Saturday 26 September 2020

Essa Kazim

DFM launches e-service for dividend payout

DUBAI, September 12, 2019

The Dubai Financial Market (DFM) has launched the "myAccount" service, an electronic account that enables investors to transfer dividend amounts to their iVESTOR Card accounts, bank accounts, as well as to pay for IPOs and right issues subscription.

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 the capital markets sector. Today, we are pleased to launch the myAccount service, crowning our journey of excellence, as we are currently running a one-of-its-kind, all-inclusive dividend distribution platform amongst financial markets globally."

Ali Al Hashimi, executive vice president and head of Financial Services Division of DFM, said: "The DFM has successfully amassed notable capabilities in terms of cash dividend distribution services, as the new myAccount electronic service has been designed and implemented internally by our comprehensive specialised team."

The DFM, Al Hashimi said, has executed 1.3 million transactions to the new electronic accounts with a total value of Dh1 billion ($272 million).

"Certainly, the new service alongside our previous initiatives such as the launch of the iVESTOR Card, the Dividend Distribution System and the iVESTOR Card Control solution led to a significant leap in customer experience, ensuring cash dividends are at the fingertips of the DFM’s enormous and diversified investor base that exceeds 844,000 investors wherever they are and whenever they want," he added. – TradeArabia News Service


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