Investors in the Dubai Financial Market (DFM) will be able to access additional and improved services after the exchange issued them smart cards as part of its move into electronic services.
The investor card contains each investor’s personal information and individual investor number, and is used in each transaction at the DFM.
The new card uses a magnetic strip to store investor data, which it is hoped will enable investors to carry out transactions with greater ease and speed.
The cards will contain personal and professional information but the new electronic format will allow investors to keep track of their transactions in complete privacy.
300,000 cards have already been distributed to investors in the UAE and abroad, with more to follow soon.
At the end of last month, there were 570,000 investors registered with the DFM.
Around 370,000 of them have updated their personal data with the DFM’s Depository, Clearing and Settlement Department.
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