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General 

This agreement governs your use and access to this website (“Platform” or “Website”), operated by The Alternative Limited operated by The Alternative Bank Limited (“Alternative Bank”, “Our”, “Us”). Additional terms and conditions of use applicable to specific areas of the Platform may also be posted in such areas and, together with this agreement, govern your use of those areas. This agreement, together with any such additional terms and conditions, are referred to as this “Agreement.”  

By using the website you indicate that you accept these Terms and Conditions. If you do not wish to be bound by these Terms and Conditions, do not access or use the Website.

Modification 

We may modify these Terms and Conditions from time to time, and such modifications shall be effective immediately upon posting on the Website. You should check these Terms and Conditions periodically so that you are aware of such modifications, as your continued access or use of the Website will demonstrate your acceptance of the Terms and Conditions as modified. If you do not accept any modifications, you should not access or use the Website.

Registration 

You will be able to access materials and information on our services on the Website without going through a registration process. However, you would be required to complete a registration process to enable us to grant you access to certain parts of the website. 

Access to the Website 

We endeavor to make the Website available uninterrupted and fault free. However, we will not be liable if for any reason the Website is unavailable at any time or for any period. Access to the Website may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for any other reason. Nature Of Information On our website 

• All information on our website are only intended to provide you with general information about us, our products, services and objectives. Nothing on the website should be treated as an offer but merely as an invitation to do business with us. 

• All information is provided “as is” and should not be treated as professional or investment advice of any kind. You should consult your own professional advisors before relying on any information on this site. 

Content and Intellectual Property Rights

We retain all copyright and other intellectual property rights in all material, including logos and other graphics and multimedia works published on or via the Website. All content and works (including design, text, graphics and the selection and arrangement) on the Website are exclusively owned by us or licensed/authorized for our use.  

• You are prohibited from reproducing in any form, any part of the content, information, imagery or data from, or underlying, the Website, save for in strict compliance with these Terms and subject always to our prior written consent. 

• Without limiting any rights you have in your personal data, in relation to any information or material you send to us using this Website, you hereby grant us a worldwide, royalty-free, perpetual license to the copyright and other intellectual property rights in such information or material for any purpose we consider appropriate including, without limitation, copying, sending, distributing or publishing the same, unless where restricted by law. 

• You agree that we shall not be under any obligation of confidentiality to you regarding any such information or material submitted to us using the Website unless agreed otherwise in a separate agreement between us or as required by applicable law.   

Your Privacy

We take the privacy of our Users very seriously. You understand that by using the Services, you consent to the collection, use, storage, and disclosure of your information. For information on how we use your data, please refer to our Privacy Policy. 

Permitted Use and Access

• You are permitted to use and access the Website on a personal, non-commercial basis. You may not copy or make commercial use of the Website or any of the content including, but not limited to, information, imagery or data from, or underlying, the Website without obtaining our express written permission to do so. 

• You may download and/or print material from the Website for personal, non-commercial use, provided that you do not modify any downloaded or printed documents or any part thereof; Provided that: 

• you do not remove copyright, trademark or other intellectual property notices on any downloaded or printed document, or act in a way to cause or risk causing infringement, a weakening of, or damage to or our brand, intellectual property or business;   

• you do not replicate any content, information, imagery or data from, or underlying, the Website and use it in such a way as to cause or risk causing confusion or an association as between you or your activities (or a third party or their activities) and us and our activities, including but not limited to phishing; 

• you do not use any content, information, imagery or data from, or underlying, the Website in such a way as to cause or risk causing harm or detriment to us or our business, brands or activities; 

• you do not remove, distort or otherwise alter the size or appearance of any content; 

• you do not misrepresent your association or dealings with us; 

• you do not present, disseminate or make available any false or misleading information about us; 

• you do not use the material or act in a manner so as to associate or risk associating us with any content which is or might be harmful, including without limitation material which is offensive, threatening, obscene, abusive, discriminatory, defamatory, in breach of confidence, in breach of privacy, infringes any intellectual property rights or other rights of any third party or otherwise does not comply with all applicable laws and regulations; and 

• you do not use the Website or any of its content, information, imagery or data from, or underlying, the Website, in any manner which is associated with or for the purposes of hosting, disseminating, or propagating malicious software or code, including but not limited to viruses, malicious script, spyware, Trojan Horses or worms. 

