PUBLIC SERVICE IJARA AGREEMENT
on granting the right to use a service with installment payment
AJR Finance Limited (hereinafter — the "Financial Organization", "AJR Finance"), acting under License No. AFSA-A-LA-2026-0013 dated 15.06.2026, issued by the Astana Financial Services Authority (AFSA) of the Astana International Financial Centre for the conduct of regulated activities related to the provision of Islamic financing, hereby offers any fully legally capable individual who meets the requirements of the Financial Organization (hereinafter — the "Client") to enter into a Service Ijara Agreement on the terms set forth below.
This Agreement is a public offer. By performing all the actions listed in clause 3.1 of this Agreement, the Client expresses full and unconditional agreement with the terms of the Agreement.
The Agreement is drawn up and performed in accordance with the law of the Astana International Financial Centre (hereinafter — the "AIFC") and the principles of Islamic finance (the prohibition of riba — usury, gharar — excessive uncertainty, maysir — gambling), and, in respect of matters not regulated by AIFC law, by the applicable legislation of the Republic of Kazakhstan, including the rules on consumer protection.
1. Key Definitions
1.1. Service Ijara — an Islamic financial transaction whereby the Financial Organization acquires from a supplier (Partner) the right to use a service (usufruct) and transfers that right to the Client in installments. The Financial Organization remains the owner of the right to the Service throughout the term of the Agreement.
1.2. Service — an intangible benefit acquired by the Client from the Partner under this Agreement, complying with the principles and rules of Islamic law (Sharia). The subject of the Agreement may only be services recognized as permissible (halal) in accordance with the standards of AAOIFI (Auditing Organization for Islamic Financial Institutions) and the internal requirements of the Sharia Supervisory Board of the Financial Organization.
1.3. One-time and Continuing Service. A One-time Service is rendered as a single act (e.g., a medical procedure). A Continuing Service is rendered over an extended period (e.g., a training course, a subscription). The type of Service is indicated in the Application and affects the procedure for the refund of funds.
1.4. Partner — service supplier — a legal entity or individual entrepreneur that has entered into an agreement with AJR Finance and obtained access to the AJR platform for submitting Client applications. The Partner is not a party to this Agreement.
1.5. Application — an electronic document that the Partner prepares through the AJR platform. The Application indicates the data of the Client and the Guarantor, the detailed parameters of the Service (including the name and details of the supplier, the nature, scope, exact timing, place and method of provision), its price, the amount of the down payment and the term of the installment plan.
1.6. Service Price — the total amount payable by the Client under this Agreement. It includes the cost of the Service paid to the Partner and the fixed rental fee (ujrah) payable to AJR Finance for transferring the right to use (usufruct) the Service to the Client. The said ujrah is set by agreement of the Parties prior to the conclusion of the Agreement, is not loan interest (riba), and is not subject to increase in the event of late payment by the Client.
1.7. Down Payment — part of the Service Price (not less than 10%) paid by the Client upon conclusion of the Agreement. It is not a pledge or earnest money — it is credited toward the total price.
1.8. Installment Plan (Payment Schedule) — the procedure for paying the remaining part of the Service Price in equal monthly payments in accordance with the Schedule. The Installment Plan does not involve the accrual of interest.
1.9. Acceptance — the Client's acceptance of the terms of this Agreement by performing the actions described in Section 3. The Agreement is deemed concluded from the moment of acceptance.
1.10. Guarantor — a person who, at the request of the Financial Organization, assumes joint and several liability for the Client's timely payment for the Service. The Guarantor undergoes the same verification as the Client and accepts the Agreement separately.
1.11. Ta'widh — compensation for actual and documented expenses incurred by the Financial Organization in collecting overdue debt (legal expenses, notices, court fees, etc.). It is not a fine or interest for late payment.
1.12. Force Majeure — circumstances of insuperable force beyond the control of the parties (natural disasters, war, state prohibitions, etc.), confirmed in writing by an authorized body of the Republic of Kazakhstan.
