Invest in Gold

1. Important information

1.1 These Aspora Gold UAE Terms and Conditions apply when you access or use the gold services made available through the Aspora mobile application in the United Arab Emirates.

1.2 Aspora Gold UAE allows eligible customers to buy, hold, lease, sell and, where enabled, redeem or take delivery of gold through OGold Precious Metals Trading LLC (“OGold” or the “Authorised Vendor”), and to set up recurring purchases (“SIP”). Store redemption at participating Kalyan Jewellers stores is available only when expressly enabled in Aspora App and the applicable store redemption process and terms have been disclosed to you before you submit a request.

1.3 Aspora provides the digital interface through which you may access the Gold Services offered by Authorised Vendor. Aspora may provide onboarding support, collect KYC information, display transaction information and provide first-level customer support, as may be required to allow you to access the Gold Services offered through the Platform.

1.4 Aspora does not sell gold to you, buy gold from you, store gold, act as custody gold, insure gold, operate any vault, deliver gold, lease, borrow, deploy or generate any return on gold, guarantee gold prices or provide investment, tax, legal, financial or Sharia advice.

1.5 The Gold Services are provided by the Authorised Vendor. The Authorised Vendor is responsible for gold procurement, allocation, pricing, storage, insurance, delivery, fulfilment, transaction lifecycle support, customer due diligence, AML/CTF checks, sanctions screening and other gold-related operational matters.

1.6 By using Aspora Gold UAE, you agree to these Terms, the Aspora App terms, Aspora’s privacy notice, any applicable product disclosures, any risk warnings shown in the Aspora App and the Authorised Vendor’s applicable terms.

1.7 Gold prices may rise or fall and you may receive less than you paid. Gold is not cash, e-money or a bank deposit. All digital gold you buy or hold through Aspora Gold UAE, including gold bought under an SIP, is allocated to OGold’s Wakalah Earning Feature, under which you appoint OGold as your agent (wakil). The feature exposes your gold to commercial loss and returns are not guaranteed.

2. Definitions

In these Terms:

2.1 Aspora, we, us or our means Aspora Information Technology Services L.L.C S.O.C, which provides access to the Aspora App in the UAE.

2.2 Aspora App or Platform means the mobile application or digital platform operated by Aspora or its affiliates.

2.3 Customer, you or your means an eligible Aspora user who accesses or uses the Gold Services offered through the Platform in the UAE.

2.4 Gold Provider or OGold or Authorised Vendor means O Gold Precious Metals Trading LLC or any replacement UAE gold provider notified to you through the Platform.

2.5 Gold Services means purchase, lease, sale, storage, eligible physical delivery and redemption, pricing, holdings records and the Wakalah Earning Feature provided by OGold; the SIP is an instruction to make repeated purchases through those services.

2.6 Wakalah Earning Feature means the agency arrangement under which OGold deploys your digital gold as your agent (wakil), as described in the separate Aspora Gold Wakalah Earning Feature Terms, which apply to all digital gold held through Aspora Gold UAE and are linked under “Wakalah Earning Feature” below.

2.7 Gold Holding means the quantity of gold owned by you and recorded for your benefit on the Authorised Vendor’s ledger, including gold bought under an SIP. Your Gold Holding, including any gold restored to it, is allocated to the Wakalah Earning Feature and is subject to its feature-specific terms and risks.

2.8 KYC Information means information required for identity verification, anti-money laundering, counter-terrorist financing, sanctions screening, fraud prevention, source of funds checks, source of wealth checks and customer due diligence.

2.9 Transaction means any instruction to buy, sell, redeem, withdraw, deliver, transfer or otherwise deal with gold through Aspora Gold UAE.

2.10 Vault Operator means any vault, custodian, storage provider, refinery, logistics provider or similar service provider appointed by the Authorised Vendor.

3. Aspora’s role

3.1 Aspora’s role is limited to providing access to Aspora Gold UAE through the Aspora App and supporting related onboarding and customer service processes.

3.2 Aspora may:

(a) make Aspora Gold UAE available in the Aspora App;

(b) collect and process KYC Information;

(c) share KYC Information, personal data and Transaction information with the Authorised Vendor and relevant service providers;

(d) display indicative gold prices, balances, order status and other information received from the Authorised Vendor;

(e) provide first-level customer support;

(f) escalate complaints, delivery issues, balance issues, refund issues, chargebacks, fulfilment issues and operational matters to the Authorised Vendor; and

(g) send you notices, confirmations, risk warnings, product disclosures and operational updates.

3.3 Aspora does not:

(a) sell gold to you;

(b) buy gold from you;

(c) provide custody or safekeeping of gold;

(d) operate or control any vault;

(e) insure your Gold Holding or any physical product (OGold insures all gold it holds or stores, including gold deployed under the Wakalah Earning Feature, against loss, theft or damage, and insures physical deliveries until handover);

(f) provide delivery or logistics services (delivery is arranged, insured and performed by OGold or its carrier);

(g) guarantee the availability, quality, purity, storage, delivery, liquidity or resale of gold;

(h) guarantee any price, return, yield, profit or appreciation;

(i) provide investment, financial, tax, legal or Sharia advice;

(j) act as trustee, custodian, broker, dealer or depositary in respect of your Gold Holding;

(k) independently lease, lend, borrow, pledge or deploy your Gold Holding (leasing is facilitated solely through the Authorised Vendor under the Wakalah Earning Feature); or

(l) guarantee, fund or underwrite any earnings, return or yield.

