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DFM Introduces iVESTOR Card To Manage Cash Dividend Distribution

Dubai Financial Market (DFM) has launched the iVESTOR card, a new solution designed to be the financial link between DFM and investors.

The iVESTOR card launched in cooperation with Network International and Visa, the service providers and Emirates NBD, the issuer of the card. 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.

As an iVESTOR cardholder, investors will no longer have to wait for their cash dividend cheques to be posted to them or have the hassle to cash the dividend cheques into their bank accounts, as this new card will enable DFM to credit cash dividends directly into the card balance.

Additionally, investors can use this card for cash withdrawals from the 650 Emirates NBD ATM network in the UAE or from any Visa or Plus marked ATM’s globally, as well as for reservations, travel and shopping from millions of Visa accepting retail outlets across 170 countries.

Furthermore, cardholders will be able to top up their balance through Emirates NBD cash deposit machines or over the counter in any of the 110 branches in the UAE.

Introduced in three categories, classic, prestige and platinum based on ownership of DFM shares, the iVESTOR card not only can be used as a normal debit card locally and internationally, but will also offer value added services in the near future, including the ability to register and vote during annual general meetings and to subscribe to initial public offerings executed through DFM.

Essa Kazim, executive chairman of Dubai Financial Market, said: “We are thrilled to introduce the iVESTOR card, a first of its kind global service from Dubai Financial Market (DFM). With this innovative solution, dividends of the DFM company will be credited instantly to the card account for immediate access.

“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.”

Mohammed Al Falasi, senior vice president, head direct sales force and alternative channels at Emirates NBD, said: “We are extremely pleased to support Dubai Financial Market in launching this new card.

“Listed on the Dubai Financial Market 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. We are confident that the response to the introduction of these cards will be extremely positive.”