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Gold Rate as on 19 Jun 2024        KL : RM 346/gm        Penang : RM 346/gm        Johor : RM 346/gm

Terms And Conditions

A. Terms of Online Service ("Terms")

Please read these Terms of Online Service ("Terms", "Terms of Online Service") carefully before using the website and/or the SMS DEEN GOLD Trading & Saving mobile application (the "Service")  operated by SMS Deen Jewellers Sdn Bhd ("SMS DEEN").

Your access to and use of the Online Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service.

By accessing or using the Online Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access our Online Service.

B. Details of Terms & Conditions Agreement



    1.1.     In this Agreement, unless otherwise expressly stated or if the context requires otherwise, the following terms shall have the meanings set out below:


    (a)                “Agreement” means these terms and conditions, any account-opening documentation (including an electronic registration form you complete when applying for SMS DEEN GOLD SCHEMES), and any other documents, terms and conditions, or policies which are expressly stated by SMS DEEN to form part of the agreement between us and you;


    (b)                SMS DEEN Gold Schemes Account” means the electronic record of:


                                                   i.          gold that you own, identified by quantity and purity of the gold, and delivered to us for storage in the Vault;

                                                  ii.          payments to and from us in relation to the purchases, sales and withdrawals of gold and any other transactions between you and us under this Agreement;

                                                iii.          the fees levied by us for services provided to you.


    (c)                “Customer”, “you” or “your” means a person who has registered and has been accepted by us for a SMS DEEN Account on the SMS DEEN Website or SMS DEEN Mobile App including satisfactorily completing the applicable verification requirements in accordance with this Agreement;


    (d)                “Force Majeure” means any circumstance, act, or event beyond our reasonable control, including (but not limited to) any:


                                                i.                lock outs, strikes or other industrial disputes (in each case, whether or not relating to our workforce and whether or not beyond our reasonable control);

                                               ii.                changes to applicable laws, acts, or regulations of any governmental or supranational bodies or authorities;

                                              iii.                breakdown, failure, malfunction, or hacking of telecommunications or computer services or systems (including the internet) including, without limitation, any third party services or systems or acts of hackers;

                                             iv.                unusual volatility in the market, hacking, Denial of Service (DoS) attack, deliberate market distortion or manipulation, and disruptions to trading or the trading price;

                                              v.                act of God, fire, act of government or state, terrorist act, war, civil commotion, insurrection or embargo, earthquake, nuclear incident, floods, volcanic action;

                                             vi.                inability to communicate with brokers or market makers for whatever reason or late or mistaken delivery or payment by any bank or counterparty;

                                            vii.                prevention from or hindrance in obtaining any energy or other supplies; and

                                          viii.                any other reason (whether or not similar in kind to any circumstance, act or event described in (a) to (g) above).


    (e)                “SMS DEEN”, “we”, “us”, or “our” means SMS Deen Jewellers Sdn Bhd, a company incorporated in Malaysia with its registered address at No 52, Jalan Masjid India, 50100 Kuala Lumpur, Wilayah Persekutuan.


    (f)                 “SMS DEEN Platform” means the SMS DEEN private and public website accessible at amended from time to time (the “Website”), the SMS DEEN Application Programming Interface (“API”), and any associated SMS DEEN-hosted websites or mobile applications (“Mobile App”) (collectively the “SMS DEEN Platform”);


    (g)                “SMS DEEN Services” means any and all of the services provided to you through the SMS DEEN Platform and includes the use of the SMS DEEN Platform;


    (h)                payment” in the context of any remittance or transfer of funds by SMS DEEN to you as adopted and/or applied in this Agreement, shall be construed as payment made solely and exclusively by SMS DEEN to you, and not to be intended for or transferred to any third party, directly or indirectly, without explicit and express authorisation, consent or approval from SMS DEEN;


    (i)                  “Password” means the string of characters in length that you may use to access your SMS DEEN Account;


    (j)                  “Privacy Policy” means the privacy policy of SMS DEEN that is available on the SMS DEEN Website (as amended from time to time);


    (k)                “Vault” means the location where gold is physically stored pursuant to an agreement entered into by SMS DEEN;




    2.1.     This Agreement takes effect immediately upon your use and access of the SMS DEEN Platform including but not limited to your access to The relationship between SMS DEEN and the Customer arising from or in connection with the Customer’s SMS DEEN Account shall be defined and governed by this Agreement.


    2.2.     This Agreement applies to your SMS DEEN Account and your use of:


    (a)                the SMS DEEN Platform; and


    (b)                any of the services provided to you by SMS DEEN through the SMS DEEN Platform (the “SMS DEEN Services”).




    2.3.     By  your access to and use of the website, app and any service we provide to you in connection to the SMS DEEN Platform through the SMS DEEN Website or SMS DEEN Mobile App, you agree:


    (a)                that this Agreement will document the contractual relationship between you and us;


    (b)                to be bound by the provisions of this Agreement;


    (c)                to comply with all relevant laws of any territory of which you are a citizen, national, or subject, and of any territory in which you are resident from time to time, and of any other territory from which you access the SMS DEEN Platform, and including, without limitation, the laws of Malaysia;


    (d)                to authorize and allow SMS DEEN to disclose your personal information and documents to parties providing loan, credit and/or any other financial services to you;


    (e)                that we may change all or part of terms of the Agreement herein at any time without prior notice to you. If we do, the new Terms will be posted on our SMS DEEN Platform or made available through SMS DEEN Services. Your subsequent or continued use of SMS DEEN Services will constitute your acceptance of any changes thereof. If you object to any changes to the Term, you shall immediately stop using the SMS DEEN Services and/or your access to the SMS DEEN Platform.




    2.4.     You understand, acknowledge and agree that:


    (a)                the gold recorded in your SMS DEEN Account is held by SMS DEEN as bailee and is stored in our vault;


    (b)                you may only withdraw funds to your personal bank account. However, your funds withdrawal is subject to a daily withdrawal limit, to which SMS DEEN may update time to time;


    (c)                any money credited to your SMS DEEN Account is not a deposit with or loan to us and your SMS DEEN Account is not a bank account under the Financial Services Act 2013 (as amended);


    (d)                any money or gold balance incorrectly credited to any of your SMS DEEN accounts shall be subject to a clawback or recoupment policy currently in effect or as may be adopted by SMS DEEN. Such a decision is at the sole discretion of SMS DEEN.


