Bank facilitates online generation of National Investment Numbers for ADX and DFM IPO subscriptions
Investors can generate NINs online via the Al Maryah Community Bank app to facilitate the process of IPO subscription in stock markets in ADX and DFM, instead of having to visit separate independent platforms.
Al Maryah Community Bank (Mbank), a UAE-based digital bank, has developed an innovative solution with which its customers can digitally create National Investment Numbers (NINs) to invest in Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) as well as self-subscribe to Initial Public Offerings (IPOs).
They can download Mbank's mobile application, start an account, and create their NIN, using a valid Emirates ID or UAE pass. It is not necessary to have a minimum balance and no fee is incurred.
This step is aimed at facilitating the process of IPO subscription in stock markets in both ADX and DFM. Investors can generate NINs online, instead of having to visit separate independent platforms.
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With this partnership, Mbank aims to encourage investors to enter stock markets by offering safe digital solutions and advancing the IPO subscription process.
In 2022, as a subscriptions-receivng bank, Al Maryah Community Bank took part in a number of IPO listings, which created over 20% returns. It is expected to contribute majorly in the upcoming IPOs in 2023.
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Edited by Teja Lele
