TERMS AND CONDITIONS

Edition effective 18th May 2022

1. PREAMBLE

JIBUTI Finance is a Microfinance registered under the Laws of Mainland Tanzania, Business name registration number 505054, under AMIEKO Company Limited, name registration number 154274359, whose registered address is: Mikocheni B House Number 18, Dar es Salaam, Tanzania.

JIBUTI Finance is authorised and regulated by the Bank of Tanzania (hereinafter referred to as BOT) under the Microfinance Act, Act No. 407 of 2019, License Number 87879B.

This Agreement is governed by and shall be construed in accordance with the laws in Tanzania.

The JIBUSTI Application is an online platform used to acquire small loans. The Customer would have already signed up at our offices and received a login to the application before having the permission to request a loan.

2. How JIBUSTI Finance operates:

  • The Customer may at anytime request a loan through the Jibusti Application.
  • By applying for the loan, the Customer confirms to have read, understood, accepted and is ready to be bound by the Terms.
  • The loan amount is system generated depending on the salary information provided by the Customer. The loan amount is up to 40% of their salary to a maximum amount of Tanzanian Shillings One Million (Tshs. 1,000,000/=) only. Jibusti Finance reserves the absolute right to change the Minimum amount and the Maximum amount from time to time with prior notice to the Customer.
  • The loan amount shall be credited into the account specified by the customer.
  • The loan shall be for the term specified by the customer; 30 days, 60 days, 90 days, 365 days.
  • All repayments by the Customer are with respect to the contract signed by their employer. The Customer understands that application of loan from the Jibusti Finance application is subject to salary deduction after the specified amount of time.
  • All interest rates, fees and transfer chargers are to be borne by the customer.
  • Jibusti Finance reserves the absolute right of changing/review the interest rate and charges at any time provided that the Customer is notified.
  • Any disputes arising from or in connection with this Agreement shall be finally resolved by the court of competent jurisdiction in the United Republic of Tanzania.

Your Responsibilities

  • You are responsible for keeping your login passwords safe. You will be responsible for all loan applications done through your particular account.
  • You are responsible for making sure the information you provide is accurate and truthful.
  • This agreement establishes the Terms and Conditions for the contractual relationship between JIBUSTI Finance and you the Customer. The Terms shall apply to loans via the JIBUSTI application, and all other connected devices. You are required to accept these Terms and Conditions when interacting with the services offered.
  • Notwithstanding same, it is the responsibility of the customer to check for amendments and it shall be assumed that by Log in, all Customers have read, understood, and agree to the Terms and Conditions.