- Fully digital platform to support investor participation ahead of upcoming listings on DFM
- Individual investors to benefit from seamless, paperless journey from subscription to payment
- Real-time on-boarding of individual investors through strategic collaboration with DFM
Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region has taken the lead in supporting upcoming IPOs on the Dubai Financial Market (DFM) with the launch of an end-to-end IPO subscription website for individual investors.
The initiative is aligned to the recent announcement by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE on the listing of 10 government-owned companies on the Dubai Financial Market (DFM) as part of a broader strategy to expand the financial market’s capitalisation to AED 3 trillion (USD 816.8 billion).
Seamless payment facilities:
Emirates NBD’s IPO platform has built-in real time subscription payment capabilities for UAE investors and wire transfer capabilities for non-UAE investors. This further enhances existing digital IPO subscription facilities offered through Emirates NBD’s Mobile Banking App, online banking platform and ATMs. The newly launched website will enhance IPO subscription facility for a wider investor base across the UAE and overseas, beyond existing Emirates NBD customers.
Single window solution:
Emirates NBD’s investor website will support investors’ journey at every step, from enabling prospects to register their interest for upcoming IPOs to providing information related to the IPO, key highlights about the organisation, listing dates and different ways to subscribe and more importantly, the ability to complete their payment journey on the website itself. The seamless, single interface enables completely paperless subscription in five simple steps making the process simpler and paperless.
DFM investor number (NIN) and trading account on real-time basis:
To further facilitate investor participation ahead of the upcoming listings on the Dubai bourse, the Group becomes first in the region to provide new investors with a DFM investor number (NIN) and trading account number on a real-time basis through a strategic collaboration between Emirates NBD Securities, the brokerage and securities services arm of Emirates NBD Group and Dubai Financial Market (DFM).
Ahmed Al Qassim, Group Head, Corporate and Institutional Banking at Emirates NBD, said: “This is an exciting time for the UAE markets with multiple developments coming together to create a favourable atmosphere for initial public offerings. Emirates NBD Group is pleased to support this momentum by taking the lead in expanding the investor base through a fully digital platform that will enhance an individual’s investment journey from subscription to payment. We are also delighted to be the first in the UAE to collaborate with DFM to facilitate real-time investor and trading account number creation for UAE investors. This is a key milestone of our ongoing commitment to create a seamless trading experience for UAE investors. Through such initiatives, we remain committed to supporting the UAE’s vision of building strong infrastructure for its capital markets and investors.”
Commenting on the strategic collaboration, Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “Digital transformation is integral in DFM’s extensive efforts to enhance market accessibility and streamline the investors’ on-boarding experience. The DFM’s extensive investment on numerous innovative connectivity solutions and enhancements has enabled our trading members to play an active role in on-boarding new investors, in preparation for the expected IPOs and increase in activity on the market. These efforts increased new DFM Investor Numbers by 100% during 2021, of which 63% are foreign investors, an achievement that provides us with a strong foundation for further successes in cooperation with Emirates NBD Securities and other leading technology-driven members.”