2. Subject of the Agreement
2.1. In accordance with the terms of this Agreement, the Financial Organization acquires from the Partner the right to use the Service (usufruct) and transfers that right to the Client for the term specified in the Application. The Client accepts the Service and pays its price in installments in accordance with the Payment Schedule. If the Service is to be rendered to the Client in the future (after the conclusion of the Agreement), this Agreement operates as Ijara Mawsufa fi al-Dhimma (a lease of a future service under an obligation to provide it in accordance with its description).
2.2. This Agreement is not a credit or a loan. The Financial Organization does not transfer monetary funds to the Client — it provides the Client with the right to use the Service.
2.3. The Financial Organization concludes an agreement with the Partner only after the Client has submitted and confirmed the Application and AJR Finance has approved it. The Partner is not a party to this Agreement.
2.4. Applications for amounts up to 1,000,000 tenge are reviewed automatically; applications above 1,000,000 tenge and up to 2,000,000 tenge are reviewed with additional verification.
3. Procedure for Concluding the Agreement
3.1. To conclude the Agreement, the Client sequentially performs the following actions in the AJR mobile application:
- Undergoes video identification confirming identity and intent.
- Undergoes identification through the State Database of Individuals by entering an SMS code.
- Confirms agreement with the terms of the Agreement by entering a one-time password (OTP) sent to the Client's phone number.
- Pays the down payment in the amount specified in the Application.
3.2. The Agreement is deemed concluded at the moment all four steps are completed. The place of conclusion of the Agreement is the city of Astana, the territory of the AIFC.
3.3. If the Client does not confirm the Application within 24 hours from the time it is submitted, the Application is automatically cancelled and the Agreement is not deemed concluded.
3.4. All actions performed using the Client's account in the AJR application are deemed to be the Client's own actions.
4. Procedure for Providing the Service and Transfer of Rights
4.1. The Financial Organization notifies the Client that, as of the date of conclusion of the Agreement, AJR Finance has acquired from the Partner a transferable right to the usufruct (right of use) of the Service, recognized by Sharia and established by a binding agreement with the Partner, which:
(a) specifically identifies the Service itself and its material parameters;
(b) creates an unconditional obligation of the Partner to provide the Service, enforceable regardless of the Partner's financial standing or solvency and secured by contractual protection mechanisms reviewed and approved by the Sharia Supervisory Board of the Financial Organization;
(c) is, by its legal nature and consequences, sufficient for AJR Finance to properly transfer this usufruct to the Client in accordance with this Agreement.
4.2. The right to use the Service passes to the Client from the moment the Service objectively becomes available to be received. The readiness of the Service is confirmed by an electronic notice from the Partner through the AJR platform.
4.3. The Service is deemed available to the Client upon the simultaneous satisfaction of the following conditions:
(a) the Partner has confirmed to the Financial Organization, through the AJR Platform (with provision of objective evidence), that the Service is fully ready to be received;
(b) the Financial Organization has sent the Client a notice of the availability of the Service through the personal account of the AJR application or via confirmed contact details;
(c) the Client has been given not less than 5 (five) calendar days from the moment of notification to verify availability and raise any possible objections.
The risk of failure to receive the Service for reasons unrelated to the fault of the Financial Organization or the Partner passes to the Client only after all three of the above conditions have been satisfied.
4.4. The parameters of the Service (name, description, term of provision, place, price, payment schedule) are specified in the Application, which is an integral part of this Agreement. Changing the scope of the Service or its characteristics within the framework of the current Agreement is not permitted; additional services shall be arranged under a separate agreement.
4.5. Warranties of the Financial Organization
AJR Finance warrants that the acquired right to use the Service corresponds to the stated terms, is not encumbered by the rights of third parties, and is free of attachments and restrictions preventing its transfer to the Client.
