The Securities House KSCC ("TSH") is an investment company established in the State of Kuwait operating in compliance with the provisions of Islamic Shari’a, established in the State of Kuwait and subject to the supervision of the Capital Markets Authority (CMA) and licensed to provide the services stipulated herein. ZAD is an electronic service from the Company that provides clients with digital investment solutions that are tailored to demand and in compliance with the provisions of Islamic Shari’a through services. Investors should carefully consider the investment objectives and risks as well as charges and expenses of ZAD before investing.

Investment Risk Disclosure

Investing involves risks and the value of investments may go up or down. Past performance is no indication of future performance. Any projections and forecasts are based on a certain number of suppositions and assumptions concerning the current and future market conditions and there is no guarantee that the expected result will ultimately be achieved. Currency fluctuations may influence your returns. The performance figures provided in this document are based on simulated past performance which is not a reliable indicator of future performance.

The following risks should be considered carefully by clients before retaining ZAD services:

Market Risk: Investments are subject to market risks, read all scheme related documents carefully. The prices of securities may go up or down depending upon the factors and forces affecting the securities market including the Fluctuations in the interest rates. The past performance of the investments is not necessarily indicative of future performance of the schemes. TSH is not guaranteeing or assuring any dividend under any of the schemes and the same is subject to the availability and adequacy of distributable surplus. Investors are requested to obtain expert professional advice with regard to specific legal, tax and Financial implications of the investment/participation in the scheme.

Advisory Risk: There is no guarantee that TSH's judgment or investment decisions about particular securities or asset class will necessarily produce the intended results. TSH's judgment in selection may prove to be incorrect. TSH may also make future changes to the investing algorithms and advisory services that it provides. TSH may rely upon third parties to advise on the selection of ETFs under each asset class and the asset allocation.

Market Volatility Disclosure: Increased market volatility can result in record setting volume as well as extreme market conditions (sometimes called “fast markets” or “break out” market conditions). It is important for investors to understand the risks associated with such extreme market conditions. Technological advancements have enabled clients under normal market conditions to receive accurate real-time market data and to receive execution of their market orders almost immediately.

Under volatile market conditions, clients trading Internet or other volatile stocks may flood their brokers with orders and, in turn, the Exchanges may experience an extreme volume of orders, typically on the same side of the market (i.e., all buy or all sell orders). These extreme market conditions typically result in large order imbalances and systems backlogs, as well as delayed reporting and increased execution time.

During these volatile conditions, TSH. may implement special order handling procedures to maintain a fair and orderly market and thereby protect both the investor and the firm from market risk. While these procedures are designed to provide orderly execution of client orders in high volume environments, the result may be a significant delay in execution. These delays can cause a client’s market order to be executed at a price substantially different from that of the quote given at the time of order entry. Moreover, the executions of orders entered prior to your order can significantly move the market and effect the price at which your order will be executed.

Liquidity and Valuation Risk: The values quoted for any particular investment are indicative only and are subject to change. Past performance should not be taken as an indication or guarantee of future performance and no representation or warranty, express or implied, is made regarding future performance. Opinions and/or estimates reflect a judgment at the original date of publication by us and are subject to change without notice.

The price, value and income from any of the securities or Financial instruments mentioned can fall as well as rise. Foreign currency-denominated securities and Financial instruments are subject to fluctuations in exchange rates that may have a positive or adverse effect on the value, price or income of such securities or financial instruments. Investors in securities, the values of which are influenced by currency volatility, effectively assume this risk. Where the information contains consolidated data across multiple accounts, it may not have been reconciled with the records held by your custodian(s) and therefore should not be relied on as a definitive record of your holdings or their value. It is intended for information purposes only, not to replace a custodial or periodic statement. Securities are ordinarily valued at mid-market prices or yields as at end of the specified valuation day. Equity prices are as at close of business on the valuation day or most recently available price. Where prices for the same security vary at different price sources, TSH maintains the right to choose which pricing source to rely on.

