Terms & Conditions

Governing the use of Finja Lending Services by Finja Lending Services Limited (FLSL).


Section A - General

2. By opting to avail this facility, you agree to establish a direct contractual relationship with Finja Lending Services Limited (“FLSL”) on behalf of Habib Bank Limited ("HBL") as a Customer and hereby agree to be bound by these Terms & Conditions of use and undertake to pay (by the due dates) any outstanding amounts and/or any other amounts disbursed to you along with all dues and other applicable payments such as Profit Rate /Mark-up and administrative charges in the percentage of the outstanding amount where applicable.
3. As a consequence of this arrangement, you hereby undertake to procure stocks from and liaise with the distributor for the purpose of delivery or otherwise, for which the requisite documentation for the purposes of wallet-onboarding and KYC have been provided e.g in the form of invoices referring to exact quantities and/or other relevant details.
4. FLSL or HBL has the right to offer, vary, suspend or withdraw different options, features, offers, benefits, schemes or arrangements under the facility without any intimation or notice to the Customer or any other parties.
5.The Customer understands and agrees that FLSL and/or HBL may disclose details relating to Customer for the purpose of evaluating the Customer’s credit worthiness. In this regard, the Customer hereby expressly consents and allows the FLSL to forward personal data and file credit information to licensed credit bureaus, insurance companies, mobile financial service providers/banks.
6. FLSL or HBL shall retain the exclusive right to determine the eligibility of an individual Customer for the Financing and shall retain the right at any time to remove a Customer and withdraw its benefits. FLSL or HBL shall not be required to provide any reasoning for excluding a Customer from the Financing or declining the provision of any Financing. In no event shall FLSL or HBL be liable to the Customer for excluding the Customer from the Financing, with or without notice to the Customer.
7. The participation of each Customer in the Financing is subject to the fulfillment of these Terms & Conditions, and any other terms, conditions or criteria that FLSL or HBL may introduce from time to time.

Section - B Contract Terms & Conditions

8. By applying for Financing from FLSL or HBL, the Customer hereby confirms that:
(a) The Customer is an individual or an entity using the FINJA App to avail credit;
(b) The Customer is not subject to any disciplinary proceedings or action by the state or any court of law within or outside Pakistan and is not subject to any investigation in relation to any law related to anti-money laundering, terrorism financing or financial fraud and the Customer is not appearing on any list of proscribed persons or entities within or outside Pakistan;
(c) The Customer is not in default under any agreement with any financial institution and is not included in the Electronic Credit Information Bureau (eCIB) of the State Bank of Pakistan and/or other Credit Bureaus operating in Pakistan;
(d) The Customer shall not terminate the contract/relationship with the Distributor / Supplier for the entire length of the requested Financing. The Customer may opt for one of the following payment plans in respect of the Financing and as per the given Profit Rate (Mark-up Rate).
a. 30 days - 4%
b. 15 days - 2.5%
c. 7 days - 2%
(e) The Customer shall not terminate the contract/relationship with the Distributor / Supplier for the entire length of the requested Financing. The Customer may opt for one of the following payment plans in respect of the Financing and as per the given Profit Rate (Mark-up Rate). guarantee, performance guarantee, deed of trust or other material instrument or agreement to which it is a party or by which its property is bound; and
(f) All information and undertakings furnished by the Customer are accurate and the Customer has not omitted or concealed any material facts, which would render such information incorrect, misleading or inaccurate. Notwithstanding the provision of information by the Customer, FLSL or HBL reserves the right to refuse the Financing.

