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Terms and Conditions

Welcome to Ethica Institute of Islamic Finance™. If you continue to browse and use this website you agree to comply with and be bound by the following terms and conditions of use, which together with our privacy policy govern Ethica Institute's™ relationship with you.

This Agreement is agreed upon by Ethica Institute of Islamic Finance™ (referred to as "Ethica™") and The User (referred to as "The User"), where "The User" is defined as any individual or institution using any of the products or services provided by Ethica Institute of Islamic Finance™, EthicaInstitute.com, IslamicAdvisory.com, and/or its affiliates and associates, including and not limited to its Associate Membership, Premium Membership, Corporate License, Executive Tracks, or any other product or service we provide.

The terms "Ethica Institute of Islamic Finance™," "Ethica™," "EthicaInstitute.com," "Islamic Advisory," "IslamicAdvisory," "IslamicAdvisory.com," "Islamic Advisory Group," or "us" or "we" refers to the owners of the website whose registered office is - I A G Consultancy FZ LLC, PO Box 127150, Dubai, United Arab Emirates. I A G Consultancy FZ LLC is incorporated in the Fujairah Media Free Zone as a Free Zone Establishment with license number 789/2010 BCZ. The term "you" refers to The User of our website.

General Terms and Conditions

1.1. Ethica™ and The User agree to maintain Shariah compliance in all dealings, and God is our witness.

1.2. This Agreement does not grant any sort of exclusivity to either of the parties.

1.3. This Agreement is governed by the laws of the United Arab Emirates and automatically terminates if you fail to comply with the terms and conditions of this Agreement.

Responsibilities of The User

2.1. You acknowledge that users of Ethica™ products are limited to unique individuals up to the maximum number of users indicated in the membership.

2.2. The User will make all possible effort to ensure that users do not share with anyone else their passwords, training, exams, certificates, or any other aspect of our product intended for a unique user.

2.3. Where applicable, payment must be made in full prior to commencement of the service.

2.4. Mid-year upgrades are pro-rated as follows. The User pays the old rate up to the date of the old membership, and pays the new rate after this date for the remainder of the year. For example, if $99,000 were paid for 500 users, and an upgrade to 600 users is requested commencing on the 180th day, the customer will pay [($150,000) x (365 – 180)/365] – [($99,000) x (365 – 180)/365], or $25,849, in addition to the $99,000 already paid at the beginning of the membership.

2.5. You may not reverse engineer, decompile or disassemble the product, modify it or create derivative works based upon the product in whole or in part, distribute copies, remove any proprietary notices or labels or resell, lease, rent, transfer, sublicense or otherwise transfer rights to the product.

2.6. You acknowledge that no title to the intellectual property in the product is transferred to you. Title, ownership, rights and the intellectual property rights in and to the product shall remain with Ethica™.

2.7. Unauthorized use of our products or services may give rise to a claim for damages and/or be a criminal offence.

2.8. All customization of products or services provided by Ethica™ incur separate charges.

2.9. The period of access to the training modules begins on the first day of the subscription period, where 'access' disregards any obstructions, firewalls, delays, or technical difficulties on the part of the User.

2.10. One bulk delivery of the Certified Islamic Finance Executive™ (CIFE™) certificate is given to each Corporate License holder; Associate or Premium group; or Associate or Premium individual, depending on whether the registrant was a corporate, a group, or an individual, respectively.

Exit Clause

3.1. This Agreement may be terminated by Ethica™ without prior notice at any time. If either party violates any of the terms and conditions of this Agreement, the contract may be terminated unilaterally by either party.

3.2. While Ethica™ makes every effort to perfect its content, we do not guarantee the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose, including and not limited to when the CIFE™ examination is made available, provide the examination is made available at some point during the user's subscription or at some point after the user's subscription expires. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.

3.3. The User's use of any information or materials on EthicaInstitute.com is entirely at The User's own risk, for which we shall not be liable.

3.4. It shall be The User's own responsibility to ensure that any products, services or information available through this website meet The User's specific requirements.