• You may, subject to these Terms, create links to the Website, whether via social networks or otherwise, provided that you do not create a frame, browser or other border environment around the Website.  

Limitation on Use

You agree to use the Website only for lawful purposes. You are prohibited from any use of the Platform that would constitute a violation of any applicable law, regulation, rules or regulation. Any unauthorized use of the Platform, including but not limited to unauthorized entry into Snapcash systems, misuse of passwords, or misuse of any information posted on the Platform is strictly prohibited.  

Disclaimers and Limitation of Liability

• We accept no liability, no matter how that may be caused, and whether directly or indirectly, for any loss or damage caused to you or another (including but not limited to loss of income, business, profits, opportunity, contracts, actual or anticipated savings, data, reputation or goodwill) arising from your use of the Website. 

• We have no liability for changes made to the Website or its content by unauthorized third parties. 

• We hereby exclude any express or implied warranties that any material used or downloaded from the Website will not cause loss or damage to any data or property, such as software or hardware, including but not limited to loss or damage caused by malicious script, viruses, spyware, Trojan Horses or worms. We accept no liability for any such loss or damage suffered by you or another as a result of your use of the Website. 

• You assume all responsibility and risk with respect to your use of the Website. The services are provided and available “as is,” and “as available”. You understand and agree that, to the fullest extent permitted by law, we disclaim all warranties, representations and endorsements, express or implied, with regard to the Platform, including, without limitation, implied warranties of title, merchantability, non-infringement and fitness for a particular purpose. 

• We do not warrant use of the Platform will be uninterrupted or error-free or that errors will be detected or corrected. We do not assume any liability or responsibility for any computer viruses, bugs, malicious code or other harmful components, delays, inaccuracies, errors or omissions, or the accuracy, completeness, reliability or usefulness of the information disclosed or accessed through the services. 

• You acknowledge that third party services are available on the Platform. We may have formed partnerships or alliances with some of these third parties from time to time in order to facilitate the provision of certain services to you. However, you acknowledge and agree that at no time are we making any representation or warranty regarding any third party’s services, nor will we be liable to you or any third party for any consequences or claims arising from or in connection with such third party including, and not limited to, any liability or responsibility for, death, injury or impairment experienced by you or any third party. You hereby disclaim and waive any rights and claims you may have against us with respect to a third party’s services. 

• We do not, in any way, endorse any information or service offered or described on the Platform. In no event shall we be liable to you or any third party for any decision made, or action taken in reliance on such information. 

• In no event, under no legal or equitable theory (whether tort, contract, strict liability or otherwise), shall we or any of our respective employees, directors, officers, agents or affiliates, be liable hereunder or otherwise for any loss or damage of any kind, direct or indirect, in connection with or arising from the use of the Platform / services or our agreement with you concerning the services, including, but not limited to, (i) the use of or inability to use the Platform, the service, or the content, (ii) any claim attributable to errors, omissions, or other inaccuracies in the Platform, the service and/or the content (iii) unauthorized access to or alteration of your transmissions or data, or (iv) any other matter relating to the Platform, the service, or the content, and any compensatory, direct, consequential, incidental, indirect, special or punitive damages, lost anticipated profits, loss of goodwill, loss of data, business interruption, accuracy of results, or computer failure or malfunction, even if we have been advised of or should have known of the possibility of such damages. 

Modifications to These Terms

• We may change these terms from time to time. This is solely at our discretion and changes will be effective when posted on the Platform with no other notice provided. Please check the Terms regularly for updates as changes shall be effective immediately, and we may indicate the date of such revision. 

• In addition, we may change, suspend or discontinue any aspect of the Services at any time, including the availability of any feature, or content. We may also impose limits on certain features and service or restrict your access to parts or all of the Website or the Services provided thereon without notice or liability. 

