1. THE WAAFI CARD PROGRAMME

1.1 The Bank

Salaam Somali Bank is the issuer of your Card and remains responsible for the Card programme as the issuing institution. The Bank is responsible for the programme subject to applicable law, regulatory requirements, Mastercard rules and the arrangements between the Bank and WAAFI.

1.2 WAAFI

WAAFI is the programme manager and service provider for the Card programme. WAAFI may act on behalf of the Bank in relation to:

• Card applications and onboarding;
• customer service;
• Card management;
• funding and top-ups;
• transaction information;
• operational support;
• technology and the WAAFI App;
• communications;
• fraud monitoring; and
• other Card programme activities.

WAAFI may, on behalf of the Bank and subject to the Bank’s oversight and applicable law, perform certain functions relating to Card application, onboarding, customer servicing, Card management, Card funding, transaction information, operational support, technology, communications, fraud monitoring and other programme-related activities.

Where these Card Terms say that the Bank may take an action, WAAFI may take that action on the Bank's behalf where applicable.

1.3 Mastercard

The Card operates on the Mastercard payment network and may carry Mastercard branding. Mastercard International Incorporated and/or its relevant affiliates provide payment-network services and license the Bank to issue Mastercard-branded Cards, subject to Mastercard rules and standards.

1.4 Other service providers

The Bank and/or WAAFI may use third-party service providers to support the Card programme. These providers may assist with:

• Card production;
• payment processing;
• transaction processing;
• security;
• fraud monitoring;
• authentication;
• technology; and
• other Card-related services.

Where disclosure is required, the relevant provider will be identified in the applicable product documentation or privacy notice.

1.5 The WAAFI App

The WAAFI App is the digital platform through which you may, where supported:

• request a Card;
• activate a Card;
• manage your Card;
• fund your Card;
• block or unblock your Card;
• view transactions;
• receive notifications; and
• access other Card services.

1.6 Contacting us

You can contact WAAFI about your Card through:

• the WAAFI App;
• the current customer-support channels provided by WAAFI.

You should use these channels to report a lost or stolen Card, a compromised Card, an unauthorised transaction, a dispute or any other Card-related issue.

2. ABOUT YOUR CARD

2.1 What is the WAAFI Card?

The WAAFI Card is a prepaid, multi-currency Card issued by Salaam Somali Bank and operated through the WAAFI Card programme.

You can use the Card wherever Mastercard is accepted, subject to:

• available funds;
• Card and transaction limits;
• merchant acceptance;
• Mastercard rules;
• applicable law; and
• any security or compliance restrictions.

Depending on the Card and services available to you, the Card may be:

• a virtual/digital Card;
• a physical Card; or
• both.

2.2 The Card is not a credit card

The Card is a prepaid payment instrument. It does not provide:

• a credit facility;
• an agreed overdraft; or
• financing.

You should maintain enough available funds for the transactions you intend to make.

A temporary negative Card Balance may nevertheless occur because of matters such as:

• exchange-rate movements;
• temporary holds;
• offline transactions;
• delayed processing;
• reversals;
• chargebacks; or
• final transaction adjustments.

If this happens, the negative balance is an amount due to the Bank. It does not mean that the Bank has provided you with an overdraft or loan.

3. DEFINITIONS

In these Card Terms:

"Funding Account" or "Linked Wallet" means an account or wallet that is linked to the Card or WAAFI service for funding the Card, Auto Top-Up or recovery of amounts properly due.

A Funding Account/Linked wallet may include:

• a WAAFI Wallet operated by WAAFI; or
• a mobile-money account, electronic-money wallet, bank account or other external account operated by another provider.

"Card" means the prepaid, multi-currency Card issued by the Bank under the WAAFI Card programme.

"Card Balance" means the funds available on the Card after taking account of transactions, holds, pre-authorisations, fees and other applicable adjustments.

"Available Balance" means the amount available for immediate use after taking account of active holds and other temporarily unavailable amounts.

"Declined Transaction" means a Card transaction that is not approved or completed.

"Insufficient-Funds Decline" means a transaction declined because the Available Balance is not enough to complete the transaction and Auto Top-Up does not apply or cannot be completed.

