DIFC has enacted a new Data Protection Law (DIFC Law no. 5 of 2020). The new Data Protection Law applies to your relationship with “Gulf International Finance Limited” (hereinafter referred to as “GIFL”) with effect from 1 October 2020. GIFL will process Personal Data it holds about you (the “Company”/ the “Individual”) and you continue to consent to the processing and disclosure of such data, both manually and by electronic means, both inside and, where necessary, outside the DIFC, for the purposes of the administration and management of this engagement. “Processing” includes anything that can be done with or in relation to data. It includes obtaining, recording, holding the data, and carrying out operations on the data, including organizing, erasing, or disclosing.
GIFL collects information about the Company/Individual and its affiliates through various interactions and communications the Company/Individual has with GIFL such as when corresponding with us (for example, by telephone or e-mail). The personal information the Company/Individual gives us may include names, addresses, e-mail addresses and phone numbers, residential building, work address and other information the Company/Individual chooses to provide.
GIFL may use Personal Data which the Company/Individual provides to GIFL or we collect from the Company/Individual to service the Company/Individual to facilitate payments, send receipts, provide advisory on products and services the Company/Individual requests, perform due diligence, comply with anti-money laundering rules and regulations, send information about products, services and news.
GIFL will take all steps reasonably necessary to ensure the Company’s & Individual’s data is processed fairly and lawfully, in accordance with the DIFC Data Protection Law, other applicable laws and our Data Protection Policy. The Company/Individual agrees to such transfer, storing or processing in order for GIFL to perform its functions.
GIFL will retain Personal Data submitted by the Company/Individual to ensure compliance with applicable laws and regulations for a reasonable length of time unless otherwise prescribed by applicable law. GIFL will erase or archive from active use the Personal Data upon request, unless GIFL is required to retain it in accordance with DIFC, DFSA or other applicable laws or to perform agreed services.
GIFL may share the Company’s/Individual’s Personal Data:
(i) with consultants, custodian Banks and other service providers who need access to such Personal Data to carry out work on GIFL behalf or to perform a contract GIFL enters with them;
(ii) in response to a request for information by a competent authority or government entities if GIFL determines that such disclosure is in accordance with, or is otherwise required by, any applicable law, regulation, or legal process;
(iii) with law enforcement officials, government entities or authorities, or other third parties as required by applicable law;
(iv) GIFL otherwise notifies the Company/Individual and the Company/Individual consents to the sharing;
All sharing of Personal Data aligns to the extent possible with the DIFC Data Protection Law and other applicable law.
The Company/Individual agrees that GIFL has the right to transfer the Personal Data to and from and process and store it in the United Arab Emirates and (where applicable or required) with processors in other countries, some of which may have less protective privacy laws than those where the Company/Individual resides or operates. Where this is the case, GIFL will take appropriate security measures to protect the Company’s/Individual’s Personal Data.
The Company/Individual has the option to ask us not to process Personal Data and to remove it from our databases.
The Company/Individual has the right to access information held about it and its affiliates. The right of access can be exercised in accordance with DIFC and other applicable laws. Any access request generally comes at no cost to the Company/Individual, but may where permissible, be subject to a fee to meet any extraordinary administrative costs in providing the details of the information GIFL holds.
The Company/Individual may also request that GIFL restricts erases or otherwise processes the Personal Data in line with the relevant articles providing for such rights set out in the DP Law.GIFL makes every effort to ensure that the Personal Data is secure on our system. When the Company/Individual contacts us about a potential Personal Data error, GIFL will endeavor to confirm or verify the information in question, then correct verified inaccuracies and respond to the original inquiry.