Where, in the opinion of TSH, an investment is not readily realizable then it shall be valued at such fair valuation as may be determined on each occasion by TSH. It may be difficult to deal in any such investment or to obtain reliable information about its value from an independent source and therefore the valuation determined by TSH may not be the precise value at which the investment may be sold. Security pricing may vary from actual liquidation value and custodial statements. Prices shown should only be used as a general guide to portfolio value.

Credit Risk: Clients should be aware that adverse economic consequences may result in impaired credit rating, default, bankruptcy or insolvency any of which may affect portfolio values or its management and that such risk is beyond the control of TSH. This risk applies to assets held with any broker utilized by TSH notwithstanding segregation of assets and insurance requirements that would in most cases apply to the beneKit of the client. In addition, exchange trading venues or trade settlement and clearing intermediaries could experience adverse events that may temporarily or permanently limit trading or adversely affect the value of client’s securities. Finally, any issuer of securities may experience a credit event that could impair or erase the value of the issuer’s securities held by a client.

Legislative and Tax Risk: The law is constantly changing, and the information may not be complete or accurate depending on your particular interest. These changes may have a direct or indirect impact on performance with respect to any securities. TSH does not engage in financial or tax planning and client may incur taxes on his / her investments and be required to pay the tax due.

Foreign Investing and Emerging Markets Risk:

  • Political risk. Emerging markets may have unstable, even volatile, governments. Political unrest can cause serious consequences to the economy and investors.
  • Economic risk. These markets may often suffer from insufficient labor and raw materials, high inflation or deflation, unregulated markets and unsound monetary policies. All of these factors can present challenges to investors.
  • Currency risk. The value of emerging market currencies compared to the dollar can be extremely volatile. Any investment gains can be potentially lessened if a currency is devalued or drops significantly.

In addition, foreign investing may involve less publicly available information and more volatile or less liquid securities markets, particularly markets that trade a small number of securities, have unstable governments or involve limited industry. Investments in foreign countries may be affected by factors such as restrictions on receiving the investment proceeds form a foreign country, foreign tax laws or tax withholding requirements, unique trade clearance or settlement procedures and potential difficulties in enforcing contractual obligations or other legal rules that jeopardize shareholder protection. Foreign accounting may be less transparent than international accounting practices and foreign regulation may be inadequate or irregular.

ETF Risk including net asset valuations and tracking error: ETF performance may not exactly match the performance of the index or market benchmark that the ETF is designed to track because 1) the ETF will incur expenses and transaction costs not incurred by any applicable index or market benchmark; 2) certain securities comprising the index or market benchmark tracked by the ETF may, from time to time, temporarily be unavailable; and 3) supply and demand in the market for either the ETF and/or for the securities held by the ETF may cause the ETF shares to trade at a premium or discount to the actual net asset value of the securities owned by the ETF. Certain ETF strategies may from time to time include the purchase of fixed income, commodities, foreign securities, American Depositary Receipts, or other securities for which expenses and commission rates could be higher than normally charged for exchange traded equity securities, and for which market quotations or valuations may be limited or inaccurate.

Termination and Suspension of Access to this Website: TSH reserves the right to deny you access to this website, or immediately to suspend or terminate your access to this website, or to disable any user identification code or password (whether chosen by you or allocated by us) at any time if your use of this website (in our sole discretion) in any manner breaches these terms or for any other reason.


The information, opinions, tools, and materials contained in this website (the "Content") are not addressed to, or intended for publication, distribution to, or use by, any individual or legal entity who is a citizen or resident of or domiciled in any jurisdiction where such distribution, publication, availability, or use would constitute a breach of the laws or regulations of such jurisdiction or that would require The Securities House KSCC ("TSH") or its parent company, its subsidiaries or its affiliates to obtain licenses, approvals, or permissions from the regulatory bodies or authorities of such jurisdiction. No part of this document may be reproduced or transmitted for any purpose, in any form or by any means, electronic or mechanical, including photocopying, photography, microfilm, magnetic tape, floppy disk, or any other electronic means, without the express written permission of the copyright owner or his legal representatives.

