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Privacy Policy

1. Who We Are

Ruby Finance ("we", "us", "our") is a cross-border payment service provider operating in the United Republic of Tanzania. We are committed to protecting the personal data of our clients, business representatives, and website visitors in accordance with the Personal Data Protection Act, 2022 ("PDPA 2022") of Tanzania and applicable Bank of Tanzania (BOT) regulations.

Our registered address is: Amverton Office Park, Lugalo St, Upanga, Office 201, Dar es Salaam, Tanzania. Contact: clients@ruby.tz

2. Data We Collect

We collect the following categories of personal data:

• Identity data — full name, nationality, date of birth, government-issued identification (passport, national ID, TIN)
• Contact data — email address, telephone number, physical or postal address
• Corporate data — company name, registration number, business licence, director and beneficial owner information
• Transaction data — payment amounts, currencies, beneficiary details, SWIFT references, supporting invoices
• KYC / AML data — source of funds declarations, politically exposed person (PEP) status, sanctions screening results
• Communication records — emails, WhatsApp messages, and enquiry form submissions
• Technical data — IP address, browser type, and access timestamps when you visit our website

3. Purposes and Legal Basis

We process your personal data for the following purposes and on the following legal bases:

• Identity verification and KYC / AML checks — legal obligation (Anti-Money Laundering Act, 2006; Financial Intelligence Unit Act, 2012)
• Executing payment instructions — performance of contract
• Regulatory reporting to the Bank of Tanzania and Financial Intelligence Unit — legal obligation
• Account management and client communications — legitimate interest
• Fraud detection and prevention — legitimate interest and legal obligation
• Website analytics and service improvement — legitimate interest

4. Sharing of Personal Data

We may share your personal data with:

• Correspondent banks and international payment networks required to execute your transactions
• The Financial Intelligence Unit (FIU) of Tanzania, the Bank of Tanzania, the Tanzania Revenue Authority (TRA), or other competent authorities when required by law
• Sanctions screening databases (OFAC, UN, EU, UK HM Treasury lists)
• Identity verification and compliance service providers acting as our data processors under strict contractual agreements
• Our IT infrastructure and cloud service providers, bound by data processing agreements

We do not sell, rent, or trade personal data to any third party for commercial purposes.

5. Cross-Border Data Transfers

Executing international payments necessarily requires transmitting certain data (beneficiary name, account details, payment amounts) to banks and payment intermediaries in other countries. We ensure such transfers are made only to the extent required for payment execution and that all receiving institutions are subject to equivalent obligations of confidentiality.

6. Data Retention

Transaction records, KYC documents, and AML files are retained for a minimum of seven (7) years from the date of the last transaction, as required by Section 16 of the Anti-Money Laundering Act, 2006. Other personal data is held only as long as necessary for the purpose for which it was collected, after which it is securely deleted or anonymised.

7. Your Rights Under the PDPA 2022

Under the Personal Data Protection Act, 2022, you have the right to:

• Request access to your personal data held by us
• Request correction of inaccurate or incomplete data
• Request erasure of data where no legal obligation requires its retention
• Object to processing based on legitimate interests
• Lodge a complaint with the Personal Data Protection Commission (PDPC) of Tanzania

To exercise any of these rights, please write to us at clients@ruby.tz. We will respond within 30 days.

8. Security

We implement appropriate technical and organisational measures to protect personal data against unauthorised access, disclosure, alteration, or destruction. Access to client data is strictly limited to authorised personnel who require it in the course of their duties.

9. Cookies

Our website uses only functional session cookies necessary for the operation of the site. We do not use advertising, tracking, or third-party analytics cookies. No consent is required for strictly necessary cookies under Tanzanian law.

10. Changes to This Policy

We may update this Privacy Policy from time to time to reflect changes in our practices or in applicable law. The current version and its effective date are always published on this page. Continued use of our services after a revision constitutes acceptance of the updated Policy.

11. Contact

For any data protection enquiries, please contact:
Ruby Finance · clients@ruby.tz
Amverton Office Park, Lugalo St, Upanga, Office 201, Dar es Salaam, Tanzania

Terms of Use

1. Acceptance of Terms

By registering an account or using any service provided by Ruby Finance, you agree to be bound by these Terms of Use ("Terms"). If you do not agree, you must not use our services. These Terms constitute a legally binding agreement under the Law of Contract Act (Cap. 345 R.E. 2019) of the United Republic of Tanzania.

