Dubai Financial Market launches SMS notification service for share transfer

The new service is just another initiative from the clearing, settlement and depository division to provide investors with value added services, achieve more efficiency for the division's activities and take it a step forward into an electronic environment.

Commenting on the new service and its main features and additions, Maryam Fikri, senior vice president and director of clearing, settlement and depository division, said:

"CSD is keen to launch several initiatives and new value added services such as this new service that will enable investors to receive instant confirmation about share transfer as soon as the procedure is approved and the transfer among brokers is done."

"The new service is available to investors free of charge, furthermore, it doesn't require a subscription. This is just the beginning, as a wider range services will be announced in due course. We are confident that these services will have a very positive effect on investors," she added.

It is worth noting that DFM launched last April The E-calculator service which is an effective tool that allows investors and public joint stock companies alike to calculate different fees of administrative transactions through DFM's website. This service was of great value, as it helps to tackle a time consuming step both for the customers and the employees.