4.6. If the Partner has failed to perform its obligations regarding the Service for reasons beyond the Client's control, the Financial Organization shall be liable to the Client. AJR Finance undertakes to return to the Client the amounts paid for the unrendered part of the Service, or to engage another Partner to provide a similar Service at no additional cost to the Client (with the Client's consent), or to terminate the Agreement with respect to the unrendered Service with a recalculation of payments.
4.7. The Client is not obliged to pay for the part of the Service that was not provided to him.
5. Price and Payment Procedure
5.1. The down payment is not less than 10% of the Service Price specified in the Application, and is paid by the Client by non-cash means to AJR Finance's account simultaneously with the acceptance of the Agreement. This payment is credited towards the total price of the Agreement and qualifies as an advance partial payment of the Ijara price.
No part of the Down Payment may be recognized as earned income (ujrah) of the Financial Organization until the fact of the Service's availability to the Client has been established (in accordance with clause 4.3 of this Agreement). The said payment is recognized as earned by AJR Finance only in proportion to the actual provision of the right to use (manfa'ah) the Service.
5.2. The remaining part of the Price is paid monthly in accordance with the Payment Schedule posted in the AJR mobile application. The Client independently initiates each payment — no automatic debiting is carried out without an explicit action by the Client.
5.3. The Payment Schedule reflects the deferral of payment of the ujrah (rent) agreed by the Parties. The term for payments under the Payment Schedule may be longer than the term of the actual provision of the Service (the installment plan continues after the Service is completed) or shorter (full payment is completed before the Service ends).
If the Service was not provided to the Client in full for reasons unrelated to the Client's fault, the ujrah relating to the unprovided (unreceived) part of the Service shall not be charged, and the Payment Schedule shall be subject to a proportionate adjustment. At the same time, the Client is obliged to fully perform its obligations under the Payment Schedule with respect to payment of the ujrah relating to the part of the Service that has already actually been provided and made available to the Client.
5.4. The amount of payments that have already become due may not be unilaterally increased, including in the event of late payment. The Financial Organization does not charge penalty interest or late fees for the mere fact of delay.
6. Refusal of the Service and Refund of Funds
6.1. If the Client refuses a One-time Service no later than 15 calendar days before the start of its provision, the Financial Organization shall refund the amounts paid less the actually incurred and documented expenses (booking, air tickets, materials, administrative expenses).
6.2. If the refusal occurs less than 15 calendar days before the start of the Service: the refund is made less all expenses actually incurred by the Financial Organization and the Partner. Lost profit (unearned income) shall not be withheld from the Client.
6.3. In the event of refusal of a Continuing Service after the commencement of its provision:
- The Client pays for the actually consumed part of the Service in proportion to the total price.
- For the unrendered part, the amounts paid are refunded less non-refundable actual expenses (training materials, books, already paid licenses, etc.).
- The remaining payments under the Schedule for the unrendered part shall be subject to adjustment by agreement of the parties.
6.4. In all cases, the Financial Organization and the Partner are entitled to withhold only actually incurred and documented expenses. No fines or penalties shall be charged for the refusal.
6.5. Rescheduling the Service to another date or transferring the right to use the Service to another person is possible only by prior agreement with the Partner and the Financial Organization.
The transfer of the right to use the Service to a third party does not release the original Client from his payment obligations under this Agreement, unless the Financial Organization expressly gives its written consent to the transfer of the debt to the new Client (assignee) and the full release of the original Client from further liability under the Payment Schedule.
7. Suretyship
7.1. At the request of AJR Finance, the Client shall engage a Guarantor, who assumes joint and several liability for the timely payment of the Service Price.
7.2. The Guarantor undergoes the same identification and verification procedures as the Client and accepts the Agreement separately — by video identification and entry of a one-time password (OTP) sent to the Guarantor's phone number.
7.3. If the Client violates the Payment Schedule, AJR Finance shall notify the Client through the AJR application or to the phone number specified at registration. The Client is obliged to repay the overdue amount within 7 calendar days. If the debt is not repaid, AJR Finance shall send a demand to the Guarantor, who is obliged to perform the obligation within 3 business days.
