Term of use

Terms and Conditions for Master

Version (2.4)

Dated on 27/11/2021

“Dawul”, “the application”, “the Company”, “MISSAN Financial Technology Company”, “we” and “our”, is the electronic application that allows a group of customers (Master Customers – Beginners) to view the investment portfolios of other customers (Slave Customers – Experts) and the executed transactions for the benefit of these portfolios, in order to be guided by their investment strategies. The terms “you” and “your” mean the user of this application.

By using the app, you shall accept to comply with the terms and legally comply with the contained terms and conditions in this agreement (the “Terms” or the “Agreement”). These terms shall govern your access to the app and its use and all collective content, and constitute a binding legal agreement between you and us. If you do not agree to these terms, you shall not obtain any information or continue to use the application. Please read these terms of use carefully as these terms contain important information regarding your legal rights, remedies and obligations. These terms shall include various limitations and exclusions and the clause-governing jurisdiction and disputes.

Use of this application constitutes your acknowledgment of your commitment to the most recent version of these terms. We may revise at any time these terms. You agree to comply with all subsequent reviews and agree to review the Terms at regular intervals for changes to these Terms. The latest version of the terms shall always be available for review through the terms of use link that appears at the bottom of the application.

If you use the application, you shall read and agree to the Privacy Policy the following terms and conditions stipulated in this document. Any mentioned documents and incidental links shall be acceptable with these Terms. You agree to use the application with the interpretation mentioned in these terms and accept these terms and any actions or obligations that take place without observing these terms are at your own risk. These terms shall be considered as an integrated part of the agreement between the users and us (Slaves – Masters).

Without limiting any other provisions of this agreement, you may not use the application for any purpose that is unlawful or prohibited by this agreement and / or any additional applicable terms. Your access to the application may be terminated immediately if you violate “Dawul” on your own, with or without notice, if you fail to comply with these terms or any additional terms or for any other reason.

All terms and conditions shall be effective immediately upon the user logging in and choosing to use the services of Dawul app.

1.     Log in and Password:

You will be required to create your profile on the App when logging in with this app. A verification code will be sent to your mobile phone for matching. You shall be responsible for protecting your account and information, so do not share the verification code with any party. We will not and shall not be liable for any loss or damage caused by non-compliance with the above-mentioned instructions.

You shall be solely responsible for maintaining the confidentiality of your information. You will be responsible for all uses and activities that occur under your account.

You shall agree to notify Dawul immediately of any unauthorized use or any attempt to log in by sending a verification code to your mobile phone. Dawul shall not be liable for any loss or damage resulting from unauthorized use or any attempt to impersonate you to log in to your account.


2.     Service Description:

2.1  We are a licensed electronic application by the Capital Market Authority, working on providing a group of clients (Follower Customers – Beginners) with access to the investment portfolios of other customers (Slave Customers – Experts) and the executed deals in favor of these portfolios, with the aim of being guided by their investment strategies.  We, Dawul app, do not provide any analysis, recommendations, consulate or advice to our customers.

2.2  The slave can register on Dawul app and display its portfolio to the public, its financial position and all operations that take place on the investment portfolio. By registering the slave customer, we do not express any opinion regarding their qualification, suitability, competence, and experience to deal with a customer, nor is it an invitation or advertisement to buy, sell, or have a membership with the slave. We shall verify their personal information but we cannot assure that the quality of its services will be satisfactory to you.

2.3  The master can register on the Dawul app, follow the slave (experts), and have a membership with them to find out their current financial position and strategies.

2.4  The expert can delete his account, knowing that the procedures for deleting the account take place within 90 days, and the follower must review his investment strategies, review his financial position, and take the appropriate decision within this period


3.     Beginner Master

This section contains special conditions that apply only to the beginner master.

3.1  Requirements for Registration in Dawul App:

Your age shall be more than (18) years old. Dawul app will ask for your consent and approval to link with Absher platform to verify your identity as a user and verify your age before allowing you to continue using Dawul app.