• You are free to decide whether or not to accept a revised version of these Terms, but accepting these Terms, as revised, is required for you to continue accessing or using the Platform and Services. If you do not agree to these Terms or any revised version of these Terms, your sole recourse is to terminate your access or use of the Services. Except as otherwise expressly stated by us, your access and use of the Services are subject to, and constitute your acceptance of, the version of these Terms in effect at the time of your access or use. 

Third Party Links

• The Website is designed to be accessed via its main home pages and such other pages as we may determine. If you access other pages on the Website directly, for example via search engines or via links provided by third parties, you may not see important information relevant to the page in question, or other announcements or information which may be important to you. 

• The Website contains links which will direct you to other websites or domains owned and operated by us or our group, for example to websites which offer you services. When you use these links and access our other websites or domains you will become subject to the terms, conditions and policies which apply to those websites or domains. Those terms, conditions and policies will be available for you to view on those websites or domains, and it is your responsibility to make sure that you are familiar with and willing to accept them. We accept no liability, no matter how that may be caused, for any failure on your part to view or comply with those terms, conditions and policies. 

Force Majeure 

To the fullest extent permitted under applicable law, we will be excused from performance under these Terms for any period that we are prevented from or delayed in performing any obligations pursuant to this Terms, in whole or in part, as a result of a Force Majeure Event. For purposes of this section, “Force Majeure Event” means an event or series of events caused by or resulting from any of the following: (a) weather conditions or other elements of nature or acts of God; (b) acts of war, acts of terrorism, insurrection, riots, civil disorders or rebellion; (c) quarantines or embargoes, (d) labor strikes; (e); (f) unauthorized access to our  information technology systems by third parties; or (g) other causes beyond our reasonable controland contemplation. 

Indemnity  

You agree to defend, indemnify, and hold The Alternative Bank,  its employees, officers, directors, agents, its affiliates and third-party service providers harmless from and against any and all claims, suits, liabilities, damages (actual and consequential), losses, fines, penalties, costs, and expenses (including reasonable attorneys’ fees) arising from or in any way related to any claims relating to your use of the Website, violation of these Terms, applicable law or any third-party rights or claims, or your fraud or wilful misconduct. Such indemnified parties reserve the right to assume the exclusive defence and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defences. 

Severability  

If any of these Terms is judicially determined to be illegal, unenforceable, or invalid in whole or in part for any reason, such illegal, unenforceable, or invalid provisions or part(s) of the same shall be stricken from this terms, and such provision shall not affect the legality, enforceability, or validity of the remainder of these Terms. The stricken provision maybe replaced, to the extent possible, with a legal, enforceable, and valid provision that is as similar in term to the stricken provision as is legally possible. 

Dispute Resolution 

We will use our best efforts to resolve any issue that may arise from the use of the Platform. However, we realize that there may be rare cases where we may not be able to resolve an issue to your satisfaction. In the event we cannot resolve a dispute between us, you agree that all matters related to any use or access to the Platform, or the services shall be referred to Mediation. 

Governing Law 

These Terms and your use of the Platform shall be governed by the laws of the Federal Republic of Nigeria, without giving effect to the principles of conflict of laws. 

Capacity to Enter into These Terms

You hereby warrant to us that you have the required legal capacity to enter into and be bound by contractual terms. Minors must be assisted by their legal guardians when reading these conditions. If you are unsure whether you have the legal capacity to enter into agreements, contact someone able to provide you with this information before you continue using this site. 

Contact Us

If you have any inquires regarding our services, these Terms or the Website, you may reach us by sending a mail to [email protected] and include the following information: your name, telephone number and a description of your concern or calling us on 01-7000555

Our promise is to prioritise you above all else, cater to your unique needs and go beyond your expectations, always!

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Copyright © 2024, The Alternative Bank.

Licensed by the CBN 

The Alternative Bank is an independent financial organization in the Non-interest Banking (NIB) sector. If you receive services from, or if you have any other questions, please reach out to us via any of our contact channels. Registered address: Sterling Towers, 20 Marina, Lagos Island, Lagos. Financial operations on the Alternative Bank is authorised and regulated by the Central Bank of Nigeria. License to commence operations was granted in 2014. Trading and investment products provided by  the Alternative Bank is wholly owned.