7.4. The suretyship remains in effect until the Client has fully performed all obligations under the Agreement.
8. Liability of the Parties
8.1. In the event of late payment, the Client shall reimburse AJR Finance for the actual and documented expenses of collecting the debt (Ta'widh): legal services, notices, collection agency services, court fees, notary fees and other possible expenses. No penalty interest shall be charged for late payment.
8.2. In the event of delay, AJR Finance is entitled to claim only the actually overdue payments — without early demand for the entire remaining amount. Collection may be carried out repeatedly as each new delay arises.
8.3. AJR Finance is liable for providing the Client with the right to use the Service in accordance with the terms of the Agreement. In the event of non-provision or improper provision of the Service by the Partner, AJR Finance bears liability to the Client in the manner provided for in Section 4.
8.4. Limitation period. A claim for breach of the Agreement may be brought within 6 years from the date the grounds for the claim arose.
9. Client's Consents
9.1. By accepting this Agreement, the Client and the Guarantor give AJR Finance the following consents:
- to the collection, processing and storage of personal data in accordance with the requirements of AIFC law and the legislation of the Republic of Kazakhstan on personal data.
- to obtaining personal data from the State Database of Individuals of the Republic of Kazakhstan for purposes of identification and verification.
- to the transfer of information about the Agreement and its performance to credit bureaus of the Republic of Kazakhstan, as well as to obtaining credit reports on the Client and the Guarantor.
- to the engagement, for the collection of overdue debt, of a collection agency included in the register of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, acting on behalf of AJR Finance. The right of claim against the Client is not assigned (sold) to third parties.
9.2. The Client and the Guarantor are obliged to notify AJR Finance of any change of phone number, email address and other contact information within 3 business days through the AJR application. Notices sent to the last known contact information shall be deemed duly delivered.
10. Claims and Dispute Resolution
10.1. Pre-trial procedure
Before applying to court, the Client shall send a written claim to AJR Finance at the email address info@ajr.kz. The review period is 10 business days. The Client is also entitled to use AJR Finance's internal complaint-handling procedure (period — up to 30 calendar days).
10.2. All disputes, disagreements or claims arising out of or in connection with this Agreement shall be finally settled in the Court of the Astana International Financial Centre (AIFC Court). The Parties agree that proceedings in the AIFC Court shall be conducted in the Russian language, and that the applicable substantive law shall be the law of the AIFC in force.
10.3. The law of the AIFC and the principles of Islamic finance shall apply to the merits of the dispute, and, to the extent not regulated thereby, the legislation of the Republic of Kazakhstan.
11. Term of the Agreement
11.1. The Agreement enters into force at the moment of the Client's acceptance and remains in effect until all parties have fully performed their obligations to pay for the Service.
11.2. By accepting the offer, the Client confirms that he has reviewed AJR Finance's Privacy Policy, accepts its terms, and agrees to the processing of his personal data.
11.3. On all matters not expressly regulated by this Agreement, the law of the AIFC shall apply, and, to the extent not regulated thereby, the legislation of the Republic of Kazakhstan and the principles of Islamic finance applicable to the Ijara model.
12. Details of the Financial Organization
Name: AJR Finance Limited
Registered address: AIFC territory, Republic of Kazakhstan, city of Astana, Yesil District, Mangilik El Avenue, building 55/23, block C4.4, office No. 338
License No. AFSA-A-LA-2026-0013 dated 15.06.2026, issued by the AIFC Financial Services Regulatory Committee for the conduct of regulated activities related to the provision of Islamic financing
Email: info@ajr.kz
Mobile application: AJR
Acceptance of this offer by the Client through video identification, entry of the OTP code and payment of the down payment is equivalent to a handwritten signature and gives rise to all legal consequences in accordance with the law of the Astana International Financial Centre and the applicable legislation of the Republic of Kazakhstan.
on granting the right to use a service with installment payment
AJR Finance Limited (hereinafter — the "Financial Organization", "AJR Finance"), acting under License No. AFSA-A-LA-2026-0013 dated 15.06.2026, issued by the Astana Financial Services Authority (AFSA) of the Astana International Financial Centre for the conduct of regulated activities related to the provision of Islamic financing, hereby offers any fully legally capable individual who meets the requirements of the Financial Organization (hereinafter — the "Client") to enter into a Service Ijara Agreement on the terms set forth below.
