Tribune News network
QNB Group, the largest financial institution in the Middle East and Africa, has established a new partnership with Qatar Central Securities Depository (EDAA) to start the new dividends distribution process as per the directives and guidelines of Qatar Financial Market Authority (QFMA).
This partnership is aimed at efficiently co-managing the significant operations of dividends distribution payments to publicly listed companies in Qatar Stock Exchange and their registered shareholders.
The updated procedure aims to consolidate and simplify the distribution of dividends by incorporating into the framework of EDAA. This ensures compliance with QFMA directives and regulations, ultimately benefiting all Qatari-listed companies and their shareholders worldwide.
EDAA CEO Sheikh Saif bin Abdullah Al Thani said, “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 QNB as a 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 QNB’s massive operations and commitment to excellence align well with our goals; bolstering investor confidence and fostering a more dynamic investment environment.”
Commenting on this collaboration, QNB Group Chief Executive Officer Abdulla Mubarak Al Khalifa said, “This partnership will offer an enhanced service with a more effective management of the dividends distribution benefiting to all listed companies and their shareholders in Qatar and internationally.”
QNB has consistently held a prominent position as a market leader in managing initial public offerings (IPOs) and distributing dividends for the majority of Qatari shareholding companies, listed under Qatar Stock exchange.
QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. Through its subsidiaries and associate companies, the Group extends to more than 28 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 30,000 operating through more than 900 locations, with an ATM network of 4,800 machines.