3.5. EthicaInstitute.com contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. All title and copyrights in the product (including but not limited to any images, photographs, animations, video, audio, music, text, etc.) are owned by Ethica™. The product is protected by copyright laws and international treaty provisions. Therefore, you must treat the product like any other copyrighted material.

3.6. From time to time EthicaInstitute.com may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s).

3.7. The User may not create a link to EthicaInstitute.com website from another website or document without Ethica's™ prior written consent.

3.8. By becoming a User, you agree to allowing us to use your name and logo in marketing our services and issuing press releases.

3.9. The User permits Ethica™ to send updates and marketing emails to its users from time to time.

General

4.1. While this contract is in force, no party shall (and shall ensure that their associates shall not) discuss, agree or negotiate with any third party the conduct of all or any part of the terms of this Agreement. Neither Party shall disclose in its publicity material or otherwise the terms of this Agreement or its relationship with the other party without the prior written consent of that party. All know-how, trade secrets, commercial, financial, marketing and technical information, and any other information relating to a party in any form or medium, whether or not marked as 'confidential' and whether disclosed orally or in writing before or after the date of this Agreement, together with any reproductions of such information (in whole or in part) in any form or medium, given by one party to this Agreement to the other party or otherwise obtained, developed or created by the Recipient relating to the Disclosing Party will be treated by the Recipient, its employees, agents and subcontractors as confidential and will not be used other than for the benefit of the Disclosing Party nor disclosed to third parties without the prior written consent of the Disclosing Party.

4.2. This contract sets out the entire Agreement between the parties in respect of the subject matter contained herein. It supersedes any previous agreement between them in relation to the subject matter of this Agreement.

4.3. This Agreement does not include an annual maintenance fee to cover upgrades and patches. The maintenance fee is optional and will be billed on an annual basis if you chose so. Ethica™ may provide you with support services related to its product at its sole discretion. Any supplemental code provided to you as part of the support service shall be considered part of the product and is subject to the terms of this Agreement.

4.4. If at any time any provision of this Agreement is or becomes invalid, illegal or unenforceable in any respect under the laws of the United Arab Emirates, that shall not in any way affect or impair the validity, legality or enforceability of any other provision of this Agreement.

4.5. No party may assign, charge or otherwise encumber, create any trust over or deal in any other manner with this Agreement or any right, benefit or interest under it, nor transfer or sub-contract any of that party's obligations under it.

4.6. Each party shall be excused from performing its obligations under this Agreement if its performance is restricted or prevented due to a matter beyond its reasonable control, a force majeure. Performance of a party's obligations under this Agreement shall only be excused to the extent of and during the continuance of such event. If such an event continues for more than 30 days either party may give written notice to the other terminating this Agreement.

4.7. The parties mutually acknowledge that in entering into this Agreement and in the course of its performance they have incurred expenses both in terms of capital outlay and day to day operational expenses for which they have been adequately compensated by the mutual benefits (financial and otherwise) which each party has derived from this Agreement. Accordingly, the parties agree that notwithstanding any rule of law, no termination of this Agreement made in accordance with its terms shall be considered by either party to be wrongful, abusive or inconvenient and neither party shall as consequence of such termination make any claim against the other for compensation for loss of any rights, loss of goodwill, loss of future profits or any similar loss. The User uses Ethica's™ products and services at his or her own risk.

4.8. Ethica and its employees, shareholders, and affiliates cannot be held responsible for any loss, cost, damage, inconvenience or expense caused resulting from this Agreement, or as a result of any inaccuracy or error contained within this Agreement, or as a result of Ethica™ ceasing to exist. To the maximum extent permitted by applicable law, we hereby disclaim all warranties, express and implied, including but not limited to implied warranties of this Agreement. We are not responsible for any errors or incorrect data that may be a result of this Agreement. To the maximum extent permitted by applicable law, in no event shall we be liable for any special, incidental, or consequential damages, (including, without limitation, damages for claims regarding privacy, incorrect data or third party claims) arising out of the use of this Agreement or for any other reason, whether foreseeable or not and regardless of the form, legal theory (including without limitation, negligence) or basis of recovery for such claim, even if we have been advised of the possibility of such damages. If The User cancels this agreement, its membership, or any part of the service, no refund shall be provided.

