Dubai Financial Market (DFM) has launched the
iVESTOR card, designed to improve cash dividend distribution and
act as a link between DFM and investors.
The iVESTOR card has been launched in
partnership with service providers, Network International and Visa.
It will be issued by the banking group Emirates NBD.
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The card will enable DFM to credit cash
dividends directly into the shareholder’s card balance. iVESTOR
cardholders will also be able to withdraw cash from any Visa or
PLUS marked ATM’s worldwide, top up their balance through Emirates
NBD cash deposit machines or over the counter in the United Arab
Emirates branches, and purchase goods from Visa accepting retail
outlets across 170 countries.
Essa Kazim, executive chairman for DFM said:
“We are thrilled to introduce the iVESTOR card, a first of its kind
global service from DFM. As we all know, cash dividend distribution
was always a time consuming process as investors have to wait for
cheques to be issued and sent to them by post and then also have to
deposit them into their accounts, not to mention the lost cheques
and the hassle of issuing a replacement.
“This value added service will be initially
introduced to DFM company shareholders and then extended to other
listed companies who appoint DFM as the dividend distribution
agent,” Kazim added.
The card is split into three categories,
Classic, Prestige and Platinum which is based on ownership of DFM
shares. Other services that will be added in the future will
include; the ability to register and vote during Annual General
Meetings and to subscribe to initial Public Offerings executed
through DFM.
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By GlobalData“We are extremely pleased to support DFM in
launching this new card,” said Mohammed Al Falasi, senior vice
president, head of direct sales force and alternative channels at
Emirates NBD. “Listed on the DFM and a leader in providing
innovative banking solutions, Emirates NBD strongly believes that
these cards will prove extremely attractive to shareholders of all
DFM-listed companies, who will find accessing their dividend
payments easier and more efficient than ever before.”
The iVESTOR card will be issued at no cost to
over 30,000 investors of DFM company shareholders for the financial
year 2009 cash dividend.
