1. Definitions and Interpretation

1.1 In these Terms and Conditions (the “Terms and Conditions Governing The Use of I&M Next Generation Banking Facility”), including any Schedule, unless the context otherwise requires:

(a) “Access Profile” means the information and or documentation held by the Bank in respect of the Customer and/or the Nominated User for purposes of the Customer’s and/or Nominated User’s access to the System and/or use of the service;

(b) “Application Form” means the Form to be completed for Subscription;

(c) “Associate” means the same as the definition of “associate” under the relevant provisions of the Banking Act, Chapter 488 of the Laws of Rwanda;

(d) “Bank” means I&M Bank Ltd;

(e) “Banking Day” means a day on which the counters of the Branch and/or the Subsidiary (as applicable) are open for the transaction of ordinary business;

(f) “Branch” means (including the main registered office of the Bank) all places either in or outside the Republic of Rwanda where the Bank’s business is operated and conducted;

(g) “Bank Account” means an account held by the Customer with the Bank (including without limitation) any account in relation to any advance, deposit, contract, product, dealing or service established and operated between the Bank and the Customer;

(h) “Card” means the Credit Card, Debit Card and/or Prepaid Card issued by the Bank to the Customer and/or to the Nominated User;

(i) “Customer” means a holder of a Bank Account whose Subscription has been approved by the Bank;

(j) “Deposit Account” means a Bank Account with an amount therein which can be drawn by the Customer without any restriction by the Bank;

(k) “Email” means Electronic Mail;

(l) “Electronic Banking Services” means the Bank’s Next Generation Banking Facility;

(m) “General Terms and Conditions” means the I&M Bank Limited General Terms and Conditions in respect of the Bank Account;

(n) “I&M Infomail Service” means (including without limitation) the service extended by the Bank to a Customer whereby the Bank transmits to the Customer an appropriate email message containing information on balances and transactions in the Bank Account;

(o) “I&M Mobile Banking Service” means (including without limitation) the service extended by the Bank to a Customer whereby upon request by a Customer and/or Nominated User to the Bank through a Phone :

(i) the Bank transmits to the Phone information on the balance and/or transactions in the Bank Account;

(ii) effects a transfer of an amount from a Deposit Account to another Bank Account, Card or Phone Account, including through I&M Pesa Link Service;

(iii) the Customer and/or Nominated User purchases Airtime using funds held in a Deposit Account;

(iv) the Customer and/or Nominated User pays Bills from selected service providers (as may be notified by the Bank to the Customer from time to time) using funds held in a Deposit Account;

(v) the Customer and/or Nominated User pays a merchant for Goods or Services received using funds held in a Deposit Account;

(vi) the Bank acts upon Request including but not limited to Requests to stop a Cheque, issue a Cheque Book, change the Mobile Banking PIN and/or update the contact information held by the Bank in respect of a Customer and/or Nominated User;

(vii) the Bank transmits to the Phone an appropriate SMS containing information regarding the Bank Account, including but not limited to information regarding the status of any Banking facilities extended by the Bank to a Customer and/or Nominated User, the Bank’s foreign exchange rates, the Bank’s interest rates, etc;

(viii) the Bank transmits to the Phone an appropriate SMS containing information on transactions effected using the Card and/or transactions effected through the Bank Account; and

(ix) any other service that the Bank offers in future as part of I&M Mobile Banking Service;

(p) “Ï&M Agency Banking Service” incorporating all the services offered through a phone or Point of Sale Machine at an authorised Agent of the Bank including the services described in clause 1.1 (o) and any other service that the bank offers through its Agents;

(q) “I&M Pesa Link Service” incorporating payments from the Bank Account to other Bank accounts, phones or cards through the Rwanda Inter-Bank Transaction Switch ( KITS) offered through I&M Mobile Banking Service, I&M Agency Banking Service, the Bank branches, Bank Automated Teller Machines or any other channel;

(r) Mobile Banking PIN means the secret Personal Identification Number that is known only to the Customer and/or the Customer’s Nominated User and which number is the unique link to Access the System and/or make transactions thereon. This could be assigned for use on a recurrent basis or for one time use (OTP);

(s) “Next Generation Banking Facility” means I&M Infomail Service, I&M Mobile Banking Service, I&M Agency Banking Service, I&M Pesa Link Service and such other services as may be notified by the Bank to the Customer from time to time;

(t) “Nominated User/s” means any representative(s) of the Customer authorized by the Customer to operate Customer’s Bank Account and/or Deposit Account and access the System and Service on behalf of the Customer including to hold and change the I&M Mobile Banking PIN;

(u) “Phone” means a Customer’s and/or the Nominated User’s cellular/mobile telephone line which has been duly registered with the Bank as part of the Customer’s and/or Nominated User’s Access profile;

(v) “Phone Account” means Customers and/or Nominated User’s cellular/mobile banking account held through their phone;

(w) “Request” means a request or instruction received by the Bank from (or purportedly from) the Customer and/or the Nominated User through the System in respect of the Service and upon which the Bank is, by virtue of subparagraph 4.1, authorized to act;

(x) “Service” means such of the Bank’s Next Generation Banking Facilities as the Customer may from time to time apply for and the Bank approve and/or agree to provide;

(y) “Subscription” means application for the Service by a Customer;

(z) “Subsidiary” means such subsidiary or subsidiaries of the Bank which may from time to time be specified by the Bank to the Customer; and

(aa) “System” means the electronic multi-media banking and communications software and/or equipment enabling the Customer to communicate with the Bank for the purposes of the Service. This System may belong to the Bank or to its authorised third party service provider.

1.2 In these Terms and Conditions Governing the Use of I&M Next Generation Banking Facility:

(a) the expression the “Customer” and/or “person” and or “party” shall include any natural person, firm, partnership, incorporate or corporate body, state, state agency, governmental authority in whatever name of style and when there are two or more included in the expression the “Customer” and/or “person” and/or “party” such expression shall include either one severally and/or both or all of them jointly;

(b) references to words denoting the singular number shall include the plural and vice versa and reference to the masculine gender includes a reference to the feminine gender and neuter and vice versa; and

(c) any obligation imposed by or resulting from these Terms and Conditions Governing the Use of I&M Next Generation Banking Facility which is undertaken by more than one person shall be a joint and several obligation of each of the persons who has undertaken it whether as principal, guarantor, indemnifier, surety or otherwise.