Privacy Policy
Your privacy and data protection are our top priorities at Mohrad Finance.
Last Updated: December 16, 2024
1. Introduction
Mohrad Finance ("we," "our," or "us") is committed to protecting your privacy and ensuring the security of your personal information. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our services, visit our website, or interact with us through our member portal.
By using our services, you consent to the data practices described in this policy.
2. Information We Collect
2.1 Personal Information
We may collect the following personal information:
- Full name and contact information (phone number, email address, residential address)
- Date of birth and government-issued identification numbers
- Bank account details and financial information
- Employment information and income details
- Referral information and relationship details
- Transaction history and account activity
2.2 Technical Information
- IP address and device information
- Browser type and version
- Usage data and website analytics
- Cookies and similar tracking technologies
3. How We Use Your Information
We use your information for the following purposes:
- Processing membership applications and account management
- Facilitating savings deposits and loan disbursements
- Calculating and distributing annual dividends
- Verifying identity and preventing fraud
- Communicating with you about your account and our services
- Complying with legal and regulatory requirements
- Improving our services and customer experience
- Marketing our services (with your consent)
4. Information Sharing and Disclosure
We do not sell, trade, or rent your personal information to third parties. We may share your information only in the following circumstances:
- With your explicit consent
- To comply with legal obligations or court orders
- With regulatory authorities as required by law
- With trusted service providers who assist in our operations (under strict confidentiality agreements)
- In case of business transfer or merger (with prior notice to affected members)
- To protect our rights, property, or safety, or that of our members
5. Data Security
We implement appropriate technical and organizational security measures to protect your personal information against unauthorized access, alteration, disclosure, or destruction. These measures include:
- Encryption of sensitive data in transit and at rest
- Regular security assessments and updates
- Access controls and authentication procedures
- Employee training on data protection
- Secure data storage and backup systems
6. Data Retention
We retain your personal information for as long as necessary to fulfill the purposes outlined in this policy, comply with legal obligations, resolve disputes, and enforce our agreements. Financial records may be retained for up to 7 years after account closure as required by Nigerian financial regulations.
7. Your Rights
You have the right to:
- Access your personal information we hold
- Request correction of inaccurate or incomplete information
- Request deletion of your information (subject to legal requirements)
- Object to processing of your information for marketing purposes
- Request data portability where technically feasible
- Withdraw consent for data processing (where applicable)
8. Cookies and Tracking
Our website uses cookies and similar technologies to enhance your browsing experience, analyze website traffic, and personalize content. You can control cookie settings through your browser preferences, though disabling cookies may affect website functionality.
9. Third-Party Links
Our website may contain links to third-party websites. We are not responsible for the privacy practices of these external sites. We encourage you to review their privacy policies before providing any personal information.
10. Changes to This Policy
We may update this Privacy Policy from time to time. We will notify you of any material changes by posting the new policy on our website and updating the "Last Updated" date. Your continued use of our services after such changes constitutes acceptance of the updated policy.
11. Contact Information
If you have any questions about this Privacy Policy or our data practices, please contact us: