SABIKA GOLD – TERMS & CONDITIONS
Last Updated: 1 September 2025
These Terms & Conditions (“Terms”) are a legally binding agreement between you (“User”) and Sabika Digital Gold Platform (“Sabika”, “we”, “our”, or “us”), a company registered in the Kingdom of Saudi Arabia.
By accessing or using the Sabika Gold mobile application, website, or any related services (“Services”), you confirm that you have read, understood, and agreed to be bound by these Terms. If you do not agree, you must discontinue use immediately.
The Services are regulated under the laws of the Kingdom of Saudi Arabia.
1. OUR SERVICES
Sabika Gold allows you to:
- Buy, sell, and save gold digitally in Saudi Riyals (SAR).
- Track savings goals, rewards, and digital gold balances.
- Redeem gold for physical delivery subject to applicable limits (e.g., minimum redemption weight).
Services are intended for Saudi residents and GCC nationals where permitted by law.
2. ELIGIBILITY
- You must be at least 18 years old.
- By using Sabika Gold, you confirm that all registration information (name, National ID/Iqama, contact details) is true and accurate.
3. USER REGISTRATION
- You may need to register and complete Know Your Customer (KYC) verification as required by SAMA/AML rules.
- Keep your password confidential.
- You are responsible for all activity under your account.
4. PRODUCTS & PRICING
- All gold is fully backed by physical holdings, stored with Al Rajhi Bank.
- Prices are based on live market rates and may change at any time.
- All transactions are denominated in SAR.
5. PAYMENTS
- Accepted payment methods: Mada, Visa, Mastercard, Apple Pay, and bank transfer.
- You authorize us to debit your chosen payment method for all purchases.
- You agree to update payment details to keep them accurate.
6. REFUNDS & RETURNS
- All sales are final.
- Once gold is purchased and allocated to your account, it cannot be refunded in cash.
- Redemption is available as per Sabika’s redemption policy.
7. USER OBLIGATIONS
You agree not to:
- Use the Services for illegal, fraudulent, or money-laundering activities.
- Attempt to manipulate prices or misuse the platform.
- Breach Saudi laws, SAMA/CMA regulations, or PDPL data rules.
8. PRIVACY & DATA
- Your personal data is collected and processed in accordance with Saudi PDPL and Sabika’s Privacy Policy.
- We may share your information with banks, payment processors, or regulators as required by law.
9. GOALS & REWARDS
- Users may set savings goals in SAR or grams of gold.
- Free gold is credited to the account on account opening.
- Referral credits are based on the referred user, opening a new account.
10. LIMITATIONS OF LIABILITY
Sabika Gold provides services on an “as-is” and “as-available” basis.
- We are not liable for losses due to market fluctuations, system interruptions, or unauthorized account access caused by your negligence.
- Our liability will not exceed the total fees paid by you in the six (6) months prior to the claim.
11. TERMINATION
We reserve the right to suspend or close accounts that:
- Violate these Terms, Saudi laws, or SAMA regulations.
- Are linked to suspicious or fraudulent activity.
Users may close their accounts at any time, subject to settlement of balances and compliance checks.
12. GOVERNING LAW & DISPUTES
- These Terms are governed by the laws of the Kingdom of Saudi Arabia.
- Any dispute shall be subject to the exclusive jurisdiction of Saudi courts.
- Where required, disputes may first be referred to arbitration in Riyadh under Saudi arbitration law.
13. MISCELLANEOUS
- We may update these Terms from time to time. Updated versions will carry a new “Last Updated” date.
- Continued use of the Services after changes constitutes acceptance of the revised Terms.
- Failure to enforce any right does not waive it.
14. CONTACT US
For complaints, disputes, or further information: