Dubai Financial Market launches electronic dividend distribution service

Dubai Financial Market has launched an electronic service (myAccount) enabling investors to transfer dividends amounts to their iVESTOR Card accounts, bank accounts as well as to pay for IPOs and right issues subscription. The Shariah compliant exchange, which has an investor base of over 844,000, has executed 1.3 million transactions to the new electronic accounts with a total value of AED1 billion (US$272.2 million).