4. Authorised Vendor’s role

4.1 The Authorised Vendor is the Gold Provider and is your counterparty for the Gold Services.

4.2 The Authorised Vendor shall be responsible for:

(a) accepting, rejecting, delaying or cancelling Transactions;

(b) verifying your KYC Information and carrying out AML/CTF, sanctions, fraud and source-of-funds checks;

(c) procuring, allocating, recording and maintaining records of gold;

(d) arranging storage, vaulting and insurance;

(e) appointing vault operators, refineries, logistics providers, payment providers, auditors and other third-party service providers;

(f) calculating gold prices, spreads, mark-ups, fees, charges and taxes;

(g) arranging sale, redemption and physical delivery where available;

(h) resolving escalated operational issues and complaints; and

(i) complying with applicable laws and regulatory requirements relating to the Gold Services.

4.3 Authorised Vendor may use affiliates, contractors and third-party providers to perform the Gold Services.

4.4 Aspora does not perform OGold’s sale, custody or delivery obligations. Aspora remains responsible for its own Aspora App, disclosures, instructions it sends, payment facilitation where applicable, first-level support and promptly escalating and following up on customer complaints. Nothing here limits either party’s liability to the extent it cannot lawfully be excluded.

5. Eligibility and onboarding

5.1 You may use Aspora Gold UAE only if:

(a) you have an active Aspora account;

(b) you satisfy Aspora’s onboarding requirements;

(c) you satisfy Authorised Vendor’s onboarding and customer due diligence requirements;

(d) you provide all requested KYC Information;

(e) you are not located in a restricted jurisdiction;

(f) you are not subject to sanctions or other legal restrictions;

(g) your use of Aspora Gold UAE is lawful; and

(h) you satisfy any minimum age, residency, source of funds, source of wealth and transaction purpose requirements.

5.2 Aspora or Authorised Vendor may request additional information at any time, including identity documents, address documents, bank account information, payment information, tax information, occupation, employer information, source of funds, source of wealth and transaction purpose.

5.3 Aspora or Authorised Vendor may refuse, delay, reverse, cancel, suspend or limit any Transaction if:

(a) your KYC Information is incomplete, inaccurate or unacceptable;

(b) further due diligence is required;

(c) any AML/CTF, sanctions, fraud, tax, legal, regulatory or reputational concern is identified;

(d) your Transaction appears suspicious, unusual or inconsistent with your profile;

(e) required payment has not been received, cleared or settled in a timely manner;

(f) a technical, pricing, reconciliation, system or operational error has occurred;

(g) Authorised Vendor is unable to source, allocate, store, sell, redeem or deliver gold;

(h) a payment provider, bank, card network, acquirer, payment gateway, vault operator, logistics provider, regulator, law enforcement authority or court requires or permits refusal, delay or suspension; or

(i) Aspora or Authorised Vendor reasonably considers it necessary to protect customers, comply with law or manage risk.

5.4 Aspora or Authorised Vendor may freeze, suspend or restrict your use of Aspora Gold UAE while any review, investigation, dispute, chargeback, reversal, complaint, regulatory check or legal process is ongoing.

6. Customer consent to data sharing

6.1 By using Aspora Gold UAE, you authorise Aspora to collect, use, store and share your KYC Information, personal data, Transaction data and support information with:

(a) the Authorised Vendor;

(b) any vault, custodian or Wakalah deployment provider to the extent needed to provide the Gold Services, including the Wakalah Earning Feature;

(c) any payment provider, acquirer, bank, card network or payment gateway;

(d) any logistics, courier or delivery provider;

(e) any identity verification, AML, sanctions screening, fraud prevention or compliance provider;

(f) any auditor, regulator, tax authority, law enforcement authority, court or government body; and

(g) Aspora’s affiliates, contractors and service providers.

6.2 This data sharing may be used for onboarding, customer due diligence, AML/CTF checks, sanctions screening, fraud prevention, Transaction processing, pricing, storage, vaulting, delivery, reconciliation, reporting, complaints, refunds, chargebacks, legal obligations, regulatory compliance, and administration of the Wakalah Earning Feature.

6.3 OGold and any properly disclosed provider may process personal data as separate controllers or processors, as applicable, for the limited purposes described in the privacy notice. Each party is responsible for its own compliance with applicable data protection law; delivery partners receive only the information needed to perform delivery.

6.4 You must ensure that all information you provide is accurate, complete and up to date.

6.5 If you refuse or withdraw any consent required to provide Aspora Gold UAE, Aspora or the Authorised Vendor may refuse, suspend or terminate your access to Aspora Gold UAE.

7. Purchase orders

7.1 You may place an order to purchase gold through the Aspora App, subject to eligibility, availability, limits, pricing, KYC approval, payment approval and the Authorised Vendor’s acceptance.