    (e)                any money standing to the credit of your SMS DEEN Account represents payment for gold that you intend to purchase under this Agreement, which is subject to SMS DEEN acceptance and approval, and SMS DEEN is authorized without any further action required from you and without prior notice to you to convert such money to gold, at a price and subject to fees determined under clauses 6 and 7, at any time, OR to reject and refund this Agreement, and SMS DEEN is authorised without any further action required from you and without prior notice to you to refund to you the whole sum of payment without any contractual binding in place.


    (f)                 any money unutilized under clause 2.4 constitutes a non-interest bearing security deposit that is held by us as security against any breach of your obligations under this Agreement and may be applied by us towards the performance of any obligation you owe to us under this Agreement;


    (g)                there is no interest payable to you on any amount in your SMS DEEN Account;


    (h)                the gold in your SMS DEEN Account is insured under insurance policies arranged by SMS DEEN and are not insured by the Perbadanan Insurans Deposit Malaysia.


    (i)                  you are only allowed one SMS DEEN account per mobile phone number per email and it is your responsibility to retain control of your mobile number and/or email. If you change your phone number or email, then it is your duty and obligation to inform us of your new mobile phone number or email. SMS DEEN reserves the right to close the account(s) where there is duplication of transactions on different phone numbers or emails. SMS DEEN reserves the right to close accounts which are dormant and/or lock accounts whenever necessary.


    (j)                  the SMS DEEN account can be operated on most Android devices and iOS devices subject to any restrictions or settings applicable to the devices.


    (k)                except as required by law, no person shall be recognized by SMS DEEN as holding any gold under this Agreement upon any trust, whether, express, implied or constructive, and SMS DEEN shall not be bound by or be compelled in any way to recognize (even when having notice thereof) any equitable, contingent, future, or partial interest in your SMS DEEN Account except an absolute right to the entirety of the SMS DEEN Account.


    2.5.     You acknowledge that the SMS DEEN Platform and the SMS DEEN Services do not constitute a “capital market service” under the Capital Markets and Services Act 2007 (as amended), trading of, or an exchange in, securities, investment contracts or any document, instrument or writing commonly known as a “security” or “derivative”, at law or otherwise.


    2.6.     You understand that you may only sell gold through your SMS DEEN Account by way of:


    (a)                transfers to, a personal bank account, in your own name which you have linked to your SMS DEEN Account; or

    (b)                physical withdrawals of gold as described in clause 8;





    3.1.     Communications between you and SMS DEEN may be conducted by written email, online platform, or by other electronic means that we offer from time to time. Any instructions that you give to us in any such manner will have the same legal effect as if you gave them to us in traditional written form. You agree that all telephone calls and electronic communications may be recorded and kept by us as a record of your instructions.


    3.2.     You are responsible for the accuracy of your instructions for all transactions in your SMS DEEN Account and through the SMS DEEN Platform. Instructions once sent, in any form acceptable under the SMS DEEN Platform in relation to your SMS DEEN Account, are final and irrevocable. It is your responsibility to ensure that your personal information registered on the SMS DEEN Platform is accurate at all times.


    3.3.     You agree to promptly review the transaction history pertaining to your SMS DEEN Account that you receive to ensure that your instructions have been carried out and that there have been no unauthorized dealings in your SMS DEEN Account. You must inform us of any errors or omissions by written email, online platform, or by other electronic means that we offer from time to time, within seven (7) calendar days of the disputed transaction(s) and the final decision for the disputed transaction(s) shall be under the reserved rights of SMS DEEN.





    4.1.     You agree to provide SMS DEEN with such information as SMS DEEN may require or request, in its discretion, in relation to this Agreement and your relationship with SMS DEEN, including all information required to comply with all applicable laws and regulations, including all applicable anti-money laundering rules and regulations.


    4.2.     Without prejudice to the generality of the foregoing, you must provide a copy of your current valid government-issued photo identification document details visible and/or such other identifying and verifying information or documents as we determine from time to time in our discretion (the “ID Documentation”) at a time to be determined by us, prior to selling gold or withdrawal of any gold in your SMS DEEN Account, upon your funding reaching a certain level prescribed by us, or at any other time at our discretion.


    4.3.     You agree that your ID Documentation will be a colour reproduction of the original document without obstruction, of sufficient size, resolution and legibility. You agree that SMS DEEN is entitled to perform a background check prior to approving your application to open a SMS DEEN Account or at any other time during the course of the relationship at our discretion. You further consent to SMS DEEN contacting credit bureaux to obtain information about you for purposes of confirming your identity under applicable “know-your-customer” rules. You understand that failure to provide any of the information we request from time to time under such rules may result in your SMS DEEN Account being frozen and/or terminated without any notice to you.


    4.4.     You represent and warrant to us at all times that, to the best of your knowledge, any information provided to us by you is complete, accurate, and not misleading in any material respect and you agree to notify us should such information change.


    4.5.     Any information provided on SMS DEEN Services is general information only and does not take into account your needs, objective and/or financial situation. You further agree that before deciding to use the SMS DEEN Services, you will equip yourself with reasonable knowledge regarding purchase and sale of Gold not limited to rate of gold price (every now and then).


    4.6.     We recommend you to seek independent advice and ensure you completely understand the risks involved and carefully consider your objectives, financial situation, needs and investment experience. There are also risks involved with online service, but not limited to hardware and/or software failures, and disruptions to communication systems and internet connectivity.


