DOHA: Commercial Bank, a leader in innovative digital banking in Qatar, has been designated by Edaa as the first bank in Qatar to manage the dividends distribution for the listed companies in Qatar, in accordance with the QFMA regulations.

This is in line with the National Vision of providing services by digital means. The signing ceremony took place on January 11 at the Edaa premises, with senior executives from both parties in attendance.

Dividend distribution is a vital aspect of Commercial Bank's business, as evidenced by its successful management of numerous recurring mandates. This underscores the bank's competence, commitment, and service excellence in this domain.

Commercial Bank's advanced dividend system is seamlessly integrated with an online platform, allowing for efficient dividend file uploads and providing real-time updates on paid/unpaid dividends. The platform also offers features such as inquiries based on NIN, facilitating easy reconciliation of dividend payments for Edaa and the listed companies.

Sheikh Saif bin Abdullah Al-Thani, the CEO of Edaa commented: “As part of Edaa’s commitment to enhancing investor experiences and value, and in an effort to streamline the dividend distribution process as well as ensure accuracy and timeliness, Edaa is pleased to have selected Commercial Bank (CBQ) as Qatar’s first payment bank partner for the dividend distribution. This partnership is a testament to our continued focus on providing a seamless, efficient, and transparent mechanism for dividend payouts. We are confident that Commercial Bank’s innovative digital solutions and commitment to excellence align well with our goals; bolstering investor confidence and fostering a more dynamic investment environment.”

Commercial Bank’s Group Chief Executive Officer, Joseph Abraham said: “Commercial Bank distinguishes itself by offering cutting-edge technology solutions. Our dividend offering provides a comprehensive solution, featuring seamless host-to-host connectivity for digital dividend file processing and real-time online access via CIB (Corporate Internet Banking Portal). This allows shareholders to conveniently access both paid and unpaid information, facilitated by Edaa and Listed Entities. We express gratitude to Edaa for selecting us and placing confidence in our capabilities.”

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