Terms & Conditions

Welcome to Nayla Finance!

These Terms and Conditions (“Terms”), together with the documents and policies incorporated and referenced in these Terms, including the Privacy Policy, shall constitute an agreement (“Agreement”) between You (“You, Your, Yourself”), and Nayla Finance along with its affiliates, successors, and assigns (Nayla Finance, We, Us, or Our”), a microfinance company.

By visiting Our Website https://www.naylafinance.com (“Website”), our mobile and web application (“App”), and any application or technology We make available (collectively referred to as the “Platform”), using any service offered on the Platform, or otherwise accessing Our Platform, You indicate that You accept these Terms and that You agree to abide by them. If You do not agree to these Terms, please do not access Our Platform. You should read this Agreement carefully before starting to use the Platform. Registration for the Services requires the Company to undertake “Know Your Client” procedures (hereinafter referred to as “KYC”) to verify the Client’s status as an authorized user of the Services when accepting these conditions.

We reserve the right to update, change, or replace any part of the Terms by posting updates and/or changes to the Platform and notifying You of such changes via documented communication channels, including, but notlimited to, text messages or email. You will be notified at least 30 days before any changes take effect. If Youdo not agree with the updated Terms, You have the right to object before the changes come into force. Your continued use of or access to the Platform following the effective date of any changes constitutes acceptanceof those changes.

When You agree to these Terms and accept this Agreement, You do so on behalf of Yourself and any personthat You entitle or authorize to use Your Nayla Finance’s account to the extent provided in these Terms. You are responsible for obtaining all consents and authorizations needed to accept this Agreement for others.

The Platform operates under the name of Nayla Finance. Nayla Finance provides microfinance services to Clients in accordance with the regulations and guidelines set forth by SAMA. The services offered by Nayla Finance include but are not limited to (1) Providing short-term financing for productive activities and small business operations, (2) Assessing the creditworthiness of Clients and determining the amount of financing. (3) Managing and processing loan disbursements and repayments through various channels. The Services arerestricted to financing productive activities and small business operations, in accordance with Article 13 of the Rules for Engaging in Microfinance Activity.

Nayla Finance reserves the right, from time to time, to update the Platform; and/or make new applications, tools, features, or functionalities available through the Platform, the use of which shall be contingent upon Your agreement to additional Terms and/or service fees. Nayla Finance reserves the right to discontinue theServices, the Platform, or certain applications, tools, features, or functionalities of the Platform, for any reason, at any time, at Nayla Finance’s sole discretion, subject to the Law and the Regulations, without anyliability to You or any other party.

To register for Nayla Finance services, You must complete the registration process within the Nayla Finance Platform. As part of the registration, it is mandatory to complete the “Know Your Client” (KYC) process and verify your identity and business information according to SAMA’s regulations. Nayla Finance retains the right to initiate any necessary actions at any time to ensure adherence to all applicable KYC requirements setby SAMA.

By registering, the Client confirms that all submitted information is true, accurate, and complete. Nayla Finance may reject a registration request if there are any inconsistencies or errors in the information or documents provided by the Client.

During the registration process, the Client will be sent an OTP (One-Time Password) via relevant institutions to the phone number linked to ABSHER. This OTP must be entered into the Nayla Finance Platform to confirm the Client’s identity and mobile number. The Client must accept the Terms and Conditions to finalize account activation and will be prompted to create a unique OTP code for accessing the Nayla Finance Platform, which can be updated at any time.

The Client is fully responsible for the correctness of the information provided during registration. Should the Client provide inaccurate, false, or misleading details, Nayla Finance disclaims any liability for the resulting consequences. If the Client becomes aware of any inaccuracies in their account information, they must promptly notify Nayla Finance by contacting [email protected].

If Nayla Finance discovers that the Client has supplied false, misleading, or incorrect information, the company reserves the right to close the Client’s account immediately, with or without prior notice. Termination of the account will immediately revoke access to the Nayla Finance Platform. Clients seeking microfinance must submit a formal application, which includes the following documents:

Nayla Finance reserves the right to approve or reject any application based on the results of the creditworthiness assessment, the viability of the proposed business activity, and compliance with applicable regulations. Upon approval of the application, Nayla Finance and the Client will enter into a Finance Agreement, which will outline the specific terms and conditions of the financing.

The Client agrees to use the borrowed funds strictly for the purposes outlined in the Finance Agreement. Misuse of the funds, including diverting them to personal use or non-approved business activities, constitutes a breach of the Finance Agreement and may result in (1) Immediate termination of the agreement, (2) Requirement for the Client to repay the full outstanding amount immediately, or (3) Legal action, including the enforcement of collateral if applicable.