    4.7.  You hereby warrant and represent to us that:-


    (a)unless and until you notify us in writing to the contrary:


    (i)         no person other than you have or will have any interest in the any account created under your particulars in the SMS DEEN Platform; and


    (ii)        all monies which will be paid to us, all collateral and/or guarantees in favour of us to secure usage and access of the SMS DEEN Platform and/or SMS DEEN Services shall come from a lawful source of activity and not unlawful activities, as defined under the Anti Money Laundering and Anti Terrorism Financing Act 2001 (“AMLA”);


    (b)        on notification that you are an intermediary for other persons:


    (i)         We may require and you agree and undertake to provide verification of the identity of the beneficiary and such information as we may require, including but not limited to certified true copies of any authorisation to act or documents that may be required for the purposes of verifying the information provided you, which copies may thereafter be retained by us;


    (ii)        You further declare and certify that the necessary “know-your-client” checks have been conducted including but not limited to the identity, existence, address and nature of the business of the beneficiary, it being confirmed by you that the monies, funds or collateral are from a lawful source of activity and not unlawful activity as defined under the AMLA; and


    (iii)        it is further clearly agreed and understood that the provision of details of your beneficiary shall not make your beneficiary our customer and/or user and we shall be entitled to hold you as the principal user and/or customer.


    (c)        In addition to the above, you hereby irrevocably and unconditionally agree and undertake that:-


    (i)         you shall disclose and furnish to us any information required or deemed necessary and to our satisfaction in a timely manner within the period specified by us, whether or not for purposes of complying with any regulatory requirements;


    (ii)        pending receipt of information by us from you and until received and verified thereof to our satisfaction and/or the relevant authorities, we shall neither be obliged to proceed with any transactions or disbursements nor accept any monies, funds or collaterals (“Assets”). In relation to Assets already in our possession, we shall be entitled (and authorised) to retain the Assets for the time being; any Assets requested to be returned to the you shall be returned to you after we receive satisfactory clearance from the relevant authorities;


    (iii)        You will not use the SMS DEEN Platform and/or SMS DEEN Services for money laundering or violate any laws relating to money laundering as defined under the AMLA; and


    (iv)       in no event shall we be liable for any direct, indirect, consequential or any losses whatsoever or howsoever arising or by reason of our exercise of our duties under the laws for the time being in force, in particular but not limited to its statutory duties under the AMLA.


    (d)        In the event any funds received by us from you is found to be from an unlawful source of activity and not a lawful activity as defined under the AMLA at any time and from time to time upon the discharge and release of your obligations hereunder by us, you hereby agree and acknowledge that:-


    (i)         the release and the discharge of your obligations hereunder shall be automatically deemed to be invalid from the date it is established that the source of funds or any part thereof falls within the ambit of the AMLA and you shall continue to be liable to us under the terms of this Agreement; and

    (ii)        You shall indemnity and keep us fully indemnified (on full indemnity basis) for any losses, damages, costs, fees and charges incurred by us as a result of contravention by you of the provisions of the AMLA.





    5.1.     To protect your privacy and information about your SMS DEEN Account and access to your account, when you open a SMS DEEN Account, you must create a Password. Unless you enter the correct Password upon logging in to your SMS DEEN Account, we are unable to take your instructions regarding your SMS DEEN Account. You are responsible for, and give us your authorization to carry out, all instructions given to us online where and when your correct Password is entered to access your SMS DEEN Account. SMS DEEN will not be liable to you for any loss or claim arising out of our relying on oral or electronic instructions provided to us using your Password.


    5.2.     You accept that it is your responsibility to keep your Password confidential. You alone are responsible for your Password security. When you give us instructions by cellular phone, email, or other non-secure methods, including instructions sent through the Mobile App, we cannot guarantee confidentiality because third parties can intercept those methods of communication. If you suspect that any other person has become aware of your Password, you must immediately notify us in writing by email or via the SMS DEEN Application customer service chat and you agree to cooperate with us in any subsequent investigation. In addition to Passwords, you may be required to adopt other security measures that we make available to protect the security of your information.


    5.3.     You must exercise safe security practices when accessing and conducting electronic transactions. This includes signing out and closing any online electronic transaction services once all transactions have been completed regardless of your method of accessing the SMS DEEN Platform. You must also maintain any security measures that we recommend relating to requirements for encryption technology, virus scanning, software, firewall systems, anti-spyware software, cybersecurity measures and similar safeguards to maintain security for all electronic transaction activities.


    5.4.     SMS DEEN does not store Passwords on the backend, only on the user’s phone; consequently only one device can be used by a user for one account at any point in time.


    5.5.     Every network communication with SMS DEEN servers is secured by the Transport Layer Security (TLS) protocol.


    5.6.     SMS DEEN maintains the master copy of ownership records. Records relating to you and your SMS DEEN Account will only be modified upon the execution of your valid instructions, in accordance with the terms of this Agreement.


    5.7.     SMS DEEN ensures that at least two widely separated data system storage running, parallel with dual separated system, of the full SMS DEEN online based customer database.





    6.1.     When you buy, sell and/or acquire gold through SMS DEEN Platforms, you enter into a legally binding contract with us whereby you must ensure that you comply with your obligations to us mentioned herein;


    6.2.     When you make an order to buy the gold through SMS DEEN Platform/ SMS DEEN Services, it shall be deemed that you are making an offer to us and we have the absolute discretion to accept and/or reject your offer within reasonable time;


    6.3.     You can enter your order to buy gold from us using the SMS DEEN Platform/ SMS DEEN Services which can be used 24 hours per day, 7 days per week, 365 days per year unless and only in the event the SMS DEEN Platform/ SMS DEEN Services suffer from any inclusive but not limited to market distortion, volatile markets, systems (including third party systems upon which SMS DEEN is reliant) being hacked, technical glitch, market disruption and inaccuracy of information that occurred beyond our reasonable control.


    6.4.     When you initiate a buy order, the order is not processed until your funds have reached our trust account and the same has been processed, verified and accepted by us. We reserve the rights and you agree that we may cancel and/or reject your order at any time due to any reason whatsoever, at our sole and absolute discretion.  In the event of the cancelation thereof, we will notify you accordingly and will process the refund of your funds within reasonable time;


    6.5.     You may initiate a buy order of the gold by entering the amount you offer to by using SMS DEEN Platform/ SMS DEEN Services and by the payment methods as advised by us in the SMS DEEN Platform/ SMS DEEN Services;


    You understand that you will only obtain legal title to the gold that your offer to  buy once we have processed, verified and accepted your funds and after determination that your offer to buy is free from inclusive but not limited to market distortion, volatile markets, systems (including third party systems upon which SMS DEEN is reliant) being hacked, market disruption and inaccuracy of information that occurred beyond our reasonable control. It is only at that point in time that the gold transaction is completed.