This Agreement is a public offer. By performing all the actions listed in clause 3.1 of this Agreement, the Client expresses full and unconditional agreement with the terms of the Agreement.
The Agreement is drawn up and performed in accordance with the law of the Astana International Financial Centre (hereinafter — the "AIFC") and the principles of Islamic finance (the prohibition of riba — usury, gharar — excessive uncertainty, maysir — gambling), and, in respect of matters not regulated by AIFC law, by the applicable legislation of the Republic of Kazakhstan, including the rules on consumer protection.
1. Key Definitions
1.1. Service Ijara — an Islamic financial transaction whereby the Financial Organization acquires from a supplier (Partner) the right to use a service (usufruct) and transfers that right to the Client in installments. The Financial Organization remains the owner of the right to the Service throughout the term of the Agreement.
1.2. Service — an intangible benefit acquired by the Client from the Partner under this Agreement, complying with the principles and rules of Islamic law (Sharia). The subject of the Agreement may only be services recognized as permissible (halal) in accordance with the standards of AAOIFI (Auditing Organization for Islamic Financial Institutions) and the internal requirements of the Sharia Supervisory Board of the Financial Organization.
1.3. One-time and Continuing Service. A One-time Service is rendered as a single act (e.g., a medical procedure). A Continuing Service is rendered over an extended period (e.g., a training course, a subscription). The type of Service is indicated in the Application and affects the procedure for the refund of funds.
1.4. Partner — service supplier — a legal entity or individual entrepreneur that has entered into an agreement with AJR Finance and obtained access to the AJR platform for submitting Client applications. The Partner is not a party to this Agreement.
1.5. Application — an electronic document that the Partner prepares through the AJR platform. The Application indicates the data of the Client and the Guarantor, the detailed parameters of the Service (including the name and details of the supplier, the nature, scope, exact timing, place and method of provision), its price, the amount of the down payment and the term of the installment plan.
1.6. Service Price — the total amount payable by the Client under this Agreement. It includes the cost of the Service paid to the Partner and the fixed rental fee (ujrah) payable to AJR Finance for transferring the right to use (usufruct) the Service to the Client. The said ujrah is set by agreement of the Parties prior to the conclusion of the Agreement, is not loan interest (riba), and is not subject to increase in the event of late payment by the Client.
1.7. Down Payment — part of the Service Price (not less than 10%) paid by the Client upon conclusion of the Agreement. It is not a pledge or earnest money — it is credited toward the total price.
1.8. Installment Plan (Payment Schedule) — the procedure for paying the remaining part of the Service Price in equal monthly payments in accordance with the Schedule. The Installment Plan does not involve the accrual of interest.
1.9. Acceptance — the Client's acceptance of the terms of this Agreement by performing the actions described in Section 3. The Agreement is deemed concluded from the moment of acceptance.
1.10. Guarantor — a person who, at the request of the Financial Organization, assumes joint and several liability for the Client's timely payment for the Service. The Guarantor undergoes the same verification as the Client and accepts the Agreement separately.
1.11. Ta'widh — compensation for actual and documented expenses incurred by the Financial Organization in collecting overdue debt (legal expenses, notices, court fees, etc.). It is not a fine or interest for late payment.
1.12. Force Majeure — circumstances of insuperable force beyond the control of the parties (natural disasters, war, state prohibitions, etc.), confirmed in writing by an authorized body of the Republic of Kazakhstan.