7.2 Any gold price displayed in the Aspora App is indicative until your order is accepted and confirmed.

7.3 Gold prices may change at any time due to market movements, exchange rates, liquidity, spreads, mark-ups, taxes, fees, payment costs, settlement delays, technical issues or other factors.

7.4 A purchase order is not binding unless and until:

(a) you submit a valid instruction;

(b) payment has been authorised, received, cleared and/or settled as required;

(c) all required KYC, AML/CTF, sanctions and fraud checks have been completed to Authorised Vendor’s satisfaction;

(d) Authorised Vendor accepts the order; and

(e) Authorised Vendor records or confirms the relevant Gold Holding in your account, wallet, ledger or sub-account.

7.5 The Authorised Vendor may reject an order after submission if the order cannot be processed, payment fails, checks are not completed, gold is unavailable, a pricing error occurs, or the order creates legal, regulatory, operational or risk concerns.

7.6 If your purchase order is rejected after payment has been received, the relevant amount will be refunded or returned in accordance with applicable payment rules, subject to any lawful fees, deductions or charges, as applicable.

7.7 Once a purchase order is accepted and completed, you may not cancel it unless required by applicable law or expressly permitted by the Authorised Vendor.

8. Ownership and nature of Gold Holdings

8.1 Your rights in your Gold Holding depend on the structure used by the Authorised Vendor and the applicable product disclosure.

8.2 Your Gold Holding may represent:

(a) allocated gold;

(b) fractional ownership of larger bars;

(c) pooled gold;

(d) gold units;

(e) ledger balances backed by physical gold;

(f) another structure disclosed by the Authorised Vendor; or

(g) for gold allocated to the Wakalah Earning Feature (which is all digital gold held through Aspora Gold UAE), the rights and risks stated in its specific terms, including the process for withdrawal of gold before sale or physical delivery.

8.3 You should read the applicable product disclosure carefully before placing a Transaction.

8.4 Aspora does not hold legal title to your Gold Holding and does not treat your Gold Holding as Aspora property.

8.5 The Authorised Vendor is responsible for maintaining records of your Gold Holding.

8.6 Your Gold Holding is not a cash balance, bank deposit, e-money balance, payment account or guaranteed investment.

8.7 Aspora does not represent that your Gold Holding is protected by any deposit guarantee scheme, investor compensation scheme or similar protection scheme.

9. Storage, vaulting and insurance

9.1 Gold purchased through Aspora Gold UAE will be stored by or on behalf of the Authorised Vendor with a Vault Operator.

9.2 Aspora does not operate, control, supervise or audit any vault.

9.3 Storage, custody, vaulting, insurance, audit and reconciliation arrangements are the responsibility of the Authorised Vendor and/or the relevant Vault Operator.

9.4 OGold is responsible for custody and insurance. All gold held or stored by or for OGold, whether in storage or deployed under the Wakalah Earning Feature, is insured against loss, theft or damage. The risk of physical loss, theft or damage to your gold rests with OGold while it is deployed under the Wakalah Earning Feature; this is separate from the commercial risk described in the Wakalah Earning Feature Terms. Physical products are insured for their full replacement value from allocation until verified handover, including in transit, and OGold bears the risk of loss, theft or damage until then. Insurance does not guarantee a return on gold allocated to the Wakalah Earning Feature.

9.5 Insurance may not cover all losses. Exclusions may include market loss, price movements, customer error, fraud, identity theft, cyber incidents, unauthorised account access, government action, force majeure events, delivery issues after acceptance and other exclusions specified by the insurer or the Authorised Vendor.

9.6 The Authorised Vendor may change the Vault Operator, storage location, logistics provider, insurance arrangements or audit process, subject to applicable law and the Authorised Vendor’s terms.

9.7 You may not directly instruct any Vault Operator unless the Authorised Vendor expressly permits this.

10. Sale of gold

10.1 You may ask to sell eligible Gold Holdings through Aspora App at the price confirmed at execution. Because your Gold Holding is allocated to the Wakalah Earning Feature, the quantity you wish to sell, including any earnings credited to it, must first be withdrawn in accordance with the feature’s displayed exit and settlement process; Aspora App shows the expected processing time before you confirm, and no immediate exit, price or settlement is promised. Earnings are credited to you in gold and added to your Gold Holding under the Wakalah Earning Feature. They are not shown as a separate balance or tab in Aspora App, and you cannot exit, withdraw or sell earnings on their own. If you want to sell gold equal to your earnings, you must work out that quantity from the earnings credit shown in your transaction history, withdraw that quantity from the Wakalah Earning Feature and then place a sale for that number of grams. You should check the quantity before you confirm; a completed sale will not be reversed or adjusted because the grams you entered differ from your earnings.

10.2 The sale price displayed in the Aspora App is indicative until the sale order is accepted and executed.

10.3 The sale price may differ from the purchase price due to market movements, spreads, mark-ups, fees, taxes, FX rates, liquidity and payment costs.

10.4 Sale proceeds will be paid in accordance with the applicable payment method, settlement cycle and the Authorised Vendor’s terms.

10.5 Aspora is not liable for market price changes between the time you view a price, submit an order, receive confirmation or receive sale proceeds.

