DFM ‘myAccount’ e-service for dividend distribution

By DG Staff

Image courtesy Reuters-Wam

DUBAI 12 September 2019: The Dubai Financial Market (DFM), yesterday 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 the 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.”

Ali Al Hashimi, DFM Executive Vice President and Head of Financial Services Division, 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.

“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 thousand investors wherever they are and whenever they want,” he added.

Dubai Gazette