4.9. The User agrees that Ethica™ has made no express warranties, oral or written, to you regarding the product and that the product is provided to you 'as-is' without warranty of any kind. Ethica™ disclaims any and all other warranties, whether expressed, implied or statutory, including, but without limitation, the implied warranties of non-infringement of third party rights, merchantability, and fitness for a particular purpose. If Ethica™ is unable to provide its basic service, namely online delivery of the training modules to The User, The User's exclusive remedy shall be, at Ethica's™ option, either (a) return of the unused portion of the subscription according to the following schedule: Refund requested in Q1: 60% of total refunded; Refund requested in Q2: 30% of total refunded; Refund requested in Q3: 15% of total refunded; Refund requested in Q4: No refund; or (b) repair until The User is receiving the training modules. This limited warranty is void if failure of the product has resulted from accident, abuse, modification or misapplication.

4.10. Ethica™ makes every effort to base its content on the Shariah Standards of the Accounting and Auditing Organization for Islamic Financial Institutions. This does not imply that we are affiliated with, endorsed by, or working in collaboration with AAOIFI. We choose their standards out of an effort to promote Shariah convergence in the Islamic finance industry.

4.11. The content of the pages of EthicaInstitute.com and its related streamable and downloadable content is for your general information and use only and is subject to change without notice.

4.12. In order to receive any form of referral income, you must first register and be approved for becoming an Affiliate. All referrals, referrers, and referees who are not processed in advance through our Affiliate program are considered unpaid and voluntary referrals, referrers, and referees.

4.13. How does Ethica's "100% Risk-Free, Money-Back Guarantee" work? If you aren't super happy with Ethica's program and decide to cancel at anytime during the 4 month period, the entire course fee gets refunded. No questions asked. Refunds are not granted for extensions beyond the initial 4 months or to students who have attempted the CIFE™ or the ACIFE™ examination irrespective of whether they have passed or failed. Refunds will be made by wire transfer to your bank and transfer charges will be deducted from the total amount.

4.14. If you decide to become a CIFE, Ethica reserves the right to share your name and contact details with other CIFEs, prospective CIFEs, and other third parties for purposes of promoting the CIFE Alumni Network.

4.15. All individuals and institutions who use, benefit from, are referred to or referred by, are recommended to or recommended by, a recommendation letter from Ethica agree that all information in the recommendation is given to the best of Ethica’s knowledge and is believed to be accurate. Your conditions of use and hiring of the referred individual are beyond our control. There is no guarantee regarding the accuracy of any given data or statements. Ethica specifically disclaims any responsibility or liability relating to the service of the referred individual and shall under no circumstances whatsoever, be liable for any special, incidental or consequential damages which may arise from the referred. Ethica’s recommendation is not a guarantee, assurance, promise, or the like, for work or employment of any kind at any institution.

4.16. By opening emails from Ethica, you permit to record and view your open and click through history on such emails. If you wish for Ethica not to record and view your open and click through history, you may unsubscribe.

4.17. Candidates participating in Ethica's "Win a Trip to Dubai with Ethica's CIFE" promotion will receive the terms and conditions for the promotion by email. To be eligible for the promotion you need to score a minimum of 85%. Candidates must sign and scan the agreement as a PDF document and return to Ethica. Failure to submit the signed agreement will result in exclusion from the competition. You may still enjoy the 20% discount on the course fee but will not be eligible for the award and the bonuses.

Disclaimer

The answers to all Islamic finance questions received at www.EthicaInstitute.com, by email, phone, fax, or by any other means, or are listed on Ethica's Q&A database, are provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information contained in or provided from or through these answers is general in nature and not specific to you or anyone else and is not intended to be and does not constitute financial, legal, investment, trading or any other advice. You understand that you are using any and all information available on or through this and other answers at your own risk.

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