11. Store redemption with Kalyan Jewellers

11.1 Where enabled, you may convert the value of eligible digital gold at the confirmed rate into an AED-denominated, single-use and time-limited redemption credential for a participating Kalyan Jewellers store shown in Aspora App. Aspora App will display the grams, rate, AED credit, any charge, participating stores, validity period and identification process before confirmation. The grams applied must first be withdrawn from the Wakalah Earning Feature under its exit process. An expired, cancelled or unused credential is cancelled and the value restored as digital gold to your Gold Holding; no store purchase is treated as completed merely because a credential is issued.

11.2 At the store, Kalyan validates the credential before applying its AED value to a jewellery purchase. You pay any price difference directly to Kalyan; no cash change or cash withdrawal is available unless law requires it. Redemption becomes final only when the store applies the credit to a purchase and records completion. Kalyan is the jewellery seller and is responsible for product price, description, purity, hallmarking, invoice, delivery, returns and warranty. Aspora handles your digital gold balance and credential support and will coordinate any failed validation or correction with Kalyan and OGold. A return of jewellery is handled by Kalyan under applicable law and the store policy disclosed at sale; any reversal of a completed credit requires an agreed reconciliation or a legal requirement.

12. Physical gold orders and delivery

12.1 Where enabled, you may order an eligible sealed gold bar or coin for delivery to a serviceable residential or commercial street address in the UAE. Each product is individually sealed in tamper-evident packaging showing the refiner, weight, purity (minimum 999.9) and any serial number. OGold is the supplier and performs allocation, minting, packing, insured delivery and after-sales fulfilment, and may decline an address its carrier does not serve. Availability, minimum product size and the product catalogue are displayed before checkout; delivery outside the UAE is unavailable.

12.2 An order is paid by applying an eligible amount of your existing digital Gold Holding, converted at the rate displayed and confirmed at checkout. The grams applied must first be withdrawn from the Wakalah Earning Feature under its exit process. Promotional gold and gold under a lawful hold may be ineligible. We show the digital grams used, their conversion rate and AED value, and any residual holding before you confirm.

12.3 The checkout shows the physical product and its total price, with any making or minting charges, delivery charges, applicable redelivery charges and VAT shown separately, and the quantity of digital gold needed to pay that total at the confirmed rate. The total price is paid only from your digital Gold Holding; no separate cash or card payment is collected for a delivery order. If your eligible Gold Holding is less than the quantity needed, you must first buy enough digital gold to cover the shortfall and then place the delivery order again. OGold may accept or reject the order following eligibility checks. An accepted order debits only the digital grams actually applied; if OGold rejects it, those grams are restored to your Gold Holding, subject to a lawful hold.

12.4 The displayed physical product price is held for five minutes, subject to sufficient eligible digital Gold Holding being available to pay the total price and to OGold’s confirmation. If the window expires, or if you need to buy digital gold to cover a shortfall under clause 12.3, a fresh quote and your confirmation are required. The price, metal conversion rate and charges applicable to an accepted order are recorded in its confirmation.

12.5 Once you confirm a Physical Gold Delivery Order at checkout, you cannot cancel, change or reverse it, including because you have changed your mind. The digital grams applied to the order are debited from your Gold Holding when you confirm and may be restored in the circumstances set out in these Terms, including clauses 12.3, 12.5, 12.9 and 12.10. Aspora or OGold may refuse, correct or cancel an order where these Terms or applicable law allow, including for a pricing, system, fraud, compliance or operational error; if an order is cancelled for any of those reasons, the digital grams applied are restored to your Gold Holding. This clause does not affect your rights or remedies for non-delivery, incorrect or defective products, or any other right that cannot lawfully be excluded.

12.6 OGold may use completed KYC information and request further identity, source-of-funds or other checks before accepting or delivering an order. The named customer must provide the original identity document shown in Aspora App’s delivery instructions (Emirates ID, or passport if OGold accepts it) at handover. We will tell you if further verification is needed.

12.7 OGold arranges insured delivery itself or through a vetted and insured carrier for whose acts and omissions it remains responsible. OGold or its carrier will contact you to agree a delivery window on a Business Day between 10:00 am and 6:00 pm UAE time. After OGold confirms the order and the digital grams applied have been debited from your Gold Holding, it will allocate the product within one Business Day, dispatch it within three to five Business Days after allocation and normally attempt delivery within two Business Days after dispatch, subject to lawful holds and communicated delays. OGold provides tracking and promptly tells you of a material delay and the revised estimated date. Business Days exclude Saturdays, Sundays and UAE public holidays.

12.8 Delivery is made to the named customer in person at the confirmed address after identity verification and a signed delivery record; no receptionist or substitute may accept it. OGold bears risk of loss or damage until verified handover. Do not accept an apparently damaged or unsealed parcel; contact Aspora support promptly so OGold can investigate. Signing does not remove your rights for a concealed defect or a wrong product.

12.9 OGold will make up to two delivery attempts. If both attempts fail because you are unavailable or do not meet the disclosed handover checks, OGold will cancel the order and restore the digital gold grams applied to it to your Gold Holding. The grams restored are those applied at checkout, not a recalculated amount at the price on the date of restoration. A making or delivery charge may be deducted only to the extent actually incurred, disclosed before checkout and permitted by law. If OGold or its carrier caused a failed attempt, OGold will arrange a further delivery attempt at its own cost or, if the order is cancelled, restore all grams applied, including for charges. No cash refund is paid.