To qualify for Nayla Finance services, Clients must meet the following criteria:  You must be a legally registered Micro Enterprise operating in KSA.

 The finance must be for productive activities or asset acquisition to support the growth or expansion ofYour business.

 You must demonstrate creditworthiness, as assessed through a credit check or similar evaluationmethods employed by Nayla Finance.

Nayla Finance is not permitted to share any personal information, documentation, or account- related details with third parties unless required by a governmental body tasked with combating fraud, money laundering, orterrorism financing, or if the Client provides explicit consent.

By applying for Nayla Finance services, the Client consents to and fully authorizes Nayla Finance to obtain their financial data from any financial institution, agency, or consumer reporting entity. This data will be used to review the Client’s financial status and assess their eligibility for Nayla Finance services. Additionally, the Client grants Nayla Finance full authorization to retrieve KYC (Know Your Client) information from relevant institutions to confirm the individual’s identity and legal capacity as well as the entity’s information and capacity in relation to the obligations detailed in these Terms and Conditions.

In the event that the Client’s registered phone number with the Nayla Finance Platform is lost or becomes inoperative, the Client must promptly contact the company through designated communication channels. This will ensure the immediate suspension of services to prevent any unauthorized access or misuse of the Nayla Finance services. Unauthorized activities could include, but are not limited to, fraud, money laundering, terrorism financing, or actions leading to blacklisting.

No funds are allowed to be held in a Nayla Finance Account at any time, as per the applicable regulations established by SAMA. The Client’s account will stay active for a period of 180 days starting from the date of the last transaction orthe account’s activation, whichever is more recent. Nayla Finance reserves the right to suspend or terminate access to its services or application, either wholly orpartially, at its discretion under the following circumstances:

Any credit balance remaining in a Client’s account is considered their asset while they are alive. In the event of the Client’s death, the credit balance will be transferred to their legal heirs, provided a valid death certificate is submitted and verified by Nayla Finance’s Client Care Center.

By using the Platform and/or providing any Services through the Platform, You agree that:

This information (“Client Data”) is necessary for Us to provide the Services. When You request a Service, You may be required to provide additional information, including a detailed address and other personal information. We may use this information to deliver the Services to You, if necessary, in accordance with our Privacy Policy.

You also agree that We may use some information to contact You in the context of Your request if necessary(in accordance with Our including the Privacy Policy). If You do not provide Us with all the required information, You cannot be provided with any of the Services.

You are required to create a personal profile (the “Client Account”), which includes Your Client Data. WhenYou request a Service through the Platform, You will receive information that includes details about the Service provided.

We want to make sure that You use the Platform responsibly and follow the rules. Therefore, You are notallowed to use the Platform:

We are not responsible if any information made available on the Platform is not accurate, complete, or current. The material on the Platform is provided for general information only and should not be relied upon or used as the sole basis for making decisions without consulting primary, more accurate, more complete, or more timely sources of information. Any reliance on the material on the Platform is at Your own risk.

The Platform may contain certain historical information. Historical information, necessarily, is not currentand is provided for Your reference only. We reserve the right to modify the contents of the Platform at any time, but We have no obligation to update any information on the Platform. You agree that it is Your responsibility to monitor changes to the Platform.

We reserve the right to limit the purchase of our Services to any person, geographic region, or jurisdiction at Our discretion. We may choose to exercise this right on a case-by-case basis. Please be aware that we may update descriptions of our Services, including pricing, with prior notice when required. Additionally, We reserve the right to discontinue any of Our Services at any time. Please note that any offer for Our services made on the Platform is void in any location where such services are prohibited. We want to make it clear that we do not guarantee the quality of any Services purchased or obtained through our platform, as individual experiences may vary.

We understand that mistakes happen, and We want to make sure that You have the ability to correct anyerrors that may occur while entering Your Client Data. If You do make an error, please don’t hesitate to contact Our Client service team through [email protected] or directly through Our Platform, andWe will be happy to help You correct it.

At Nayla Finance, We value Your satisfaction and want to ensure that Your experience with Us is as seamlessand error-free as possible. Please don’t hesitate to contact Us with any questions or concerns You may have about correcting errors in Your Client Data or Service requests.

In the event of any error attributable to our willful misconduct, gross negligence or fraud, Nayla Finance shall be responsible. However, We cannot be held liable for any mistake, error, or damage, and We will not incur any liability for any indirect, special or consequential loss of any kind, nor incur any liability for any loss of profits, goodwill, business or anticipated savings (in either case, either direct or indirect), which may be incurred.