    6.6.     You agree that although SMS DEEN Platform/ SMS DEEN Services display shows that you have made your buy gold order and/or you have made your sell gold order and subsequent to that your funds have been transferred to us and/or you have received funds being the proceeds of gold to your account, such actions are reversable by us in the event inclusive but not limited to market distortion, volatile markets, systems (including third party systems upon which SMS DEEN is reliant) being hacked, technical glitch, market disruption and inaccuracy of information that occurred beyond our reasonable control.


    6.7.     For the avoidance of doubt, all transactions in relation to any gold designated, labelled and/or identified as 916 and/or 999 gold (hereinafter referred to as “916/999 gold”) by us, whether purchased through the SMS DEEN Platform and/or SMS DEEN Services shall be subject to the prevailing terms and conditions outlined herein:-


    (a)                 Any and all purchases of 916/999 gold shall incur workmanship charges or service charge upon redemption;


    (b)                 Only the account holder personally shall be permitted to assert physical claims of any 916/999 gold at the store wherein verification of identity through valid and cogent government identification; and


    (c)                 Any in-store and/or physical redemption as provided for under the terms of this Agreement shall be exclusive to the physical redemption of 916/999 gold and does not extend to cash transactions.


    7.   PRICE


    7.1.     You agree that the price for any purchase or sale of gold for any transaction within your SMS DEEN Account will be calculated and/or determined by our pricing engine. The pricing engine, among other things, collects and distributes real-time gold prices from its bullion counterparties quoting BUY AND SELL price for the purchase or sale of physical gold bullion from each respective Bullion Provider SMS DEEN transacts with. You accept that the price is determined at SMS DEEN’s sole and absolute discretion taking into account all factors it deems relevant, including without being limited to the prevailing world and local market conditions for gold, the exchange rate between United States Dollar (or any other foreign currency adopted) and Ringgit Malaysia and the gold fineness. Every gold transaction in your SMS DEEN Account is executed at the price as stated in the SMS DEEN Platform.


    7.2.     Physical withdrawal of gold are subject to a processing fee payable from your SMS DEEN Account. Taking possession of physical gold will incur service charges which will be confirmed with you in advance within the platform itself. It is your responsibility to ensure that sufficient funds are available in your SMS DEEN Account at the effective time of any funds transfer or payment to satisfy in full any such funds transfer or payment. Requested transactions may not be processed if you do not have sufficient funds in your SMS DEEN Account.


    7.3.     We reserve the right to adjust, cancel, reject and reverse your order at any time, in the event (but not limited to) market distortion, volatile markets, systems (including third party systems upon which SMS DEEN is reliant) being hacked, technical glitch, system disruption and inaccuracy of information that occurred beyond our reasonable control. In the event of any such occurrence, we will notify you.




    8.1.     You authorize us to arrange for the storage, transportation, and insurance of your gold. We will hold your gold as bailee and you hereby acknowledge and agree that we shall be authorised by you to enter into storage agreements with any third party, in our sole and absolute discretion.


    8.2.     Any storage agreement entered into with SMS DEEN provides that gold allocated under the storage agreement will be specifically identified and physically segregated at all times.


    8.3.     You authorize us to act as bailee and to provide instructions to the SMS DEEN and insurance company in such capacity under the terms of the bailment.


    8.4.     SMS DEEN will ensure your bullion is insured against theft and damage according to the accepted insurance standards of the bullion industry, and at a cost which is included in the charge you pay to SMS DEEN in respect of custody of your bullion.




    9.1.   You may, by initiating a withdrawal request via the SMS DEEN Platform, together with such identifying information as requested by SMS DEEN, at any time request physical withdrawal of your gold, provided that you hold sufficient gold (as specified in clause 9.2) and subject to the withdrawal limits described below.


    9.2.   Physical withdrawals of gold are subject to a minimum quantity in the form of whole grammes when making a physical withdrawal request through the SMS DEEN Platform. Physical withdrawals of gold may be subject to daily maximum withdrawal limits. You are responsible for the payment of any service charges, and/or other fees, which will be advised to you and agreed with you in advance.


    9.3.   You may sell the gold in your SMS DEEN Account and the gold in your SMS DEEN Account will then be sold at the prevailing SELL market price at the time of the SELL pursuant to clause 6. The transfer of your SELL gold value from SMS DEEN Account to your personal bank account may be subject to transfer limits based maximum daily allowance that is prescribed by our third-party banking operator.


    9.4.   SMS DEEN reserves the right to reject any incoming or outgoing wire. Outgoing wire instructions may be rejected if the details provided are insufficient, the receiving institution cannot be identified, it is uneconomical to do so, the currency is not one of currencies accepted by SMS DEEN from time to time or if there are insufficient net funds in the SMS DEEN Account. Incoming wire transfers will be rejected if they are sent from a third party or from a bank in a country which SMS DEEN deems to pose a high risk.




    10.1. SMS DEEN, its agents, employees, or officers, shall under no circumstances be liable:


    (a)                to you, whether in contract, tort, breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with this Agreement;


    (b)                for any special, general, direct, indirect, incidental or consequential damages, even if we had been advised of the possibility thereof;


    (c)                for any fees, duties, taxes, or loss as a result of theft or any other loss of gold after it has been removed from the Vault at your request for delivery or collection;


    (d)                for any damages resulting from latent defect, loss of data or loss of profits;


    (e)                for any damages resulting from any of your instructions not being sufficiently clear or any failure by you to provide correct or requested information;


    (f)                 for any loss as a result of risks associated with online trading, including software and hardware failure latent defect, loss of data, delays, failure, errors, omissions, or losses of transmitted information or instructions, power outages, internet failure, hackers, denial of service (DoS) attacks, viruses, or other contaminating or destructive properties;


    (g)                for any penalties, fees, interest, costs or damages imposed upon or incurred by you with respect to any transfers or payments, or for our inability to retrieve electronic payments from accounts held at financial institutions.