3.2  Acknowledgments and Undertakings:

a.     You shall acknowledge that you have read the presented terms and conditions to you as an beginner master before completing your registration in the application. You shall have fully agreed to these terms and conditions.

b.     You shall acknowledge that you have been review and have full knowledge of the Capital Market Law and its Implementing Regulations, specifically Article No. (49) of the Financial Market Law and Articles No. (2) and (8) of the Market Conduct Regulations.

c.     You acknowledge that there is no prior agreement between you and the expert with whom you will participate to influence in any way the price of any security.

d.     You shall acknowledge and undertake your commitment to the Financial Market Law and its Implementing Regulations and other laws and regulations in force in the Kingdom of Saudi Arabia, especially the law on terrorist crimes and its financing, the anti-money laundering law and its implementing regulations and any updates to the above from time to time.

e.     You shall acknowledge that all your added personal information to your account is correct, and you are fully responsible for any wrong information in your account.

f.      You acknowledge that you are sufficiently aware of the risks of investing in the stock market, and that this application is not an invitation to buy or sell, and the application does not bear any responsibility for any investment decisions you take as a result of your use of this application, or any financial damages that you may result from these decisions.

g.     You shall acknowledge that you are aware that the Expert may be entitled to buy and sell in the same session by “Scalping / Intraday Speculation”. Dawul app shall not bear any responsibility accordingly.

h.     You shall acknowledge that Dawul app has the full right to demand compensation from you in an amount of no less than (500,000) five hundred thousand Saudi riyals in the event that you publish or share any information that you obtained through your membership in the Expert’s portfolio with any party. Dawul app shall have the full right to claim compensation for all actual and potential damage, and file a complaint to any official body as its sole discretion.

i.      You shall acknowledge that if you wish to change the Expert, you will bear all additional change fees as specified by Dawul app. Dawul app shall have the right to change these fees periodically.

3.3  Conflict of Interest:

A conflict may be occurred between your interests and those of the slaves. You shall accept that and acknowledge that the application and its partners do not bear any responsibility for any investment decisions you take arising from your use of this application with the presence of this conflict, or any financial damages that may arise from you as a result of these decisions. You shall also know that Dawul app has taken the required steps to ensure your fair treatment in accordance with the provisions of Article No. (41) of the Authorized Persons Regulations, by disclosing to you this conflict of interests.

3.4  Membership Fees:

a.     Dawul services needs monthly or annually membership’s fees according to your choice to benefit from its services, what is specified and approved in the application, while preserving the right of Dawul to amend these fees from time to time according to its absolute discretion after notifying the follower of that modification.

b.     Membership’s fees shall be paid by using the registered payment method in the application (Mada – Visa – MasterCard – Apple B – iTunes or any other added method).

c.     The monthly and annual memberships shall be automatically renewed according to choice, and the automatic membership shall be canceled as explained in the application.

d.     If you choose a monthly or annual payment, the payment due date shall be on the same day of the membership every month or year.

e.     Dawul shall have the right to raise the membership fees at any time.

       Membership amounts of all kinds (monthly/semi-annual/yearly) shall be non-refundable and you shall not be entitled to claim it back.


3.5  Delete and Remove the Account:

a.     If you want to delete your account from the application, you can delete the account directly at any time you like.

b.     In the event that you want to delete your account from the application, you can delete the account directly at any time you wish, noting that the remaining balance will be kept if there is any balance for a period of 6 months

c.     We can remove your account or comment from the app at any time at our discretion. You shall not have the right to a refund of any financial dues to Dawul app in the following cases, but not limited to:

      Incorrect Data and Information

      Upon the request of the Capital Market Authority.

      If you violate the terms and conditions.

      If you publish or share any information that you obtained through your membership with the Expert.

      Any reason which requires that your account shall be removed.

3.6  Alerts:

a.     Dawul sends all alerts and notifications to the portfolios that have a membership to (purchase of securities – sale of securities – deposit – withdrawals – cash dividends) on your application.

b.     If you did not receive, any notification about any transaction that has been carried out, this does not mean that that transaction was not carried out. You shall also acknowledge that we do not guarantee that the notice will be sent to you. We shall not bear any responsibility related to that matter. You shall acknowledge that you shall follow the application from time to time to know the updates of the portfolios.