2. Subject of the Agreement
2.1. In accordance with the terms of this Agreement, the Financial Organization acquires from the Partner the right to use the Service (usufruct) and transfers that right to the Client for the term specified in the Application. The Client accepts the Service and pays its price in installments in accordance with the Payment Schedule. If the Service is to be rendered to the Client in the future (after the conclusion of the Agreement), this Agreement operates as Ijara Mawsufa fi al-Dhimma (a lease of a future service under an obligation to provide it in accordance with its description).
2.2. This Agreement is not a credit or a loan. The Financial Organization does not transfer monetary funds to the Client — it provides the Client with the right to use the Service.
2.3. The Financial Organization concludes an agreement with the Partner only after the Client has submitted and confirmed the Application and AJR Finance has approved it. The Partner is not a party to this Agreement.
2.4. Applications for amounts up to 1,000,000 tenge are reviewed automatically; applications above 1,000,000 tenge and up to 2,000,000 tenge are reviewed with additional verification.
3. Procedure for Concluding the Agreement
3.1. To conclude the Agreement, the Client sequentially performs the following actions in the AJR mobile application:
- Undergoes video identification confirming identity and intent.
- Undergoes identification through the State Database of Individuals by entering an SMS code.
- Confirms agreement with the terms of the Agreement by entering a one-time password (OTP) sent to the Client's phone number.
- Pays the down payment in the amount specified in the Application.
3.2. The Agreement is deemed concluded at the moment all four steps are completed. The place of conclusion of the Agreement is the city of Astana, the territory of the AIFC.
3.3. If the Client does not confirm the Application within 24 hours from the time it is submitted, the Application is automatically cancelled and the Agreement is not deemed concluded.
3.4. All actions performed using the Client's account in the AJR application are deemed to be the Client's own actions.
4. Procedure for Providing the Service and Transfer of Rights
4.1. The Financial Organization notifies the Client that, as of the date of conclusion of the Agreement, AJR Finance has acquired from the Partner a transferable right to the usufruct (right of use) of the Service, recognized by Sharia and established by a binding agreement with the Partner, which:
(a) specifically identifies the Service itself and its material parameters;
(b) creates an unconditional obligation of the Partner to provide the Service, enforceable regardless of the Partner's financial standing or solvency and secured by contractual protection mechanisms reviewed and approved by the Sharia Supervisory Board of the Financial Organization;
(c) is, by its legal nature and consequences, sufficient for AJR Finance to properly transfer this usufruct to the Client in accordance with this Agreement.
4.2. The right to use the Service passes to the Client from the moment the Service objectively becomes available to be received. The readiness of the Service is confirmed by an electronic notice from the Partner through the AJR platform.
4.3. The Service is deemed available to the Client upon the simultaneous satisfaction of the following conditions:
(a) the Partner has confirmed to the Financial Organization, through the AJR Platform (with provision of objective evidence), that the Service is fully ready to be received;
(b) the Financial Organization has sent the Client a notice of the availability of the Service through the personal account of the AJR application or via confirmed contact details;
(c) the Client has been given not less than 5 (five) calendar days from the moment of notification to verify availability and raise any possible objections.
The risk of failure to receive the Service for reasons unrelated to the fault of the Financial Organization or the Partner passes to the Client only after all three of the above conditions have been satisfied.
4.4. The parameters of the Service (name, description, term of provision, place, price, payment schedule) are specified in the Application, which is an integral part of this Agreement. Changing the scope of the Service or its characteristics within the framework of the current Agreement is not permitted; additional services shall be arranged under a separate agreement.
4.5. Warranties of the Financial Organization
AJR Finance warrants that the acquired right to use the Service corresponds to the stated terms, is not encumbered by the rights of third parties, and is free of attachments and restrictions preventing its transfer to the Client.
