Privacy Policy

Almowazi Capital Privacy Policy

Privacy Policy
Almowazi Capital

This Privacy Policy describes how [Almowazi Capital] (the "Company") collects, uses, and shares your personal information when you visit our platform or use our services. We understand that the OTC market is a complex and risky environment, and we are committed to protecting your privacy and security. This Privacy Policy is designed to help you understand how we collect, use, disclose, and safeguard the data you provide to us when you use our trading platform and related services. If any of the provisions of our Privacy Policy are deemed unlawful or invalid under applicable laws, those provisions will be removed. The remaining terms of the privacy policy will remain valid and enforceable. 

We encourage you to review the following sections of Almowazi Capital’s privacy policy, as it forms an essential component of our terms and conditions of use.

  1. Information We Collect
    • We collect personal information about you in a variety of ways, including:
      • When you create an account on our platform or use our services, we collect your name, email address, and other contact information.
      • When you trade on our platform, we collect information about your trades, such as the securities you traded, the quantity and price of the securities, and the date and time of the trades.
      • We also collect information about your use of our platform and services, such as the pages you visit, the features you use, and the time you spend on our platform.
      • We may also obtain personal information about you through your use of our platform, or through the use of cookies on our platform, in particular by recording which pages you look at on our platform. We may record any communications, electronic, by telephone, in person or otherwise. Such telephone conversations may be recorded without the use of a warning tone or any other further notice. These recordings will be Almowazi Capital's sole property and will constitute evidence of the communications between us.
      • Before you disclose to us the personal information of another person, you must obtain that person's consent to both the disclosure and the processing of that personal information in accordance with this policy.
    • In addition to the above, we also collect the following information for OTC platform:
      • Your investment objectives and risk tolerance.
      • Your investment experience and knowledge.
      • Your financial situation and net worth.
  2. How We Use Your Information
    • We use your information to:
      • Provide you with access to our platform and services.
      • Process your trades and other transactions.
      • Communicate with you about your account and the services you use.
      • Improve our platform and services.
      • Protect against fraud and other illegal activity.
      • Comply with our legal obligations.
      • Assess your suitability for trading in OTC Platform related to Boursa Kuwait.
      • Audit your use of our services.
  3. How We Share Your Information
    • We share your information with:
      • Third-party service providers who help us provide our platform and services, such as payment processors, order management systems, and customer support providers. These third-party service providers are only given access to the information they need to perform their services, and they are contractually obligated to keep your information confidential.
      • Government agencies and other regulatory bodies, as required by law.
      • Other parties in connection with a corporate transaction, such as a merger or acquisition.
  4. Risks Associated with OTC Trading
    OTC trading is a complex and risky activity. It is important to understand the risks involved before engaging in OTC trading. Some of the risks associated with OTC trading include:
    • Loss of investment: The value of OTC securities can fluctuate wildly, and there is always the risk of losing some or all of your investment.
    • Illiquidity: OTC securities can be difficult to sell, and you may not be able to find a buyer for your securities when you want to sell.
    • Fraud: There is a risk of fraud in the OTC market  and you must be careful and deal with a securities broker licensed by the regulatory authorities
  5. How We Protect Your Privacy and Security
    We take reasonable measures to protect your personal information from unauthorized access, use, and disclosure. However, no security measure is perfect, and we cannot guarantee the security of your personal information.
  6. Changes to This Privacy Policy
    We may update this Privacy Policy from time to time. If we make any material changes, we will post a notice on our platform and send you an email notification (if you have provided us with your email address).
  7. Disclosing personal data
    • As part of using your personal information for the purposes set out above, we may disclose your information to: 
      • [any of our partners, employees, officers, insurers, professional advisers, credit providers, agents, suppliers, subcontractors and Anyone authorized by you.] insofar as reasonably necessary for the purposes set out in this policy.
      • We may disclose your personal information to Boursa Kuwait, trade brokers and any member of our group of companies (this means our subsidiaries, our ultimate holding company and all its subsidiaries) insofar as reasonably necessary for the purposes set out in this policy.