    10.2. SMS DEEN will not be in breach of this Agreement or otherwise liable for any loss suffered or incurred as a result of any delay in performance or any non-performance of any obligations under this Agreement (and, where relevant, the time for performance will be extended accordingly) if and to the extent that the delay or non-performance is owing to:


    (a)                Force Majeure; or


    (b)                neglect, serious fault or wilful misconduct on the part of you including any failure to keep your Password secure and any failure to comply with this Agreement or associated policies.

    10.3. In case of Force Majeure, we will use our reasonable endeavours to mitigate the effect of the Force Majeure and to carry out our obligations under this Agreement in any other way that is reasonably practicable. We will, as soon as reasonably practicable, notify you of the nature and extent of the circumstances giving rise to Force Majeure. If the Force Majeure in question prevails for a continuous period in excess of six (6) months after the date on which the Force Majeure begins, you shall be entitled to give notice to us to terminate this Agreement in accordance with clause 13.


    10.4. In the case of market distortion, volatile markets, systems (including third party systems upon which SMS DEEN is reliant) being hacked, and market disruption, SMS DEEN reserves the right to adjust an order if the metal and currency quotes received from SMS DEEN’s data source, when the order was placed, is found to be incorrect. SMS DEEN will contact you if an order needs to be adjusted due to incorrect market data, and SMS DEEN shall cancel the order if you do not want to trade on the corrected market rate.


    10.5. For the avoidance of doubt and in any event, our total liability to you in respect of any losses arising under or in connection with this Agreement, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the maximum aggregate value of the SMS DEEN Account at the time where your cause of action first arose or subject to a maximum liability limit of $10 (ten) United States dollars or equivalent, whichever higher.


    10.6. Information sent over the Internet may not be completely secure and the Internet and related online systems may not function at all times. We are not responsible for any loss or damages you may incur if a third party obtains access to your confidential information transmitted over the Internet or if you are temporarily unable to determine your balance on the SMS DEEN Platform.


    10.7. If you grant express permission for a third party to connect to your SMS DEEN Account, either through the third party’s product or through the SMS DEEN Services, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold SMS DEEN responsible for, and will indemnify SMS DEEN from, any liability arising from the actions or omissions of this third party in connection with the permissions you grant.


    10.8. SMS DEEN shall not be responsible for any loss or damages resulting from any failure on your part to conduct appropriate due diligence on parties with whom you choose to deal. You accept that you may make and receive payments from other SMS DEEN users and understand that SMS DEEN does not accept liability for the fraudulent or misleading actions of parties to whom you make and from whom you receive payments. It is your entire responsibility to conduct appropriate due diligence and your choice whether or not to make a payment or agree to receive a payment in return for goods or services.


    10.9. You will be held responsible for any fraudulent transactions on your SMS DEEN Account directly resulting from:


    (a)                   fraudulent, or grossly negligent acts committed from your account; or


    (b)                   a breach of security of the SMS DEEN Platform where such transactions resulted from the misuse of your Password.




    10.11. This clause 10 shall survive termination of the Agreement or closure of any SMS DEEN Account.



    11.           INDEMNITY


    11.1.                You irrevocably and unconditionally agree to indemnify and keep SMS DEEN and its directors, officers, employees, and agents indemnified against any loss, claim, damage, cost, or expense or any other liability whatsoever (including, without limitation, legal fees on a full indemnity basis and all taxes and other duties payable in connection therewith) which may be suffered:


    (a)            in connection with any service provided to you under this Agreement;


    (b)            as a result of your failure to comply with any of your obligations under this Agreement;



    (c)            as a result of any breach of the terms of this Agreement by you;


    (d)            in the enforcement of this Agreement; or


    (e)            in connection with any instruction given by you, any transaction effected for you or any service provided to you, including any action properly taken by SMS DEEN or by its agents under this Agreement.


    11.2.               The indemnity in  clause 11 shall survive the termination of this Agreement or closure of any SMS DEEN Account.




    12.1.     Subject to clause 12.6, this Agreement will remain in effect and will bind you and us until such time as your SMS DEEN Account is closed. Notwithstanding any other provision of this Agreement to the contrary, we may, at our sole and absolute discretion, close your SMS DEEN Account, terminate the transaction and terminate this Agreement unilaterally by notice to you with immediate effect for any reason whatsoever. You may close your SMS DEEN Account and terminate this Agreement by giving written notice to us if your SMS DEEN Account has a nil or zero balance.


    12.2.     SMS DEEN reserves its right to immediately suspend or terminate your access to any or all of the SMS DEEN Services and/or deactivate or cancel your SMS DEEN Account if you are in default of any of the terms in this Agreement, including if:


    (a)            SMS DEEN is required to do so by a valid subpoena, court order, or order from a regulatory authority, or otherwise required by law;


    (b)            your SMS DEEN Account is being misused or SMS DEEN suspects that it is being used in furtherance of illegal activity (with or without actual knowledge of the same);


    (c)            you take any action to circumvent SMS DEEN’s controls, including, but not limited to, opening multiple SMS DEEN Accounts or abusing promotions which SMS DEEN may offer from time to time, or;


    (d)            if you are in breach of this Agreement.



    12.3.     You will not be charged for cancelling your account and will only be required to pay for those SMS DEEN Services used that are subject to charges. If any transaction is in a pending state at the time your account is cancelled or suspended, such transaction may be cancelled and/or refunded as appropriate. You may not cancel your account to evade an investigation or avoid paying any amounts otherwise due to SMS DEEN.


    12.4.     Upon suspension or cancellation of your account, you authorize SMS DEEN to cancel or suspend pending transactions and hold the funds associated with such transactions until SMS DEEN is certain that funding reversal windows are complete. In the event that SMS DEEN closes your account or terminates your access to the SMS DEEN Services, or deactivates or cancels your account, you will remain liable for all amounts due hereunder.