12.10 Contact Aspora through Aspora App promptly if the product is missing, incorrect, below the stated weight or purity, damaged or defective. We will coordinate with OGold for collection, verification (including independent testing where appropriate, at OGold’s cost where your complaint is upheld) and, at your election, replacement of the product or restoration of the digital grams applied, including for applicable charges. If the product is not delivered, or is lost, stolen or damaged before handover, OGold will promptly provide the same remedy at your election. A broken seal alone does not bar a valid claim for a latent defect. Your statutory remedies remain available.

13. Fees, spreads, mark-ups and taxes

13.1 You may be charged fees, spreads, mark-ups and costs in connection with Aspora Gold UAE.

13.2 The checkout displays the product price, charges and applicable VAT separately. The VAT treatment of the gold depends on the nature of the product and applicable law; qualifying investment precious metals may be zero-rated, while separate making and delivery services may attract VAT at the applicable rate. The order confirmation and supplier tax invoice state the actual treatment for your transaction.

13.3 OGold is the supplier and issues, or causes to be issued on its behalf, the applicable tax invoice. Aspora may display an Aspora-branded order summary identifying OGold as supplier. A customer will receive a record of the gold grams used, charges and VAT.

13.4 These may include:

(a) purchase spread or mark-up;

(b) sale spread or mark-down;

(c) storage or vaulting fees;

(d) insurance fees;

(e) payment processing fees;

(f) card, bank, payment gateway, acquirer or network charges;

(g) delivery, minting, fabrication, packaging or courier fees;

(h) FX conversion charges;

(i) taxes, VAT, customs, import or withholding charges;

(j) inactivity, account, administrative or recovery fees; and

(k) any other fees disclosed in the Aspora App or by the Authorised Vendor.

13.5 Fees may be deducted from your payment, sale proceeds, account balance, Gold Holding or linked payment method.

13.6 You are responsible for all taxes, reporting, duties and charges arising from your use of Aspora Gold UAE.

13.7 Aspora does not provide tax advice.

13.8 Aspora or the Authorised Vendor may change applicable fees, spreads, mark-ups or charges from time to time.

14. Payments and settlement

14.1 Payments may be facilitated by Aspora through the Authorised Vendor, a payment partner, acquirer, bank, card network, payment gateway or other third-party payment provider.

14.2 Depending on the payment model used, the Authorised Vendor or its appointed payment processor may be the merchant of record.

14.3 Where the Authorised Vendor or its appointed payment processor is the merchant of record, Aspora does not collect, hold or transmit customer funds for the relevant Transaction.

14.4 A Transaction may not be completed until payment has been authorised, received, cleared and reconciled.

14.5 If a payment is reversed, charged back, refunded, rejected, delayed, cancelled or found to be fraudulent, the corresponding Transaction may be cancelled, reversed or adjusted.

14.6 If payment failure occurs after gold has been allocated, the Authorised Vendor may reverse the allocation, sell the relevant gold, freeze your account, recover the relevant amount from you or take any other action permitted by law.

15. Refunds, reversals and chargebacks

15.1 A completed gold purchase or sale is generally final at execution, subject to error correction, a failed purchase, a statutory remedy or an expressly stated refund policy. Physical orders are subject to the specific cancellation, failed-delivery and defect remedies above. A completed SIP purchase remains yours if you cancel the standing instruction.

15.2 We may need to investigate or delay a refund where a lawful hold, card-network process or unresolved evidence reasonably requires it, and will explain the position and expected next step where permitted by law. We will not refuse a refund solely because OGold disputes liability, gold prices have moved or an executed order subsequently failed through OGold’s fault.

(a) A gold order that cannot be fulfilled after a successful debit is refunded under the SIP or physical-order provisions below.

(b) A completed gold holding may be adjusted only as required to reverse a specific erroneous, fraudulent or refunded transaction, with a clear transaction record and notice where lawful.

(c) Incorrect information supplied by you may require verification and delay, but does not remove a remedy for OGold’s own failure or an applicable statutory right.

(d) A KYC or sanctions hold is handled under applicable law, with a refund or restoration of gold when legally permitted.

(e) Where a refund relates to a gold purchase, including an SIP instalment, it is paid in money to the original payment method, and a refund to a card or bank account may take the processing time required by the relevant provider; we will help trace a delayed refund. Where a refund relates to a Physical Gold Delivery Order or a Kalyan Jewellers redemption credential, it is made by restoring the digital gold grams applied to your Gold Holding, and no cash refund is paid.

(f) Market price movement alone does not remove a refund or restoration due for an unfulfilled or defective order.

(g) OGold and Aspora will investigate disputes in good faith and keep you informed of the outcome.

(h) These provisions are subject to your mandatory rights under applicable law.

15.3 If a card payment is disputed or reversed, Aspora and OGold may investigate and take proportionate steps to prevent fraud or duplicate recovery. A valid complaint, chargeback or request for a legal remedy does not by itself forfeit a Gold Holding, and any reversal or adjustment must be supported by the transaction record and applicable payment rules.