In no event shall Nayla Finance, its directors, employees, partners, agents, suppliers, or affiliates, be liable forany indirect, incidental, special, consequential or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from your access to or use of or inability to access or use the Service; any conduct or content of any third party on the service; any content obtained from the service; and unauthorized access, use or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence) or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed of itsessential purpose.

You agree to use the Platform at Your own risk, and Nayla Finance shall not be liable for any direct, indirect,incidental, special, or consequential damages arising out of or relating to the use of the Platform or Services provided.

Certain Services available via Our Platform may include materials and content from third parties. Third-party links or content videos on the Platform will direct You to third-party websites that are not affiliated with Us. We are not responsible for examining or evaluating the content or accuracy and We do not warrant and will not have any liability or responsibility for any third-party materials or websites, or for any other materials, products, or services of third parties.

We are not liable for any harm or damages related to the purchase or use of goods, services, resources, content, or any other transactions made in connection with any third-party websites. Please review carefully the third-party’s policies and practices and make sure You understand them before You engage in any transaction. Complaints, claims, concerns, or questions regarding third-party products, content, and practices, should be directed to the third party in question directly.

This Platform contains material and content which is owned by or licensed to Nayla Finance. This material and content include, but are not limited to, the logo, design, layout, look, appearance, pictures, videos, information, and graphics. Reproduction is prohibited other than in accordance with a copyright notice, which forms part of these Terms. The Platform may only be used by You, and You may not rent, lease, lend, sub-license, or transfer the Platform or any data residing on it or any of Your rights under these Terms to anyone else.

You may not develop or derive for commercial sale any data in machine-readable or other forms that incorporates or uses any substantial part of the Platform. You may not transfer to or store any data residing orexchanged over the Platform to any electronic network for use by more than one

(1) Client unless You obtain prior written permission from Us. Except as otherwise expressly provided, You may not sell, modify, reproduce, copy, display, perform, distribute, transfer, use, publish, license, or create derivative works from any content contained in the Platform. The use of the Platform’s content on any other platform or in a networked computer environment for any purpose is prohibited. You may not copy or adapt the coding that We create to generate the pages. You may not upload, post, or otherwise make available on the Platform any material protected by copyright, trademark, or other proprietary rights without the express permission of the owner of the copyright, trademark, or other proprietary rights. Nayla Finance does not have any express burden or responsibility to provide You with indications, markings, or anything else that may aid You in determining whether the material in question is copyrighted or trademarked. You will be solely liable for anydamage resulting from any infringement of copyrights, trademarks, proprietary rights, or any other harm resulting from such a submission.

Subject to any third-party rights in any preexisting content included within Your Client Content, You retain ownership of any rights You have in Your Client Content, and submitting Your Client Content to the Platform does not transfer ownership of Your rights. You hereby grant Nayla Finance an unrestricted, assignable, sublicensable, royalty-free, worldwide license to reproduce, distribute, publicly display, communicate to the public, publicly perform (including by means of digital audio transmissions and on a through-to-the-audience basis), make available, create derivative works from, retransmit from external sites, and otherwise exploit anduse all or any part of all Client Content You post to or through the Platform by any means and through any media and formats now known or hereafter developed, for the purposes of (i) advertising, marketing, and promoting Nayla Finance and the Platform; (ii) displaying and sharing Your Client Content to other Clients of the Platform; and (iii) providing the Service as authorized by these Terms.

You acknowledge that We may not always identify paid services, sponsored content, or commercial communications as such. You further grant Us a royalty-free worldwide license to use Your Client’s name, image, voice, and likeness to identify You as the source of any of Your Client Content. You must not post any Client Content on or through the Platform or transmit to Nayla Finance any Client Content that You consider to be confidential or proprietary. Any Client Content posted by You to or through the Platform or transmitted to Us shall be considered non-confidential and non-proprietary, and treated as such by Us, and shall be used by Us in accordance with these Terms without notice to You and without any liability to Us. The foregoing provisions apply equally to and are for the benefit of Nayla Finance, its subsidiaries, affiliates, and its third- party content providers and licensors, and each shall have the right to assert and enforce such provisions directly on its own behalf.