    12.5.     Any accrued rights, remedies, obligations and liabilities of the parties as at termination shall not be affected, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination. Any clauses of this Agreement which expressly or by implication have effect after termination shall continue in full force and effect.


    12.6.     In the event that a technical problem causes system outage or account errors, SMS DEEN may temporarily suspend access to your SMS DEEN Account until the problem is resolved.





    13.1.       If you die or otherwise become incapacitated, and evidence of such is produced to us by your legal personal representative(s), which we deem to be sufficient in our absolute discretion, you authorize us to sell the gold in your SMS DEEN Account at the prevailing market price and release the funds (after deducting all applicable fees and charges) to your legal personal representative. In such an event, your legal personal representative shall be the only person(s) recognised by SMS DEEN as having any title or legal rights to your SMS DEEN account.


    13.2.       Nothing in this Agreement shall release the estate of a deceased Customer from any liability in respect of the SMS DEEN Account.


    14. TAX


    14.1.       You are responsible for paying all local taxes and tariffs that are or may be applicable to purchases, conversion, sale or custody of gold, and any associated charges.




    15.1.       You acknowledge that any and all of the intellectual property rights including, without limitation, the SMS DEEN trademark, any other trademarks, trade names, copyright and other rights used or embodied within the SMS DEEN Platform are and will remain SMS DEEN’s sole property.


    15.2.       All information and material which we supply to you, excluding your account balances and other information specific to your account, constitutes part of our confidential and proprietary information except for any such information or material in the public domain through no fault of yours. You may not reproduce, copy, or disclose such confidential and proprietary information without our prior written consent.


    15.3.       You warrant that you will not, nor will you attempt to, tamper with, modify, reverse engineer, gain unauthorised access to, or in any way alter any of our software or the SMS DEEN Platform. You understand that we may close your account immediately, and may take legal action against you if you breach, or we reasonably suspect that you may have breached, this warranty.






    16.1.       Assignment


    (a)        SMS DEEN may at any time assign, transfer, charge, subcontract or deal in any other manner with all or any of its rights under this Agreement and may subcontract or delegate in any manner any or all of its obligations under this Agreement to any third party or agent;


    (b)        You shall not, without the prior written consent of SMS DEEN, assign, transfer, charge, subcontract, or deal in any other manner with all or any of its rights or obligations under this Agreement.


    16.2.       Right of set-off


    (a)        You shall be under an obligation to pay all amounts due under this Agreement in full without any deduction or withholding except as required by law and you shall not be entitled to assert any credit, set-off, or counterclaim against SMS DEEN in order to justify withholding or disputing payment of any such amount in whole or in part.


    (b)        SMS DEEN may, without limiting its other rights or remedies, set-off any amount owing to it (or to any of its affiliates) by you against any amount payable by SMS DEEN to you.


    16.3.       Currency


    (a)        Any and all monetary amounts displayed in the SMS DEEN Platform are in the local currency selected by you;


    (b)        Currency conversions are performed from time to time;


    (c)        SMS DEEN itself does not charge currency conversion fees and shall not be liable for any fees, charges, or conversion rates on international transactions which may be charged by credit card issuers, financial institutions, or banks.


    16.4.       Entire agreement


    (a)        This Agreement constitutes the whole and only agreement between the parties relating to the subject matter of the Agreement. Each party to the Agreement acknowledges that, in entering into this Agreement, it is not relying on any pre-contractual statement which is not repeated in this Agreement.


    (b)        Except in the case of fraud by either party, no party shall have any right of action against the other party arising out of or in connection with any pre-contractual statement except to the extent that it is repeated in this Agreement.


    (c)        This Agreement applies to the exclusion of any other terms that you may seek to impose or incorporate, or which are implied by trade, custom, practice or course of dealing.


    16.5.       Variation


    (a)  Except as set out in this Agreement, any variation, including the introduction of any additional terms and conditions, to the Agreement, shall only be binding when agreed in writing and signed by an authorised signatory of SMS DEEN.


    (b)  We shall have the right, by notice on SMS DEEN Platform, to add to, alter, vary, supplement, or modify all or any parts of the Agreement at any time as we may consider necessary or desirable in order to reflect changes in the law, to meet regulatory requirements or to reflect new industry guidance and codes of practice or changes to our notices, policies and operating procedures.


    (c)  We may vary or amend the terms or provisions of this Agreement (including those relating to fees), by giving you written notice on SMS DEEN Platform of any variation or amendment, which notice, if posted on SMS DEEN Platform, shall be deemed to have been received by you on the day it was posted.


    (d)  You shall be deemed to have agreed to any variation or amendment of the terms or provisions of this Agreement if you continue to use our services after the date specified in the notice as the effective date of such variation or amendment. If you do not wish to be bound by any variation or amendment in accordance with this clause 17.5, you may terminate this Agreement in accordance with clause 13.1 and must notify us in writing without delay and, in relation to variation or amendment under clause 17.5(c), before the expiry of the notice period.


    16.6.       Severability


    (a)    In the event any provision (or part of any provision) of this Agreement shall for any reason be held by a court or any other competent authority to be invalid, illegal, or unenforceable, that provision, to the extent required, shall be deemed deleted and the remaining provisions shall remain valid and enforceable.


    16.7.       Rights of third parties


    (a)    A person who is not a party to this Agreement shall not have any rights under or in connection with it.


    16.8.       No agency or partnership except as otherwise expressly provided for in this Agreement, nothing in this Agreement is intended to, or shall be deemed to, constitute a trust, partnership or joint venture of any kind between any of the parties, nor constitute any party a fiduciary or agent of another party for any purpose. No party shall have authority to act as agent for, or to bind, the other party in any way.


    16.9.       Notices


    (a)  Any notice or other communication required to be given to a party under or in connection with this Agreement shall be in writing and shall be sent to the other party, such notice shall be deemed to have been duly received on the same day as it is published on the SMS DEEN Platform.


