AIFC definition
Examples of AIFC in a sentence
An Account is opened within three business days following the day the Bank receives from the Customer a full package of documents required to open the Account as per the AIFC rules, the legislation of the Republic of Kazakhstan, and the Bank's internal policies.
The closure shall be made no later than thirty (30) business days after the Bank receives the Customer's application, unless otherwise provided by the AIFC rules, the legislation of the Republic of Kazakhstan, or the Bank’s internal policies.
The closure of such Accounts shall be conducted as per the AIFC rules, the legislation of the Republic of Kazakhstan, and Sharia.
When opening an Account, the Customer assumes the risks associated with opening and maintaining the Account, which may arise in connection with restrictions established by the AIFC authorities, government bodies of the Republic of Kazakhstan, and Sharia.
Instructions in the Account disposal shall be made in English and/or Russian, published on standard forms, with mandatory details determined by the law of the AIFC and/or the legislation of the Republic of Kazakhstan or, in the absence thereof, applied by the Bank and/or business customs.
The Bank has the right to unilaterally amend the Tariffs without prior approval by the Customer, in cases that do not contradict the AIFC rules, the legislation of the Republic of Kazakhstan and Sharia.
All transactions in the Account are conducted in foreign currency as per the AIFC rules, the currency legislation of the Republic of Kazakhstan, and this Agreement.
The Bank shall notify the Customer of its intention to close the Account as per the relevant timelines specified by the AIFC rules and the legislation of the Republic of Kazakhstan.
All other Customers shall not use the Account for any illegal actions prohibited by the AIFC rules, the legislation of the Republic of Kazakhstan in force, Sharia, or this Agreement.
The Bank reserves the right to close any Account that remains inactive for one (1) calendar year and to dispose of any positive balance as per the AIFC rules, the applicable legislation of the Republic of Kazakhstan in effect at the time, and Sharia.