Akasia is a trademark owned by Savings Development Company for FinTech in Securities Business. The Client undertakes to read the terms and conditions agreement carefully and to do his best to abide by and comply with the provisions stated below. The agreement explains the details of the service provided by Akasia and identifies the obligations and rights between Akasia and the user. The platform shall not be used in the event of not understanding and comprehending all the provisions of the agreement.

Upon logging in, downloading or using Akasia, it is an acknowledgment by the Client to unconditionally accept and agree to the terms and conditions agreement, as well as all related practices and how to deal therewith as described in this agreement.

Investing through Akasia platform is associated with high risks, so you should not invest funds that you cannot afford to lose; and in the event of a loss, it is confined to the invested amount only. Investing through Akasia is a long-term investment and is suitable for long-term investors. The platform is currently intended for the KSA citizens. The user must read this agreement carefully.

The agreement is governing and legally binding and effective immediately upon starting to use Akasia, whether or not the Client has registered. This introduction shall be deemed a part of this agreement. The client is entitled to request a copy of this document in both Arabic and English throughout its validity period, and it will be provided to the client via his email.

1. Definition

2. This agreement is subject to the following

2.1 The Capital Market Law and its implementing regulations, including the Capital Market Institutions Regulations.

2.2 Rules and customs of capital markets or capital market authorities.

2.3 Circulars and instructions issued by the Capital Market Authority.

2.4 Rules and instructions of the FinTech Lab issued by the Capital Market Authority.

3. Investment platform services

Management of the Investment Account: To open and manage the Client's portfolio account, as Akasia opens an investment account upon the user's completion of all the information and data required in the account opening stage. Akasia shall rely on such data to conduct identity verification processes. Akasia reserves the right to conduct identity verification processes whenever necessary in any way it deems appropriate and legal, without being obligated to do so.

4. Investment plan services

4.1 Akasia shall build a specific investment plan for the Client and determine investment objectives and limitations based on the data and information provided by the Client during the registration and opening of the investment portfolio process. This includes providing advice of a non-discretionary nature, as all transactions which shall be undertaken by the user are decisions in which the Client directs Akasia to carry out specific operations.

4.2 Akasia shall take into account the Client's interest and shall provide advice for the investment plan in accordance with the best practices and measures for the Client's benefit. The Client shall agree to the advice and the proposed investment plan.

4.3 Upon opening an investment portfolio on the platform by the Client, Akasia shall determine the appropriate investment for the Client based on the data provided by the Client. Akasia may, from time to time, provide recommendations or provide investment opportunities other than those previously provided and may distribute different investment research. It shall be noted that such recommendations may not be appropriate for the Client in particular. The Client shall not rely on them and consider such information or materials provided thereto as advice. The Client shall be completely free to follow or ignore this recommendation.

4.4 Akasia shall not be responsible for any loss or damage incurred by the Client as a result of relying on such information.

5. Execution of transactions and instructions

5.1 Transactions in investments are executed for the Client's account according to instructions within the platform either directly or indirectly. Akasia shall invest any amounts transferred by the Client, as any amount transferred by the Client to Akasia is the main and direct means of sending the Client's instructions to Akasia.

5.2 By giving instructions, the Client authorizes Akasia without any restrictions to deal with any mediators or any third parties or others to implement any procedures deemed necessary and appropriate to activate and execute transactions under such instructions.

5.3 When Akasia refuses to accept any instructions or act on any instructions from the Client, Akasia shall inform the Client immediately. However, Akasia is not required to provide any explanations for the refusal decisions.

5.4 Akasia shall implement the instructions within (7) seven business days and Akasia Shall act in accordance with best practices and make its best efforts to implement the instructions in the shortest possible time.

6. Decisions regarding opening an investment account

6.1 The Client confirms and acknowledges his understanding of the terms and conditions of the Investment Account Agreement. The Client also acknowledges that all the information provided thereby to Akasia is correct, up-to-date and not misleading.