"Penalty Fee" means the fixed fee charged for an Insufficient-Funds Decline under Section 7 and the applicable Fee Schedule.

"Attended Transaction" means:

• a card-present point-of-sale transaction;
• an ATM transaction; or
• an online transaction fully authenticated using 3-D Secure,

as determined from the Card and transaction information available to us.

"Shortfall" means the amount by which the transaction amount, including any applicable ATM or processing fee, exceeds the Available Balance when the transaction is submitted for approval.

"Auto Top-Up" means a real-time transfer of the exact Shortfall, up to USD 5.00 for a qualifying Attended Transaction, from an eligible Funding Account to the Card so that the transaction can be approved.

"Pre-authorisation" means a temporary hold placed against the Card Balance before the final transaction amount is received and processed.

"Unauthorised Transaction" means a Card transaction that was not authorised by you and is reported and assessed under the applicable dispute, fraud and Mastercard procedures.

"Recurring Transaction" means a transaction initiated by a merchant on a recurring or subscription basis under an arrangement or authorisation previously given by you.

"Business Day" means a day on which the Bank is open for normal banking business in the applicable jurisdiction, excluding public holidays and other days designated by the Bank.

"Card Status" means the current status of the Card, including:

• PENDING_ACTIVATION;
• ACTIVE;
• BLOCKED; and
• CLOSED.

"Insufficient-Funds Decline Count" means the number used to track Insufficient-Funds Declines and determine whether the Card must be permanently closed.

"Penalty Fee Failure Count" means the number used to track consecutive Penalty Fees that cannot be collected in full.

4. GETTING AND USING YOUR CARD

4.1 Issuing the Card

Subject to eligibility, identity verification, applicable law and the Bank's requirements, the Bank may issue you with a virtual/digital Card, physical Card or both.

4.2 Where you can use the Card

You may use the Card wherever Mastercard is accepted, including, where supported:

• in-person purchases;
• online purchases;
• e-commerce transactions;
• ATM cash withdrawals; and
• ATM balance inquiries.

A merchant, ATM or service provider may nevertheless refuse the Card.

4.3 Funding your Card

You can fund your Card from an eligible Funding Account through the WAAFI App or another supported channel. Once successfully credited, the amount becomes part of your Card Balance.

The funding transaction is subject to:

• the provider's terms;
• the available balance;
• the provider's technical capabilities;
• any required authorisation; and
• applicable law.

4.4 Using different currencies

The Card may support multiple currencies. If you make a transaction in a currency in which you do not have enough funds, we may convert funds from another supported currency balance.

The conversion will use the applicable exchange-rate method and any disclosed foreign-exchange margin or charge. Any applicable International Transaction Fee is separate from any foreign-exchange margin or charge. Both will be shown in the applicable transaction record.

4.5 Approving transactions

Depending on the transaction, Card payments may be authorised using:

• a PIN;
• WAAFI App authentication;
• contactless functionality;
• mobile-device or NFC authentication;
• 3-D Secure; or
• digital-wallet security or authentication.

We may ask for additional verification where reasonably necessary for:

• security;
• fraud prevention;
• compliance;
• Mastercard requirements; or
• applicable law.

5. AUTO TOP-UP

Auto Top-Up may help complete a qualifying transaction when you do not have enough Available Balance.

Auto Top-Up can apply where:

1. the Card is ACTIVE;
2. the transaction is an Attended Transaction;
3. the Card has a positive Available Balance;
4. the Shortfall is USD 5.00 or less; and
5. the eligible Funding Account has enough funds.

If these conditions are met, we may transfer the exact Shortfall from the Funding Account to the Card in real time and approve the transaction.

5.1 When Auto Top-Up applies

Auto Top-Up applies only to:

• card-present point-of-sale transactions;
• ATM transactions; and
• online transactions fully authenticated using 3-D Secure.

It does not apply to:

• recurring transactions;
• subscriptions;
• mail-order transactions;
• telephone-order transactions; or
• online transactions that are not fully authenticated using 3-D Secure.

5.2 Auto Top-Up limit

Auto Top-Up is limited to:

• the exact Shortfall; and
• a maximum of USD 5.00 per transaction.

