Mbank develops app to generate NINs for both ADX & DFM IPO subscriptions

By Leandra Monteiro

Al Maryah Community Bank, a digital bank in the United Arab Emirates, is the first banking platform in the Emirates that has developed for its customers an innovative solution to digitally create National Investment Numbers (NINs) for investing in both Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) and self-subscribe to Initial Public Offerings (IPOs) through Mbank’s mobile application and online channels.

In close collaboration with both Abu Dhabi Securities Exchange and Dubai Financial Market, this will facilitate the IPO subscription process in both stock markets by offering this service in the UAE whereby investors can generate NINs for both just by downloading the Mbank UAE mobile application, opening an account, and creating their investment numbers; in preparation for the upcoming IPO listings – instead of heading onto separate independent platforms to generate a NIN for each stock market at a time.

Through this collaboration, Mbank encourages investors to venture into stock markets by providing them with a secure digital solution to do so and facilitating their subscription process to IPOs, ultimately leading the way to an upgraded and advanced overall economy.

The entire process of downloading the Mbank UAE app and opening an account can be done in less than five minutes by using only an Emirates ID or UAE Pass. No minimum balance is required, and there are no fees incurred whatsoever. In just a few clicks on the app, investors can generate their NINs and get ready for their upcoming investment journey on both ADX and DFM.

Head of Strategic Planning & Product Development, Nouman Aziz said, “At Al Maryah Community Bank, we take pride in providing our community with initiatives that encourage them to venture onto their investment journeys and participate in the market. We are particularly thankful for Abu Dhabi Securities Exchange and Dubai Financial Market’s continuous collaboration and support in enabling us to provide customers with the best digital solutions in the banking and investment industries; while ultimately promoting the UAE community’s economic growth”.