This Statement is made by The Hongkong and Shanghai Banking Corporation Limited ('the Bank') in accordance with the Laws of the Republic of Maldives. The Statement is intended to notify you why personal data is collected, how it will be used and to whom data access requests are to be addressed.
a. Why we collect your data - we collect your personal information to carry out and administer our services to you and in an effort to improve your customer experience. Without such data the Bank may be unable to open or continue accounts or establish or continue banking facilities or provide banking services.
b. Data is also collected from customers in the ordinary course of business to continue the banking relationship, for example, when customers write cheques or deposit money.
c. How your data may be used - Data relating to a customer may be used to:
i.Facilitate the daily operation of the services and credit facilities provided to customers;
ii. conduct credit checks;
iii. assist other financial institutions to conduct credit checks and collect debts;
iv. ensure ongoing credit worthiness of customers;
v. design financial services or related products for customers' use;
vi. market financial services or related products;
vii. determine the amount of indebtedness owed to or by customers;
viii. collect amounts outstanding from customers and those providing security for customers' obligations;
ix. meet the disclosure requirements of any law binding on the Bank or any of its branches;
x. enable an actual or proposed assignee of the Bank, or participant or sub-participant of the Bank's rights in respect of the customer to evaluate the transaction intended to be the subject of the assignment, participation or sub-participation; and
xi. to fulfil any other purposes relating thereto.
d. Disclosure of your personal information - Information held by the Bank relating to a customer will be kept confidential but the Bank may provide such information to the following parties for the purposes set out in paragraph (c):
i. any agent, contractor or third party service provider who provides administrative, telecommunications, computer, payment or securities clearing or other services to the Bank in connection with the operation of its business;
ii. any other person under a duty of confidentiality to the Bank including a group company of the Bank which has undertaken to keep such information confidential;
iii. the drawee bank providing a copy of a paid cheque (which may contain information about the payee) to the drawer;
iv. credit reference agencies, and, in the event of default, to debt collection agencies;
v. any person to whom the Bank is under an obligation to make disclosure under the requirements of any law binding on the Bank or any of its branches; and
vi. any actual or proposed assignee of the Bank or participant or sub-participant or transferee of the Bank's rights in respect of the customer.
e. Data access requests - under the Laws of the Republic of Maldives, any individual has the right:
i. to check whether the Bank holds data about them and of access to such data;
ii. to require the Bank to correct any data relating to them which is inaccurate;
iii. to ascertain the Bank's policies and practices in relation to data and to be informed of the kind of personal data held by the Bank; and
iv. in relation to consumer credit, to request to be informed which items of data are routinely disclosed to credit reference agencies or debt collection agencies, and be provided with further information to enable the making of an access and correction request to the relevant credit reference agency or debt collection agency.
f. In accordance with the Laws of the Republic of Maldives, the Bank has the right to charge a reasonable fee for the processing of any data access request.
g. Nothing in this Statement shall limit the rights of customers under the Laws of the Republic of Maldives.
