Important: These Terms of Service constitute a legally binding agreement between you and Halal Vault. By accessing our platform, registering an account, joining the waitlist, or applying for a loan facility, you confirm that you have read, understood, and agree to be bound by these terms. If you do not agree, do not use our services.
These Terms of Service ("Terms") govern your access to and use of the Halal Vault platform, website, and all related services (collectively, "Services") provided by Halal Vault Holdings ("Halal Vault", "we", "us", "our").
By accessing our website at thehalalvault.com, joining our waitlist, creating an account, or applying for or receiving a loan facility, you ("User", "you", "your") agree to be bound by these Terms, our Privacy Policy, and any additional terms applicable to specific services. These Terms apply to all visitors, waitlist registrants, registered users, and borrowers.
To use the Halal Vault lending services, you must:
Joining the waitlist does not constitute eligibility confirmation. Eligibility is assessed at the point of account creation and KYC verification. We reserve the right to decline any application without providing a reason, subject to applicable non-discrimination law.
Halal Vault provides a digital platform through which eligible users may apply for and receive interest-free loan facilities secured by digital asset collateral. Our Services include:
Halal Vault is a lending platform, not a bank. We do not accept deposits or provide regulated banking services. We are not a digital asset exchange. All Facility disbursements and repayments are conducted in fiat currency (NGN or GBP as applicable) unless otherwise specified in your individual loan agreement.
Every Facility extended through the Halal Vault platform is structured as a Qard Hasan contract — a benevolent loan under Islamic commercial law. Under this contract:
The Qard Hasan structure is subject to Shariah review by our independent scholarly advisor. A formal written Shariah opinion will be published upon completion of the review process.
Each Facility will be governed by a separate loan agreement signed at the time of disbursement. In the event of any conflict between these Terms and your individual loan agreement, the loan agreement prevails.
All Facilities are secured by digital asset collateral under a Rahn (pledge) contract. By applying for a Facility, you agree to the following Rahn terms:
You represent and warrant that: (a) you are the lawful owner of all Collateral; (b) the Collateral is free of any prior pledge, lien, or encumbrance; and (c) you have full authority to pledge the Collateral as Rahn security.
A flat Facility Fee is charged once at the time of loan disbursement. The fee is tiered by facility size and is fixed — it does not change, accrue, compound, or increase over the life of the Facility. The full fee schedule is published on our How It Works page and disclosed to you before any Facility is confirmed. The Facility Fee is non-refundable once the Facility is disbursed.
If you are unable to repay your Facility at maturity, you may apply for a Facility Renewal before the maturity date. Upon approval, the existing Qard Hasan contract is formally discharged and a new Qard Hasan contract is issued with a revised maturity date and updated Rahn collateral terms. The standard flat Facility Fee applies to the renewed facility as a charge for the new contract — not as a charge for additional time. Charging for time alone would constitute Riba and is prohibited. Facility Renewals are subject to approval and are not guaranteed. The renewed facility constitutes a new and independent lending arrangement.
Beyond the Facility Fee described in Section 7.1, Halal Vault charges no other fees in connection with your Facility. There are no origination percentages, no standalone extension fees, no monthly maintenance charges, no early repayment penalties, and zero interest — under any circumstances. A Facility Fee applies to any Facility Renewal as a charge for the new contract.
Network transaction fees associated with the transfer of digital assets (gas fees, exchange withdrawal fees) are your responsibility and are not included in the Facility Fee. These fees are charged by third-party networks and exchanges and are outside Halal Vault's control.
You must repay the exact principal amount of your Facility on or before the maturity date specified in your loan agreement. Repayment is made through your Halal Vault account dashboard.
Upon confirmed receipt of full repayment, the Rahn pledge is discharged and your Collateral is released and returned to your designated wallet. Halal Vault targets immediate release upon confirmation — subject to network processing times.
If you require additional time before maturity, you may submit an extension request through your account dashboard before the maturity date. Extension requests submitted after the maturity date will not be accepted. If you require additional time, you may apply for a Facility Renewal as described in Section 7.2. The Facility Fee for the new contract applies upon approval. Halal Vault reserves the right to decline extension requests at its discretion.
Failure to repay by the maturity date, without an approved extension, constitutes a default event and may trigger the collateral liquidation process described in Section 9.
