Abu Dhabi - Al Maryah Community Bank announced the launch of its new digital service for issuing an investor number in the Dubai Financial Market (DFM) through its application Mbank UAE, whereby new DFM investors will be able to obtain a new investor number and immediately participate in the IPO opportunities through Al Maryah community bank application.

The launch of this feature was driven by the keen vision of Mbank to support its customers and to provide an exceptional experience for digital subscription easily in the initial public offering of Dubai Electricity and Water Authority through the Mbank UAE application, during the subscription period from Thursday 24 March 2022 to April 2, 2022, and with a subscription of minimum AED 5,000 and a guarantee of allocating at least of 1,000 shares.

Al Maryah Community Bank also provides the investors with the opportunity to leverage their investment up to five times, as well as to benefit from the opportunity to invest for their children in DEWA's IPO using the “Eyalna” accounts from Mbank.

Al Maryah Community Bank, as a receiving bank, enables its customers to conveniently participate in the subscription through its banking application within a few minutes, without the need to visit the bank or submit paper transactions, in addition to its other digital services.

The digital investment services from Al Maryah Community Bank contribute to the development and support of capital markets and the strengthening of various sectors of the economy, with its modern technological solutions aimed at digital transformation and the prosperity of investment markets.

Mr. Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, expressed his gratitude for the efforts of the Dubai Financial Market to support banking digitization and enhance its role in the local community, saying: “Through this event, we are pleased to extend our thanks and appreciation to the Dubai Financial Market for their vital role and contribution in supporting and developing the digital transformation in the banking industry, which we seek to achieve through the pioneering solutions provided by Al Maryah Community Bank to its customers, striving for excellence by innovative and world-class banking services, in order to achieve the happiness and well-being of Mbank’s customers and ensure meeting the banking needs of the community and support economic and strategic growth in the United Arab Emirates”.

Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “We are delighted to cooperate with Al Maryah Community Bank in this launch of its new digital platform that enhances investors’ experience as they are increasingly attracted to DFM in terms of both trading activity and participation in the upcoming IPOs. At DFM, we are fully committed to collaborate with leading financial institutions, including Al Maryah Community Bank, to launch unique and proactive digital transformation initiatives as part of our relentless efforts to ensure seamless access to opportunities available on the market.”

In his part, Anas Hussain, Head of the Retail Banking Group and Financial Services Department, stressed: “Upgrading banking services to an unprecedented level is a challenge that Al Maryah Bank is committed to as part of its endeavor to lead the digital transformation in the banking services arena, starting with opening a bank account within minutes using the digital identity, UAE PASS, and without the need to go through any paper transactions, as well as to provide exceptional banking and investment services.”

Al Maryah Community Bank, the first integrated digital bank in the United Arab Emirates, contributes through its distinguished banking services to the development of financial awareness among all segments of society as part of the bank’s social responsibility, including empowering children’s financial management skills and encouraging savings through its “Eyalna” minor bank accounts, debit cards, and the annual rewards program for minors' accounts.

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