Privacy Notice
Last Update 9 October 2024
1. OVERVIEW AND PURPOSE
GIB Capital ("GIBC”, "We”, “Us”, or “Our”) seeks to protect the privacy of your information. This privacy notice (“Privacy Notice” and/or “Notice’) (with our Terms and Conditions of Use) explains the basis on which any Personal Data (as defined below) that you provide to Us or which We collect on your behalf, will be processed by Us. Please read the following provisions carefully to understand our practices regarding your Personal Data and how we will treat it.
GIBC is committed to safeguarding your Personal Data, which is why we maintain physical, electronic and procedural safeguards that comply with applicable laws and regulations to secure your information from unauthorized access and use, accidental or unlawful alteration and destruction, and other unlawful or unauthorized forms of processing. We engage in the continuous training of Our employees in the proper management of Personal Data.
At GIB Capital, we take data privacy very seriously and we provide our customers with all necessary data security to protect such Personal Data from unauthorized access. We require any third parties who carry out any work on behalf of GIB Capital to comply with appropriate compliance standards to protect your information.
2. DEFENITIONS
Personal Data:
means any data – of whatever source or form – that would lead to the identification of the individual specifically or make it possible to identify him or her directly or indirectly, including name, personal identification number, addresses, contact numbers, license numbers, records, personal property, location data, bank account numbers, fixed or moving pictures of the individual, and other data of personal nature.
Sensitive Data:
means any personal data that includes a reference to an individual's ethnic or tribal origin, or their religious, intellectual, or political belief, or indicates his membership in nongovernmental associations or institutions, as well as criminal and security data, biometric data, genetic data, credit data, health data, and data that indicates that both parents of an individual or one of them is-unknown.
3. THE INFORMATION WE COLLECT
We will limit the collection and use of customer information to the minimum We require to deliver Our services to Our customers, which includes advising Our customers about Our products, services and other opportunities, and to administer Our business, in a manner that does not conflict with regulatory requirements for the collection of such data.
4. HOW DO WE COLLECT YOUR INFORMATION?
We may collect personal information in a variety of ways, and that information may be relevant to any products or services we currently offer or have provided in the past.
We collect your personal data when:
Client Onboarding: When you apply for an investment account or brokerage service or Asset Management or Investment Banking, we collect information to comply with “Know Your Customer (KYC)” regulations which may include your name, address, date of birth, email id, tax identification number, financial information, and employment details.
Transactions: We collect information about your investment activity, such as your holdings, transactions, and fees.
Communications: We may collect information through your communications with us, including emails, phone calls, and online chats.
Website Usage: When you visit GIB Capital or GIB Tadawul website, we may collect information about your browsing activity on GIB Capital or GIB Tadawul website, such as the pages you visit and the links you click. Additionally, we may also collect information about your device, such as your IP address, operating system and browser type.
External Sources: We may collect your information from external sources, such as public records, credit reporting agencies, and custodians holding your securities.
5. HOW DO WE USE YOUR INFORMATION?
6. WHO WE SHARE YOUR INFORMATION WITH?
GIB Capital may share your personal data for use with internal or external parties (e.g., Gulf International Bank, regulatory authorities and service providers) for administrative, operational and advisory purposes, in this case in accordance with the provisions of the relevant laws and regulations. We emphasize that sharing your personal information with any external sources is to process your data to the extent necessary to achieve the purposes described in this Notice.
We may also disclose your information where We have a public or regulatory duty, or when we need to do so to prepare and submit regulatory reports and when GIB Capital has obtained your prior consent to share such information. In some circumstances required by the regulations, this will involve us transferring your personal data outside the Kingdom of Saudi Arabia (KSA). Such transfers will be performed in compliance with the laws in force in the Kingdom of Saudi Arabia. When we transfer your personal information outside the region, we will take the necessary steps to ensure appropriate safeguards are applied to maintain the same levels of protection as required under the regulations.
7. COOKIES
We use 'cookies' to monitor how people use GIB Capital and GIB Tadawul websites. A cookie is a piece of information that is stored on your computer's hard drive, and it records how you have used a website.
- Some cookies are necessary to ensure the smooth operation of the website, including managing user sessions and preferences.
- We use cookies to track and analyze website traffic and user behavior on GIB Capital/GIB Tadawul websites to improve the overall experience and performance. These help us understand which sections of the website are most visited and how users interact with them.
- Certain cookies are used to store user preferences and provide a personalized browsing experience, ensuring relevant content is shown to return visitors.
- Cookies also help enhance website security by identifying and preventing potential threats or unauthorized access.
8. APPLICABILITY
This Privacy Notice is applicable to Personal Data and Sensitive Data, or information collected by GIB Capital directly from the customer or through GIB Capital online portals, mobile apps and electronic communications as also any information collected by GIB Capital’s servers from the customer’s browser.