    (b)  This clause 17.9 shall not apply to the service of any proceedings or other documents in any legal action, which documents must be sent to SMS DEEN’s registered address, as published on the SMS DEEN Website from time to time.


    16.10.   No waiver


    (a)  A waiver of any right under this Agreement is only effective if it is in writing and shall not be deemed to be a waiver of any subsequent breach or default. No failure or delay by a party in exercising any right or remedy under the Agreement or by law shall constitute a waiver of that or any other right or remedy, nor preclude or restrict its further exercise. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that or any other right or remedy.


    (b)  Unless specifically provided otherwise, rights arising under the Agreement are cumulative and do not exclude rights provided by law.





    16.11.   Governing law


    (a)        This Agreement is governed by the laws of Malaysia applicable therein.


    (b)        In the event a dispute arising out of and/or pursuant to the Terms of Service:-


    (i) where you are the claimant, you hereby agree and acknowledge that as a condition precedent, you shall notify us by way of email to, specifying the nature and basis of the claim, the specific relief sought, and your information. We will attempt to resolve your dispute internally as soon as possible within a period of 60 days wherein parties hereby agree and acknowledge to negotiate in good faith to resolve the dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding). In the event the dispute cannot be resolved satisfactorily within the said period of 60 days, parties shall resolve the dispute in accordance with arbitration as set out in this Agreement. For the avoidance of doubt, the settlement negotiations for a period of 60 days are prerequisites to commencement of an arbitration proceeding (or any other legal proceeding). During the arbitration, the amount of any settlement offer made by us are strictly without prejudice shall not be disclosed to the arbitrator.


    (ii)where we are the claimant, you hereby agree and acknowledge that the conditions precedent as set out in clause16.11(b)(i) above do not apply to us and that such dispute shall be resolved in accordance with clause 16.11(c), by way of reference to arbitration.


    (c)        You and us agree that, subject to clause16.11(b)(i) above, any dispute, claim, or controversy between you and us arising in connection with or relating in any way to this Agreement or to your relationship with us (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms of Service) will be determined by mandatory final and binding individual (not class) arbitration, except as set forth below under Exceptions to Agreement to Arbitrate. You and us further agree that the arbitrator shall have the exclusive power to rule on his or her own jurisdiction, including without limitation any objections with respect to the existence, scope or validity of the Agreement to Arbitrate, or to the arbitrability of any claim or counterclaim. Arbitration is more informal than a lawsuit in court. THERE IS NO JUDGE OR JURY IN ARBITRATION, AND COURT REVIEW OF AN ARBITRATION AWARD IS LIMITED. There may be more limited discovery than in court. The arbitrator shall comply strictly with this Agreement and can award the same damages and relief as a court (including, if applicable, attorney fees), except that the arbitrator may not award declaratory or injunctive relief in favour of anyone but the parties to the arbitration. The arbitration provisions set forth in this section will survive termination of this Agreement. In this regard, it is hereby agreed as follows:-


    (i)The arbitration shall be subject to the Asian International Arbitration Centre Rules (AIAC Rules) in force when the Notice of Arbitration is submitted, as modified by this section.


    (ii)The arbitration will be administered by the AIAC.


    (iii)Unless the parties agree otherwise, there shall be only one arbitrator appointed in accordance with the AIAC Rules.


    (iv)Any arbitration will be conducted in the English language. Regardless of the manner in which the arbitration is conducted, the arbitrator shall issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the decision and award, if any, are based.


    (v) The seat and the venue (place of hearing) of arbitration shall be Kuala Lumpur.


    (vi)Judgment on any arbitral award may be given in any court having jurisdiction over the party (or over the assets of the party) against whom such an award is rendered.


    (vii)Any arbitration against us must be commenced by filing a request for arbitration within one (1) year, after the date the party asserting the claim first knows or reasonably should know of the act, omission or default giving rise to the claim; and there shall be no right to any remedy for any claim not asserted within that time period. This one year limitation period is inclusive of the internal dispute resolution procedure set forth above. There shall be no right to any remedy for any claim not asserted within that time period. If applicable law prohibits a one-year limitation period for asserting claims, any claim must be asserted within the shortest time period permitted by applicable law.


    (viii)If we request arbitration against you, we will give you notice at the email address or mailing address you have provided. You agree that any notice sent to this email or mailing address shall be deemed effective for all purposes, including without limitation to determinations of adequacy of service. It is your obligation to ensure that the email address and/or mailing address on file with us is up-to-date and accurate.


    (ix)The parties agree that the arbitration shall be kept confidential. The existence of the arbitration, any non-public information provided in the arbitration, and any submissions, orders or awards made in the arbitration (together, the “Confidential Information”) shall not be disclosed to any non-party except the tribunal, the AIAC, the parties, their counsel, experts, witnesses, accountants and auditors, insurers and reinsurers, and any other person necessary to the conduct of the arbitration. Notwithstanding the foregoing, a party may disclose Confidential Information to the extent that disclosure may be required to fulfill a legal duty, protect or pursue a legal right, or enforce or challenge an award in bona fide legal proceedings. This confidentiality provision shall survive termination of these Terms of Service and of any arbitration brought pursuant to these Terms of Service.


    (x)You acknowledge that any dispute arising out of or related to this Agreement is personal to you and us and that any dispute will be resolved solely through individual arbitration and will not be brought as class arbitration, class action or any other type of representative proceeding. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including us.


    16.12.   Void where prohibited


    (a)        Although the SMS DEEN Platform is accessible worldwide, not all features, products or services discussed, referenced, provided or offered through or on the SMS DEEN Platform are available to all persons or in all geographic locations, or appropriate or available for use outside of Malaysia. SMS DEEN reserves the right to limit, in its sole discretion, the provision and quantity of any feature, product or service to any person or geographic area. Any offer for any feature, product or service made on the SMS DEEN Platform is void where prohibited. If you choose to access the SMS DEEN Platform from outside Malaysia, you do so on your own initiative and you are solely responsible for complying with applicable local laws. SMS DEEN is not responsible or liable for any legal action, loss or damage arising from or in connection with any illegality or breach of law arising from you accessing or initiating a transaction on the SMS DEEN Platform outside Malaysia.