The first top-up must be completed normally to activate the Card.

5.3 Failed Auto Top-Up

If the Funding Account debit fails or times out, the transaction is treated as an Insufficient-Funds Decline. You authorise the Funding Account debit required for an Auto Top-Up that meets the conditions of this Section.

6. HOLDS AND TRANSACTION PROCESSING

6.1 Temporary holds

Some merchants may place a temporary hold on your Card. This may happen at places such as:

• hotels;
• car-rental companies;
• fuel stations; and
• other merchants that use pre-authorisations.

The amount held may be different from the final transaction amount. A hold temporarily reduces your Available Balance. The release of a hold is subject to the merchant, Mastercard and applicable payment-processing procedures.

6.2 Approved transactions may be processed later

A transaction may be approved first and processed finally at a later time. The final amount charged may therefore differ from the amount initially approved, subject to:

• Mastercard rules;
• payment-processing arrangements; and
• applicable law.

6.3 Amounts that become due

If a transaction, reversal, adjustment, chargeback, currency conversion or other processing event results in an amount properly due to us, you remain responsible for that amount. We may temporarily restrict further Card use while an amount remains unpaid, subject to applicable law and your dispute rights.

7. DECLINED TRANSACTIONS AND INSUFFICIENT FUNDS

7.1 Different types of declines

We distinguish between Insufficient-Funds Declines and declines caused by other reasons. The following do not trigger an Insufficient-Funds Penalty Fee:

• incorrect PIN;
• expired Card;
• fraud screening;
• transaction limits;
• merchant restrictions;
• technical failures; or
• other non-funds-related reasons.

7.2 When a transaction is an Insufficient-Funds Decline

A transaction is an Insufficient-Funds Decline when:

• the Available Balance does not fully cover the transaction; and
• Auto Top-Up does not apply or cannot be completed.

Each Insufficient-Funds Decline increases the Insufficient-Funds Decline Count by one, whether or not the Penalty Fee is successfully collected.

7.3 Penalty Fee

A Penalty Fee may apply to each Insufficient-Funds Decline, as set out in the Fee Schedule. The applicable Penalty Fee is a fixed service and processing charge for handling the relevant Insufficient-Funds Decline. It is not interest, a financing charge, an overdraft fee or a charge calculated based on the time for which an amount remains unpaid.

The applicable amount, including any transaction-value tiers, is set out in the Fee Schedule.

7.4 How Penalty Fees are collected

Penalty Fees are collected on an all-or-nothing basis from a single source. We first try to collect the full Penalty Fee from your Card Balance. If the Card Balance is not enough to cover the full Penalty Fee, we may try to collect the full amount from an eligible Funding Account, subject to the authorisation and provider requirements described in Section 8.

You will never be charged more than the applicable Penalty Fee. Any collected Penalty Fee will appear in the applicable transaction history.

8. FEES, PAYMENT AND RECOVERY

8.1 Fee Schedule

Any applicable fees are set out in the Fee Schedule. You are responsible for paying all fees and other amounts properly due under these Card Terms.

8.2 Payment of Fees and Amounts Due

Fees and other amounts properly due under these Card Terms remain payable even if your Card Balance is not sufficient to cover them.

Unless a different process is required by applicable law, Mastercard rules or the arrangements with the relevant payment provider, we may recover amounts due in the following order:

• from the available funds in your Card Balance; and
• from your Linked Wallet, where available.

8.3 Recovery from a Linked Wallet

If you link a Linked Wallet to your Card, your acceptance of these Card Terms and completion of the account-linking process authorise us to initiate a debit or payment instruction from the Linked Wallet for amounts properly due under these Card Terms.

Any such recovery is subject to:

• applicable law;
• the Linked Wallet provider's terms and conditions;
• applicable payment-service requirements; and
• the Linked Wallet provider's technical capabilities.

If the Linked Wallet provider requires a separate authorisation, you must provide that authorisation before we can recover amounts from the Linked Wallet.

