Privacy Policy

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Effective Date: 10/10/2025
Last Updated: 04/11/2025

1. Introduction

Welcome to Octalas Bank (“we”, “our”, or “us”).
Your privacy is important to us. This Privacy Policy explains how we collect, use, disclose, and protect your personal information when you visit our website or use our banking and financial services.

We are committed to protecting your personal data in accordance with the EU General Data Protection Regulation (GDPR), the UK Data Protection Act 2018, and the DIFC Data Protection Law (Law No. 5 of 2020), where applicable.

By accessing or using our website or digital services, you agree to this Privacy Policy.

2. Information We Collect

We may collect the following types of information:

a. Personal Information

When you interact with our website or services, we may collect:

  • Full name, date of birth, nationality, and contact details
  • Identification information (e.g., Emirates ID, passport, or national ID)
  • Financial details, bank account numbers, and transaction history
  • Employment and income details (for certain banking services)
  • Login credentials for online banking services

b. Automatically Collected Data

When you visit our website, we may automatically collect:

  • IP address, browser type, operating system, and device information
  • Website usage statistics and analytics data
  • Cookies and similar tracking technologies (see Section 8)

c. Information from Third Parties

We may receive data from:

  • Credit reference agencies and fraud prevention databases
  • Financial partners and service providers
  • Publicly available sources and government authorities

3. How We Use Your Information

We use your personal information to:

  • Provide, manage, and improve our banking services
  • Process transactions, account applications, and identity verification
  • Communicate with you regarding your account, updates, and promotions
  • Comply with legal obligations (e.g., anti–money laundering and KYC checks)
  • Ensure the security and integrity of our systems
  • Analyze website performance and improve user experience

We process your data only when we have a lawful basis, such as:

  • Your consent
  • Contractual necessity
  • Compliance with legal obligations
  • Legitimate interests (e.g., improving services or preventing fraud)

4. How We Share Your Information

We may share personal data with:

  • Regulatory authorities and law enforcement agencies
  • Banking and payment network partners
  • Credit and fraud prevention agencies
  • Professional advisors (e.g., auditors, lawyers, IT consultants)
  • Third-party service providers assisting in hosting, analytics, or communications

We do not sell your personal data to any third parties.

5. International Data Transfers

As a multinational institution, your personal information may be transferred to and processed in countries outside your own jurisdiction.
We ensure such transfers comply with GDPR and DIFC standards, using appropriate safeguards such as Standard Contractual Clauses and adequacy decisions.

6. Data Retention

We retain your personal data only as long as necessary to:

  • Fulfil the purposes described in this policy,
  • Comply with applicable laws and regulations, and
  • Resolve disputes or enforce agreements.

When data is no longer needed, we securely delete or anonymize it.

7. Your Rights

Depending on your location, you may have the right to:

  • Access a copy of your personal data
  • Request correction or deletion of your information
  • Withdraw consent at any time (where processing is based on consent)
  • Object to or restrict data processing in certain cases
  • Request data portability to another provider
  • File a complaint with your local data protection authority

To exercise these rights, please contact us at info@octalas.com.

8. Cookies and Tracking Technologies

We use cookies and similar technologies to:

  • Improve website functionality and security
  • Analyze website traffic and performance
  • Personalize content and user experience

You can control cookie settings through your browser preferences or reject non-essential cookies at any time.

9. Security of Your Information

We implement strict technical and organizational measures to protect your personal data from unauthorized access, misuse, alteration, or loss.
These include encryption, secure servers, access controls, and continuous monitoring.

However, no online system can be guaranteed 100% secure, and you are responsible for safeguarding your account credentials.

10. Links to Third-Party Websites

Our website may contain links to third-party websites or services.
We are not responsible for the privacy practices or content of those sites.
We encourage you to review their privacy policies before providing any personal data.

11. Updates to This Privacy Policy

We may update this Privacy Policy from time to time.
Any significant changes will be posted on this page with an updated “Last Updated” date.
We encourage you to review it periodically to stay informed of how we protect your information.

12. Contact Us

If you have any questions, concerns, or requests regarding this Privacy Policy, please contact us at:

Octalas Bank
Email: info@octalas.com
Website: www.octalasbank.com