General provisions
Introduction
This site is the official site of Al-Mustashar Islamic Bank. You must read these terms and conditions carefully before using this site. Your use of the site indicates that you agree to these terms. If you do not agree to these terms, do not use this site. You should also read the terms and conditions for all products and services on the site as detailed below.
Content
Unless otherwise stated, copyright, trademarks, and other intellectual property rights in all materials on the site (including but not limited to text, tools, images, and graphics) are owned by Al-Mustashar Islamic Bank and/or its licensors. Reproduction or modification of the site, in whole or in part, is not permitted without prior written consent from the bank, except for the purpose of obtaining our products and/or services and printing them for personal and non-commercial purposes. Any unauthorized use or reproduction of the information, materials, and property rights contained on this site is strictly prohibited. The information on this site is provided for general information purposes only and should not be used as a basis for making business decisions or claims. Al-Mustashar Islamic Bank makes no warranties or representations as to the accuracy, adequacy, or completeness of the information contained on this site. The information and materials on this site, and the terms, conditions, and descriptions that appear, are subject to change without notice. Specific terms, products, and services are set out below. Eligibility for products and services is reserved and subject to the discretion of Al-Mustashar Islamic Bank and applicable criteria, terms, and conditions. Not all products or services mentioned on the site are available in all geographical areas, and some may not be eligible for certain or all products and services. Al-Mustashar Islamic Bank may withdraw, suspend, or restrict any service or product listed on this site at its sole discretion. Any links to third-party websites are provided solely for information and convenience. Al-Mustashar Islamic Bank has not reviewed all of these third-party sites, and does not control or is not responsible for their content or availability. The inclusion of these hyperlinks does not imply endorsement of the information or materials on such sites by Al-Mustashar Islamic Bank. Please click on the link below to view our regulatory authorities. The bank is subject to regulatory oversight by several key ministries, government departments, and regulatory authorities. Our senior management team ensures compliance with all applicable laws and regulations and is accountable to the board. The board has delegated monitoring and review responsibilities to board committees, including the Risk and Audit Committee.
Common Reporting Standards
Governments around the world, including the Republic of Iraq, are seeking ways to adhere to global initiatives developed to combat tax evasion and enhance tax transparency. This has led to the Organization for Economic Cooperation and Development (OECD) developing the Common Reporting Standards (CRS), which require governments of OECD member states to collect financial account information from domestic financial institutions concerning customers who are taxpayers in different countries from where the account was opened. Automatic exchange of taxpayer information between OECD member states will occur annually. Many governments of OECD member states will adopt and apply the Common Reporting Standards under their local laws. Starting from January 1, 2017, and in compliance with local laws and global tax regulations, the bank will require some customers to provide information aimed at determining their residence for tax purposes. You can find more information about the Common Reporting Standards on the OECD website. The bank is not authorized to provide tax advice to its customers. If you have any inquiries regarding tax residency, please contact an independent tax advisor.