8.4 Recovery in Another Currency

If the amount due is not available in the relevant currency, we may recover the amount from another supported currency balance by converting the amount required using the applicable exchange-rate method. Any conversion will be made solely to settle the amount due and does not constitute a loan, credit facility or other form of financing.

8.5 Limits on Recovery

We will not recover more than the amount properly due under these Card Terms. If we determine that an amount was charged incorrectly, has been waived or refunded, or was otherwise not payable, we will make the appropriate correction or refund in accordance with applicable law and our correction procedures.

9. TRANSACTION LIMITS

We may set limits on the use of your Card. These limits may apply to:

• the number of Transactions you can make within a specified period;
• the total value of Transactions you can make within a specified period;
• individual Transactions;
• particular types or categories of merchants;
• particular Transaction channels or methods of using the Card;
• Transactions made in particular countries or locations; and
• cash withdrawals, purchases, online Transactions or other types of Transactions.

We may also apply different limits to different Cards, Transactions, merchants, locations or channels. Your current applicable limits may be made available through the WAAFI App or other channels we make available to you.

We may change, reduce or increase these limits from time to time for security, fraud prevention, regulatory, operational or other legitimate reasons. Where advance notice is required by applicable law, we will provide that notice. We may make an immediate change where reasonably necessary to address fraud, security risks, legal or regulatory requirements, or payment-network requirements.

We may decline or restrict a Transaction if it would exceed an applicable limit.

10. CARD VALIDITY AND RENEWAL

10.1 Digital Card

A virtual/digital Card is valid for three (3) years unless it is cancelled, suspended or permanently closed earlier under these Card Terms or applicable law.

10.2 Physical Card

The validity period of a physical Card is shown on the Card or in the WAAFI App.

10.3 Renewal

We may renew your Card when it expires, subject to:

• eligibility;
• identity and compliance checks;
• applicable fees;
• product availability; and
• the renewal process communicated to you.

Renewal does not remove or waive any amount properly due.

11. REPEATED INSUFFICIENT-FUNDS DECLINES

We track two separate counters. They do not offset each other, reaching either threshold closes the Card.

11.1 Insufficient-Funds Decline Count

Increases by one for each Insufficient-Funds Decline, including a decline on a BLOCKED Card. Collecting a Penalty Fee does not reset it; an approved transaction (including via Auto Top-Up) does. At 10, the Card is permanently closed.

11.2 Penalty Fee Failure Count

Increases by one each time a Penalty Fee cannot be collected in full. Resets to zero when a Penalty Fee is collected in full, or when a transaction is approved. At 2 consecutive failures, the Card is permanently closed.

11.3 Permanent Closure

Closure under this Section is automatic once either threshold is reached. The warnings in Section 12 serve as your notice of approaching closure, no additional notice period applies. Once closed, Card status becomes CLOSED and cannot be reactivated. Any remaining Card Balance is refunded under Section 13.

12. WARNINGS

We'll notify you, via the WAAFI App, SMS, email, WAAFI chat, or another permitted channel when:

• a transaction is attempted on an unactivated Card;
• your first top-up activates the Card;
• an Auto Top-Up succeeds;
• a transaction is declined for insufficient funds;
• your Insufficient-Funds Decline Count hits 7, 8, or 9, each time, warning that closure is approaching; or
• your Penalty Fee Failure Count first hits 1, warning that one more failure closes the Card.

13. CARD STATUS, SUSPENSION AND CANCELLATION

13.1 Blocked Cards

A BLOCKED Card cannot be used for transactions.

A transaction attempted on a BLOCKED Card:

• will be declined;
• will not incur a Penalty Fee; but
• will increase the Insufficient-Funds Decline Count by one.

If the count reaches 10, the Card will be permanently closed. A BLOCKED Card may also be subject to separate security, fraud or compliance measures.

13.2 When we may suspend, restrict or cancel your Card

We may suspend, restrict or cancel your Card where reasonably necessary, including where:

• you breach these Card Terms;
• fraud or misuse is suspected;
• an unauthorised transaction is suspected;
• applicable decline or dormancy thresholds are reached;
• required identity or customer checks are not completed;
• information provided by you is inaccurate or incomplete;
• action is required by law or regulation;
• a court or regulatory authority requires action; or
• action is required under Mastercard rules.