The Content is provided for general circulation and promotional purposes only. No representation or warranty, express or implied, is given by TSH or any of its respective directors, partners, officers, affiliates, employees, advisors, or representatives that the investment referred to in this document is suitable for you or for any particular investor. Some statements included express opinions that should not be construed as a financial advice.

The information and opinions contained on this website have been obtained or derived from sources that TSH believes are reliable without being independently verified as to their accuracy or completeness. Opinions and statements of financial market trends that are based on current market conditions constitute our judgment and are subject to change without notice. We believe the information provided here is reliable but should not be assumed to be accurate or complete. The views and strategies described may not be suitable for all investors; however, TSH gives no representations or warranty, express or implied, as to the accuracy or completeness of the content. Additional information may be available upon request.

TSH accepts no liability for any direct, indirect, or consequential loss arising from the use of the content. This website is not to be relied upon as a substitution for the exercise of independent judgment. In addition, TSH may have issued, and may in the future issue, other websites or reports that are inconsistent with and reach different conclusions from the information presented on this website. Those reports reflect the different assumptions, views, and analytical methods of the analysts who prepared the reports, and TSH is under no obligation to ensure that such other reports are brought to your attention.

The value of any investment or income may fall as well as rise, and you may not get back the full amount invested. Where an investment is denominated in a currency other than the local currency of the recipient of the document, changes in the exchange rates may have an adverse effect on the value, price, or income of that investment. In the case of investments for which there is no recognized market, it may be difficult for investors to sell their investments or to obtain reliable information about their value or the extent of the risk to which they are exposed. Investors should consider these risks before investing: There is no guarantee that the investment objective will be achieved. ETF prices may fall or fail to rise for several reasons, including and not limited to general financial market conditions, changing market perceptions of the risk of default and issuer-specific events. These factors may also lead to periods of high volatility and reduced liquidity in the ETF markets.

TSH undertakes that no necessary information about the investment subject of this document has been omitted.

Data is provided by financial exchanges and may be delayed by financial exchanges or our data providers. TSH does not verify any data and disclaims any obligation to do so. TSH, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither TSH nor any of our information providers will be liable for any damages relating to your use of the information provided herein. As used here, “business partners” does not refer to an agency, partnership, or joint venture relationship between ZAD and any such parties.

Either ZAD or its third-party data or content providers have exclusive proprietary rights in the data and information provided.

Unless otherwise specified, all return figures shown are for illustrative purposes only, and are not actual customer or model returns. Actual returns will vary greatly and depend on personal and market circumstances.

Indemnity. You undertake to indemnify and hold TSH harmless from and against all or any claims, actions, liabilities, demands, proceedings or judgments ("Proceedings") brought or established against TSH and against all losses and all reasonable costs, charges and expenses (including legal fees) which TSH may suffer or incur (including, but not limited to, all such losses, costs, charges or expenses reasonably suffered or incurred in disputing or defending any Proceedings and/or in establishing its right to be indemnified and/or in seeking advice in relation to any Proceedings) and which in any such case arise in connection with or out of any breach or alleged breach by you of any of your obligations and/or undertakings under these terms.

This does not exclude or restrict any duty or liability that we have to our customers under the regulatory system in Kuwait.

Data protection policy. TSH stores, electronically or otherwise, only that data which is needed for the execution of its services. No visitor to this site will be required to provide any personal information. By submitting personal data though the site, the visitor agrees to the contents of this personal data protection policy and accepts the conditions set out in it. Visitors are aware that some data may be kept temporarily in the memory or on their software, in particular to make the navigation of this site easier. Visitors allow TSH to do this.

TSH has at its disposal the appropriate techniques and processes to ensure the confidentiality of these data. TSH would remind visitors that the confidentiality of correspondence cannot be guaranteed over the Internet. The personal data provided by visitors are confidential and shall under no circumstances be transmitted to third parties without the visitors' prior approval and in compliance with Kuwait’s laws.

The personal data provided by visitors are confidential and shall under no circumstances be transmitted to third parties without the visitors' prior approval and in compliance with Kuwait’s laws.