Edaa, QIIB sign agreement to distribute dividends

Doha, Qatar: QIIB and Edaa have signed an agreement to facilitate the distribution of dividends to shareholders of companies listed on the Qatar finan...

Doha, Qatar: QIIB and Edaa have signed an agreement to facilitate the distribution of dividends to shareholders of companies listed on the Qatar financial market, in line with the regulations issued by the Qatar Financial Markets Authority (QFMA). 

Under the agreement, Edaa will act on behalf of listed companies to handle the distribution of both cash dividends and bonus shares as decided by those companies. 

The agreement was signed at Edaa’s headquarters by Sheikh Mohammed bin Jassim Al-Thani, Chief Executive Officer, Edaa and Dr. Abdulbasit Ahmed Al-Shaibei, Chief Executive Officer, QIIB. The signing ceremony was also attended by Jamal Abdullah al-Jamal, Deputy CEO, QIIB, and Hossam Khattab, Head of the Bank’s Financial Sector, along with several senior executives from Edaa. This partnership reflects the commitment of both parties to enhance the dividend distribution system, improving efficiency, speed, and accuracy in serving shareholders by leveraging the latest available digital solutions. As part of the agreement, QIIB will integrate its dividend distribution systems with Edaa’s platform to streamline the process for shareholders. 

This integration will enable the secure uploading of dividend files, provide real-time updates on paid and unpaid dividends, and allow inquiries using the National Investor Number (NIN).

Commenting on the signing, Sheikh Mohammed bin Jassim Al-Thani, CEO, Edaa, said: “This partnership with QIIB marks a significant addition to our ongoing efforts to develop dividend distribution mechanisms and enhance investor confidence. We are committed to providing faster and more accurate processes that ensure dividends reach shareholders in a timely manner.