13.3 Notice of cancellation

Where reasonably practicable, we will provide 30 calendar days' notice before cancellation. We do not need to provide advance notice where immediate action is reasonably necessary because of:

• suspected fraud;
• security concerns;
• legal or regulatory requirements;
• a court or regulatory direction; or
• circumstances where advance notice would be impracticable or inappropriate.

13.4 Remaining balance

Subject to applicable law, compliance requirements and amounts properly due to the Bank, any remaining Card Balance following cancellation will be returned or transferred to an eligible Funding Account within the applicable period required by these Card Terms, Mastercard rules or applicable law.

13.5 Transactions after cancellation or suspension

Cancellation, suspension or permanent closure does not automatically cancel transactions that were already approved. Pending transactions, refunds, reversals, chargebacks and final processing adjustments may continue to be processed where permitted. Closing your Card does not release you from obligations that arose before closure.

14. DORMANCY

A virtual/digital Card with no approved transaction for six (6) months, and with an Insufficient-Funds Decline Count of more than ten (10) during that period, may be subject to restriction or cancellation.

If a Card is cancelled under this Section, any remaining Card Balance will be transferred to an eligible Funding Account within the applicable period required by these Card Terms, Mastercard rules or applicable law, subject to:

• identity verification;
• compliance requirements; and
• amounts properly due to the Bank.

15. REFUNDS

15.1 Merchant refunds

Merchant refunds are normally credited to the Card used for the original transaction. A refund will generally be credited within 14 Business Days after it is received and processed. Some refunds may take up to 30 Business Days.

15.2 If your Card has been cancelled or expired

If the original Card has been cancelled or expired, the Bank may credit a valid refund to an eligible Funding Account or process the refund in accordance with Mastercard and Bank procedures.

15.3 Missing refunds

If a merchant confirms that a refund has been processed but you have not received it within 30 Business Days, you may raise a dispute under Section 16.

16. DISPUTES AND UNAUTHORISED TRANSACTIONS

16.1 Reporting a transaction

You should report any disputed or unauthorised transaction promptly after becoming aware of it. This includes disputes relating to:

• Card transactions;
• Penalty Fees; and
• other fee deductions.

You should report an apparent error within 60 days after the transaction first appears in your transaction history. Where circumstances beyond your reasonable control prevented earlier reporting, we may extend the reporting period where permitted.

We may ask you for transaction details, documents or other evidence reasonably needed to investigate the matter. You must cooperate with reasonable requests relating to the investigation.

16.2 Mastercard rules

Unauthorised transactions and applicable chargebacks will be assessed and processed in accordance with:

• Mastercard rules;
• Bank procedures; and
• applicable law.

17. LOST, STOLEN OR COMPROMISED CARDS

17.1 Report immediately

You must immediately report and subsequently block:

• a lost Card;
• a stolen Card;
• a compromised Card;
• compromised Card credentials; or
• a compromised device,

through the WAAFI App or the current customer-support channels.

17.2 Blocking and replacement

After receiving a valid report, WAAFI may:

• block the Card; and
• where applicable, issue a replacement Card.

Replacement fees and verification requirements may apply.

17.3 Unauthorised transactions

If you report a lost, stolen or compromised Card or Card credentials, your liability for resulting unauthorised transactions will be determined under Mastercard's applicable Zero Liability policy, other Mastercard rules, applicable law and Bank procedures.

Provided that you:

• take reasonable care to protect your Card, PIN and security credentials; and
• report the loss, theft or compromise promptly after becoming aware of it,

you will not be liable for an unauthorised transaction to the extent protected by the applicable Mastercard rules and law.

Subject to applicable law, Mastercard rules and Bank procedures, you will not be liable for an unauthorised transaction occurring after the Bank has received and processed your report.

These protections do not apply to losses resulting from your fraud or gross negligence, including knowingly sharing Card details, PINs, one-time codes or other security credentials with an unauthorised person.

18. YOUR RESPONSIBILITIES

18.1 Transaction records

The transaction history will be evidence of the transactions recorded on the Card unless you demonstrate a clear error or fraud. Printed statements are not required where transaction and balance information is available electronically through the WAAFI App or another supported channel.