    • We may also disclose your personal information to any party in the following cases:
      • With your consent;
      • Necessary for contracted services, where we process your personal information for requested or purchased services, including those provided by Almowazi Capital.
      • For our partner's legitimate interests;
      • In the event of Almowazi Capital's dissolution, liquidation, and/or asset sale;
      • To comply with legal obligations or applicable law
    • We may disclose your personal information: 
      • to the extent that we are required to do so by law;
      • in connection with any ongoing or prospective legal proceedings;
      • in order to establish, exercise or defend our legal rights (including providing information to others for the purposes of fraud prevention and reducing credit risk);
      • [to the purchaser (or prospective purchaser) of any business or asset that we are (or are contemplating) selling.
    • Except as provided in this policy, we will not provide your personal information to third parties.
    • Neither we or all of the aforementioned can use your personal information for marketing services unless we get your honest consent in this regard.
    • For each of those we provided information to, are obliged to follow our privacy policy only in securing your personal information collected through our services and pledge to not share and use your personal information in a harmful way.
    • The user undertakes and agrees hereby that Al-Mowazi shall not be responsible for any unauthorized use or access of your personal information by the partner or any third party. Moreover, the user shall not hold Almowazi Capital liable for the content or practices of the platform operated by any parties associated with the services or arising from them.
  8. International data transfers
    • Information that we collect may be stored and processed in and transferred between any of the countries in which we operate in order to enable us to use the information in accordance with this policy.
    • You expressly agree to the transfers of personal information described in this Section 8.
  9. Retaining personal data
    • Section 9 sets out our data retention policies and procedures, which are designed to help ensure that we comply with our legal obligations in relation to the retention and deletion of personal information.
    • We hold personal information in a combination of secure computer storage facilities and paper-based files and other records and take steps to protect the personal information we hold from misuse, loss, unauthorized access, modification or disclosure.
    • When we consider that personal information is no longer needed, we will remove any details that will identify you or we will securely destroy the records. However, we may need to maintain records for a significant period of time if necessary. For example, we are subject to certain anti-money laundering laws which require us to retain: 
      • A copy of the documents we used to comply with our customer due diligence obligations; and
      • Supporting evidence and records of transactions with you and your relationship with us, for five years after our business relationship with you has ended.
    • Notwithstanding the other provisions of this Section 9, we will retain documents (including electronic documents) containing personal data: 
      • to the extent that we are required to do so by law;
      • if we believe that the documents may be relevant to any ongoing or prospective legal proceedings; and
      • in order to establish, exercise or defend our legal rights (including providing information to others for the purposes of fraud prevention and reducing credit risk).
  10. No liability
    Almowazi Capital and its operators are not liable for financial losses, damages, or liabilities resulting from trading activities. We do not guarantee information accuracy, trading outcomes, prevention of hacking, or complete virus entry prevention. "Al-Mowazi Capital" is not legally liable for any damage resulting from a breach of confidentiality regarding your information. We are not responsible if any third party discloses your personal information. Your trading decisions are your responsibility. Hereby, you waive any rights to bring forth claims against us.
  11. Amendments
    • We may update this policy from time to time by publishing a new version on our application.
    • You should check this page occasionally to ensure you are happy with any changes to this policy.
  12. Governing law and jurisdiction
    Any dispute relating to the enforcement, interpretation, or application of the Privacy Policy shall be governed by and construed by the laws of the State of Kuwait. Any dispute arising out of or in connection with this Privacy Policy, or any usages of Almowazi Capital Services including the platform shall be dealt with through the Courts of the State of Kuwait to the exclusion of all others.

  13. Our details

    • This application is owned and operated by Almowazi Capital KSC (Closed)

    • We are registered in Kuwait under registration number [492554], and our registered office is at Qibla, AlSahab Tower, floor 15.

    • You can contact us by writing to the business address given above, by using our application contact form, by emailing info@almowazicapital.com or by telephone at [1883030].

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