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DFM launches innovative dividends distribution solution for investors

DFM launches innovative dividends distribution solution for investors
myAccount enables investors to pay for IPOs and right issues subscription

Dubai - Mubasher: The Dubai Financial Market (DFM) on Wednesday has launched ‘myAccount’ service as part of its strategy to offer smart and efficient solutions to investors.

Through the new service, market participants will be able to transfer dividends amounts to their iVESTOR Card accounts and bank accounts, according to a press release.

The newly launched electronic account solution also enables investors to pay for initial public offerings (IPOs) and right issues subscription.

Essa Kazim, chairman of DFM said: “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,” he added.

In the same vein, Ali Al Hashimi, executive vice president and head of financial services division of DFM, said that the exchange has carried out nearly 1.3 million transactions to the new electronic accounts with a total value of AED 1 billion.

myAccount strengthens the leading position of the DFM in terms of Financial Technologies (FinTech), mainly the cash dividends distribution service the exchange offers since 2011 in a leading step globally.