4.6. If the Partner has failed to perform its obligations regarding the Service for reasons beyond the Client's control, the Financial Organization shall be liable to the Client. AJR Finance undertakes to return to the Client the amounts paid for the unrendered part of the Service, or to engage another Partner to provide a similar Service at no additional cost to the Client (with the Client's consent), or to terminate the Agreement with respect to the unrendered Service with a recalculation of payments.
4.7. The Client is not obliged to pay for the part of the Service that was not provided to him.
5. Price and Payment Procedure
5.1. The down payment is not less than 10% of the Service Price specified in the Application, and is paid by the Client by non-cash means to AJR Finance's account simultaneously with the acceptance of the Agreement. This payment is credited towards the total price of the Agreement and qualifies as an advance partial payment of the Ijara price.
No part of the Down Payment may be recognized as earned income (ujrah) of the Financial Organization until the fact of the Service's availability to the Client has been established (in accordance with clause 4.3 of this Agreement). The said payment is recognized as earned by AJR Finance only in proportion to the actual provision of the right to use (manfa'ah) the Service.
5.2. The remaining part of the Price is paid monthly in accordance with the Payment Schedule posted in the AJR mobile application. The Client independently initiates each payment — no automatic debiting is carried out without an explicit action by the Client.
5.3. The Payment Schedule reflects the deferral of payment of the ujrah (rent) agreed by the Parties. The term for payments under the Payment Schedule may be longer than the term of the actual provision of the Service (the installment plan continues after the Service is completed) or shorter (full payment is completed before the Service ends).
If the Service was not provided to the Client in full for reasons unrelated to the Client's fault, the ujrah relating to the unprovided (unreceived) part of the Service shall not be charged, and the Payment Schedule shall be subject to a proportionate adjustment. At the same time, the Client is obliged to fully perform its obligations under the Payment Schedule with respect to payment of the ujrah relating to the part of the Service that has already actually been provided and made available to the Client.
5.4. The amount of payments that have already become due may not be unilaterally increased, including in the event of late payment. The Financial Organization does not charge penalty interest or late fees for the mere fact of delay.
6. Refusal of the Service and Refund of Funds
6.1. If the Client refuses a One-time Service no later than 15 calendar days before the start of its provision, the Financial Organization shall refund the amounts paid less the actually incurred and documented expenses (booking, air tickets, materials, administrative expenses).
6.2. If the refusal occurs less than 15 calendar days before the start of the Service: the refund is made less all expenses actually incurred by the Financial Organization and the Partner. Lost profit (unearned income) shall not be withheld from the Client.
6.3. In the event of refusal of a Continuing Service after the commencement of its provision:
- The Client pays for the actually consumed part of the Service in proportion to the total price.
- For the unrendered part, the amounts paid are refunded less non-refundable actual expenses (training materials, books, already paid licenses, etc.).
- The remaining payments under the Schedule for the unrendered part shall be subject to adjustment by agreement of the parties.
6.4. In all cases, the Financial Organization and the Partner are entitled to withhold only actually incurred and documented expenses. No fines or penalties shall be charged for the refusal.
6.5. Rescheduling the Service to another date or transferring the right to use the Service to another person is possible only by prior agreement with the Partner and the Financial Organization.
The transfer of the right to use the Service to a third party does not release the original Client from his payment obligations under this Agreement, unless the Financial Organization expressly gives its written consent to the transfer of the debt to the new Client (assignee) and the full release of the original Client from further liability under the Payment Schedule.
7. Suretyship
7.1. At the request of AJR Finance, the Client shall engage a Guarantor, who assumes joint and several liability for the timely payment of the Service Price.
7.2. The Guarantor undergoes the same identification and verification procedures as the Client and accepts the Agreement separately — by video identification and entry of a one-time password (OTP) sent to the Guarantor's phone number.
7.3. If the Client violates the Payment Schedule, AJR Finance shall notify the Client through the AJR application or to the phone number specified at registration. The Client is obliged to repay the overdue amount within 7 calendar days. If the debt is not repaid, AJR Finance shall send a demand to the Guarantor, who is obliged to perform the obligation within 3 business days.
7.4. The suretyship remains in effect until the Client has fully performed all obligations under the Agreement.
8. Liability of the Parties
8.1. In the event of late payment, the Client shall reimburse AJR Finance for the actual and documented expenses of collecting the debt (Ta'widh): legal services, notices, collection agency services, court fees, notary fees and other possible expenses. No penalty interest shall be charged for late payment.
8.2. In the event of delay, AJR Finance is entitled to claim only the actually overdue payments — without early demand for the entire remaining amount. Collection may be carried out repeatedly as each new delay arises.
8.3. AJR Finance is liable for providing the Client with the right to use the Service in accordance with the terms of the Agreement. In the event of non-provision or improper provision of the Service by the Partner, AJR Finance bears liability to the Client in the manner provided for in Section 4.
8.4. Limitation period. A claim for breach of the Agreement may be brought within 6 years from the date the grounds for the claim arose.
9. Client's Consents
9.1. By accepting this Agreement, the Client and the Guarantor give AJR Finance the following consents:
- to the collection, processing and storage of personal data in accordance with the requirements of AIFC law and the legislation of the Republic of Kazakhstan on personal data.
- to obtaining personal data from the State Database of Individuals of the Republic of Kazakhstan for purposes of identification and verification.
- to the transfer of information about the Agreement and its performance to credit bureaus of the Republic of Kazakhstan, as well as to obtaining credit reports on the Client and the Guarantor.
- to the engagement, for the collection of overdue debt, of a collection agency included in the register of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, acting on behalf of AJR Finance. The right of claim against the Client is not assigned (sold) to third parties.
9.2. The Client and the Guarantor are obliged to notify AJR Finance of any change of phone number, email address and other contact information within 3 business days through the AJR application. Notices sent to the last known contact information shall be deemed duly delivered.
10. Claims and Dispute Resolution
10.1. Pre-trial procedure
Before applying to court, the Client shall send a written claim to AJR Finance at the email address info@ajr.kz. The review period is 10 business days. The Client is also entitled to use AJR Finance's internal complaint-handling procedure (period — up to 30 calendar days).
10.2. All disputes, disagreements or claims arising out of or in connection with this Agreement shall be finally settled in the Court of the Astana International Financial Centre (AIFC Court). The Parties agree that proceedings in the AIFC Court shall be conducted in the Russian language, and that the applicable substantive law shall be the law of the AIFC in force.
10.3. The law of the AIFC and the principles of Islamic finance shall apply to the merits of the dispute, and, to the extent not regulated thereby, the legislation of the Republic of Kazakhstan.
11. Term of the Agreement
11.1. The Agreement enters into force at the moment of the Client's acceptance and remains in effect until all parties have fully performed their obligations to pay for the Service.
11.2. By accepting the offer, the Client confirms that he has reviewed AJR Finance's Privacy Policy, accepts its terms, and agrees to the processing of his personal data.
11.3. On all matters not expressly regulated by this Agreement, the law of the AIFC shall apply, and, to the extent not regulated thereby, the legislation of the Republic of Kazakhstan and the principles of Islamic finance applicable to the Ijara model.
12. Details of the Financial Organization
Name: AJR Finance Limited
Registered address: AIFC territory, Republic of Kazakhstan, city of Astana, Yesil District, Mangilik El Avenue, building 55/23, block C4.4, office No. 338
License No. AFSA-A-LA-2026-0013 dated 15.06.2026, issued by the AIFC Financial Services Regulatory Committee for the conduct of regulated activities related to the provision of Islamic financing
Email: info@ajr.kz
Mobile application: AJR
Acceptance of this offer by the Client through video identification, entry of the OTP code and payment of the down payment is equivalent to a handwritten signature and gives rise to all legal consequences in accordance with the law of the Astana International Financial Centre and the applicable legislation of the Republic of Kazakhstan.