9. SECURITY PRACTICES & PROCEDURES
The security of Personal Data is a priority and is protected by maintaining physical, electronic, and procedural safeguards that meet applicable laws. We are committed to take reasonable steps and measures to protect the security of the customer’s Personal Data from misuse, loss, unauthorized access, modification or disclosure. We maintain Our security systems to ensure that the Personal Data of the customer is appropriately protected and follows standard encryption norms for the transmission of information. We ensure that Our employees respect the confidentiality of any Personal Data held by Us.
10. RETENTION OF PERSONAL DATA
At GIBC, we retain your Personal Data only for as long as mandated by the regulatory and supervisory authorities for the purposes set out in this Privacy Notice. We will retain and use your information to the extent necessary to comply with our legal obligations (for example, if we are required to retain your data to comply with applicable laws and regulations), dispute resolution, and enforcement of our legal agreements and policies that are subject to Electronic Services instructions and other applicable rules and regulations within the designated jurisdiction.
11.COLLECTION OF DATA FROM MINORS
The privacy notice must be reviewed and agreed to by the guardian if you are a resident in KSA and under 18 or, alternatively, are resident elsewhere and are not yet the relevant age of majority in the jurisdiction in which you reside. We note that the processing of your Personal Data will be for a specific purpose and in accordance with this Privacy Notice.
12. PRIVACY NOTICE CHANGES
The effective date of this Notice is provided above. Any updates or changes to the Notice will be posted on GIB Capital/GIB Tadawul website with the new revision date, which is the effective date of changes. Your continued use of GIB Capital or GIB Tadawul website constitutes your acceptance of any changes to this Notice. Therefore, we recommend you check the Notice periodically to be aware of the most updated version of this Notice.
13. DATA SUBJECT RIGHTS QUERIES
You may have certain rights relating to your Personal Data depending on the country in which you access our GIB Capital/GIB Tadawul website in the Kingdom of Saudi Arabia. In some cases, depending on applicable legislation, such as Kingdom Saudi Arabia – Personal Data Protection Law (“KSA PDPL”), these rights may include: the right to be informed – this right allows you to receive information from Us about what Personal Data We collect and what do We do with it. The purpose of this notice is to fulfil this right.
14. YOUR RIGHTS - LEGAL RIGHTS AVAILABLE TO HELP MANAGE YOUR PRIVACY
In accordance with the Personal Data Protection Law in the Kingdom of Saudi Arabia, you have the right to following:
Right to Know / Information
You have the right to know about Our contact details, the exact reason the data is being collected, the methods being used for data collection, and whether this collected data will be shared or sold.
Right to Request Access or Copy
You have the right to access your Personal Data from us and obtain a copy of it in a clear and readable format, in conformity with the content of the records, at no cost.
Right to Request Correction
You have the right to request correction of any data collected on them if it is incomplete, inaccurate, or obsolete.
Right to Request Destruction
You have the right to request the destruction of data collected on them. The reasons can range from the user rescinding their consent for data collection to the data no longer serving the purpose for which it was collected. Provided that this is after fulfilling statutory obligations (including statutory retention periods), adhering to judicial orders, or adhering to internal policies.
Right to Limit/Restriction of Processing
You have the right to limit or refuse the processing of their Personal Data by the organization for special cases and for a limited period of time. This right is not explicitly provided under the KSA PDPL; however, the regulatory authority has released a set of FAQs that provides details of this right.
We are required to ensure that you are appropriately informed about these rights and establish dedicated channels for you to exercise these rights. We must fulfill these requests within 30 days and record all data subject requests received.
15. DISCLAIMER
This Privacy Notice is not intended to, nor does it, create any contractual rights whatsoever or any other legal rights, nor does it create any obligations on us in respect of any other party or on behalf of any party. When you log in to third parties’ websites, you will not be subject to or under this Privacy Notice. Moreover, we are not responsible for their websites’ content, and we do not represent third parties. Therefore, we recommend you review the privacy and security policy of each link you log in to.
CONTACT US
If you have any questions, concerns or complaints regarding our compliance with this Privacy Notice and the KSA PDPL, or if you wish to exercise your rights, please contact us. We will investigate and will attempt to resolve complaints and disputes and make every reasonable effort to honor your wish to exercise your rights as quickly as possible, in any event, within the timescales provided by applicable data protection laws or regulations.
If you have any questions or comments regarding the processing of your Personal Data, our privacy practices or if you would like us to update information or preferences you provided to us, please contact the Data Privacy / Protection Team (Data Management Office) through the following email: [email protected] or GIB Capital official channels or phone Number 80012440121
Licensed by the Capital Market Authority No. 07078-37 on July 22, 2007 with a Commercial Registration No. 1010244294 and Unified Number 7001553465 on February 14, 2008, with a paid-up capital of SAR 200 million.
English
العربية