6.2 The Client confirms that the information provided thereby to Akasia regarding his financial solvency and investment objectives while opening the Investment Account is and will remain complete and correct. He also undertakes to do the actions necessary to manage his account and update his information to benefit from the service properly. The Client also confirms to provide information of his renewed identification document once the original identification documents expire to avoid freezing the client investment account upon failing to meet such commitments.

6.3 The portfolio and its assets during the term of this agreement shall remain his property and free from all fees, burdens and third-party rights other than those arising as a result of transactions entered into under this agreement.

7. Legal capacity

In order for the client to benefit from the service provided on the platform, he may be required to register his personal data by entering and providing complete, correct and accurate data, including the Client's Identification document, address, contact information, occupation. It is also required to register a username and a password. The client shall solely assume the responsibility for maintaining and not sharing such data with third party and that he is the authorized person to maintain the confidentiality of his entered data and information. The data provided shall be subject to the confidentiality policy applied in the service. The client also acknowledges that he has the legal capacity necessary to conclude and agree to this document as a contracting party and account owner and he is the only person authorized to manage any other account the application may provide him therewith. The client also acknowledges that he has full and unrestricted legal authority in accordance with the following conditions:

A. Be 18 years of age or older;

B. Have the legal capacity to enter into contracts.

Without prejudice to any other rights of the Platform under this Agreement or the Law, the Platform reserves the right to restrict access to the Platform or cancel the Membership if it deems that the Client has not reached the age of 18 or is not eligible.

8. Investment risks

8.1 The user understands that all investments may rise and fall. In any case, any type of investment involves a certain type of risk, some of which contain high risks that may lead to the loss of the entire capital. The Client confirms that he understands the nature of the products offered and that they are appropriate for him in light of his circumstances, financial situation and investment objectives. However, such products shall not be appropriate for all investors and may involve unacceptable risks.

8.2 Foreign Markets: Foreign investment in foreign markets involves risks different from the financial market in the Kingdom of Saudi Arabia. Foreign investments denominated in foreign currencies are affected by the risks of exchange rate fluctuations, and may be affected by economic and political changes in those countries.

8.3 Fund Managers: Investing in funds involves the risk represented in the fund manager's inability to maintain performance similar to the indicator or maintain a reasonable standard deviation.

8.4 Liquidity Risk: Some of the invested assets may be illiquid compared to other assets. Lack of liquidity may pose risks when selling or buying such assets, which may expose you to greater losses.

8.5 The Client shall always be aware of the regulatory and tax implications related to the investment before opening the portfolio and during the retention period.

8.6 Other Risks: Certain investments may be subject to restrictive conditions regarding duration, sale, redemption, liquidity, transfer and valuation.

8.7 Unsecured Investment: Some or all of the investments subject to this Agreement may be unsecured or uninsured and such investments are subject to loss.

9. Application content

The platform reserves the absolute right to monitor, edit, delete or reject any entered content before or after publication. However, the platform is not obligated to do so, and cannot monitor everything entered on the application. Therefore, the platform maintains the right, without obligation, to delete, remove or edit entered materials which violate such terms and conditions. The laws and regulations protect the contents of this platform, so the platform has the right to pass on to the competent authorities any content it deems to be in violation or constitute a violation of any of its rights. Moreover, the platform is entitled to announce the identity of the user.

10. Links to other websites

The platform may contain links of other websites, the content of which the platform has no control over. The platform does not review or control the content of such websites and transfers responsibility for their content to other websites. It is worth noting that the platform provides these links as a convenience to the service users, without any promotional content included therein related to goods, services or information. Whoever selects or passes through a link to an external website shall be subject to the terms and conditions of such external website and shall assume responsibility for the resulting risks.

11. Granted license

The Platform grants you a limited, non-exclusive, non-transferable, non-sub-licensable license to access and make non-commercial use of the website's services upon your compliance with the terms of use or any terms of service, and upon payment of any applicable fees. Such license does not include the resale or any commercial use of any of our services or their contents. The license also does not include any copying of account information for the benefit of third parties, or any use of data mining methods or any use of similar data collection and extraction tools. It is worth noting that without obtaining the Platform written consent, you may not reproduce or make an exact copy of this application or the platform, or copy, sell or resell any part thereof, or use them in a different way for commercial or non-commercial exploitation purposes without obtaining the Platform express written consent.

