PHOTO
- E. Essa Kazim: “The DFM’s strategy focuses on innovation and employing advanced financial technologies to provide customers with smart solutions in line with the leadership’s vision”
- Ali Al Hashimi: “The DFM implemented 1.3 million transactions to investors’ electronic accounts with a total value of AED 1 billion”
Dubai: As part of its strategy to provide market participants with smart and efficient solutions in line with the leadership’s digital transformation vision, the Dubai Financial Market (DFM) today launched “myAccount” service, an electronic account that enables investors to seamlessly transfer dividends amounts to their iVESTOR Card accounts, bank accounts as well as to pay for IPOs and Right Issues subscription.
The new solution reinforces the DFM’s leading position in terms of Financial Technologies (FinTech), particularly the cash dividends distribution service the DFM provides since 2011 in a leading step globally.
Commenting on this, His Excellency Essa Kazim, Chairman of DFM said, “The DFM’s strategy focuses on development and innovation as well as employing advanced FinTech to provide customers with smart solutions in line with the leadership’s vision on smart services and digital transformation. Accordingly, our constant efforts in this field have completely changed ways of service provision in capital markets sector. Today, we are pleased to launch the “myAccount” service crowning our journey of excellence, as we are currently running one of its kind all-inclusive dividend distribution platform amongst financial markets globally. Undoubtedly, such efforts and investments underline our commitment to build upon foregoing successes in order to achieve highest levels of customers’ satisfaction, strengthen the leading position of DFM in terms of investor services as well as fortify Dubai’s position as global center of excellence in various sectors with financial services and capital markets at the forefront.”
“The DFM has successfully amassed notable capabilities in terms of cash dividends distribution services, as the new “myAccount” electronic service has been designed and implemented internally by our comprehensive specialized team,” Ali Al Hashimi, Executive Vice President and Head of Financial Services Division of DFM said.
“The DFM has executed 1.3 million transactions to the new electronic accounts with a total value of AED 1 billion. Henceforth, investors can access their accounts and directly transfer to iVESTOR card accounts, bank accounts or use the account balance to take part in any IPOs and Right Issues implemented on the market. Certainly, the new service alongside our previous initiatives such as the launch of the iVESTOR Card, the Dividend Distribution System (DDS) and the iVESTOR Card Control solution led to significant leap in customers’ experience, making cash dividends at the fingertips of DFM’s enormous and diversified investor base that exceeds 844 thousand investors wherever they are and whenever they want,” Al Hashimi added.
-Ends-
About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 Billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
For media inquiries, please contact:
Atef Fathy
Vice President- Head of Media & Public Relations
Dubai Financial Market
Tel: 04-3055334
Email: afathy@dfm.ae
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