    16.13.   Language


    (a)        The parties to this Agreement have requested that this Agreement and any related document be written in English. Notwithstanding any other provision of this Agreement, any translation of this Agreement is provided solely for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original language of English. In the event of any consistency between the English language and any other language, the English language shall prevail.




    17.1. You expressly consent to us by using SMS DEEN Platform, as we deem appropriate, to inform you of information about us and of changes to such information.


    17.2. We may also communicate with you via our website and applications, by email, telephone, fax, post, newsletter, letter, electronic chats, and/or any other means of communication. We will use the contact details provided by you to us during the registration of your SMS DEEN Account, and as updated by you to us.


    17.3. If your details change, including your email address, contact numbers, name, home address, country of residence or nationality, you shall notify us forthwith failing which, you hereby irrevocably and unconditionally agree and acknowledge that you shall be fully responsible and liable for all information, notification and/or change of terms as may be notified by us to you, in accordance with the contact details you have provided to us.


    17.4. Our Agreement with you, and all information, statements and notifications between you and us, will be in English and we will communicate in English. In  the event of any inconsistency between the English version and any other language, in respect of any document in relation to the SMS DEEN Platform and/or SMS DEEN Services, the English version shall prevail.





    Contacting us


    17.5. If you have any questions, or would like to speak to us, you can contact us in the following ways:



    Post:                     No 52, Jalan Masjid India, 50100, Kuala Lumpur, Wilayah Persekutuan






    18.1. You consent to and authorize us to collect, process, disclose, maintain, store, retain and transfer your personal data to other entities within SMS DEEN including its branches and subsidiaries within or outside of Malaysia.


    18.2. You also consent to us conducting credit checks and verification of information given by you in SMS DEEN platforms with any credit bureaus or corporation set up for the purpose of collecting and providing credit or other information.


    18.3. You also consent to disclosure of your financial condition, details of accounts, account relationship with us including transactions to:-



    a)          government or regulatory authorities in Malaysia and elsewhere, including but not limited to including Bank Negara Malaysia, Credit Bureau and Central Credit Reference Information System;


    b)          companies which are related to us by Companies Act 2016 , or any associated company of us or of its parent company;


    c)          party(ies) providing services (including but not limited to outsourcing vendors, lawyers, nominees, custodians, centralised securities depository or registrar, debt collection agents) to us;


    d)          our agents, consultants and professional advisers;


    e)          our assignees;


    f)            any person to whom disclosure is permitted or required by any law, regulation, governmental directive or request. We may, subject to compliance with the applicable regulatory rules or guidelines, use or apply any information relating to you collected, compiled, or obtained by us. Subject to your express consent, you hereby agree that our employees, independent contractor, representatives and/or agents to contact you from time to time via any means of communication including but not limited to telephone calls regarding any promotion.


    18.4.              You also declare that all personal information and data set forth herein are all true, up to date and accurate and should there be any changes to any personal information or, you shall notify us immediately.


    18.5.              We can assist you to access and correct your personal data held by us. Where you wish to have access to your personal data in our possession, or where you are of the opinion that such personal data held by us is inaccurate, incomplete, misleading or not up-to-date, you may make a request to us to update your data accordingly.


    18.6.              We will retain your personal data in compliance with this Policy and/or the terms and conditions of your agreement(s) with us for the duration of your relationship with us, for such period as may be necessary to protect our interests and/or where otherwise required by the law and/or where required by our policies.




    In any calculations in relation to purchase of gold under this Agreement, any and all such numerical values shall be rounded down to the second decimal place. This clause does not apply where specific provisions in this Agreement provides otherwise.



    C. Subject to Availability

    As per our online service platforms, they are programmed to be automated with self-invoicing technology. However, our automation technologies will have limitation due to but not limited to the physical world limitation such that the stock or items agreed in the automated invoice might not be available or with subject to price changes. As such, SMS DEEN will have the rights to cancel orders based on subject to availability of an item in the online services as and when it is suitable, with a reasonable justification clause pertaining to the market industry.

    D. System Limitation

    In the case of market distortion, volatile market, systems (including third party systems upon which SMS DEEN is reliant) being hacked and/or market disruption, SMS DEEN reserves the right to cancel an order if the metal quotes received from SMS DEEN's data source, when the order was placed, is found to be incorrect. SMS DEEN will notify you once the order is canceled via email immediately due to the incorrect data and/or system error.

    E. Copyright/Trademarks

    We reserve the rights on all the pictures, writings and other means of media contents of the Online Service website, Using content of this website for any non-personal, commercial and profitable means of use will be penalized to heavy lawsuit under the governing laws of Malaysia.

    The SMS Deen Jewellers Sdn Bhd logo is fully owned by SMS Deen Jewellers Sdn Bhd with the trademark clause and misuses of the logo in any other third-party websites will be fined and penalized to heavy lawsuit under the governing laws of Malaysia.

    F. Termination

    We may terminate or suspend access to our Online Service immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.

    All provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability. Create your own Terms of Service

    G. Links to Third-party Web Sites

    Our Service may contain links to third-party web sites or services that are not owned or controlled by SMS Deen Jewellers Sdn Bhd.

    SMS Deen Jewellers Sdn Bhd has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that SMS Deen Jewellers Sdn Bhd shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.

    We strongly advise you to read the terms and conditions and privacy policies of any third-party web sites or services that you visit.

    H. Governing Law

    These Terms shall be governed and construed in accordance with the laws of Malaysia, without regard to its conflict of law provisions.

    Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights. If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Online Service, and supersede and replace any prior agreements we might have between us regarding the Online Service.

    I. Changes

    We reserve the right, at our sole discretion, to modify or replace these Terms at any time. Once this Terms been revised, the notice prior to any new terms taking effect is immediate without further delays from publication. What constitutes a material change will be determined at our sole discretion.

    By continuing to access or use our Service after those revisions become effective, you agree to be bound by the newly effecting revised terms. If you do not agree to the new revised terms, you may immediately stop using our Online Service.