Partner Program Terms of Service | Islamic Open Finance™

1. Acceptance of Terms

By applying to, enrolling in, or participating in the Islamic Open Finance™ Partner Program (“Program”), you (“Partner”) agree to be bound by these Partner Program Terms of Service (“Agreement”). This Agreement is entered into between the Partner and Islamic Open Finance™ (“IOF”, “we”, or “us”) as of the date your application is approved. If you do not agree to these terms, you may not participate in the Program.

2. Partner Program Overview

The IOF Partner Program enables qualified organisations and individuals to build, integrate, resell, and advise on the Islamic Open Finance™ platform. Partner tiers include Design Partner, Solution Integrator, Reseller, Technology Partner, and Advisory Partner. Each tier carries distinct rights, obligations, and revenue-sharing structures as described in your executed Partner Agreement and the current Program Guide.

3. Eligibility and Enrolment

To participate in the Program, you must (a) be a legally constituted entity or individual capable of entering binding contracts in your jurisdiction; (b) pass IOF’s onboarding due diligence, including KYC, AML, and Shariah-conduct screening; (c) maintain good standing with applicable regulatory bodies throughout the partnership; and (d) agree to comply with all applicable laws, including those governing Islamic financial services in your jurisdiction. IOF reserves the right to decline or revoke partnership status at its sole discretion.

4. Shariah Compliance Obligations

Partners must conduct all activities under this Agreement in a manner consistent with Shariah principles as interpreted by the AAOIFI Shariah Standards and the IOF Shariah Board. Partners may not use IOF’s platform, brand, or technology to facilitate transactions that involve riba (interest), gharar (excessive uncertainty), maysir (speculation/gambling), or any products prohibited under the AAOIFI Shariah Standards. Breach of this obligation is grounds for immediate termination.

5. Intellectual Property

IOF retains all right, title, and interest in the Islamic Open Finance™ platform, brand, trademarks, rail architecture, SKU taxonomy, API specifications, and proprietary business logic. SDKs, CLI tools, and integration playbooks published under the Apache 2.0 licence are made available under those licence terms. Partners receive a limited, non-exclusive, non-transferable, revocable licence to use IOF’s marks solely in connection with authorised partner activities and in accordance with IOF’s current Brand Guidelines. No other intellectual property rights are granted.

6. Revenue Sharing and Fees

Revenue-sharing rates, referral fees, and any applicable programme fees are set out in the Partner-tier Schedule attached to your executed Partner Agreement and the then-current Programme Guide published at partnership.islamicopenfinance.com. IOF may adjust rates with thirty (30) days’ written notice. All payments are made in USD or GBP as agreed. Partners are solely responsible for any taxes, duties, or levies arising from payments received under this Agreement.

7. Confidentiality

Each party agrees to keep confidential the other party’s non-public information, including product roadmaps, pricing structures, customer data, and technical specifications, and to use such information solely for the purpose of performing obligations under this Agreement. Confidentiality obligations survive termination for five (5) years.

8. Data Handling and Privacy

Partners must comply with all applicable data protection laws, including the UK GDPR and EU GDPR, when processing any personal data obtained through or in connection with the Program. Partners must have a lawful basis for processing, maintain appropriate security measures, and must not share IOF customer data with third parties without IOF’s prior written consent. The IOF Partner Data Processing Agreement (available at /legal/data-processing-agreement) is incorporated herein by reference and must be executed before any personal data is processed.

9. Representations and Warranties

Each Partner represents and warrants that: (a) it has full authority to enter into this Agreement; (b) its participation in the Program will not violate any law, regulation, or third-party agreement; (c) all information provided to IOF during enrolment and throughout the partnership is accurate and complete; and (d) it will not engage in deceptive, misleading, or fraudulent conduct in connection with the Program.

10. Prohibited Activities

Partners must not: (a) misrepresent their relationship with IOF or imply endorsement beyond what is authorised; (b) make false or misleading claims about IOF’s products or Shariah compliance status; (c) engage in practices that violate anti-bribery, anti-corruption, or sanctions laws in any applicable jurisdiction; (d) sublicence, resell, or distribute IOF APIs or platform access except as explicitly authorised in writing; or (e) reverse-engineer, decompile, or attempt to derive source code from the IOF platform.

11. Term and Termination

This Agreement commences on the date of partner enrolment and continues for an initial term of twelve (12) months, renewing automatically for successive twelve-month periods unless either party provides thirty (30) days’ written notice of non-renewal. IOF may terminate this Agreement immediately upon written notice if the Partner breaches any material term, becomes insolvent, or engages in conduct detrimental to IOF’s reputation or Shariah compliance obligations. Upon termination, all licences granted herein cease immediately, and Partner must cease all use of IOF marks and confidential information.

12. Limitation of Liability

To the maximum extent permitted by applicable law, IOF’s aggregate liability to the Partner for any claims arising under or in connection with this Agreement shall not exceed the total fees paid by or to the Partner under this Agreement in the twelve (12) months preceding the claim. In no event shall IOF be liable for any indirect, incidental, consequential, special, or punitive damages, including loss of profits, revenue, data, or business opportunities, even if advised of the possibility of such damages.

13. Indemnification

Partner agrees to indemnify, defend, and hold harmless IOF, its affiliates, officers, employees, and agents from and against any claims, damages, losses, or expenses (including reasonable legal fees) arising from: (a) Partner’s breach of this Agreement; (b) Partner’s negligence or wilful misconduct; (c) Partner’s infringement of any third-party intellectual property or privacy rights; or (d) any misrepresentation made by Partner to IOF customers or prospects.

14. Governing Law and Disputes

This Agreement is governed by the laws of England and Wales. Any dispute arising out of or in connection with this Agreement shall first be referred to good-faith negotiation between the parties. If unresolved within thirty (30) days, disputes shall be submitted to binding arbitration under the rules of the London Court of International Arbitration (LCIA), seated in London, conducted in English.

15. Amendments

IOF may amend these Terms of Service with thirty (30) days’ notice delivered via the Partner Portal or email to the registered contact on record. Continued participation in the Program after the effective date of any amendment constitutes acceptance. If a Partner does not accept an amendment, it may terminate this Agreement by providing written notice before the amendment’s effective date.

16. Contact

Questions regarding these Partner Program Terms of Service should be directed to: partnership@islamicopenfinance.com. Legal notices must be sent in writing to the address registered with your Partner Agreement.