Our commitment to you is respect for your right to privacy. Keeping your
information and affairs in strict confidence is an integral part of our commitment
to service excellence.
This policy will help you better understand how BSF protects, collects, uses and
discloses your personal information1 and your right to access your information.
This policy applies to all BSF's clients.
OUR PRIVACY PRINCIPLES
BSF respects the following principles when collecting, using, disclosing and
protecting your personal information.
1. Identifying Purposes and Obtaining Your Consent
We identify the purposes for collecting personal information at or before the time
it is collected. We obtain your consent before collecting, using or disclosing
personal information, except where required by law.
2. Limiting the Collection, Use and Disclosure of Your Information
The personal information we collect is limited to what is necessary for the
We do not use or disclose personal information for purposes other than those for
which it was collected, except with your consent, or where permitted or required
by law. We retain personal information only as long as necessary for these
purposes or required by law.
3. Keeping Your Information Accurate and Providing Access to Your Information
We take care in keeping personal information as accurate, complete and up-todate
as is necessary for the purposes for which it is to be used.
4. Protecting Your Information
We safeguard the privacy of personal information through adequate security
measures as appropriate to the sensitivity of the information.
5. Addressing Your Concerns
We are responsible for personal information under our control. We have created
departments to address your concerns.
IDENTIFYING PURPOSES AND OBTAINING YOUR CONSENT (PART 1)
We collect, use and disclose personal information about you throughout our
relationship so we can:
• Establish your identity.
• Protect you and us from error and fraud.
• Understand your needs and eligibility for products and services.
• Recommend particular products and services to meet your needs.
• Provide ongoing service.
• Comply with legal and regulatory requirements.
If we need your information for any other purpose, we will identify that purpose.
We obtain most of your personal information directly from you and through the
products and services you use. Some information may be obtained from other
sources. For example, we may verify some of the information you give us with
your employer or your references. Generally, when we obtain information from
someone other than you, such as a SIMAH, we record the source of that
We may review and analyze your applications, transactions and other personal
information. We may do this to offer solutions that help meet your needs, and to
develop new products and strategies to meet the needs of our clients. We may
also do this to help us identify various types of risks such as credit, fraud, and
We may monitor and record telephone calls between you and our
representatives to ensure accuracy, security, service quality and for training
We use video surveillance in and around our branches, bank machines and other
locations for the safety of our clients and employees, and to protect against theft,
vandalism, damage to property and fraud. Video recorded images are kept for a
period not less than what is required by regulation and for business or legal
purposes. Any personal information collected is protected as provided in this
When you apply for a product or service, we will require you to provide us the
information as required by regulations. Depending on the product or service, this
allows us to:
• Check your employment.
• Obtain a credit report and exchange information with a credit bureau.
• Offer you other products and services.
• Send you information about products and services by means of direct marketing.
• Share your information in confidence within the BSF group (provided it is legally permitted).
• Obtain your information from, or disclose your information to, others that we tell you about.
If you have a product or service where ownership or liability is shared with others
(for example, you have a joint account or you have a guarantor for your loan), we
may share your information with them in connection with the product or service.
Also, if you authorize us, we may provide your information to your lawyer,
accountant, or others you've identified.
We may obtain your explicit consent in writing or through electronic means.
Alternatively, your consent may be implied through an action you've taken or
when you continue to use a product or service after we've notified you of a
change. In some cases, we may be as required by law to obtain your explicit
consent, in which case we ensure that we do so.
Refusing or withdrawing your consent will generally not affect your eligibility for
BSF offers. However, if you refuse or withdraw your consent, we may not be able
to provide you with a particular product or service.
Sharing your information within the BSF group
We may share information about you within the BSF group for legal and
regulatory purposes, to manage credit risk and other business risks, and to
ensure we have correct and up to date information about you, such as your
current address, date of birth, etc.
We may also share your information to better manage your total relationship with
the BSF group and enable other members of the BSF group to bring suitable
products and services to your attention, such as mutual funds and brokerage
accounts. BSF will share your information within the BSF group for these
purposes unless prohibited by law or you tell us not to.
Exchanging information with SIMAH
When you apply for certain products and services, we disclose to you that we
may exchange information about you with SIMAH. In order to maintain the
integrity of the credit reporting system, we may periodically update your
information with SIMAH as long as you have the product or service with us and
for a period of time afterwards.
LIMITING THE COLLECTION, USE AND DISCLOSURE OF YOUR INFORMATION (PART 2)
While we collect various types of personal information from you and other
sources, we limit the information to what is necessary for the purposes we've
identified. The information we ask for depends on the product or service
We do not use or disclose personal information for purposes other than those for
which it was collected, except with your consent, or as described below. We may
use your information to contact you through phone, email or direct mail to inform
you about products and services BSF may be offering to meet your needs.
