QE launches bank transfer of dividends
Dubai, October 24, 2011
Qatar Exchange (QE) has launched an ambitious initiative aimed at allowing investors to have their dividends directly deposited in their bank accounts.
Investors have been requested to visit their banks to provide the necessary instructions to receive the dividends through their bank accounts. QE has provided all banks with forms, which should be filled out by investors to include their bank account information.
The initiative intends to serve investors by ensuring the payment of their dividends in a fast, safe and easy manner without being compelled to collect their dividend cheques and then go to the bank to deposit these cheques, said Andre Went, CEO, Qatar Exchange.
“This initiative addresses the complaints received regularly from investors regarding the current payment process”, he added.
Making clear that the investors will not pay any fees or charges for taking advantage of this service, Went thanked all Qatari banks for declaring their readiness to facilitate this process in a timely and efficient manner.
Rashid Bin Ali Al-Mansoori, deputy CEO of Qatar Exchange, clarified that the investors' dividends paid by the shareholding companies will be electronically transferred to their bank account upon dividends distribution.- TradeArabia News Service