4.     App Changes and Amendments:

We may stop any of our services, functions, or features at any time with or without any notice. However, we may send a message to you in accordance with our privacy policy regarding any change or amendment made to the application or our services.


5.     Users Behaviors:

5.1  You shall agree not to misuse the information. You also may not copy contents including but not limited to photos, numbers and documents without our written permission, consent of approval.

5.2  You shall agree that you will not use any automated device, any data extraction tool or software to access, send or download any part of the application, engage in subversive or harmful activities on the Internet, or gain or attempt unauthorized access to non-public areas of the application.

5.3  As a condition of using Dawul app, you shall guarantee that you will not use the app for any purpose that is unlawful under any law currently in force inside or outside the Kingdom of Saudi Arabia or prohibited under these terms, including specified and implied terms. In addition, the application may not be used in any way that may harm, disrupt, overburden, or weaken the app or interfere with any other party’s use and / or enjoyment of the app. You shall refrain from obtaining or attempting to obtain any materials or information through any means that we did not intentionally make or provide through Dawul app or use the application or services to copy, store, host, broadcast, send, use, publish or distribute any material that consists of (or associated with) any spyware, computer virus, or other harmful computer software. You shall also agree that you will not undertake any systematic or automated data collection activities (including but not limited to data mining, data retrieval and data collecting) on or in connection with the application or our services without our express written consent. You also shall not enter or otherwise interact with the application using any robot or any other automated means, and shall not use the collected data from the application.

5.4  To benefit from the application’s services, you need to have a smartphone and a mobile number that meets the requirements for using Dawul app. Dawul app shall perform all the development of the automated system and its programs and shall amend or stop the automated system and its programs to develop or stop and update copies of its programs. You shall realize that Dawul app shall not bear any responsibility for all the results and responsibilities arising from this suspension or update, including the incompatibility of any of the customer’s devices with all or some of its services and the updates that come to it.


6.     Failure to Supervise or Regulate:

You shall agree that we are not responsible for the incorrect information and data of the slave in the application that you choose to deal with. We do not have a duty to examine the information that you can read, follow or publish. We shall have the right to refuse to publish or request to amend the provided content or cancel the account in case of the violation of the terms and conditions. We shall have the right to remove any account that is in violation for any reason at any time without any prior notice.




7.     Privacy:

You shall be aware that the application collects, stores and uses your personal information in accordance with its privacy policy. Personal information means information that can be used to identify you as an individual. The type of the collected personal information from users may vary depending on the type of activity you undertake. We collect your personal information at the time you create your profile on the application, fill out an application form, send a message to us, report a problem or request technical support. Personal information shall include information such as your credit card number, full name, date of birth, contact details, government issued ID, passport, etc. If you use our application, we may automatically collect some information such as your device name, IP address, browser type, operating system details, geolocation details etc.


8.     Ownership and Intellectual Property:

a.     MISSAN Technology Company is the owner of all copyrights for the available content on the website and application (Dawul) and includes:

1)     All documents and materials related to the provided services.

2)      All text, information, data, graphics, plans, graphic tools, images, videos, fonts, sounds, HTML code, designs, options and arrangements for the site, in addition to all the destinations that the site contains.

3)     By submitting or sending any material that contains any text, information, data, graphs, graphic plans, graphic tools, pictures, videos, fonts, music, or sounds (for Dawul), the user shall acknowledge the granted intellectual property rights by the system to Dawul permanently and exclusively.

4)     MISSAN Financial Technology Company is the owner of the trademark Dawul, and any unauthorized use of the trademark shall be considered a violation of intellectual property rights.

b.     By using Dawul, you do not acquire intellectual property rights over Dawul and its contents. Moreover, there will be no transfer of ownership rights from you to us or from us to you as a result of this agreement. Our name, logo, service marks, eye-catching words, marks, phrases and all other content on the app shall be protected by copyright, trademarks, database and other intellectual property rights.