15.4 Unresolved chargebacks and payment reversals: If a payment relating to your Gold Services is charged back or reversed, we will notify you in writing of the affected Transaction, the amount concerned and the steps reasonably required to resolve the matter. You must cooperate with the investigation and, within fifteen (15) calendar days after receiving that notice, provide any reasonably requested information or pay any amount properly due from you. If the matter remains unresolved after that period, Aspora may suspend or restrict your access to Aspora Gold UAE to the extent reasonably necessary to manage the associated payment or fraud risk. Aspora or the Authorised Vendor, as applicable, may also issue a formal legal notice and pursue lawful recovery of any amount properly due to it. Any restriction will be reviewed and lifted promptly once its grounds no longer apply, unless another lawful ground for restriction remains. Nothing in this paragraph requires you to withdraw a valid chargeback, limits your rights under applicable law or payment-network rules, or results in automatic forfeiture of your Gold Holding.

16. Recurring gold purchases (SIP)

16.1 A Gold SIP is a standing instruction to buy 24-carat gold from OGold at a fixed AED amount on a weekly or monthly schedule you select. You may maintain more than one SIP; each has its own amount, schedule and card mandate. OGold records purchased gold in its custody ledger and arranges vaulting. A SIP is a recurring purchase instruction. It is not a deposit and does not guarantee a return or a fixed quantity of gold.

16.2 At setup, you expressly authorise the initial card payment and future merchant-initiated charges for that SIP, each no greater than the SIP amount you approve. The initial debit and, if successful, purchase occur at signup; applicable 3-D Secure authentication is completed for the first card authorisation. The payment provider stores the consent record, including amount, schedule and time. Subsequent scheduled debits may be initiated without another interactive authentication, subject to card-network and issuer requirements. A changed amount, schedule or card requires your fresh mandate and your consent before further debits.

16.3 Weekly debits recur on the chosen weekday and monthly debits on the selected calendar date. If the selected date does not occur in a month, that month’s debit is made on the nearest earlier date that does occur (for example, on the 30th for an SIP set for the 31st, or on the 28th or 29th of February for an SIP set for the 29th, 30th or 31st). A scheduled debit falling within 72 hours after signup is skipped; the signup purchase is the only purchase in that period. We send a pre-debit notice to your registered contact channel before each subsequent scheduled debit stating the amount and due date; the notice is informational and you may cancel the SIP before a debit is initiated.

16.4 If a scheduled debit fails, we will retry it on the next calendar day and again on the third calendar day after the scheduled date. Each attempt is capped at the approved SIP amount, and no more than one successful purchase is made for that cycle. If all three attempts fail, that cycle is skipped and your SIP continues on its next scheduled weekly or monthly date unless you cancel it. Bank or card issuer charges may apply independently. You can see the status of each cycle in the App.

16.5 After a successful debit, OGold buys gold at its live provider price when the purchase is executed, subject to its acceptance, market availability and compliance checks. The price and grams are locked only at execution, and may differ from any price or quantity estimated at setup or in a pre-debit notice. Aspora App displays applicable spread, fees and the executed price and grams in your confirmation. Projections based on historical compound annual growth rates are illustrations, not promises of future gold prices, growth or results.

16.6 If a debit succeeds but OGold rejects the order or the gold purchase cannot be completed, no gold is treated as purchased. The full amount taken for that cycle is returned promptly to the original card, and we will show its status and help investigate any delay. Any lawful hold will be explained where permitted. We will not retry the purchase at a new price without a valid instruction.

16.7 You may cancel any SIP in Aspora App at any time without a cancellation fee. Cancellation stops future debits that have not already been initiated, but does not undo a completed purchase or affect gold you already own; a debit already initiated may settle and result in a purchase, with the same refund protection for a failed purchase. We confirm cancellation and cease future charges. Changing the payment card requires a fresh consent and a zero-amount card authorisation to verify the replacement card; no purchase charge is made at that step.

16.8 We or OGold may request enhanced KYC and source-of-funds information before further purchases, subject to applicable law. Pending checks, a cycle may be paused or skipped without a debit; if a debit already succeeded and a purchase cannot proceed, it is refunded unless law requires a hold.

17. Wakalah Earning Feature

All digital gold held through Aspora Gold UAE is allocated to OGold’s Wakalah Earning Feature, which is governed by the separate Aspora Gold Wakalah Earning Feature Terms available at www.aspora.com/legal/terms-of-use/ae/wakalah-earning-feature. Those terms explain how your gold may be used and the applicable returns, risks, fees and withdrawal process.

18. Risk warning

18.1 Gold is not cash, e-money, a bank deposit or a guaranteed investment.

18.2 The value of gold may go up or down. You may receive less than you paid.

18.3 You should use Aspora Gold UAE only if you understand the risks.

18.4 Key risks include:

(a) Market risk: gold prices fluctuate and may be volatile.

(b) Spread risk: the buy price and sell price may differ.

(c) FX risk: currency movements may affect your return.

(d) Liquidity risk: you may not always be able to sell immediately or at your preferred price.

(e) Provider risk: the Authorised Vendor or a third-party provider may fail, delay, suspend services or become insolvent.