However, you may ask us not to contact you but informing us in writing.
There are exceptions where we may collect, use or disclose information without
• If we use an outside supplier to do work for us. However, we are required to comply with SAMA’s Outsourcing Rules for these activities.
• If we are permitted or required by law.
• If we have to protect the interests of BSF.
We retain your information
We have record retention requirements that meet customer service, legal and
regulatory needs. For these reasons, we may keep your information beyond the
end of your relationship with us.
KEEPING YOUR INFORMATION ACCURATE AND PROVIDING ACCESS TO YOUR INFORMATION (PART 3)
We take care to keep the information in our records as accurate, complete and
up to date as necessary for the purposes for which it is used. However, we also
rely on you to tell us when your personal information changes.
It is important to ensure your personal information at BSF is accurate and
complete. This allows us to continue to offer the highest quality service and to
suggest products and services that best meet your needs.
If you require information, please request this by contacting the branch you deal
with. We will ask that you put your request in writing and that you provide us with
details to help us understand your request and conduct our search for your
information. We will need you to confirm your identity before searching for or
providing you with access to your information. We will let you know in advance if
there is a charge.
It may not be appropriate for us to release certain types of information to you.
Our records may contain information about other clients, information that is
confidential or proprietary to BSF or information that is subject to legal privilege.
Because we must protect everyone's confidentiality and legal rights, we cannot
make this information available to you.
If you tell us that we have information about you that is obsolete or incorrect, we
will update our records with the proper information.
PROTECTING YOUR INFORMATION (PART 4)
We limit access to your personal information and store it securely. In addition to
the physical and electronic security devices we use to protect your information,
we have security standards to protect our computer systems and your
information from unauthorized use or access.
Our systems also protect your information when it is electronically transmitted, for
example, between our data processing centers, a branch or banking machines.
We regularly review our information security procedures and ensure that they
remain effective and appropriate.
Employees who have access to your information are made aware of how to keep
it confidential. Also, Code of Conduct that is signed by all employees requires the
employees to treat the information with confidentiality and privacy.
We use contracts and other measures with our vendors and other service
providers to maintain the confidentiality and security of your personal information
and to prevent it from being used for any unauthorized purpose.
Access to your personal information is only given to those who require it to
provide our products or services, or where permitted or required by law.
There are some simple yet very important steps you can take to protect your
Notify us immediately if:
• Your BSF debit or credit card is lost, stolen or retained by a bank machine.
• You believe someone has obtained your card number, PIN, password etc.
• You believe your personal or financial information has been compromised.
• You believe you have been the victim of identity theft, or that someone is using your personal information fraudulently.
Protect your PIN and Passwords
Your Personal Identification Number (PIN) and passwords are the keys to your
accounts. You are the only person who should know them.
Never disclose your current PIN or passwords to anyone, or you could be liable
for losses. No BSF employee will ever ask you verbally or through e-mail for this
information. However, when using telephone banking, we may ask for some
information to verify your identity. When you conduct transactions at a bank
machine or at a point-of-sale, use your hand or body to shield the keypad from
Regularly monitor your account activities
Promptly check your statements to verify all transactions have been properly
recorded. If entries do not accurately reflect your transaction activities (e.g. if
there are missing or additional transactions), contact BSF immediately.
Ensure your contact information is up-to-date
Making sure that BSF has your most up-to-date contact information will help
protect your personal information from being misdirected.
Protect your privacy online
To protect your privacy online, you should clear your browser's cache after each
session, use a firewall, and use up to date software to protect your computer
from viruses and spyware. On our end, to protect you we monitor and track IP
address and other information when you use our e-banking services.
If you receive a suspicious phone call, e-mail or letter, contact us.
If you think someone is impersonating BSF, or believe you have been the victim
of a fraud or attempted fraud through telephone, mail or e-mail, call BSF Fraud
Investigation Department 011-289-11877 immediately.
ADDRESSING YOUR CONCERNS (PART 5)
We regularly monitor our procedures and security measures to ensure that they
remain effective. BSF is committed to treating you with the greatest respect and
consideration and providing the highest level of service. Even so, there may be a
misunderstanding or times where you may feel you have been dealt with unjustly.
Whatever the circumstances, our primary objective is ensuring your concerns are
addressed. If you have any question or complaint talk to your branch officers or
call FransiCare at 011-289-1867.
1 When we refer to "personal information" or "information" it means information about an identifiable
individual. This includes details such as your age, marital status, education, employment history,
identification numbers, financial information and credit records. Personal information does not include most
of the information that appears on a business card.