Dubai’s Emirates NBD Securities has become the first securities brokerage to launch an end-to-end digital onboarding process, WAM reported on Thursday.
“The newly launched platform enables over one million Emirates NBD customers to start trading instantly amid increased demand for stocks and a robust pipeline of initial public offerings on the Dubai Financial Market (DFM),” the state press agency said in a statement.
Emirates NBD, which is the emirate’s biggest lender, will allow its customers to instantly acquire a DFM investor number (NIN) and Emirates NBD Securities brokerage account.
“We are confident that efforts by our fast-growing securities brokerage arm to remove the barriers to trading will increase the flow of capital into regional markets, enhancing market liquidity and reinforcing the emirate’s position as the region’s leading financial centre and hub for technological innovation,” Emirates NBD’s senior executive vice president and group head Ahmed Al Qassim said.
Customers on the platform will instantly receive their trading account details and DFM NIN, “eliminating the need to print, sign, scan and e-mail documents.”
“Digital transformation is integral part within DFM’s efforts to investors’ onboarding experience and market accessibility. We look forward for further cooperation with Emirates NBD Securities to reinforce DFM’s digital transformation strategy and to further enhance our investor base of local and international investors,” DFM and Nasdaq Dubai’s chief executive officer Hamed Ali said.
The onboarding process also provides access to other regional exchanges, advanced trading platforms and app.
Investors can also maximise their returns with THARAA‘, Emirates NBD’s loyalty program that rewards every executed trade, WAM said, adding that investors on the platform are equipped with the “ability to manage the proceeds of their trades in real-time through their personal bank account, a multi-purpose settlement account with the bank’s debit card, and the ability to invest in Shari’ah-compliant shares through the bank’s Investment Murabaha platform.”
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