2. About Ruby Finance

Ruby Finance is a cross-border payment service provider registered and operating in the United Republic of Tanzania. We facilitate international transfers on behalf of Tanzanian-registered businesses and their authorised representatives. Our operations comply with:

• Payment Systems Act, 2015
• Foreign Exchange Act, 1992 and the Foreign Exchange Regulations, 2015
• Anti-Money Laundering Act, 2006 (as amended in 2012 and 2019)
• Bank of Tanzania Act, 2006 and applicable BOT directives
• Electronic Transactions Act, 2015
• Consumer Protection Act, 2008

3. Eligibility

Our services are available exclusively to:

• Legally registered companies and businesses in Tanzania holding a valid Business Registration Certificate or equivalent
• Sole traders with a valid Tax Identification Number (TIN) issued by the Tanzania Revenue Authority (TRA)
• Authorised representatives acting on behalf of eligible entities

By registering, you confirm that you have full legal authority to enter into binding agreements on behalf of your business, and that your business and its activities are lawful under Tanzanian law.

4. Account Registration & KYC / AML Compliance

Opening an account requires the successful completion of our Know Your Customer (KYC) process, which includes:

• Certificate of Incorporation or Business Registration Certificate
• TIN certificate from the Tanzania Revenue Authority
• Valid business licence
• Identification documents (passport or national ID) for all directors and beneficial owners
• Declaration of source of funds
• Any additional documentation we may reasonably request

5. Services Provided

Ruby Finance provides:

• Cross-border payment execution to suppliers and counterparties in China, UAE, Europe, and other destinations
• Currency exchange at rates confirmed at the time of transaction execution
• Payment tracking and SWIFT MT103 confirmation
• Compliance documentation for each transaction

Ruby Finance does not provide investment advice, asset management, deposit-taking, lending, or retail banking services.

6. Transaction Terms

• All payment instructions must be accompanied by valid supporting documentation, including a commercial invoice, pro-forma invoice, or equivalent
• Transactions are processed on a best-efforts same-business-day basis, subject to cut-off times, public holidays, and correspondent bank schedules
• Exchange rates shown on our website are indicative only. The rate applied to your transaction is the rate confirmed at the time of execution
• Our service fee is included within the rate spread and disclosed prior to confirmation of each transaction
• Completed transactions cannot be reversed. Errors in beneficiary details (account number, SWIFT/BIC code, beneficiary name) provided by the client are the sole responsibility of the client
• All transactions are executed in compliance with Bank of Tanzania foreign exchange regulations and applicable import payment procedures

7. Exchange Rates & Fees

Indicative exchange rates are published on our website and updated daily. The firm rate applicable to your transaction will be confirmed at the time of instruction and may differ from the indicative rate. All fees are included in the spread and disclosed transparently before you confirm any transaction. Ruby Finance does not charge separate wire transfer or processing fees.

8. Prohibited Uses

You must not use our services to:

• Finance, facilitate, or conceal activities connected to money laundering, terrorism financing, or proliferation financing as defined under the Anti-Money Laundering Act, 2006 and the Counter-Terrorism Act, 2002
• Circumvent foreign exchange controls or directives issued by the Bank of Tanzania
• Make payments to persons or entities listed on applicable sanctions lists (OFAC, United Nations, European Union, UK HM Treasury)
• Process personal remittances — our services are available to registered businesses only
• Submit false or misleading documentation in connection with any transaction
• Engage in any activity that violates Tanzanian law or applicable international financial regulations

9. Disclaimer & Limitation of Liability

Ruby Finance shall not be liable for:

• Delays caused by correspondent banks, clearing systems, public holidays, or force majeure events
• Financial losses arising from incorrect beneficiary information provided by the client
• Exchange rate movements between the time of instruction and the time of execution
• Suspension of services required by regulatory or legal obligation

Our aggregate liability to any client in respect of any claim shall not exceed the value of the transaction giving rise to that claim. Nothing in these Terms limits our liability for fraud or wilful misconduct.

10. Intellectual Property

All content on this website — including text, graphics, logos, and software — is the property of Ruby Finance and is protected under applicable intellectual property laws. No content may be reproduced, distributed, or used for commercial purposes without our prior written consent.

11. Amendments

We may update these Terms at any time. We will notify registered clients of material changes by email. Continued use of our services after the effective date of any revision constitutes acceptance of the updated Terms. The current version and effective date are always published on this page.

12. Governing Law & Dispute Resolution

These Terms are governed by and construed in accordance with the laws of the United Republic of Tanzania. In the event of a dispute, the parties shall first attempt to resolve the matter through good-faith negotiation. If unresolved within 30 days, either party may refer the dispute to mediation in accordance with the Arbitration Act (Cap. 15 R.E. 2019). If mediation fails, disputes shall be submitted to the exclusive jurisdiction of the courts of Dar es Salaam, Tanzania.

13. Contact

For any questions regarding these Terms:
Ruby Finance · clients@ruby.tz
Amverton Office Park, Lugalo St, Upanga, Office 201, Dar es Salaam, Tanzania