Dubai Financial Market (DFM) has launched a new design for its Investor Card, which includes the identity of investors through the Investor Number embedded on the card’s magnetic strip.
The step comes in line with DFM’s vision to offer advanced services to customers as the market enters a new ear of electronic services that will be linked to the Investor Number. The first tranche of 300,000 cards has been sent by mail to investors in the UAE and abroad.
The new card incorporates a magnetic strip, like those found on a credit card that contains a vast amount of critical data, which will enable investors to carry out transactions with greater ease and speed. Apart from the Investor Number (IN), the new electronic smart card also provides a great deal of relevant personal and professional information. This comes in line with DFM’s new plans after it converted to an Islamic stock market and a public listed company.
The card will allow investors to track their transactions in complete privacy. The same Investor Numbers that were earlier provided to investors will be saved on the card’s magnetic strip.
The number of investors registered with DFM reached 570,000 as of the end of February 2007. Roughly 370,000 investors have already updated their personal data with DFM’s Depository, Clearing and Settlement Department. The second batch of smart Investor Cards will be issued and distributed to investors in the very near future.
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