The Securities and Commodities Authority (SCA) has invited investors to submit payment requests to claim unclaimed dividends or cash held in dormant accounts at brokerage firms.
SCA has assigned First Abu Dhabi Bank (FAB) to manage the disbursement of unclaimed dividends to shareholders of locally listed public joint-stock companies predating March 2015. Interested investors can lodge their requests via email, phone, or any FAB branch across the UAE.
Requirements for unclaimed dividends include:
- Emirates ID card copy (for UAE nationals/residents)
- Passport copy (for non-UAE nationals)
- Family book copy (for UAE nationals)
- Bank certificate specifying the account number and IBAN
- Share certificates or other documents proving ownership and dividend entitlement
- Investor number (if applicable)
For legal entities:
- Commercial license copy
- Authorised signature letter
- Passport and ID card of the authorised signatory
Applicants acting on behalf of shareholders or heirs must provide a power of attorney or succession certificate issued and endorsed by relevant UAE authorities. If issued abroad, it must be notarised by the UAE Embassy, the issuing country’s ministry of foreign affairs, and the UAE Ministry of Foreign Affairs.
Requirements for funds held in dormant accounts at licensed brokerage firms include:
- Emirates ID card copy (for UAE nationals/residents)
- Passport copy (for non-UAE nationals)
- Bank certificate specifying the account number and IBAN
- Account statement or relevant document indicating the owed funds
- Copy of the account opening agreement (if applicable)
- Investor number
For legal entities:
- Commercial license copy
- Authorised signature letter
- Passport and ID card of the authorised signatory
Similar to the process for unclaimed dividends, applicants acting on behalf of shareholders or heirs must provide a duly authorised power of attorney or succession certificate. Investors must direct their requests and the necessary documentation to the SCA for brokerage firms with revoked licenses or ceased operations. These requests can be submitted through the SCA website, email, or call centre.
