Legal
The four contracts. Published before you sign, not during.
Each document is versioned and carries an effective date. Where a version is superseded, the previous one stays available — a contract you signed under should not disappear because it was replaced.
Documents
Arabic and English are the same document in two languages, not a translation of a summary. If they ever diverge, the Arabic governs.
Kafalah bi-al-Ajr — guarantee for a fee
The guarantee facility: 90% coverage to a KD 500 ceiling, at a flat annual fee that is not apportioned by amount or time.
KD 40 · Arabic and English
Ijarah — lease
The card, the app, hold tracking, servicing and support, for a determinate 12-month term.
KD 25 · Arabic and English
Wakalah bi-al-Ujrah — agency for a fee
Appointment of the retained legal panel as your agent in examining and answering a merchant's claim.
KD 10 · Arabic and English
Ujrah — cost pass-through
Visa Platinum scheme fees, passed through without mark-up.
KD 5 · Arabic and English
Wa'd — undertaking to repay at cost
Your binding undertaking to repay us exactly what we pay, if we settle a valid claim on your behalf. No price attaches to it.
No charge · Arabic and English
Sharia Supervisory Board ruling
Submitted for ruling. It will be published here, signed, on the day it is issued.
Submitted for ruling
Why five documents and not one
Because each charge has to be demonstrably attached to an identifiable service. One combined agreement with one combined price would make that impossible to check — which is the whole objection the structure exists to answer.
How to read them
Start with the Kafalah: it is the contentious one and everything else supports it.
Then the Wa'd, because it is the only document that creates an obligation on you.
The Sharia page sets out the argument the structure rests on, in plain language, if you would rather read that first.
Registration with the Central Bank of Kuwait is in progress. We are not yet authorised to issue cards.
Our four-contract structure has been submitted to an independent Sharia Supervisory Board for ruling.
BIN sponsorship is under negotiation with a Visa principal member.
Depozit does not offer credit. There is no credit line, no revolving balance, and no interest charged or paid on any part of this product. The guarantee covers 90% of the KD 500 ceiling; the remaining KD 50 is the cardholder's own responsibility.