of Illegal Activities:

   • Monitoring and preventing any unlawful activity such as fraud or forgery.

   • Taking immediate actions to verify transactions and address any security issues.

7. Data Sharing with Third Parties:

   • Providing information to entities acting on behalf of the Platform to deliver required services.

   • Disclosing data upon request by judicial authorities or regulatory bodies.

8. Protection of Rights and Interests:

   • Protecting the rights and property of the Company, users, and third parties.

   • Recovering any amounts received by users without legal right or legitimate cause, pursuing debts, and enforcing any contracts entered into by the user related to or through the Platform.

9. Ensuring Platform Safety and Security:

   • Conducting financial audits and verifying sources and destinations of funds.

   • Monitoring activities to ensure compliance with integrity and transparency rules.

• Data may be used to personalize services and identify relevant products that may interest users.

• All data is considered anonymized when used for statistical purposes.

Sahem Financial Platform is committed to protecting data and ensuring it is not used for any purposes that conflict with users’ interests.

Data Sharing

Sahem Platform commits not to share users’ data with third parties except in the following cases:

• With regulatory and governmental authorities such as the Capital Market Authority, in accordance with applicable regulations.

• With service providers (such as payment and identity verification companies) who adhere to data protection standards.

• With issuing or listed companies of investment opportunities, subject to user approval.

Data Protection Measures

The Platform takes the following measures to protect users’ data:

• Encryption: To ensure data protection during transmission and storage.

• Security Systems: Use of advanced technologies to prevent breaches.

• Periodic Review: Conducting regular security reviews to ensure continued compliance with protection standards.

Data Retention

The Platform retains personal data for a period appropriate to the purposes for which it was collected or as required by applicable regulations.

Users’ Rights

Users have the following rights:

• Access to Data: Requesting a copy of stored personal data.

• Data Correction: Requesting correction of inaccurate data.

• Withdrawal of Consent: The ability to withdraw consent for data processing.

• Data Deletion: Requesting deletion of data when it is no longer needed.

Cookies Policy

Most websites place a small file on the visitor’s hard drive (browser) upon visiting, known as “Cookies.” Cookies are text files that contain information allowing the website that placed them to retrieve such information when needed during the user’s subsequent visit. Stored information includes:

1. Remembering username and password.

2. Saving page settings if available on the Platform.

3. Saving colors selected by the user.

4. Preventing voting more than once by the same user.

The browser (visitor) may not need to enter the password on every visit, as the system can detect it through Cookies. Accordingly, Sahem Platform uses the information contained in Cookies for its own technical purposes when the Platform is visited more than once. The Platform may modify the information stored in Cookies or add new information whenever the Platform is visited.

Security Obligations and Disclaimers

• Automatic Account Lock: Accounts are automatically locked after a specified number of failed login attempts as a security measure.

• Passwords: Users are advised to choose strong and unique passwords containing uppercase and lowercase letters, numbers, and symbols, and to avoid sharing them with any person.

• Reporting Security Risks: Users must immediately contact Sahem Financial Platform representatives through available means if account compromise is suspected or in case of loss of password or any other confidential information.

• Prohibition of Sharing Confidential Information: Sharing any confidential information, including passwords or secret codes, via phone or internet is strictly prohibited under any circumstances.

• Use of a Secure Browser: To achieve the highest level of security when conducting online transactions, users are advised to use a secure browser, close unused applications, and ensure antivirus software is regularly updated.

• Data Protection Commitment: Sahem Financial Platform commits to taking appropriate technical and organizational measures to protect users’ personal data and prevent unauthorized access or unlawful use, while acknowledging that no system can be guaranteed to be completely free of security vulnerabilities.

• Disclaimer of Liability: The Platform shall not be liable for any direct, indirect, or consequential damages arising from data loss or unauthorized access due to factors beyond the Platform’s control, such as cyberattacks, unforeseen technical failures, or user negligence.

• User Responsibility: Users are responsible for maintaining the confidentiality of their personal data and account passwords. If a security breach occurs due to user negligence or sharing information with third parties, the Platform shall bear no liability for any resulting damage.

• External Links: The Platform may contain links to other websites or services operated by third parties. The Platform is not responsible for the privacy policies or data protection practices of such entities, and users must review their policies before providing any personal data.

• User Reporting Obligation: If any unusual activity or security breach related to the user’s account is suspected, the user must immediately notify the Platform to take appropriate action.

• Policy Updates: Sahem Financial Platform reserves the right to amend or update this Privacy Policy from time to time in line with legal, regulatory, or operational changes.

• Notification of Updates: Users will be notified of any updates to the Privacy Policy via email or Platform notifications, with a reasonable period specified before such updates take effect.

• User Review Responsibility: Users are responsible for reviewing the date of the last policy update displayed at the bottom of the page to ensure awareness of the updated version.

• Continued Use: Continued use of the Platform after notification of updates constitutes explicit acceptance of the updated Privacy Policy terms.

By using Sahem Platform, you acknowledge that you have read, understood, and agreed to this Privacy Policy. If you do not agree, please refrain from using the Platform and do not provide any personal data.