The value of digital asset Collateral fluctuates with market prices. Halal Vault operates a conservative maximum LTV of 50%, providing a significant buffer. However, if the market value of your Collateral declines, the following process applies:
Liquidation terms are governed by the Rahn contract and are reviewed for Shariah compliance by our scholarly advisor. Liquidation does not constitute a penalty or punitive charge — it is the exercise of the pledgee's right under the Rahn contract to recover the principal from pledged security.
By using the Platform, you agree to:
You must not use the Halal Vault Platform for any of the following purposes:
Violation of these prohibitions may result in immediate account suspension, termination, referral to relevant authorities, and forfeiture of Collateral where legally permissible.
Halal Vault aims to maintain platform availability at all times but does not guarantee uninterrupted access. The Platform may be temporarily unavailable due to scheduled maintenance, technical issues, regulatory requirements, or circumstances beyond our reasonable control. We will endeavour to provide advance notice of planned downtime where possible.
Halal Vault is not liable for any loss arising from platform unavailability, except to the extent caused by our gross negligence or wilful misconduct.
All content, design, code, branding, logos, and materials on the Halal Vault Platform are the intellectual property of Halal Vault Holdings or its licensors, protected by applicable copyright, trademark, and intellectual property law.
You are granted a limited, non-exclusive, non-transferable licence to access and use the Platform for personal, non-commercial purposes in accordance with these Terms. You may not reproduce, distribute, modify, create derivative works from, or commercially exploit any Platform content without our prior written consent.
To the maximum extent permitted by applicable law, Halal Vault and its officers, directors, employees, and agents shall not be liable for:
Nothing in these Terms limits our liability for death or personal injury caused by negligence, fraud, or fraudulent misrepresentation, or any liability that cannot be excluded under applicable law.
Where liability cannot be fully excluded, our total aggregate liability to you in connection with the Services shall not exceed the total Facility Fee(s) paid by you in the 12 months preceding the event giving rise to the claim.
You agree to indemnify, defend, and hold harmless Halal Vault and its officers, directors, employees, agents, and affiliates from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or in connection with: (a) your use of the Platform in violation of these Terms; (b) your breach of any representation, warranty, or obligation under these Terms or your loan agreement; (c) your violation of any applicable law or third-party right; or (d) any inaccurate or false information provided by you to Halal Vault.
You may close your Halal Vault account at any time by contacting us at hello@thehalalvault.com, provided that you have no outstanding Facility balance. Accounts with active Facilities cannot be closed until the Facility is fully repaid and the Rahn pledge discharged.
Halal Vault reserves the right to suspend or terminate your account and access to the Platform at any time, with or without notice, if: (a) you breach these Terms; (b) we are required to do so by applicable law or regulatory authority; (c) we have reasonable grounds to suspect fraud, money laundering, or other prohibited activity; or (d) you fail to maintain KYC/AML compliance.
Upon termination of an account with no outstanding Facility, any Collateral held will be returned to your designated wallet. Upon termination of an account with an outstanding Facility, the outstanding principal becomes immediately due and Halal Vault may exercise its rights under the Rahn contract.
We encourage you to contact us in the first instance at hello@thehalalvault.com to resolve any dispute informally. We will endeavour to respond within 10 business days and to reach a fair resolution.
If a dispute cannot be resolved informally within 30 days, it shall be referred to mediation administered by a mutually agreed mediator before any formal legal proceedings are commenced.
Nothing in this clause prevents either party from seeking urgent injunctive or interim relief from a court of competent jurisdiction where necessary to protect its rights or assets.
For users in Nigeria: These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes not resolved by mediation shall be submitted to the exclusive jurisdiction of the courts of Nigeria.
For users in the United Kingdom: These Terms are governed by the laws of England and Wales. Any disputes not resolved by mediation shall be submitted to the exclusive jurisdiction of the courts of England and Wales.
The United Nations Convention on Contracts for the International Sale of Goods does not apply to these Terms.
Halal Vault reserves the right to amend these Terms at any time. Where changes are material, we will notify registered users by email at least 14 days before the changes take effect. Continued use of the Platform after the effective date of any amendment constitutes acceptance of the updated Terms.
For users with active Facilities at the time of an amendment, the Terms in effect at the time of loan disbursement will continue to govern that Facility unless you expressly agree to the updated Terms.
The current version of these Terms will always be available at thehalalvault.com/terms.
For questions, concerns, or notices under these Terms, contact us at:
We recommend retaining a copy of these Terms for your records. The effective version at the time of your loan disbursement governs your Facility.