9.     A License to host your own content:

We do not allow infringement of intellectual property rights. We shall have the right to remove any content that violates intellectual property rights that is notified to us. If you believe that, there is a violating material on the application, please contact us via the mentioned email at the bottom of this page with the following information:

a.     Name and Address of the Complainant.

b.     A description of the infringing materials and their printed screen.

c.     Sufficient information to determine which works are protected by copyright

d.     A statement from the owner that he has a good faith that there is no legal basis for using the complained material.

e.     A statement that the provided information in the application is correct and a statement that the Complainant is the owner of the intellectual property rights or is authorized to act on behalf of the owner.


10.  Limited Use:

Copying or reproducing the application, its contents or any part thereof on any other server or site shall be expressly prohibited because copying or redistribution shall be expressly prohibited. You shall agree not to reproduce or copy the content from the application and you shall agree to comply with all copyright and other displayed notices on the application. You may not decompile, disassemble, reverse engineer, or attempt to discover any source code present on the application. Without limiting the foregoing, you shall agree not to reproduce, copy, sell, resell or exploit any part of the services for any commercial purposes.


11.  License to Use Our Services:

11.1                  By using the application, you agree that we shall have no obligation or liability for deletion, corruption, or failure to store any content uploaded or transmitted through or by the application. You also understand and agree that our functions and services may change at any time without any prior notice to you.

11.2                  We shall have the right to restrict your access to the application and / or services at our sole discretion. You shall not circumvent or attempt to circumvent or bypass any of these restrictions.


12.  Guarantees and Disclaimers:

12.1                  This application is provided to you on an “as is” and “as available” basis. We do not provide any express guarantees or guarantees about this app. To the permitted extent by law, our partners and we disclaim our liability from the implied guarantees, including any guarantee that the application is or will be marketable, of satisfactory quality, accurate, timely, fit for a specific purpose or need, or non-violating. We do not guarantee that this application or its content will meet your needs, be error-free, reliable or will operate without interruption. You shall agree that our partners and we shall not be liable to you in relation to any loss or damage (including direct, indirect, special or consequential losses or damages) that you may suffer or incur or may arise directly or indirectly from your use of the application or take advantage of the provided services by Dawul app.

12.2                  Our partners and we shall not accept any liability for any loss or damages and compensation for them, whatever their cause (including through negligence), which you may suffer directly or indirectly in connection with your use of this application or any transaction that arises from your use of the application. We shall not accept any liability for any such loss arising from your use of the contained information in or through this application.

12.3                  You shall take your precautions to ensure that the process you use to access this application does not expose you to the risk of viruses or any other form of interference that may harm your device system. To remove suspicion, we do not accept responsibility for any interference or damage to your device system that arises in connection with your access to this application.

12.4                  While we have no reason to believe that any contained information in this application is inaccurate, we do not guarantee the accuracy, sufficiency or completeness of this information. We and our partners do not accept responsibility for losses you incur arising from your reliance on the accuracy or timeliness of the contained information in this application.

12.5                  We and our partners shall not be responsible for any loss or compensation for any loss whatsoever that the user may suffer including, but not limited to, economic loss, for reliance on guidelines or comments from our Help Center, Dawul employees or Experts registered in Dawul.

12.6                  Our partners and we shall not be responsible for damages arising from the use of electronic means of communication, including, but not limited to, damages arising from delay or failure in the delivery of electronic messages, alerts, interception or manipulation of electronic communications by a third party, or the used computer programs to send electronic messages and viruses.


13.  Liability Limits:

13.1                  Under no circumstances shall Dawul, its officials, directors, employees, agents, representatives or partners be liable for direct, indirect, incidental, special, consequential or exemplary damages (even if they knew or shall have known about the possibility of such damages) including, but not limited to, if the damages arise from the use of the application, its misuse, the inability to use the application, the interruption, suspension, amendment, change, or termination of the application. These restrictions shall apply to the maximum extent permitted by law.


13.2                  We shall not be responsible for the unavailability of the application during the periodic maintenance operations or any unplanned suspension that may occur for technical reasons or for any reason beyond our control.

