Definitions:

• Easy Monthly Installment (EMI) refers to any transaction made on the BisB Credit Card by the Cardholder. In this transaction, the Cardholder utilizes the Card Limit and subsequently repays the Transaction amount in monthly installments.
• EMI Term means the number of monthly installments as selected by the Main Cardholder at the time of availing EMI.
• EMI fees / charges means all applicable fees/charges as the Bank may specify from time to time through the Retail Fees and Charges or through written notice to the Main Cardholder and payable by the Main Cardholder in relation to the Card transaction made and / or converted into EMI.
• Fees and Service Charges means any charges, fees, costs that the Cardholder is required to pay to the Bank, which can be found on the Bank’s website and at its branches. The Bank reserves the right to amend these fees and charges at its sole discretion from time to time.
• Total EMI value includes the Card Transaction price and applicable EMI charges as per the Retail Fees and Charges.
• Main Cardholder means the person in whose name the Card Account has been issued.
• Bank means Bahrain Islamic Bank B.S.C.
• Card means the Credit Card issued by the Bank to the Cardholder.
• Cardholder means Main Cardholder and Supplementary Cardholder.
• Card Limit means the maximum debit balance permitted under the Card Account as determined and notified by the Bank to the Main Cardholder from time to time.
• Card Account means the account opened with the Bank in the name of the Main Cardholder in accordance with the Agreement.
• Card Statement means the monthly statement of Card Transactions due for the previous period.
• Card Transaction means the purchase of goods or obtainment of services by the use of the Card.
• Terms and Conditions means the Terms and Conditions applicable on BisB Credit Cards, in addition to the EMI Terms & Conditions.

Purpose

• The purpose of the EMI is to enable the Cardholder to conduct Card Transaction using the Credit Limit available on the Card or to repay the Transaction amount in monthly installments in accordance with the EMI Terms & Conditions.
• The Bank shall have the right to cancel the Service at any time upon serving 30 day notice to the Eligible Customer.

Eligibility

• EMI is offered exclusively to the Main Cardholder whose payment history/status with Bahrain Islamic Bank is satisfactory and in line with the Bank’s Credit Cards Terms and Conditions and EMI Terms and Conditions.

Conducting an EMI Transaction

• The monthly EMI installment will be added to the minimum due amount for the Cardholder at agreed cycles.
• Instalment calculations will be done using the reducing balance method.
• Any payments made to the Bank and credited to the Card Account shall be used by the Bank in the following manner : (1) towards the Easy Monthly Instalment Amount, which includes the instalment and the installment service fees (as stipulated in the Bank’s Fees and Service Charges);  (2) for the payment of late payment amounts and any other applicable fees; (3) towards payment of all cash advances as shown in the latest and any previous statements; (4) for the payment of all purchases shown in any previous statement; (5) towards the payment of all purchases shown in the latest statement; and (6) for the payment of any cash advances made and debited to the Card Account but not yet shown in any statement.
• In case the Main Cardholder is unable to effect payment of the EMI installment on or before the payment due date, the Main Cardholder becomes liable to pay the late fee as per the Bank’s Retail Fees and Charges.
• The Main Cardholder shall pay the total EMI value inclusive of all applicable EMI fees / charges in monthly installments based on EMI Terms
• The Bank shall process and authorize an EMI Transaction provided that the amount of EMI Transaction is within the available Credit limit, and the Card Account is satisfactory and in good status as per the Bank’s policies.  The approved EMI Transaction will appear on the next Card Statement.
• In case the Main Cardholder decides to cancel his/her EMI then he/she will be liable to pay the early settlement charges as per the Bank’s Retail Fees and Charges.
• The conversion of Card Transaction to Easy Monthly Installments (EMI) may take up to 7 working days from the time of submitting his/her request through Call Centre or in writing through the Branch
• If the Main Cardholder makes a Card Transaction through BisB digital platforms on or after the Card Statement’s issuance date (15th of each month), that particular Card Transaction will be included in the Card Statement for the following month
• For EMI transactions, it is essential to initiate them sufficiently in advance before the upcoming Credit Card Statement is generated. This ensures that the transaction is accurately reflected in the statement. Please note that EMI (Easy Monthly Installment) is permissible only for transactions that have not yet been included in a statement
• These Terms and Conditions supplement the General Terms and Conditions of Account and Credit Cards Terms and Conditions which govern your Card. If there is any inconsistency between the provisions of these Terms and Conditions and the provisions of the General Terms and Conditions of Accounts and Credit Cards Terms and Conditions, the provisions of these Terms and Conditions will take precedence over any other terms between us and you in relation to your Card.