We are dedicated to ensuring adherence to Non-Interest Banking principles through the appointment of an Advisory Committee of Experts (ACE). The ACE is tasked with the review and approval of all our products and processes after ensuring full compliance with NIB principles.

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Abubakar Muhammad Musa

Summary

Abubakar Muhammad Musa is currently a Sharia Advisor and Consultant for SHAPE Knowledge Services a consulting firm based in Kuwait. He has been involved in product development, Sharia research and approval of Islamic banking products for different clients. His work covers retail banking, corporate banking and project finance deals.

Formerly, Abubakar worked as a Researcher in different units at International Shariah Research Academy for Islamic Finance (ISRA) in Kuala Lumpur, Malaysia. Besides his primary assignments in ISRA, he taught Shariah Rules in Financial Transactions to Chartered Islamic Finance Professional (CIFP) Masters online Students of International Centre for Education in Islamic Finance (INCEIF), Malaysia. He also taught MBA and BBA Students different Islamic Banking and Finance Subjects at University College of Bahrain.

Abubakar holds two Diplomas with distinction, one in Islamic Law and the other in Arabic Language from Al-Imam University Riyadh. He also holds LLB (Hons) degree in Shariah from the same University. He successfully completed his (CIFP) Professional Masters Degree Programme at (INCEIF), Malaysia. He had his internship program on Islamic Banking & Finance at Fajr Capital in Kuala Lumpur. During the programme, Abubakar conducted research relating to product structuring and market development.

Abdurraheem Ahmad Sayi

Summary

Abdurraheem Ahmad Sayi is a legal practitioner and Consultant of over 16 years of active legal practice. He is currently the principal partner, A.A. Sayi & Co. (Qist Chambers) and Qadi, Independent Shari’ah Panel of Lagos State – a platform, through which he has delivered several judgments of in-depth analysis, widely applauded by leading legal and intellectual icons, including learned Judges, professors of law and Islamic Studies.

He is the Executive Director/C.E.O., ClearPath Islamic Centre (Incorporated), Lekki-Lagos and Chief Imam, SilverPoint Central Mosque, Badore, Ajah-Lagos. Fondly called Imam Sayi, Abdurraheem is the designate Chairman, Shari’ah Advisory Committee, Mutual Benefit Takaaful.

Imam Sayi has also authored a few works, some of which include: The Financial Obligations: a compendium of essays on monetary or material obligations under Islamic Law and Waqf (Charity Endowment): The Governing Principles.

He holds a Certificate on Improving Personal Effectiveness from the Lagos Business School (Pan African University) and he is a recipient of numerous awards and certificates of merits.

Abdulkader Thomas

Education:

Master of Arts Law and Diplomacy, The Fletcher School of Law & Diplomacy.

Bachelor of Arts Arabic & Islamic Studies, The University of Chicago.

Shariah Board Experience:

Bank Muscat Meethaq (2013 – 2017)

Sterling Bank Nigeria (Since 2013)

University Bank, USA (Since 2006)

Summary

Abdulkader Thomas has over 35 years of diversified financial services experience in major markets. With a Master of Arts Law and Diplomacy from The Fletcher School of Law & Diplomacy and a BA in Arabic & Islamic Studies from The University of Chicago. His areas of activity have included trade finance, real estate finance, securities and alternative finance.

As the general manager of a foreign bank branch in New York, he secured the first US regulatory approvals of Islamic mortgage and instalment credit/sale as banking instruments. Later, he secured US regulatory approval for profit sharing deposits. Abdulkader has been involved in the successful implementation of these products in the US market. With more than 17years Shariah Board Experience in Bank Muscat Meethaq, Sterling Bank Nigeria and University Bank USA, Abdulkader has worked on IFTA projects in Europe, Africa, Southeast Asia, and an authority on Islamic deal structures and securities.

He also serves as a director of Alkhabeer Capital in Jeddah and Chairman of Alkhabeer (DIFC). He is a member of the international advisory board of the Securities Commission of Malaysia, a published author, and an active speaker on Islamic finance.