Section C- Financing Terms

9.FLSL or HBL reserves the right to amend (at any time, with or without notice) the percentage or amount of minimum Financing available to the Customer.
10. By acceptance of these Terms & Conditions, the Customer hereby instructs, consents to and authorizes FLSL or HBL to provide certain information about the Customer to third parties for the purpose of processing the Financing request of the Customer ("Information Processing"). In addition to any other customer information, Information Processing may include sharing of all data held by NADRA and eCIB/Credit Bureau Report of the Customer, mobile phone number, full name, father's name, CNIC, occupation, employer name, monthly income and residential address. Information Processing shall not in any manner guarantee the disbursement of the Financing.
11.  The Customer shall be required to make repayment of the Financing within the prescribed tenor.
12. The Customer agrees and acknowledges that the Financing provided to the Customer shall be repaid either through IBFT; cash deposit in FLSL designated accounts as communicated from time to time or through cash at the time of in-person visit by collection/recovery executives or through appointed courier company/agent. In the event that the customer is unable to pay the due amount within the due date (for any reason), the Customer shall be charged administrative charges equivalent to 1% of the outstanding amount per week per collection visit ("Administrative Charges") 'It is charged against admin cost incurred by FLSL to recover the sale price'.
13.  In the event that FLSL is unable to deduct/receive (for any reason) the payment amount due by the Customer and the administrative charges from the Customer after the lapse of the Due Date, the Customer shall be declared as a payment defaulter or delinquent ("Payment Defaulter") upon fulfilling the requisite formalities under applicable laws.
14. In case of repayment through cash, the payments by the customer to FLSL will be against a written receipt duly signed by FLSL official representative to constitute a valid payment. Also it is the responsibility of the customer to keep a record of payment receipt(s), as it may be asked by the FLSL official to present as proof of payment.

Section - D Security

15. TThe Financing may be unsecured provided FLSL or HBL is guaranteed payment in any event and such guarantee shall continue to remain in force during the tenor of the Financing, which shall not be discharged or prejudiced by any partial payments or settlement of account or existence of a credit balance of the Customer at any time or by discharge of the Customer by operation of law or for any other reason.
16. FLSL or HBL shall at all times be permitted to use any and all possible courses of action in order to secure the payment of the Financing and other charges from a Payment Defaulter including but not limited to the following:
a. Permanently blacklisting, blocking or suspending the Payment Defaulter's FLSL Account;
b. Reporting the default to respective distributor & FMCG;
c. Reporting the default to the State Bank of Pakistan (eCIB) and other Credit Bureaus operating in Pakistan;
d. Reporting the default to other credit scoring/rating agencies/entities; and/or
e.Initiate appropriate legal proceedings against the Payment Defaulter under the Financial Institutions (Recovery of Finances) Ordinance 2001 or any other provision of law for the time being in force.
17. The Customer hereby expressly permits that any of the following actions be taken in the event that the Customer declared as a Payment Defaulter:
a. Visit to the residence of the Customer for recovery of Financing amount, Profit Rate (Mark-up Rate) amount and other administrative charges;
b. Visit to the shop, workplace, distributor or supplier of the Customer for recovery of outstanding Financing amount, Profit Rate (Mark-up Rate) amount and other administrative charges;
c. Appointing or hiring third-party collection agents and/or recovery teams for recovery of outstanding Financing amount, Profit Rate (Mark-up Rate) amount and other administrative charges; and/or
d. Contacting the Customer via SMS, telephone or postal letters for recovery of outstanding Financing amount, Profit Rate (Mark-up Rate) amount and other administrative charges.
e. In case of default by the customer to pay the Financing amount plus markup (Profit Rate) within the stipulated time, FLSL will have an un-objected right to take hold of the inventory/goods lying in the shop of the customer and to sell it in the open market to recover the Financing amount, Profit Rate (Mark-up Rate) amount and other administrative charges.

Section - E Indemnification

18. FLSL or HBL shall not at any time be held liable or responsible for any loss or damage incurred by the Customer in connection with the Financing. The Customer hereby agrees to indemnify and hold FLSL or HBL its affiliates, officers, employees, successors, assigns, attorneys and agents (each an "Indemnified Party") harmless from all losses, costs, claims, demands, expenses, damages, penalties and attorney's fees suffered or incurred by any Indemnified Party as a result of the Customer's misrepresentations, actions, omissions or negligence.

Section - F Additional Formalities

19. In addition to the requirements of these Terms & Conditions, FLSL or HBL may at any time, call upon the Customer to execute any other instruments digitally as required under applicable law in relation to the Financing, including but not limited to execution of any financing agreements, guarantees or provision of security cheques.
20. Customer awareness in one of the most focused aims of FLSL to avoid fraud, and inform customers about his/her rights and standard procedures. FLSL may use different channels not limited to SMS, Emails, InApp Notifications, voice calls, etc. to fulfill the purpose.