(f) Custody and vault risk: storage, vaulting and insurance arrangements are provided by OGold or third parties, not Aspora.

(g) Delivery risk: physical delivery may be delayed, unavailable, refused, restricted or subject to additional fees and checks.

(h) Regulatory risk: laws, regulations or regulatory expectations may change.

(i) Technology risk: the Aspora App, the Authorised Vendor’s systems, price feeds or payment systems may be unavailable or inaccurate.

(j) Cyber and fraud risk: unauthorised access, cyber incidents, identity theft or fraud may affect your account.

(k) Tax risk: buying, selling, holding or delivering gold may have tax consequences.

(l) No-advice risk: Aspora does not assess whether gold is suitable for you.

(m) Wakalah risk: all your digital gold is allocated to the Wakalah Earning Feature, which exposes it to commercial loss; returns are not guaranteed, and withdrawing gold from the feature may take time.

18.5 Past performance of gold is not a reliable indicator of future performance.

18.6 Any educational or marketing content displayed in the Aspora App is general information only and is not investment, financial, legal, tax, Sharia or other professional advice.

19. System availability and errors

19.1 Aspora Gold UAE may be unavailable, delayed or interrupted due to maintenance, outages, market conditions, third-party failures, payment issues, price feed issues, cyber incidents, regulatory issues, force majeure or other events.

19.2 Prices, balances, charts, confirmations, order statuses and other information displayed in the Aspora App may be delayed, incorrect or incomplete.

19.3 Aspora and the Authorised Vendor may correct any error, including:

(a) pricing error;

(b) balance error;

(c) allocation error;

(d) payment error;

(e) settlement error;

(f) FX error;

(g) tax or fee error;

(h) delivery error; or

(i) duplicate or mistaken Transaction.

19.4 If an error occurs, Aspora or the Authorised Vendor may reverse, cancel, amend, reprice, freeze, suspend or otherwise correct the affected Transaction where permitted by law.

19.5 You must notify Aspora promptly if you notice any error, discrepancy or unauthorised activity.

20. Account suspension and closure

20.1 Aspora or the Authorised Vendor may suspend, restrict or close your access to Aspora Gold UAE if:

(a) you breach these Terms;

(b) you breach the Authorised Vendor’s terms;

(c) you fail to provide requested information;

(d) you fail KYC, AML/CTF, sanctions or fraud checks;

(e) your account is suspected of fraud, misuse, illegal activity or suspicious activity;

(f) required by law, court order, regulator, payment provider or law enforcement authority;

(g) there is a dispute, chargeback, reversal or unpaid amount;

(h) continuing to provide Aspora Gold UAE creates legal, regulatory, operational, commercial or reputational risk; or

(i) the Authorised Vendor stops providing the Gold Services.

20.2 Suspension may affect your ability to buy, sell, redeem, withdraw, deliver or otherwise deal with your Gold Holding.

20.3 If your Aspora account is closed, your Gold Holding may need to be sold, transferred, delivered or otherwise dealt with in accordance with the Authorised Vendor’s terms and applicable law.

21. Complaints and support

21.1 Aspora will provide first-level support for Aspora Gold UAE.

21.2 You should contact Aspora first if you have a complaint or query relating to:

(a) access to Aspora Gold UAE;

(b) onboarding or KYC;

(c) app display issues;

(d) failed or pending Transactions;

(e) incorrect balances;

(f) refunds, reversals or chargebacks;

(g) delivery or redemption;

(h) fees or pricing;

(i) account suspension; or

(j) any other customer issue.

21.3 Aspora may refer or escalate your complaint to the Authorised Vendor where the issue relates to gold procurement, pricing, allocation, storage, insurance, sale, redemption, delivery, fulfilment, compliance review or the Authorised Vendor’s systems.

21.4 The Authorised Vendor may contact you directly where required for legal, regulatory, KYC, delivery, complaint, fraud prevention or operational purposes.

21.5 Aspora and the Authorised Vendor may require documents, screenshots, transaction references, proof of payment, identity verification or other information before investigating a complaint.

21.6 Complaint resolution timelines may depend on the nature of the issue, the Authorised Vendor, third-party providers, payment networks, delivery partners, banks, regulators and applicable law.

22. Communications

22.1 Aspora may communicate with you through the Aspora App, push notification, email, SMS, WhatsApp, phone or any other contact method you have provided.

22.2 Communications may include confirmations, receipts, KYC requests, delivery updates, complaint updates, legal notices, risk warnings, operational notices, pricing notices, fee notices and regulatory notices.

22.3 You must keep your contact information accurate and up to date.

22.4 Notices sent to your registered contact details will be treated as received unless Aspora receives a delivery failure notification.

23. Customer responsibilities

23.1 You must:

(a) provide accurate, complete and up-to-date information;

(b) keep your account credentials secure;

(c) use Aspora Gold UAE only for lawful purposes;

(d) not use Aspora Gold UAE for money laundering, terrorist financing, sanctions evasion, fraud, tax evasion or illegal activity;

(e) ensure your payment method belongs to you and is lawfully funded;

(f) review prices, fees, confirmations and disclosures before placing any order;

(g) monitor your account and report errors promptly;

(h) comply with applicable tax, customs, import and reporting obligations;

(i) cooperate with KYC, AML/CTF, sanctions, fraud and complaint investigations; and

(j) comply with these Terms and Authorised Vendor’s terms.

