Terms & Conditions
Kedah Islamic Asset Management Berhad (KIAM)
These Terms & Conditions set out the general terms governing your use of the website and services under the domain kiam.com.my (“Website”). By accessing or using the Website or any service provided herein, you accept and agree to be bound by these Terms & Conditions. If you disagree, do not use the Website.
1. Acceptance of Terms
By accessing Kedah Islamic Asset Management Berhad’s (“KIAM”) platform (“Platform”), opening an account, or using any of our products or services, you acknowledge and agree that you have:
• Read, understood, and accepted the relevant Offering Document, including any prospectus, information memorandum, disclosure document, and supplemental documents applicable to the Fund or Portfolio you invest in;
• Entered into a legally binding relationship with KIAM;
• Agreed to be bound by these Terms and all applicable Offering Documents, as may be amended from time to time.
You further acknowledge that certain provisions within these Terms may affect your rights, including provisions relating to limitations of liability, indemnities, redemption restrictions, and amendments that may result in additional fees or charges.
2. Definitions
• “Fund” refers to a Unit Trust Fund and or Private Mandate offered by KIAM as described in its respective Offering Document.
• “Portfolio” refers to a discretionary or non-discretionary investment management service whereby KIAM manages assets on your behalf in accordance with an Offering Document.
These Terms govern your relationship with KIAM and apply to all accounts, transactions, and services. KIAM is not obliged to accept any application or provide any service.
3. Amendments and Platform Changes
KIAM may amend these Terms at its sole discretion by publishing updated versions on the Platform or website. Continued use of the Platform constitutes acceptance of such changes.
We reserve the right to modify, suspend, or discontinue any aspect of the Platform without prior notice.
4. Client Onboarding and Required Documentation
Before onboarding or providing services, you must submit all documents and information required to satisfy Know Your Client (KYC), AML, and regulatory obligations. You must promptly notify us of any changes to previously provided information.
Failure to provide required documentation may result in delays, refusal of onboarding, or termination of services.
5. Instructions and Authorised Persons
All instructions provided by you—whether verbally, electronically, digitally, in writing, or via email—are legally binding. KIAM is not obligated to verify the authenticity of instructions or the identity of the person issuing them.
You acknowledge the risks associated with different communication channels and agree that KIAM shall not be liable for losses arising from unclear, incomplete, inconsistent, or unauthorised instructions.
Where an authorised person is appointed, you remain fully responsible for their actions.
6. Statements and Communications
Electronic statements will be issued within ten (10) business days following unit creation. Statements may be transmitted via email to your last registered address.
You are responsible for notifying KIAM of any discrepancies within the stipulated timeframes and accept the risks associated with electronic delivery.
7. Switching, Redemption, and Payments
All switching and redemption requests must be submitted through approved channels and are subject to cut-off times and Offering Document provisions.
• Payments and redemptions are strictly non-cash and non-third-party
• Proceeds will only be paid to your verified bank account
• KIAM reserves the right to reject incomplete requests
8. Monies and Distributions
All investment monies must originate from your own bank account. Cash and third-party payments are strictly prohibited.
Unless otherwise instructed, distributions may be automatically reinvested. Currency risks are borne solely by the investor.
9. Representations and Warranties
You represent and warrant that:
• All information provided is true, accurate, and complete
• Funds are derived from lawful sources
• Transactions do not breach AML/CTF laws
• You have legal capacity and required approvals
• You are not a U.S. Person unless disclosed
• You are not bankrupt or subject to material proceedings
These representations are deemed repeated for every transaction.
10. Privacy and Data Protection
Personal data is collected and processed in accordance with the Personal Data Protection Act 2010 and KIAM’s Privacy Notice. Continued use of services constitutes acceptance of updates to the Privacy Notice.
KIAM may disclose information as required under FATCA or applicable regulations.
11. Investor Classification
Only Sophisticated Investors, as defined under the Securities Commission Malaysia Guidelines, may invest in Wholesale Funds. Others will be classified as Retail Investors.
12. Joint Accounts
Joint account holders are jointly and severally liable. The Primary Applicant has full authority unless otherwise mandated. Upon death, surviving account holders assume full ownership.
13. Fees, Charges, and Set-Off
You are responsible for all applicable fees, charges, expenses, taxes, and commissions. KIAM may deduct amounts owed from your account or liquidate investments where necessary.
14. Financial Crime and AML Obligations
KIAM may freeze, terminate, or report accounts where financial crime risks are identified, without notice.
You agree to fully cooperate with AMLATFPUAA obligations and indemnify KIAM against related losses.
15. Liability and Indemnity
Except for gross negligence or wilful default, KIAM shall not be liable for indirect or consequential losses.
You agree to indemnify KIAM against losses arising from breaches, instructions, or inaccurate information.
16. Governing Law
These Terms are governed by the laws of Malaysia and subject to the exclusive jurisdiction of Malaysian courts.
17. Vulnerable Persons
KIAM encourages disclosure of vulnerabilities to enable appropriate support. Additional assistance may be provided where required