Privacy Notice: Business Partners
Last updated: 16th December 2020
The Olayan Group respects your right to privacy. This Privacy Notice explains who we are, how we collect, share and use personal information about you, and how you can exercise your privacy rights. This Privacy Notice only applies to our business partners.
If you have any questions or concerns about our use of your personal information, please contact us using the contact details provided at the bottom of this Privacy Notice.
What does The Olayan Group do?
The Olayan Group is a private multinational enterprise, an international investor and a diverse commercial and industrial concern with offices in Saudi Arabia, Europe, and the US. The Olayan Group’s global investment team focuses on public and private equities, real estate, fixed income securities, and other specialised assets.
The commercial side of The Olayan Group comprises more than 40 companies and is centred in Saudi Arabia, where The Olayan Group originated in 1947. They are engaged in distribution, manufacturing, and services. Many of these companies operate in partnership with leading multinational or regional firms. Some have operations in other Gulf countries and the wider Middle East.
What personal information does The Olayan Group collect and why?
When considering a new business relationship, we take time to ensure that we have a thorough knowledge of our potential partners. The types of due diligence we undertake are common among investment firms. The personal information that we may collect about you broadly falls into the following categories:
Information that you provide voluntarily
You may be asked to provide personal information voluntarily: for example, we may ask you to provide your contact details in order to communicate with you as a business partner, a potential business partner, associate, or other relevant person such as an authorised representative.
Depending on the nature of our relationship with you, we may ask you to provide include information about you as an individual, your employment, financial associates, your finances and the finances of any business you run. We may also keep copies of our correspondence with you.
Information that we obtain from third party sources
During due diligence, we may collect further information about you from third party sources (including strategic advisory firms, risk consulting firms, providers of business intelligence, compliance, cyber defence and investigations services, public information sources such as Companies House or Government or law enforcement agencies or information from social media sites which is relevant to your professional activities).
The types of information we collect from third parties may vary depending on your business. We use the information we receive from these third parties to ensure we have and maintain accurate records about you.
Who does The Olayan Group share my personal information with?
We may disclose your personal information to the following categories of recipients:
to our group companies, third party services providers and partners who process personal information for purposes that are described in this Privacy Notice
to any competent law enforcement body, regulatory, government agency, court or other third party where we believe disclosure is necessary (i) as a matter of applicable law or regulation, (ii) to exercise, establish or defend our legal rights, or (iii) to protect your vital interests or those of any other person;
to any other person with your consent to the disclosure.
Legal basis for processing personal information
Our legal basis for collecting and using the personal information described above will depend on the personal information concerned and the specific context in which we collect it.
However, we will normally collect personal information from you only (i) where the processing is in our legitimate interests and not overridden by your rights, or (ii) where we have your consent to do so. In some cases, we may also have a legal obligation to collect personal information from you.
If we ask you to provide personal information to comply with a legal requirement, we will make this clear at the relevant time.
If we collect and use your personal information in reliance on our legitimate interests (or those of any third party), this interest will normally be to conduct due diligence checks. We may have other legitimate interests and if appropriate we will make clear to you at the relevant time what those legitimate interests are.
If you have questions about or need further information concerning the legal basis on which we collect and use your personal information, please contact us using the contact details provided under the “How to contact us” heading below.
How does The Olayan Group keep my personal information secure?
We use appropriate technical and organisational measures to protect the personal information that we collect and process about you. The measures we use are designed to provide a level of security appropriate to the risk of processing your personal information.
International data transfers
Your personal information may be transferred to, and processed in, countries other than the country in which you are resident. These countries may have data protection laws that are different to the laws of your country.
Specifically, our website servers are located in the US, and our group companies and some third party service providers and partners operate in the US, Luxembourg, the UK, Liechtenstein, Austria, Greece, Saudi Arabia and Singapore and in other countries around the world. This means that when we collect your personal information we may process it in those locations and across the globe.
However, we have taken appropriate measures to require that your personal information will remain protected in accordance with this Privacy Notice. These include implementing the European Commission’s Standard Contractual Clauses for transfers of personal information between our group companies, which require all group companies to protect personal information they process from the EEA or the UK in accordance with European Union or UK data protection law.
We retain personal information we collect from you where we have an ongoing legitimate business need to do so.
When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymise it or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
Your data protection rights
EU and UK data protection law confer the following rights on individuals:
If you wish to access, correct, update or request deletion of your personal information, you can do so at any time by contacting us using the contact details provided under the “How to contact us” heading below.
In addition, you can object to processing of your personal information, ask us to restrict processing of your personal information or request portability of your personal information. Again, you can exercise these rights by contacting us using the contact details provided under the “How to contact us” heading below.
Similarly, if we have collected and process your personal information with your consent, then you can withdraw your consent at any time. Withdrawing your consent will not affect the lawfulness of any processing we conducted prior to your withdrawal, nor will it affect processing of your personal information conducted in reliance on lawful processing grounds other than consent.
You have the right to complain to a data protection authority about our collection and use of your personal information. For more information, please contact your local data protection authority.
We respond to all requests we receive from individuals wishing to exercise their data protection rights in accordance with applicable data protection laws.
Updates to this Privacy Notice
We may update this Privacy Notice from time to time in response to changing legal, technical or business developments. When we update our Privacy Notice, we will take appropriate measures to inform you, consistent with the significance of the changes we make. We will obtain your consent to any material Privacy Notice changes if and where this is required by applicable data protection laws.
You can see when this Privacy Notice was last updated by checking the “last updated” date displayed at the top of this Privacy Notice.
How to contact us
If you have any questions or concerns about our use of your personal information, please contact us using the following details: OICEcompliance@olayangroup.com.
The data controller of your personal information is Olayan Investments Company Establishment.