Your access to the Platform and/or Your use of any of its Services is at Your sole risk. You acknowledge that We may use third party suppliers for hardware, software, connectivity, and all business requirements to get You the Services. The acts and omissions of those third-party suppliers shall be outside of Our control and You can’t hold Us liable for any loss or damage suffered as a result of any act or omission of any third party. We do not warrant that: (i) the Platform will meet Your specific requirements; (ii) Your access to the Platform or any of its services will be uninterrupted, timely, secure, or error-free; (iii) the Platform will be accurate or reliable; (iv) the quality of any Services, information, or other material purchased or obtained by You throughthe Platform will meet Your expectations; or (v) any errors in the Platform will be corrected.

The information presented or contained in Nayla Finance, or provided through the Platform (“Content”) is presented for the purpose of promoting the Service Providers and providing their Services.

The Content and other information contained in the Platform are compiled from a variety of sources.

By using our Platform, you agree not to make any claims against Nayla Finance, its affiliates, subsidiaries, orany related parties (such as sponsors, suppliers, contractors, and employees) for any issues arising from your use of the Platform. This includes claims related to the infringement of rights or demands for indemnification. Nayla Finance and related parties are not liable for any direct, indirect, special, or consequential damages, including loss of use, property, or other damages, resulting from your access to or inability to use the Platform. This applies even in cases of errors, interruptions, viruses, or unauthorized access to our systems,

whether caused by unforeseen circumstances or otherwise.

NAYLA FINANCE SHALL NOT BE HELD LIABLE FOR CLIENT AND OTHER’ INFORMATION DETAILS THAT ARE PROVIDED OUTSIDE THE SCOPE OF THE PLATFORM INCLUDING, BUT NOT LIMITED TO, THE PLATFORM AND DIFFERENT CHANNELS OF COMMUNICATION LIKE PHONE AND EMAIL CONVERSATIONS OR EVEN PHYSICAL/LIVE COMMUNICATION. NAYLA FINANCE SHALL NOT BE HELD LIABLE FOR ANY BAD BEHAVIORS OF A SERVICE PROVIDER AND/OR A CLIENT INCLUDING, BUT NOT LIMITED TO ANY BADLY, UNCOMPLETED SERVICE, GROSS NEGLIGENCE IN THE QUALITY OF THE SERVICE PURCHASED, OR SHALLFUL MISCONDUCT, ANY MORAL AND/OR PHYSICAL DAMAGES SUCH AS INJURY, DEATH THATSHALL OCCUR TO A CLIENT, OR THIRD PARTY.

As a user of the Platform, You are responsible for Your communications and Your use of Nayla Finance. You must not engage in any of the following activities under any circumstances: (a) using simultaneous, unattended, or continuous connections to Nayla Finance with one account;

(b) posting or transmitting any message that is libelous or defamatory; (c) posting or transmitting any message, data, image, or program that is indecent, obscene, or pornographic; (d) posting or transmitting any message, data, image, or program that would violate the property rights of others, including unauthorized copyrighted text, images, or programs, trade secrets or other confidential proprietary information, and trademarks or service marks used in an infringing fashion; (e) using the Platform to threaten, harass, stalk, abuse, or otherwise violate the legal rights(including rights of privacy and publicity) of others; (f) intercepting or attempting to intercept email or other private communications not intended for You; (g) sending unsolicited email messages to other Clients, using Your email account as an address to which Clients need to respond, or using the Platform as a mass unsolicited distribution medium to communicate a generally unsolicited message (unless otherwise permitted by Nayla Finance); (h) sending unsolicited email messages through third-party mail servers to relay Your email or hide the origination of Your email to others; (i) uploading or downloading files that contain softwareor other material protected by intellectual property laws, rights of privacy or publicity, or any other applicable law unless You own or control the rights to such files or have received all necessary consents; (j) deleting anyauthor attributions, legal notices, or proprietary designations or labels in a file that Your upload to Nayla Finance; (k) falsifying the source or origin of software or other material contained in a file that Your upload to Nayla Finance; (l) using Nayla Finance in a manner that adversely affects the availability of its resources to other Clients; (m) falsely purporting to be an employee or agent of Nayla Finance; (n) causing repeated disruptive incidents; (o) acting, or failing to act, in Your use of Nayla Finance in a manner that is contrary to applicable law or regulation; or (p) engaging in any other activity deemed by Nayla Finance to be in conflict with the spirit or intent of this Agreement. Additionally, You must not post or transmit any message that is harmful, threatening, abusive, or hateful. While Nayla Finance encourages Clients to express their options and take controversial positions, it reserves the right to take appropriate action in cases where the Platform isused to disseminate statements that are deeply and widely offensive and/or harmful. Each time You upload afile on Nayla Finance, You represent and warrant that You own or otherwise control the rights or have the necessary consents to do so. Failure to comply with any of these limitations or obligations may result in civilor criminal liability.