13.3                  These limitations and disclaimers of guarantees and exclusions shall apply regardless of whether the damages arise from (a) breach of agreement, (b) breach of guarantee, (c) negligence or (d) any other cause of action, to the extent that such exclusion and limitations are not prohibited by the applicable laws.

13.4                  The maximum commitment on the part of the emerging Dawul under any circumstances shall be limited to the fees that Dawul imposes on you..


14.  Your Notes and Guarantees:

You shall acknowledge and guarantee to us the following:

14.1                  This Agreement shall be duly and correctly executed and received by you and shall be constituted your legal, valid, binding and enforceable obligation against you in accordance with its terms.

14.2                  You shall have the full right, authority and power to enter into the terms and conditions of this agreement, shall abide by the terms and conditions and shall carry out your obligations under this agreement, without the consent or approval of any other party.

14.3                  You shall have sufficient right, entitlement and interest in and the granted rights to us in this Agreement.

14.4                  All the provided information by you to us in relation to your use of our services shall be correct and complete in all personal and material respects and shall remain updated if it changes.

15.  Compensation:

You shall agree to compensate Duwal and not harm its employees, representatives, agents, representatives, partners, and affiliate companies against any and all claims, lawsuits, procedures or other actions filed against them based on or arising from any claim arising from your breach of this agreement, or your violation of any law or the right of another party or any claim that the use of our services has caused harm to a third party or your use of the application or services or your data. You shall pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys’ fees and granted costs to us or incurred by us in connection with or arising from such claim, lawsuit, actions or procedures. We shall have the right, at our sole discretion and at our own expense, to assume the exclusive defense and control of any claims. You shall agree to cooperate reasonably in the defense of any claims.


16.  Selling or Transferring the Application:

You shall acknowledge that MISSAN Financial Technology Company, as the owner of the Dawul application and services, may choose to transfer and sell the application and / or subcontract the rights of the administration or any part or all of the provision of the application or services to a third party, without sending you a notice. We are under no obligation to inform you of the cancellation. If we notify you, we are under no obligation to provide any reason for your cancellation.


17.  Termination and Suspension:

The termination and suspension clause shall govern the termination of your account with us. In this case, if you are using our services under the service agreement, the termination shall subject to the service agreement.


You or we may terminate this Agreement with or without cause at any time and be effective immediately. Without prejudice to other available means to Dawul under this agreement, or under applicable law, we may restrict your activity, either temporarily or indefinitely, suspend or terminate your registration, and / or refuse to grant you access to the application in the following cases:

a.     You breach this agreement and / or the documents it contains by reference,

b.     We are unable to verify or authenticate any provided information by you,

c.     We believe that your actions may violate the rights of any third party, violate any applicable law, or lead to any liability towards other users and / or trades.

d.     If the user violates the contained terms or documents in the agreement by reference.

You agree that we may, under certain circumstances and without prior notice, terminate your registration and your ability to access the application immediately. Reasons for termination may include, but are not limited to, breach of conditions, enforcement requests or government authorities, and non-payment of Dawul fees.


18.  Customer Instructions and Complaints:

18.1                  Dawul app shall have the right, but not the obligation, to investigate complaints against any violations of these terms or any other user policy. You shall acknowledge and agree that Dawul Arbitration shall act in its sole discretion to investigate violations of its policies. Violations may lead to termination of your account and / or immediate adjustment of the involved transactions.

18.2                  Dawul app shall have the right to save your conversations with Dawul via chat, and these saved conversations produce their effects against you as if they were written instructions.

18.3                  Dawul may, without obligation or enforcement, and as it deems appropriate in good faith, take the necessary steps to investigate and verify the person communicating with Dawul and its description. If Dawul has the slightest suspicion towards the user or suspects that the security procedures have been breached or a hacked password. Dawul may refrain from implementing its instructions and / or suspend the suspected account of being hacked.

18.4                  Dawul shall have the right to reject any instructions or inquiries that Dawul receives from the customer or user through the application for any compelling reason.