Billing and Payments of EMI Installments

• Based on the acceptance of the EMI Terms and Conditions by the Main Cardholder, the EMI shall be billed to the Main Cardholder starting from the statement following the date of Card Transaction, and every month thereafter until the total EMI Amount is settled and paid in full.
• In case of availing the EMI facility, the Minimum Payment Amount on the Card Statement shall include but not limited to all outstanding Liabilities and other amounts plus the EMI Monthly Installment(s) and any excess amounts over the Credit Limit and all past due amounts if any.
• If the Main Cardholder pays less than the Monthly Minimum Amount on the Payment Due Date as specified in the Card Statement, the Main Cardholder becomes liable to pay Charges as per the Bank’s Retail Banking Fees and Charges.
• The Main Cardholder may request a change in the period of EMI. However, it is the discretion of the Bank to accept/agree to such request.
• The Main Cardholder may be allowed to repay the Outstanding EMI amount in lump sum payment subject to the payment of early settlement charges to the Bank. Subject to early settlement charges, the Main Cardholder has the option to repay the Outstanding EMI amount in a single lump sum. The Bank reserves the right to periodically review and adjust prepayment charges at its discretion subject to fulfilling regulatory requirements.
• Reward Points are earned on the transaction conducted and not the amount converted into EMI.
• In case the Card Account is cancelled or not renewed by the Bank or if the Main Cardholder terminates the Card, the EMI Transaction will be terminated automatically, and the Main Cardholder will be liable to pay the remaining / outstanding Installments immediately along with the early settlement charges upon receipt of the Card Statement.

Modifications, Amendments and Cancellation

• The Bank reserves the right to terminate the EMI or cancel or vary its benefits or features, or vary, or add or delete any of the EMI Terms & Conditions at any time as per the Bank’s sole discretion by giving a minimum of 30 days’ notice. Any amendments to the EMI Terms and Conditions will be notified to the Main Cardholder as deemed appropriate by the Bank in line with CBB guidelines. The Bank is also entitled to determine the minimum transaction amount allowed under the EMI for each particular offer.
• At its discretion, the Bank may disqualify any Main Cardholder from further participation if, in the Bank’s judgment, the Main Cardholder has violated the EMI Terms & Conditions, the General Terms & Conditions, or for any other reason deemed appropriate by the Bank, without the need to provide a specific reason.
• In case of order cancellations/refund of Card Transaction /reversal of Card Transaction, it is Main Cardholder’s responsibility to call the Bank and cancel the relevant instalment plan.

Product Liability

• The Bank shall not be liable for any damage or loss incurred by the Main Cardholder arising out of the Card Transaction, installation, use or otherwise of the good(s) and / or service(s) under EMI for any negligence, breach of statutory or other duty on part of the Bank, neither will the Bank be responsible in any way for the condition and quality of the good(s) and / or service(s) purchased under EMI or otherwise. Any complaint as to the quality of goods purchased or services rendered through EMI shall be referred directly by the Main Cardholder to the supplier or Merchant from which the goods or services were obtained and shall not affect Main Cardholder’s obligation to continue paying the EMI to the Bank.
• BisB is not responsible for the products specification and/or timing/efficiency/ quality of the purchased goods or services that are converted to EMI.
• The Bank providing EMI service is not acting as corporate agent/distributor of third-party product/service provider and shall not be responsible in any manner to any person or to any claim under the said products/services

General Provisions

• The Terms and Conditions herein shall be without prejudice to the existing Credit Card Terms and Conditions governing the issue of and use of the Bank’s Credit Card and shall apply to EMI. The Terms and Conditions governing EMI are in addition to and not in substitution of the Credit Card Terms and Conditions governing Card usage.
• The Bank shall not be liable in any manner whatsoever for any difference that may arise between any Merchant and the Cardholder concerning a Card Transaction that is the subject of payment.
• The Cardholder accepts full liability for all losses incurred and for all debits to his or her Card Account in accordance with these Terms and Conditions. Any other facilities or benefits made available to Cardholders as such as and not forming part of these Terms and Conditions may be withdrawn at any time without notice by the Bank.
• Continuation of using the Card by the Cardholder upon receiving notification of amending these Terms and Conditions shall be construed as an acceptance of these amendments.
• The Cardholder undertakes and agrees to indemnify the Bank against any actual loss, damages, liabilities, and incurred costs and expenses, that may arise due to these Terms and Conditions or any breach there. All actual costs and expenses related to such matters may be charged to the Card Account or any other account opened for the Cardholder with the Bank.
• If the Bank becomes aware of any fraud, deceit, misconduct, or similar action during or in relation to the EMI. Then the Bank reserves the absolute right to exclude the Cardholder from the EMI plan.

Applicable Law

• These Terms and Conditions shall be governed by, and construed in accordance with, the applicable laws of the Kingdom of Bahrain and in accordance with the Sharia’a standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), if a conflict arises between the applicable laws and the Sharia’a principles, the latter shall prevail.
• The Cardholder acknowledges and agrees that the concept of the payment of interest is repugnant to the principles of Shariah. In the event that any legal system imposes an obligation to pay interest, whether through contract or statue, the Cardholder explicitly and irrevocably waives and rejects any entitlements to recover interest from the Bank.
• In the case of either a claim by the Bank against the Cardholder or a dispute between the Bank and the Cardholder, the Cardholder agrees to irrevocably submit to the non-exclusive jurisdiction of the courts of the Kingdom of Bahrain.
• In the case of conflict between the English and Arabic versions of these terms and conditions, the latter shall prevail.