By using the Platform, you agree to protect, defend, and hold harmless Nayla Finance and its Related Parties from any claim or demand, including reasonable attorney fees, made by any third party resulting from Your violation of the Terms or documents incorporated by reference or Your infringement of any law or the rightsof a third-party.

YOU HEREBY RELEASE US AND AGREE TO HOLD NAYLA FINANCE HARMLESS FROM ANY AND ALL CAUSES OF ACTION AND CLAIMS OF ANY NATURE RESULTING FROM THE SERVICE PROVIDERS OR THE PLATFORM, INCLUDING (WITHOUT LIMITATION) ANY ACT, OMISSION, OPTION, RESPONSE, ADVICE, SUGGESTION, INFORMATION AND/OR NON- MATCH OR BADSERVICE OF ANY SERVICE PROVIDER AND/OR ANY OTHER CONTENT OR INFORMATION ACCESSIBLE THROUGH THE PLATFORM. YOU UNDERSTAND, AGREE, AND ACKNOWLEDGE THAT THE PLATFORM IS PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND, INCLUDING BUT NOT LIMITED TO MERCHANTABILITY, NON- INFRINGEMENT, SECURITY, FITNESS FOR A PARTICULAR PURPOSE, OR ACCURACY. THE USE OF THE PLATFORM IS AT YOUR OWN RISK. TO THE FULLEST EXTENT OF THE LAW, WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESSED OR IMPLIED. YOU UNDERSTAND, AGREE, AND ACKNOWLEDGE THAT WE SHALL NOT BE LIABLE TO YOU OR TO ANY THIRD PARTY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES.

In the event that any provision of the Terms is determined to be unlawful, void, or unenforceable, such provision shall nonetheless be enforceable to the fullest extent permitted by applicable law, and the unenforceable portion shall be deemed to be severed from the Terms, such determination shall not affect the validity and enforceability of any other remaining provisions. The headings used in the Agreement are included for convenience only and shall not limit or otherwise affectthe Terms.

These Terms, including any modifications, will become effective upon Your initial use, pre- membership, or membership of the Platform, and will remain in full force and effect throughout Your use of the Platform andits services.

Notwithstanding anything to the contrary, We reserve the right to terminate Your membership and/or block Your access to and use of the Platform at any time if we determine that you have violated these Terms or the Financing Agreement or in cases of misconduct. We also reserve the right to refuse service to anyone for any reason and at any time. You may voluntarily terminate Your use of the Platform at any time by simply deleting your account and discontinuing Your visits or use of any aspect of the Platform.

We shall not be held liable for any delay or failure to perform any obligation related to the Platform if the delay or failure is due to unforeseen events that are beyond Our reasonable control, including, without limitation, acts of God, strikes, blockade, war, terrorism, riots, natural disasters, epidemic, pandemic, or governmental action, and other industrial disputes, breakdown of information communication technology systems or network access, flood, fire, explosion or accident.

Our failure to exercise or enforce any right or provision of the Terms shall not constitute a waiver of suchright or provision. The Terms as well as any other policies or operating rules posted by Us on the Platform or in respect to the Services, constitute the entire agreement and understanding between You and Us and govern Your access and use of the Platform, superseding any prior or contemporaneous agreements, communications, and proposals, whether oral or written, between You and Us (including, but not limited to, any prior versions of the Terms).

Any ambiguities in the interpretation of these Terms shall not be construed against Us.

We reserve the right to review and modify these Terms at any time. You are subject to the Terms in effect at the moment in which You access the Platform or use any of its services, except when by law or decision of agovernmental entity We must make changes retroactively to said policies, Terms, or Privacy Policy. In this case, the possible changes will also affect requests made previously by You.

This Agreement shall be governed by, and all disputes arising under or in connection with this Agreement shall be resolved in accordance with the laws of the Kingdom of Saudi Arabia. These laws will apply no matter where in the world you live, but You may be entitled to the protection of the mandatory consumerprotection provisions of your local consumer protection law.

Any disputes arising under these Terms or the Finance Agreement will be resolved in accordance with the dispute resolution mechanisms established by SAMA or through competent courts in KSA.

We value your feedback and encourage You to share Your comments and suggestions regarding these Terms or any aspect of our Platform. Please feel free to reach out to us via email at [email protected] . We appreciate your input and strive to continuously improve our offering.