Terms ofService

These terms govern your use of the Islamic Open Finance™ API platform, SDKs, sandbox environments, and related services.

Effective Date: January 1, 2025

These Terms of Service ("Terms") govern your access to and use of Islamic Open Finance™'s API infrastructure platform, sandbox environments, SDKs, documentation, and related services (collectively, the "Service"). By accessing or using the Service, you agree to be bound by these Terms.

1. Acceptance of Terms

By accessing or using the Service, you:

  • Confirm that you are of legal age to form a binding contract
  • Agree to these Terms and our Privacy Policy
  • Represent that you have authority to accept these Terms on behalf of yourself or your organization
  • Acknowledge that your use of the Service is at your own risk

2. Service Description

Islamic Open Finance™ provides:

  • 105 specialized API rails across 12 categories for Shariah-compliant finance
  • 142+ API endpoints for contract management (Murabaha, Ijarah, Musharakah, Mudarabah, Salam, Istisna, Wakalah, and more)
  • Shariah governance, compliance, and zakat calculation engines
  • Takaful, sukuk, treasury, and capital markets infrastructure
  • Real-time double-entry ledger and payment processing
  • Multi-tenant SaaS and Bring Your Own Cloud (BYOC) deployment options
  • Developer SDKs (TypeScript, Python, Java, Go), documentation, and sandbox environments
  • Open Banking Protocol (OBP) integration layer

3. User Responsibilities

Compliance

You must comply with all applicable laws, regulations, and Shariah principles when using the Service. The platform provides compliance tools but does not constitute legal or Shariah advisory services.

Security

You are responsible for maintaining the confidentiality of your account credentials, API keys, and webhook secrets. Notify us immediately of any unauthorized access.

Lawful Use

You may not use the Service for any illegal, harmful, or unauthorized purposes, including facilitating non-Shariah-compliant financial activities.

4. Acceptable Use

Prohibited Activities

You may not:

  • Reverse engineer, decompile, or attempt to extract source code
  • Use the Service to create competing products or services
  • Exceed API rate limits or circumvent usage quotas
  • Introduce malware, viruses, or harmful code
  • Facilitate non-Shariah-compliant financial activities through the platform
  • Transmit false, misleading, or fraudulent information
  • Interfere with or disrupt the Service, servers, or networks
  • Scrape, crawl, or harvest data beyond authorized API usage

5. Intellectual Property

Our Rights

Islamic Open Finance™ retains all rights, title, and interest in:

  • The Service and all proprietary technology, including the 105 rail architecture
  • API documentation, SDKs, and developer tools
  • Trade secrets, patents, and intellectual property
  • The Islamic Open Finance™ brand, logos, and trademarks

Your Rights

You retain ownership of:

  • Data and content you submit to the Service
  • Applications and solutions you build using our APIs
  • Your own intellectual property and business logic

6. Fees and Payments

Pricing

  • Sandbox: Free access for development and testing
  • Professional: Usage-based pricing with committed volumes
  • Enterprise: Custom pricing for large-scale and BYOC deployments

Payment Terms

  • All fees are non-refundable unless otherwise specified in your agreement
  • Prices are subject to change with 30 days written notice
  • You authorize automatic billing for recurring subscriptions
  • Overdue payments may result in service suspension after 15 days notice

7. Service Availability

  • 99.9% uptime SLA for Professional and Enterprise plans
  • Scheduled maintenance windows with minimum 48 hours advance notice
  • Real-time status page and incident communication
  • Service credits for downtime exceeding SLA commitments

8. Shariah Compliance Disclaimer

The platform provides tools aligned with AAOIFI Standards (SS-8 through SS-39) and IFSB prudential standards. However:

  • The Service does not constitute Shariah advisory, legal, or financial advice
  • Users must engage their own qualified Shariah scholars for fatwas and rulings
  • Compliance tools assist governance but do not replace Shariah board oversight
  • Islamic Open Finance™ is not liable for Shariah compliance determinations made using the platform

9. Limitation of Liability

To the maximum extent permitted by law:

  • The Service is provided "as is" and "as available" without warranties of any kind
  • We are not liable for indirect, incidental, special, or consequential damages
  • Our total aggregate liability is limited to fees paid in the preceding 12 months
  • We are not responsible for third-party integrations or banking core failures

10. Termination

Either party may terminate with 30 days written notice. We may suspend or terminate accounts immediately for violations of these Terms. Upon termination, you may export your data within 30 days, after which it may be deleted.

11. Governing Law

  • These Terms are governed by the laws of the United Arab Emirates
  • Disputes shall be resolved through arbitration in Dubai International Financial Centre (DIFC)
  • English language governs interpretation of these Terms
  • If any provision is found invalid, the remaining provisions remain in effect

12. Contact Information

For questions about these Terms:

Legal: legal@islamicopenfinance.com
General: info@islamicopenfinance.com
Address: Islamic Open Finance™, Dubai International Financial Centre, Dubai, UAE

© 2025 Islamic Open Finance™. All rights reserved.