Qatar Exchange launches Direct Dividend Payment Plan
Qatar Exchange, the Qatari bourse, launched an initiative aiming to allow investors to have their dividends directly deposited in their bank accounts.
The purpose of this initiative, which comes in line with the best international practices, is to help develop the Qatari financial market and protect investors’ rights.
To this effect, investors will be requested to visit their bank to provide the necessary instructions to ensure getting the dividends through their bank accounts.
The QE has provided all banks with forms, which will be required to be filled out by investors to include their bank account information.
The payment of their dividends in a fast, safe and easy manner without being compelled to collect their dividends checques and then go to their banks to deposit them.
Investors will not have to pay any charges for taking advantage of this service, that all Qatari banks were ready to facilitate this process.
All investors have to do is to visit their banks and fill in the form available at the customer service to include account number and signature, so the bank can verify and stamp the forms and deliver them to QE’s Central Registration Department (CRD).
The CRD at QE will then enter the bank account numbers in the shareholders’ records and include those numbers in the statements sent to the shareholding companies in order to transfer the due dividends to the investors’ bank accounts at the end of each year.
As to the possibility of using the NIN modifications forms available on QE’s website for adding the shareholder’s bank account number, the investor may print the form, fill out the required information and then submit it to his bank in order for the bank staff to stamp it and return it to the Central Registration Department at QE.
For more information kindly click on link of QE webpage