19.  Risk Management:

The Master shall acknowledge its knowledge and aware of the associated risks with using the application and follow-up of the slaves accounts and the Dawul operations and information that take place within the portfolio. The investor shall acknowledge its knowledge that the performance of any investment and the returns on securities in particular. In the event that they exist, they may fluctuate, and all investments are subject to risk or potential loss, and this may lead to the loss of part or all of the invested capital. The refunds of the invested capital can be less or there may be no refunds of the invested capital. The investor shall be aware of the investment mechanisms that avoid from falling into risks and enable to make the best investment decisions.

In order for the investor to be aware, the investor shall know the following:

·       The balancing between risks and returns.

·       Choosing the correct distribution of investments.

·       Diversification when creating an investment portfolio.

·       Monitoring the investments.


By accepting to have a membership in the application, you shall acknowledge that you have sufficient awareness to invest in securities. You shall also acknowledge that the published material here is for general information purposes only, and shall not be considered a recommendation to buy or sell any security.

20.  Entire Agreement:

This agreement by reference shall include the agreement of the terms and conditions and the privacy policy that together with this agreement shall constitute the full understanding between the two parties and shall replace all previous data, agreements, statements and understandings, whether verbal or written.


21.  Parties Relationship:

The parties are independent contractors. This agreement shall not create a joint venture or partnership.


22.  Amendment:

You may not amend or waive any provision of this agreement unless this amendment is in writing and signed by both parties.


23.  Waiver:

If we fail to exercise or enforce any right or provision of these Terms, this shall not constitute a waiver of that right or provision. We shall have the right to exercise our right at any time, as the case may be.


24.  Compliance with Laws:

When using our services, you shall comply with all applicable laws and regulations, and without limitation, you shall not use the services (or allow their use) in connection with any scheme or fraudulent purpose.


25.  Law Enforcement:

You shall authorize us to provide any information or to comply with any request related to you or your account as requested by a government authority, Capital Market Authority or any judicial or quasi-judicial bodies or authorities. We shall not be obligated to verify the identity or authority of any government authority or judicial or quasi-judicial bodies or authorities, if we confirm in good faith, that this action is legal.


26.  Notes:

All notices and communications (including those related to changes in terms, privacy policy, termination of service, etc.) shall be written in Arabic Language. These notes shall consider received, if these notices are delivered personally or by sending these notices via email (with full acknowledgment of the transmission) on com@dawul.net

With regard to technical support for the application, or questions and inquiries, contact customer service through the dedicated chat from within the application.


27.  Headings or Titles:

Headings and subheadings shall be included here for convenience and identification only and shall not be intended to describe, interpret, limit or limit the scope or extent of this agreement and terms of service / terms and conditions.


28.  Clauses Independence:

If it appears that, any provision of these terms and conditions is invalid or unenforceable in whole or in part. This failure to implement shall be attached only to this provision or part of this provision. The remaining part of this provision and all other provisions of these terms and conditions shall remain in effect.

29.  Miscellaneous:

      Dawul users shall comply with all laws, regulations and rules of combating money laundering and terrorist financing in the Kingdom of Saudi Arabia.

30.  Governing Laws:

This Agreement including, among other things, the privacy policy, terms and conditions, and documents that are included through the reference, which are drafted in accordance with the laws of the Kingdom of Saudi Arabia without reference to conflict of laws principles, shall subject to this agreement. The arising disputes in this regard shall be referred to the exclusive jurisdiction of the judicial or quasi-judicial bodies or authorities in Riyadh, Kingdom of Saudi Arabia.

31.  MISSAN Financial Technology Company (Disclose):

A Saudi Limited Liability Company officially registered in the Kingdom of Saudi Arabia under the Name (MISSAN Financial Technology Company) and registered in the Commercial Register in Riyadh City under No. (1010634713), dated on 29/04/2020. MISSAN is an authorized company by the Capital Market Authority Saudi Arabia to experiment with financial technology to test the (Social Trading) technology in securities. The Company manages and operates the authorized Dawul application by the Capital Market Authority Saudi Arabia.