Al Hilal Bank, a subsidiary of the ADCB Group has signed an agreement with the Abu Dhabi Securities Exchange (ADX) to offer instant subscriptions to all Shariah-compliant initial public offerings (IPOs) on the Exchange’s e-IPO portal.
The initiative aims to provide a streamlined process for IPO subscriptions, eliminating the time needed to complete physical forms or make in-person visits for document authentication.
The digital app interface provides essential information about the IPO, including direct links to the prospectus and a section for frequently asked questions (FAQs). To subscribe to an ADX IPO, Al Hilal Bank customers need to only have a National Investor Number (NIN).
“This collaboration is part of ADX’s ongoing efforts in working with partners to support issuers in connecting with the wider investment community, and to empower investors, locally and globally, with more innovative solutions and direct access to boost their investment journey,” said Abdulla Salem Alnuaimi, Group CEO of ADX.
Jamal Al Awadhi, Deputy CEO of Al Hilal Bank, added, “Today’s announcement is another example of Al Hilal Bank introducing innovative solutions to make banking simpler and more convenient for customers, further strengthening our position as one of the UAE’s leading digital banks.”
The service will also be accessible through the Al Hilal Digital banking app, the bank announced.