Also, without the Platform express written consent, you may not use any meta tags or any other "hidden text" exploiting the name of the application or its trademarks or post any links to other sites or sites via the Platform through any features available within the Platform. The Client shall not misuse the Platform services in any way. The licenses granted by the Platform shall terminate in case of non-compliance with such terms of use or any other terms of service. All rights not expressly granted to you in this terms and conditions agreement or any other terms of service are reserved by the Platform.

12. Intellectual property rights

The features, characteristics, symbols, software, texts, logos, images, graphics, digital content or embedded or available within the platform services or any features expressed within them such as (texts, logos, images, graphics, audio recordings, button icons, digital content, re-uploaded materials, software and data collection) contained in the Platform shall be the Platform exclusive IP rights and shall be subject to intellectual property protection under the Intellectual Property Laws in the Kingdom of Saudi Arabia or any applicable international agreements to which the Kingdom is a member. In addition, images, logos, page headers, button icons, texts and service names shall be the Platform trademarks and commercial designs. They may not be used in any connection with any product or service that is not affiliated therewith, so as not to undermine the platform value and credibility or its clients. It is also prohibited to reproduce the platform trademarks or commercial designs in any media or advertising without written permission from the platform. The client acknowledges that he does not own the intellectual rights of the platform's programs, devices, software and documents. The platform also has the right, without prior notice, to suspend or terminate the services provided at its sole discretion at any time without any obligation on it, provided that it assists in terminating the services that were requested prior to termination. All rights to the services shall be reserved to the platform. The user may not publish, copy or sell them without obtaining the platform consent, as the platform contains features subject to intellectual property rights protection.

13. Texts and language of the agreement

13.1 The User shall carefully read and follow the terms of use, privacy policy and conflict of interest policy on the Website If there any changes thereto. A notice of any amendments shall be posted and shall come into effect as soon as they occur.

13.2 This Agreement has been drafted in two languages Arabic and English. In the event of inconsistency between the Arabic and English versions, the Arabic version shall prevail.

14. Activation of wallet account

14.1 Deposits:

14.1.1 Funds will be sent to the user's bank account or debit or credit card registered in the user's name.

14.1.2 Payment instructions shall be sent via Akasia website only. The user shall be fully responsible for the correctness, completeness and accuracy of the instructions given thereby to Akasia regarding the service beneficiary.

14.1.3 The user shall provide Akasia with all additional information requested thereby regarding any payment within two business days of the request.

14.2 Withdrawals from wallet:

14.2.1 The User shall provide Akasia with correct data about the beneficiary of the financial payment. The User shall assume full responsibility in the event of entering incorrect data, while Akasia shall not bear any loss incurred by the User.

14.2.2 The User shall inform Akasia as soon as possible of any financial transaction that was made without the user's permission or in an incorrect or illegal manner. Akasia shall not assume any responsibility for any such financial transactions in any case.

14.2.3 Akasia has the right to reject any financial information for certain reasons. However, Akasia shall clarify the reasons for the rejection and the methods of correcting the error in the financial transaction data. Akasia shall be entitled to collect a cover fee for the expenses incurred in this regard. Akasia shall not make the payment if it is illegal or irregular.

15. Costs & Fees

15.1 Akasia deducts fees as shown below:

15.1.2 Akasia will charge an administrative fee (0.7%) which includes the platform operating costs annually from the net investment account value (excluding taxes and additional fees), calculated on a daily basis and deducted when the Client makes a withdrawal. The withdrawal fee will be calculated out of the total withdrawn amount proportionate to the size of the Client's portfolio.

15.1.3 Administrative fees do not include VAT fees.

15.1.4 The Client shall bear all fees related to bank transfers to transfer his investments to and from Akasia, if any.

15.1.5 Akasia has the right to calculate and deduct fees on a monthly basis and collect them by selling a portion of the Client's investments.

15.2 Akasia may impose or pass on other fees as it deems appropriate, including but not limited to: Value Added Tax and other government fees if any.