Section - G Termination

21. The contractual relationship of the Customer with FLSL or HBL shall come into force upon acceptance of these Terms & Conditions and shall remain in full force until such time that the Customer fully repays the Financing and such other dues as entitled to be received from the Customer.

Section - H Severability

22. In the event any one or more of the provisions of these Terms & Conditions are held to be void, unenforceable or illegal under the applicable law, the unenforceability or illegality shall not affect any other provision of this Agreement. Upon acceptance of the Terms & Conditions by the Customer, the Customer acknowledges that the Customer shall be bound by the provisions of the Electronic Transactions Ordinance 2002 or any other law for the time being in force.

Section I - Dispute Resolution

23. A certification by the authorized officer of FLSL or HBL regarding the sums owed by the Customer shall be conclusive and the Customer waives his/her right to challenge the same. If any dispute arises in relation to the Financing, the decision of FLSL or HBL authorized officer shall be final and binding on all parties to the dispute (the "Dispute").
24. For the purposes of this Agreement, a Dispute may include but shall not be limited to (a) any dispute over the sums owed by the Customer, (b) the Customer’s eligibility for participation in the Financing or (c) any other dispute involving the Customer.
25. These Terms & Conditions are governed under the laws of the Islamic Republic of Pakistan and the Customers hereby submit to the non-exclusive jurisdiction of the High Court of Sindh at Karachi.

Section J - Tax

26. Any income or other taxes and duties which are payable on the Financing shall be the Customer's sole responsibility and FLSL or HBL shall not be liable for any current or future tax implications on the Financing.

Section K - Variation

27. FLSL or HBL reserves the right to vary or amend these Terms & Conditions with or without notice. Any change to the Terms & Conditions shall be effective on the date of the revised Terms & Conditions are introduced by FLSL or HBL. FLSL or HBL shall not be liable to any Customer in the event that a Customer is affected by the revision to the Terms & Conditions.

Section - L Digital Fraud Liability

28. FINJA, as the digital lending platform, assumes responsibility for any instances of digital fraud resulting from security vulnerabilities, operational deficiencies, architectural flaws within the FINJA application, or any other malfunctions inherent to the Finja Platform. Digital fraud includes unauthorized access, fraudulent transactions, or breaches arising from deficiencies in the platform's security or operational integrity. Users shall not be held liable for losses incurred due to such digital fraud, and FINJA undertakes to indemnify and hold harmless the users against any loss.

Section M - Privacy Policy

29. FLSL gathers and processes personal data as required to furnish you with exceptional services. Your personal data encompasses particulars such as: Name, Address, Contact number, Email address, Profile image, and Geographical location. All accumulated data shall be meticulously stored within a highly secure database infrastructure. Our Privacy Policy will explain to you what data we collect, and how we use your personal data. It also describes how you can access, update, or otherwise take control of the personal data that we have collected from you.

Most of your personal data is collected from you when:

  • You sign up for our services
  • You request assistance from our customer support team
  • You complete surveys, subscribe to newsletters, or request other information from us
  • You participate in contests, apply for a job, or participate in activities where we may require information about you

FLSL App requires access to your phone's location and camera. This data is required to enable the users to seamlessly & easily conduct Lending transactions. The access to the camera is required to capture a selfie of the user and to capture the stock and invoice image at the time of sign up and transaction.

We believe in minimizing the data we collect. We will only use your data when we have been given permission to do so, when it is needed to deliver the Services that you have purchased, or for legal compliance or other lawful purposes.

By accepting the above Terms and Conditions, you (customer) are permitting Finja Lending Services Limited & Habib Bank Limited to conduct a thorough assessment of your (customer) primary KYC details, including but not limited to NADRA Verysis, Credit Bureau checks, Sanction Screening activities from prescribed lists set out by regulatory authorities. The required verification is mandated by the government and regulatory authorities in Pakistan as best practices and will remain confidential with Finja Lending Services Ltd.