You may request a written transaction history free of charge once per calendar month. A disclosed fee may apply to additional written statements requested during the same calendar month.

18.2 Following the law

You must comply with all applicable laws and regulations in Somalia and in every jurisdiction in which you use the Card.

18.3 Prohibited use

You must not use the Card for unlawful activities or transactions involving prohibited or restricted merchant categories. This includes categories restricted by:

• applicable law;
• Mastercard rules; or
• Bank policies.

18.4 Keeping your Card secure

You must:

• use the Card only as the registered Cardholder;
• keep your Card details secure;
• keep your PIN confidential;
• protect one-time codes and passwords;
• protect your authentication information; and
• take reasonable steps to secure the device used to access the WAAFI App.

You must not knowingly allow another person to access your Card or WAAFI App through your authenticated device.

If you believe your Card credentials, authentication information or enrolled device has been compromised, contact us immediately. We may temporarily block or replace a Card or security credential where reasonably necessary to protect you, the Bank, WAAFI, Mastercard or other payment participants.

19. MERCHANT ACCEPTANCE

We do not guarantee that the Card will be accepted by every:

• merchant;
• ATM;
• payment terminal;
• website; or
• service provider.

A merchant may refuse the Card for legitimate reasons, including:

• technical issues;
• merchant policy;
• geography;
• transaction restrictions;
• payment-network requirements; or
• fraud controls.

We are not responsible for the goods or services you purchase using the Card. Disputes about goods or services should generally be addressed directly with the merchant, without affecting any rights you may have under applicable payment, dispute or chargeback procedures.

20. VERIFICATION AND COMPLIANCE

The Bank and/or WAAFI, where acting on behalf of the Bank, may carry out:

• identity verification;
• customer checks;
• sanctions screening;
• transaction monitoring;
• fraud prevention;
• financial-crime checks; and
• other compliance checks required by law, regulation, Mastercard rules or Bank policies.

We may request additional information or documents from you. If you do not provide information required for these checks, your Card may be restricted, suspended or cancelled, subject to applicable law.

We may refuse, delay, restrict or reverse a transaction where reasonably necessary to comply with:

• applicable law;
• regulatory requirements;
• sanctions;
• court orders;
• Mastercard requirements; or
• financial-crime and risk-management obligations.

21. DATA PROTECTION AND INFORMATION SHARING

We may collect, use, store and process your information for purposes including:

• providing and administering the Card;
• processing and settling transactions;
• fraud prevention and detection;
• identity and customer checks;
• regulatory and legal compliance;
• customer support;
• disputes and chargebacks;
• risk management; and
• improving or securing the Card and WAAFI services.

Your information may be shared with:

• Mastercard;
• payment processors;
• service providers;
• WAAFI;
• relevant wallet providers;
• regulators;
• law-enforcement authorities; and
• other parties where permitted or required by applicable law.

We will process personal information in accordance with applicable data-protection laws and the applicable privacy notice.

22. CHANGES TO THESE CARD TERMS

We may amend these Card Terms where reasonably necessary to reflect changes in:

• law;
• regulation;
• Mastercard rules;
• technology;
• Card features;
• fees;
• security requirements; or
• operating procedures.

Where applicable law requires advance notice of a material amendment, we will provide the required notice. Notice may be provided through:

• the WAAFI App;
• the Bank's website;
• electronic communication; or
• another permitted channel.

23. LIMITATION OF LIABILITY

To the extent permitted by applicable law, the Bank will not be liable for indirect, incidental, special or consequential loss arising from the use of, or inability to use, the Card. This includes loss of business, profits, revenue, goodwill; or anticipated savings.

We are not responsible for:

• a merchant refusing the Card;
• failure of a third-party system;
• telecommunications failure;
• payment infrastructure failure; or
• circumstances outside the Bank's reasonable control.

Where the Card is funded through or connected to a third-party mobile-money account, the Bank is not responsible for failures or delays caused solely by that provider, except where applicable law requires otherwise.

