Dubai – Mubasher: The Dubai Financial Market (DFM) on Monday announced the launch of an innovative dividend distribution system (DDS).

DDS aims to provide the market participants with the state-of-the-art solutions and boost the digital transformation vision, according to the DFM's statement.

Through the new electronic system, the DFM will distribute the dividends to investors’ bank account or iVESTOR card account without any human intervention.

“The new system creates a comprehensive and constantly updated databank in order to distribute dividends to investors without human intervention,” chief operating officer Maryam Fikri said.

 Funds are automatically distributed once an investor selects his preferred way of receiving the dividends, the statement showed.

“The DFM has pioneered numerous solutions that changed the way of service provision in the capital markets sector,” Fikri, who doubles as head of clearing, added.