23.2 You are responsible for all activity on your account unless caused by Aspora’s fraud, wilful misconduct or breach of applicable law.

24. Limitation of liability

24.1 Nothing in these Terms limits or excludes liability that cannot be limited or excluded by law.

24.2 Subject to the following paragraphs and mandatory law, Aspora is not responsible for losses caused solely by matters outside its reasonable control or by OGold’s independent performance of its supplier duties, but remains responsible for its own breach, inaccurate disclosures, payment instructions, support failures, fraud and wilful misconduct:

(a) gold price movements;

(b) market loss;

(c) loss of profit, opportunity, goodwill, business or anticipated savings;

(d) indirect, special or consequential loss;

(e) Authorised Vendor’s acts or omissions;

(f) acts or omissions of a Vault Operator;

(g) a third-party provider’s independent failure, except where Aspora’s own act or omission caused or contributed to the loss;

(h) a delay in delivery, sale, settlement, redemption or withdrawal caused solely by OGold or an external provider and not by Aspora’s own breach;

(i) rejected, suspended or delayed Transactions due to KYC, AML/CTF, sanctions, fraud or legal checks;

(j) taxes, duties, customs charges or import restrictions;

(k) system outages, price feed errors or data display errors caused by third parties;

(l) force majeure events; or

(m) any loss caused by your breach of these Terms.

24.3 Aspora’s aggregate liability to you in connection with Aspora Gold UAE will be limited to the greater of:

(a) the fees paid by you directly to Aspora for Aspora Gold UAE in the three months before the event giving rise to the claim; or

(b) the minimum amount required by applicable law.

24.4 OGold’s supplier obligations, including delivery, product conformity and customer remedies, are governed by its applicable Aspora-channel terms and mandatory law. Aspora will provide a practical complaint route and follow up with OGold; nothing in OGold’s general terms removes an applicable statutory remedy.

25. Changes to these Terms

25.1 Aspora may update these Terms from time to time.

25.2 Changes may be made to reflect changes to the Gold Services, the Authorised Vendor’s terms, applicable law, regulation, regulator expectations, operational requirements, payment arrangements, tax treatment, compliance controls, fees, product structure or risk controls.

25.3 Aspora may notify you of material changes through the Aspora App, email or another communication channel.

25.4 Continued use of Aspora Gold UAE after changes take effect means you accept the updated Terms.

26. Termination or withdrawal of Aspora Gold UAE

26.1 Aspora may suspend, withdraw, discontinue or terminate Aspora Gold UAE at any time.

26.2 Aspora may do so where:

(a) the Authorised Vendor relationship ends;

(b) the Authorised Vendor can no longer provide the Gold Services;

(c) required by law or regulator expectation;

(d) payment, banking, vaulting, delivery or compliance arrangements become unavailable;

(e) Aspora changes or discontinues the product; or

(f) continuing the product creates unacceptable legal, regulatory, commercial or operational risk.

26.3 If Aspora Gold UAE is terminated, Aspora will use reasonable efforts to provide information about how existing Gold Holdings may be sold, transferred, delivered or otherwise dealt with under the Authorised Vendor’s terms and applicable law.

27. Governing law and disputes

27.1 These Terms are governed by the laws of the United Arab Emirates and, to the extent applicable, the laws of the Emirate of Dubai.

27.2 The courts of Dubai shall have jurisdiction over disputes arising from or in connection with these Terms, unless mandatory consumer law requires otherwise.

28. Further information

The OGold terms and the feature-specific Wakalah terms are available at the links below. If any general OGold term conflicts with a specific Aspora product term or a mandatory consumer right, the specific applicable term and law prevail for that product.

• OGold general terms: https://www.ogold.app/terms-and-conditions

• Wakalah Certification: https://www.ogold.app/shariah-certification

• Aspora Gold Wakalah Earning Feature Terms: www.aspora.com/legal/terms-of-use/ae/wakalah-earning-feature

By using Aspora Gold UAE, you acknowledge that you have been provided access to these terms. The OGold terms apply to the Gold Services provided by the Authorised Vendor.

For the avoidance of doubt, these Terms govern your relationship with Aspora and your use of the Aspora App.

29. Customer acknowledgement

By using Aspora Gold UAE, you confirm that:

(a) you have read and accepted these Terms;

(b) you understand that Aspora is not the seller, buyer, custodian, vault operator, insurer or deliverer of gold;

(c) you understand that the Authorised Vendor provides the Gold Services;

(d) you understand that gold prices may go down as well as up;

(e) you understand that your Gold Holding is not cash, e-money or a bank deposit;

(f) you consent to Aspora sharing your KYC Information, personal data and Transaction data with the Authorised Vendor and relevant service providers; and

(g) you understand that transactions may be delayed or rejected for lawful compliance, payment or operational reasons. You understand that all your digital gold, including gold bought under an SIP, is allocated to the Wakalah Earning Feature under its terms, that this exposes it to commercial loss and that returns are not guaranteed.