1.1 Financial protection for the customer in the Kingdom of Saudi Arabia

The Saudi Arabian Monetary Authority (SAMA) is the observer and supervisor of financial institutions licensed and authorized to operate in the Kingdom of Saudi Arabia (banks and finance companies including finance lease companies, real estate finance companies, insurance companies, exchange companies and credit information companies).

1.2 Protection of Momkn customers

  • Protecting Momkn customers by providing highly secure and excellent services.
  • Momkn provides innovative and cost-effective services to customers.
  • Momkn deals fairly with clients regarding any request as per policy.
  • Momkn maintains high confidentiality with customer information and customer information is right of the customer.
  • Momkn will treat their customer with at most degree of respect.
  • Momkn will take appropriate actions in order to resolve any problem raised by customer. If Momkn is not able to resolve, it will approach SAMA for help.
  • Momkn pledges to do better than required.

Customer Responsibilities

  • Be Honest and clear while submitting the information.
  • Read clearly the terms and conditions and offerings.
  • Customer has the right to raise any complaints.
  • Customer must receive service timely and appropriately.
  • Not to disclose the client’s accounts to anyone because they are considered confidential and in the event of a disclosure, the liability is abandoned.
  • The customer must always verify his accounts and secret numbers.
  • The customer’s information must be updated by himself or by authorized personnel.
  • Don’t share e-mail , password, secret code and any personal sensitive information.


All financial transactions that are processed through Momkn e-Wallet should be secured against fraudulent incidents by implementing the following system controls:

  • Momkn will provide the customer with all the required updates, etc.
  • Any changes in the provisions will be notified within at least 30 days before any change is made.
  • Momkn will provide to the customer Arabic and English based on the requirement.
  • Customer obligations to keep his personal sensitive data confidential.

Fees and Pricing

  • We provide customers with a written copy of the schedule of fees and commissions when providing the service.
  • It is also incumbent upon us to inform the customer of any change in fees and currency exchange 30 days before.
  • We also clarify the details of calculating fees and commissions.

Data protection and maintaining confidential information for Momkn and the customer

  • Momkn will have an obligation to keep confidentiality on the customer’s information.
  • Momkn will have a safe and confidential environment with all information.
  • Momkn also provide appropriate business procedures and effective control systems to protect customer data.
  • All the employees of Momkn will maintain customer information confidentially.

Advertising and Marketing

  • Momkn will be cautious in our advertising and marketing
  • In the event of the announcement, Momkn will perform necessary review before publishing in order to protect customer information.

Onboarding and accounts

  • Faster onboarding of customer into Momkn wallet.
  • We inform the customer of any decision taken by the Momkn in the event of closing an account 60 days before the date of the decision.
  • No deposit amount to open an account.


  • Momkn will provide clear and transparent fees structure for bank transfer and other services.
  • Any transfer will be with the specified time and date based on the service.


  • Staff performance and effectiveness is key to serve customers in best possible way.
  • The employees have full knowledge of the best Fintech practices and transactions with clients.


Foreign exchange

  • Momkn have the right to charge additional fees to the customer on or before the transfer is executed.
  • Momkn should inform the customer of the expected date of the transfer.
  • Momkn must inform the customer that the remittance delivery is carried outside the Kingdom.


  • In the event of error, Momkn must inform the customer.
  • Periodic reconciliation performed and ant error is rectified then and there with full transparency.


  • Momkn must abide by all regulations regarding customer complaints and grievances.
  • Momkn must document the receipt of the complaint and provide the complainer with a reference number to follow up on his complaint.
  • Momkn must close the complaint within the time frame as per the policy.