Welcome to Alfa Gold Co. Before opening a Bullion Account, you are required to carefully read and agree to the following Terms and Conditions. These terms govern your use of Alfa Gold Co. services, ensuring compliance with Shariah principles and applicable laws.
1.1. "Account" refers to a Gold Bullion Account opened by an individual or corporate entity with Alfa Gold Co. for the purpose of buying, selling, holding, or redeeming precious metals.
1.2. "Customer" refers to any individual or corporate entity opening an Account with Alfa Gold Co.
1.3. "Precious Metals" includes gold and other precious metals traded through Alfa Gold Co.
1.4. "Murabaha"refers to a Shariah-compliant sale agreement where the cost and profit margin are disclosed.
1.5. "Delivery" refers to the transfer of physical possession of precious metals to the Customer or their designated address.
2.1. Individuals must be at least 18 years of age to open an Account.
2.2. Corporate entities must provide valid business registration and authorization documents.
2.3. All Customers must provide valid identification and comply with Alfa Gold Co.’s KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.
3.1. Individual Account: For personal use by individual customers.
3.2.Corporate Account: For use by businesses or organizations. A corporate representative must have proper authorization to operate the Account.
4.1. All transactions conducted on the Alfa Gold Platform comply with Islamic finance principles and are subject to regular Shariah audits.
4.2. Interest (Riba) is strictly prohibited. No interest will be charged on transactions or account balances.
4.3. The platform ensures full disclosure of costs and profit margins to align with Murabaha principles.
4.4. Speculative trading and gambling are prohibited. Transactions must involve real, tangible assets.
Customers can purchase precious metals at live market prices displayed on the platform.
Prices are updated in real time and include any applicable fees or charges.
Upon confirmation, ownership of the purchased precious metal is transferred to the Customer immediately.
Customers may sell precious metals back to Alfa Gold Co. at prevailing market rates.
The platform will provide transparent pricing during the transaction process.
Precious metals purchased may be held digitally in the Account.
All held metals are fully allocated and physically stored in secure facilities under the Customer’s name.
Customers can redeem physical bullion (bars or coins) at any time.
Redemption requests may include additional shipping or handling fees disclosed during the transaction.
Delivery is available within Kuwait, subject to applicable delivery charges.
No fees are charged for maintaining an active Account.
Storage for held metals is provided free of charge.
Delivery within Kuwait is subject to applicable charges, clearly disclosed before transaction confirmation.
Alfa Gold Co. reserves the right to charge additional service fees for specific transactions, as agreed upon with the Customer.
7.1. Customers must deposit funds into their Account to facilitate purchases.
7.2. Fund transfers must be made through approved banking channels.
7.3. Withdrawals from the Account must be directed to the Customer’s registered bank account.
8.1. Ensure all information provided during Account registration is accurate and up to date.
8.2.Keep login credentials secure and confidential.
8.3. Review transaction details carefully before confirmation.
8.4. Comply with all applicable laws, including those relating to anti-money laundering and taxation.
9.1. Trading in precious metals involves market risks, including fluctuations in prices.
9.2. Alfa Gold Co. does not guarantee profits or protection against losses.
9.3. Customers are advised to conduct their due diligence and seek financial advice before engaging in transactions
10.1. Any disputes arising from these Terms and Conditions shall be resolved through amicable negotiation.
10.2. If unresolved, disputes will be referred to an independent Shariah advisory board.
10.3. For legal matters, jurisdiction will be the courts of Kuwait.
11.1. Customers may close their Account at any time by submitting a written request.
11.2. Alfa Gold Co. reserves the right to terminate Accounts that violate these Terms and Conditions or applicable laws.
12.1. Alfa Gold Co. reserves the right to amend these Terms and Conditions at any time.
12.2.Customers will be notified of significant changes via email or the platform.
12.3. Continued use of the Account constitutes acceptance of revised Terms and Conditions.
13.1. These Terms and Conditions are governed by the laws of Kuwait and comply with Islamic finance principles.
Trading in precious metals (bullion investments) is not suitable for all, and it contains many risks that may face the client whether individual, company, financial institute, or bank. The client shall take into his/her consideration the below mentioned risks, and shall be aware of the risks before signing agreement:
1. The company is using an automated computer system through which the client may log into his/her account via investment platforms specialized for the online trading of precious metals. This automated system may be corrupted for a period of time due to any irregular reason which may prevent both parties from completing the required deal and may result in loss of service or reduce its execution speed. If the client encounters any technical problems from his side, the company recommends the client to give instructions required to complete a deal via recorded phone call to the relevant department to avoid losing the opportunity to fix the required prices, as this paragraph is not included within the company’s responsibility.
2. The company recommends the client to deal with his/her username and password carefully and to never disclose it to anyone. The company shall not be liable for the discloser of the username and password due to the client’s negligence. Alfa United Gold Co. also recommends the client to inform the company immediately
3. upon suspicion of any account breakthrough which may affect negatively on the deals existing on the client’s investment platform.
4. The company recommends the client to keep the account settlement records on his/her personal PC, as the company’s electronic copies of such records may be damaged for several reasons. It is worth mentioning that the company prints and copies the account records as per their rule, as well as keeping all the clients’ information in huge databases saved aside to avoid its loss, and the loss of any such data is only a temporary issue that should be declared by the company.
5. Alfa United Gold Co. does not share any profit or loss for the client Alfa United Gold Co. will not be held responsible for any nature of loss due to price fluctuations for buying and selling of Gold at any court of law in and out of the State of Kuwait under any conditions.
By creating an Account with Alfa Gold Co., the Customer acknowledges having read, understood, and agreed to these Terms and Conditions.
Email: info@alfagoldkwt.com
Phone: +965 92220301
Address: Central Gold Market. Office #06, #116, # 142.Mubarkiya.Kuwait City. Kuwait
Alfa United Gold Jewelry Company W.L.L. Registered in the Commercial Register under No. 361509 on 20/9/2015 License number:2015/3660 Civil Entity Number:530046 Signed by the Authorized Signatory Authority Mr. Hassan Raza Bhatti
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