15.3 Akasia may adjust its fees either by increasing or decreasing them. The Client will be notified prior to any change within a maximum period of thirty (30) days.

15.4 Service fees shall be charged in Saudi Riyals.

16. Settlement of accounts

Akasia shall be entitled to receive all fees and other amounts payable hereunder up to the date of its termination, including any losses or fees incurred in the course of completing the settlement of accounts. This shall be done by deducting the amounts from the Client's portfolio assets if necessary.

17. Trading days

The Client understands that investment transactions are only executed during the days and times when Akasia and the relevant financial markets are open. The Client understands that there are holidays when the markets are closed. Akasia cannot execute any investment operations during the period of market closure.

18. Best efforts and practices

Akasia shall use its best efforts to execute and carry out investment transactions with the best possible execution and as quickly as reasonably practicable. However, Akasia will not be liable for any loss or expense incurred by the Client as a result of delay in carrying out any transaction unless such delay is due to negligence or willful conduct on the part of Akasia. Akasia shall, in all cases, act in good faith and in the Client's best interests.

19. Foreign exchange operations

The Client understands that investment transactions are only executed during the days and times when Akasia and the relevant financial markets are open. The Client understands that there are holidays when the markets are closed. Akasia cannot execute any investment operations during the period of market closure.

20. Termination of agreement

20.2 The Client may close the account and terminate this Agreement at any time and for any reason upon written or electronic notice at least thirty (30) days.

20.3 Akasia may terminate or suspend the investment account services for any reason and at any time after giving the user prior notice.

20.4 Akasia may suspend the service and block access to the investment account if the user violates the terms of this Agreement.

21. Post-termination of agreement

21.1 After the termination of the agreement, Akasia will communicate directly with the client to arrange for the settlement of the account and the transfer of funds.

Akasia is not obligated to refund such amounts at a specific time, yet Akasia is keen to refund them within a reasonable period of completing the procedures for requesting the termination of the agreement.

22. Representations and acknowledgments

The user acknowledges and represents that:

22.1 Neither Akasia nor its affiliates make any representation or warranty regarding any of the following:

22.2 The Platform services, investment account, payment and transfer services will meet the user's requirements.

22.3 The Platform services will be available 100% of the time without interruption or that transfers and market orders will be made in an error-free manner.

22.4 The user authorizes Akasia to open credit and debit entries to fix any errors arising through the Platform or through third parties to fix and address such errors.

22.5 The client acknowledges and agrees that his information, whether the user's name or address and any other necessary information may be disclosed to third parties to enable Akasia to conduct certain investigations, such as anti-money laundering or verifying political exposures and others.

22.6 Akasia reserves the right to conduct additional know your client procedures at any time whenever necessary to verify the client's identity.

22.7 The funds must exceed the minimum deposit or withdrawal limit specified within the Platform.

22.8 The client confirms that he will provide Akasia with any information immediately upon any change in the Know Your Client data.

22.9 The client confirms his commitment to comply with the Capital Market Law and its implementing regulations, as well as other relevant regulations in the Kingdom, including but not limited to Anti-Money Laundering Law and its implementing regulations.

22.10 The Client hereby confirms and acknowledges that he is fully qualified according to Sharia and the law and that he has full authority to enter into this agreement and understands that it is binding on him.

22.11 The Client hereby confirms and acknowledges that the services and products of Akasia Company are suitable for him.

23. Limitation of liability

23.2 Liability for negligence or willful misconduct: Neither Akasia nor any of its affiliates nor any of Akasia's directors, officers, employees, agents or representatives shall be liable before the client for any loss, damage, costs, expenses or other liabilities (including taxes) incurred by the client, unless such result is directly attributable to gross negligence or willful misconduct.

23.3 No liability for damages: Neither Akasia nor any of its affiliates, directors, officers, employees, agents or representatives shall be liable before the Client for indirect or consequential losses, including any failure to realize profits or returns on invested amounts.

23.4 Akasia shall not be liable for funds transferred to and from Akasia until they have been received. The client must verify the account numbers for the transfer when depositing and withdrawing.

24. Disclaimer

Without prejudice to the previous provisions of this Agreement and for the avoidance of doubt, the Client agrees and acknowledges the following:

24.2 Akasia shall not make any representation or warranty regarding the performance of its portfolios or the profitability of its investments. Akasia shall not bear the value of any investment decline or loss of all or part of the invested amounts.

24.3 Akasia shall not be liable for direct or indirect losses resulting from force majeure including but not limited to: acts of God, exchange or market rulings, trading suspensions, inability to communicate with the market maker, disputes or other circumstances beyond the control of Akasia.

24.4 Akasia is entitled to rely on the opinions and statements of third party professional advisors who are selected with reasonable care and whose instructions are executed in good faith. Akasia shall not be liable before the Client for any negative impact resulting from reliance thereon.

25. Indemnification

The user undertakes to indemnify and hold Akasia harmless - and all employees, directors, agents and representatives of Akasia - and all Akasia's affiliated entities, from all claims, costs, suits, actions and demands arising from any claim, action, audit, investigation, inquiry or any legal proceeding brought by any person or entity due to any breach or omission by the Client resulting from Akasia's execution of the Client's instructions or as a result of or in connection with Akasia's performance of its obligations and services hereunder.

26. Risk disclosure

Without prejudice to the previous provisions of this agreement and for the avoidance of doubt, the Client expressly acknowledges and agrees to the following:

26.2 Akasia shall not be liable for any losses or damages resulting from any use resulting from misuse of the investment account or losses related to breach of the Capital Market Authority's policies and implementing regulations.

26.3 Akasia shall neither breach its obligations hereunder nor be liable for any damages incurred by the client, whether directly or indirectly, due to force majeure, including but not limited to: acts of governments, wars, economic or civil disturbances, rulings of trading companies, or any cause or circumstances beyond the control of Akasia.

26.4 The user shall protect and maintain his password or other data.

26.5 Akasia shall not be liable for the performance, duties or obligations of any third party brokers, banks, clearing systems, custodians or any other service provider appointed by Akasia, and Akasia will in turn make such rights available to the Client against any of the aforementioned parties in relation to the portfolio or investment account.

26.6 The above restrictions apply to the extent that they do not conflict with Akasia's obligations under the Capital Market Law or its implementing regulations.

27. Accepting and rejecting Instructions

Akasia has the right - without any liability - to refuse the order for any reason it deems appropriate. Akasia is also entitled - without any liability - to suspend the execution of the order temporarily or for any reason it deems appropriate, including cases of technical failure or during the development, modification or maintenance of any of its technical systems. Accordingly, Akasia shall not assume any liability for any delay or disruption in the execution of the order if such disruption or delay is beyond Akasia's control.

28. Amendements to agreements

Akasia may amend the terms and conditions of this Agreement and any related agreements entered into by electronic notice sent to the Client stating the amendments and changes. Such amendments shall become effective after the expiry of ten (10) days from the date the client receives the notice. Such amendments shall not affect any orders, instructions, executions, transactions or any legal rights and obligations that may have already arisen.

29. Compliants and suggestions

Clients can contact Akasia to submit complaints and suggestions through the following methods:

29.1 Technical support email

29.2 Akasia's unified number

29.3 The technical support via the application or website

30. Disputes and jurisdiction

The terms and conditions of this agreement shall be governed by the KSA laws and regulations. In the event of any disputes related to the service, they shall be settled amicably by first notifying the platform.

If no solution is reached, the dispute shall be settled before the competent courts in the Kingdom of Saudi Arabia. In case that any provision of this agreement becomes invalid, illegal or unenforceable, the legality and enforceability of the other provisions shall not be affected in any way by such provision.

31. Notifications

Any notifications the user wishes to send to the platform shall be sent via the specified features within the platform. Any notifications sent outside the platform shall not be considered. As for any notifications the platform wishes to send to the client, they must be done either by publishing them on the platform or by sending them to the user via the mobile number or email provided to the platform during the registration process. The user is assumed to be aware of the notification once it is published on the platform, or as of the time the message is sent to the client.