Welcome to Siolla, which includes all its subdomains, content, and trademarks ("Application and Website"). Please read the following terms and conditions ("Terms") carefully before using the Application, Website, or any of the provided services ("Services").
By using the Application, Website, and/or Services, you acknowledge and fully agree to comply with these Terms. If you do not agree to any of them, you are prohibited from using the Application, Website, or benefiting from the Services.
References herein to "Services" are understood to include the Application, Website, and all related services provided by Siolla.
Siolla and/or its affiliated companies is Digital Siolla For Financial Technology, operating under commercial registration number (5900118362) with its headquarters in the Kingdom of Saudi Arabia, Riyadh.
We are officially licensed to provide automated advisory services under the supervision of the Financial Technology Lab of the Capital Market Authority.
Siolla's headquarters is located at: Abu Bakr Al-Siddiq Road, 6748, Al-Narjis District, 13323, Riyadh, Kingdom of Saudi Arabia.
Siolla reserves its absolute right to update these Terms at any time without prior notice, and the modified version will be published on the Application and Website.
Your continued use of the Services after the publication of any update constitutes your agreement to those changes. We advise the user to review these Terms periodically.
Siolla will open the investment account (portfolio) for the client upon completion of all required information and data. Siolla relies on the data provided by the client for identity verification purposes. Siolla reserves the right to conduct additional identity verification procedures when necessary to ensure account security.
Siolla prepares a special investment plan for each client. The plan includes defining investment objectives and providing non-discretionary investment advice. All transactions issued by the client are considered instructions directed to Siolla for execution.
Implementation of the plan requires the client's explicit approval of the advice and the proposed investment plan.
Siolla, its affiliated companies, owners, board members, and employees disclaim responsibility for any loss or damage that the client may incur as a result of relying on the information provided within the framework of the investment plan services.
The client declares that the funds used in transactions are not of suspicious origin; they are not derived from criminal activities, associated with terrorist groups, or related to money laundering operations.
Siolla reserves the full right to immediately suspend or stop those transactions if suspicions arise about the legal origin of the funds.
Siolla is committed to informing the relevant anti-money laundering authorities upon discovering any case suspected of involvement.
The Terms of Use, Privacy Policies, and Conflict of Interest Policies are considered an integral part of this agreement.
This agreement has been prepared in both Arabic and English languages. In case of any difference, the Arabic text shall be considered as the reference and decisive.
This agreement is subject to the laws and regulations in force in the Kingdom of Saudi Arabia.
Siolla dedicates the Services to users in the Kingdom of Saudi Arabia only.
Deposits: Funds are sent to the designated account or through a direct debit card or credit card registered in the user’s name only.
The user must send payment instructions exclusively through Siolla's website.
The user must provide correct and complete data regarding the beneficiary. Siolla does not bear any loss resulting from entering incorrect information.
The user must notify Siolla as soon as possible about any withdrawal operation carried out without explicit authorization. Siolla does not bear any responsibility for financial transactions that take place in this way.
Siolla reserves the right to reject any financial information. Siolla may also charge fees to cover the costs related to correcting errors.
The client is obligated and authorizes Siolla to accept the entitlement of amounts due (obligations, commissions, fees, costs, and expenses) when closing the investment account.
If the investor closes the portfolio and then re-transfers funds, the "deleted" or "closed" account is reopened, and investment operations will continue as previously agreed.
Siolla will collect fees, commissions, and charges for the services it provides.
Siolla is committed to notifying you of any change in the value of fees.
Value Added Tax is excluded from the fees and must be paid separately. The mentioned fees do not include any fees or costs imposed by third parties.
Siolla has the right to receive all fees and amounts due until the date of termination. Siolla may deduct them directly from the client's portfolio assets if payment in cash is not possible.
No investment operations will be executed except on days and times when Siolla and the financial markets are officially open.
Siolla will do its utmost to conduct investment operations according to best practices. Siolla does not bear responsibility for any loss or expenses incurred by the client due to delay, unless the delay is the result of negligence or intentional behavior on the part of Siolla.
Siolla will conduct foreign currency exchange transactions according to the prevailing exchange rates. All investments are managed in US dollars according to Siolla's policies.
Any notification sent to the client is sent via the registered email or text messages. This notification is considered to have been received by the client once it is sent.
The client agrees that Siolla will communicate using electronic means (email, SMS). All electronically sent documents are considered official written documents.
Authentication of Electronic Documents: Electronic documents are considered to fulfill the legal conditions as documents signed by the client, provided they contain registered credentials (username and password).
The client must update Siolla immediately in the event of any change to their contact information.
Siolla will communicate with the client to arrange account settlement and liquidation. Siolla will seek to complete the settlement process within a reasonable time period.
The execution of Siolla's obligations may be delayed or hindered as a result of circumstances beyond Siolla's control such as epidemics, natural disasters, or sudden economic events.
Siolla has the right to suspend all investment account transactions upon the occurrence of any force majeure cases.
The client acknowledges that Siolla does not bear any responsibility for any direct or indirect losses resulting from the use of the investment account in case of misuse or a defect in compliance with the Capital Market Authority's policies.
The client is committed to protecting his login data, including passwords, and not sharing them with any third party.
Siolla has the right to refuse any instructions or requests if they do not comply with its policies, without bearing any legal responsibility.
Siolla reserves the right to temporarily suspend the execution of any instructions if circumstances require (e.g., technical failures or maintenance).
Siolla has the right to modify the terms by sending a written or electronic notice. The amendments become effective after a grace period of (10) days.