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Saturday, April 1, 2023

ADIB enables digital solutions to support UAE IPO push

ADIB enables digital solutions to support UAE IPO push

ABU DHABI – Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has announced that its retail clients will be able to conveniently subscribe to this year’s Initial Public Offering (IPO) through its mobile application. 80% of customers can subscribe to IPOs issued in 2022 via the ADIB Mobile app in just a few clicks.

ADIB also marks a major milestone as it acts as the receiving bank for both Americana and Taleem IPOs, allowing clients to subscribe and apply for additional subscription leverage through its mobile banking.

ADIB offers a fast and easy end-to-end process for IPO subscription through a mobile application.

Along with other digital services, the app will provide a superior digital subscription experience without the need to visit a bank or submit paper transactions.

Clients can register their interest in upcoming IPOs, track listing dates, apply for additional subscription leverage and make IPO payments.

ADIB is at the forefront of digital transformation, continuously investing in innovative solutions, tools and platforms to enhance customers’ digital banking experience. With this in-app subscription, customers can now receive important information on IPO subscriptions, key highlights of the listed organisation, push notifications and information on consumer protection rights and additional payment security features.

Dr. Amer Al Ameri, Head of Private Banking at ADIB, said: “IPO investment is surging across the region and the UAE will continue to experience a boom in IPOs in the coming year, and we are proud to support the UAE Government in expanding its capital markets. ADIB is promoting our client engagement in DFM and ADX is leading among UAE banks in terms of all Sharia compliant IPOs listed. We have witnessed IPOs becoming a popular investment option among our client base and are delighted to provide them with convenient in-app access to both Major IPO Subscription.

“We are committed to continuously enhancing the capabilities of our digital banking services while keeping up with trends to provide our customers with superior digital products and seamless services.” he added.

ADIB is at the forefront of digital transformation, with usage of its digital banking channels increasing significantly in Q1 2022, with 40% of clients’ personal finance applications conducted digitally on its mobile app.

The bank now has more than 700,000 digitally active customers, evidence of growing demand for digital services, including personal finance.

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