Data Privacy Policy

Last updated: 5 Sept. 2024

At Zumr, we are committed to safeguarding your Personal Data while delivering seamless financial services to you. This Data Privacy and Usage Policy ("Policy") details our approach to managing your Personal Data, emphasizing transparency, security, and your rights as a user.

Definitions

• Personal Data: is any information that identifies or can be connected to an individual. This includes the details you provide and the data we collect through your interactions with our Services.
• Services: encompasses all the financial products and services we offer.
• Zumr, we, us, our: refers to Zumr as the entity managing your Personal Data under this Policy.

Collection and Use of Personal Data

Your Personal Data is integral to the services we offer. We collect and use this data to enhance our service delivery, maintain security, fulfill legal obligations, and improve the overall user experience. This can include:

• Data Collection: We collect a variety of information, including your name, contact details, payment information, transaction history, and other data submitted during the electronic Know Your Customer (eKYC) process. Additionally, we gather details about your location through IP addresses and monitor your activities on our platform to tailor our services effectively.
• Data Usage: We use this data to deliver and refine our services, maintain security, fulfill legal requirements, and conduct affordability assessments before joining an open circle with Zumr. We may also utilize third-party tools for fraud detection, security enhancement, and analytics, without compromising the privacy of your information. To enhance our service delivery and decision-making, we may employ AI models to analyze the information you submit or that is verified through the Oman Credit and Financial Information Centre, your employer, or international sanction screening lists.

Legal Basis for Data Processing

We process your Personal Data based on several legal grounds, including the necessity to fulfill our contractual obligations to you, compliance with legal requirements, and our legitimate interests in improving our services. In cases where we rely on your consent, you have the right to withdraw it at any time without affecting the lawfulness of the processing carried out before the withdrawal.

Sharing and Protecting Your Data

• Internal Sharing: Data within Zumr is shared on a strict need-to-know basis to ensure protection of privacy while maintaining efficient service delivery.
• External Sharing: We may share your data with regulatory bodies or service providers under strict privacy agreements. This includes sharing circle membership and repayment information with Oman Credit and Financial Information Centre (Mala’a).

Enhanced Data Security

Protecting your Personal Data is our top priority. Our security measures, aligned with our robust cybersecurity policy, include implementing advanced encryption for data in transit and at rest, using SSL encryption for secure data transmission, and employing secure storage protocols for sensitive information. We also enforce strict access controls, including rule- and role-based access management, to ensure that only authorized personnel can access critical data. Our security framework is further reinforced through regular security audits, vulnerability assessments, and continuous monitoring to detect and mitigate potential threats in real time.

Continuous Monitoring and Compliance

We regularly monitor our data practices to ensure they comply with legal standards and internal policies. Our dedicated team oversees these efforts, ensuring adherence to data privacy commitments.

Amendments

This Policy may evolve to reflect changes in our services, legal landscape, or user feedback. Regular reviews ensure its relevance and effectiveness.