23.1 Liability cap

Subject to applicable law, the Bank's aggregate liability arising from or relating to the Card is limited to the direct loss actually suffered by you in connection with the relevant Card transaction.

This limitation does not apply where liability cannot legally be excluded or limited, including liability arising from fraud, wilful misconduct or other matters for which applicable law prohibits limitation.

24. GOVERNING LAW, COMPLAINTS AND JURISDICTION

24.1 Governing law

These Card Terms are governed by the laws of the Federal Republic of Somalia. Where your Funding Account, residence or place of Card use outside Somalia, these Card Terms will also be interpreted consistently with the applicable and the requirements of the applicable regulatory authority, to the extent those laws or requirements apply and cannot lawfully be excluded by agreement.

24.2 Complaints

If you have a complaint or dispute, you should first contact WAAFI through the applicable customer-support or complaints channel.

25. OTHER TERMS

25.1 Mastercard licence and trademarks

Mastercard and its related trademarks, logos and intellectual property remain the property of Mastercard or its relevant affiliates. They are used under applicable licence and payment-network arrangements.

25.2 Card ownership

The physical and digital Card remains subject to the Bank's ownership and control. You receive a limited right to use the Card in accordance with these Card Terms and applicable Mastercard rules.

You must not:

• copy the Card;
• modify the Card;
• reproduce the Card;
• misuse the Card;
• interfere with its security features; or
• misuse Mastercard or other programme branding or technology.

25.3 Safeguarding of funds

Funds represented by the Card Balance are held by the Bank and maintained separately from the Bank's own operating funds in accordance with applicable Somali law, the requirements of the Central Bank of Somalia and, where applicable.

This arrangement is intended to keep Cardholder funds available in the event of the Bank's insolvency, to the extent provided by the applicable safeguarding arrangement and applicable law.

Where funds are provided or held through a third-party financial services provider or Linked Wallet, the treatment, safeguarding and availability of those funds are governed by that provider's terms and applicable regulatory framework.

Nothing in these Card Terms makes the Bank responsible for funds that remain legally or operationally held by a third-party provider, except where applicable law requires otherwise.

25.4 Transfer of rights

You may not assign or transfer your rights or obligations under these Card Terms without our prior written consent, except where permitted by law. We may assign or transfer our rights or obligations where permitted by:

• applicable law;
• regulatory requirements; and
• the arrangements governing the Card programme.

25.5 Electronic communications

We may provide:

• notices;
• statements;
• transaction information;
• amendments;
• alerts; and
• other Card communications

electronically through the WAAFI App, SMS, email, website or another channel permitted by applicable law.

Electronic records maintained in the ordinary course of business may be used as evidence of the relevant transaction or communication, subject to applicable law and your right to demonstrate an error or unauthorised activity.

25.6 Language

These Card Terms are issued in English. A translation may be provided for convenience. If there is a conflict between the English version and a translated version, the English version will prevail to the extent permitted by applicable law.

25.7 Severability

If any provision of these Card Terms is found to be invalid, illegal or unenforceable, it will be interpreted or modified to the extent necessary to make it enforceable where legally permitted. The remaining provisions will continue in full force and effect.

25.8 Entire agreement

These Card Terms, together with:

• the applicable WAAFI Wallet terms;
• applicable third-party provider terms;
• The Fee Schedule;
• the privacy notice; and
• other documents expressly incorporated by reference,

form the agreement governing the Card. If there is a conflict, provisions specifically governing the Card will prevail for Card-specific matters, subject to applicable law and regulatory requirements.

25.9 No waiver

If the Bank or WAAFI does not exercise a right immediately, this does not mean that the right has been waived. A single or partial exercise of a right does not prevent further exercise of that right or another right.

26. FINAL PROVISION

These Card Terms constitute the complete terms governing the WAAFI Card programme between the Cardholder and the Bank, together with WAAFI where WAAFI acts on the Bank's behalf.

By applying for, activating or using or continuing to use the Card, you acknowledge that you have read, understood and agreed to these Card Terms.

Fee Schedule

The following fees apply to your Card:

Third-Party Fees: Other fees may be charged by third parties when you use your Card, where applicable. Such fees are separate from the fees listed above and may be outside our control.