Mubasher: Dubai Financial Market (DFM) signed a memorandum of understanding (MoU) with the government of Dubai’s Department of Finance (DoF) and Dubai Islamic Bank (DIB), according to a statement on Monday.
DIB, under this agreement, became the first bank to enable investors, who participate in initial public offerings (IPOs) and rights issues implemented through DFM’s “eIPO” platform, to subscribe by debiting their accounts and receiving the excess amounts.
“eIPO” platform is a solution for IPO subscription directly linked with the receiving banks.
Subscribers can participate, through the Dubai Government’s ePay Portal, in IPOs by instantly debiting from the customer’s bank account.
