Masraf Al Rayan Partners with Edaa for Investors’ Dividends Payment

Doha, Qatar, March 30, 2024

Under an agreement with Edaa, (Qatar Central Security Depository), Masraf Al Rayan is set to enhance and streamline the distribution of dividends to shareholders of listed companies in the Qatari market. This initiative aims to unify and simplify the dividend distribution process by integrating it into the operational framework of Edaa, ensuring compliance with the directives and regulations of Qatar Financial Markets Authority (QFMA). The agreement was signed at Edaa premises in the presence of senior executives from both entities.

As per this agreement, Masraf AL Rayan will integrate its dividend distribution system with the Edaa platform to efficiently, swiftly, and accurately execute dividend distribution operations. This system facilitates seamless uploading of stock dividend files and real-time updates on paid and unpaid dividends.

In this context, Sheikh Saif bin Abdullah Al Thani, CEO of Edaa, stated: "As part of our commitment to enhancing investor experiences and value proposition, and in our efforts to streamline the dividend distribution process while ensuring accuracy and speed, we are pleased to select Masraf Al Rayan as our banking partner for dividend distribution. This partnership is a testament to our ongoing dedication to providing a seamless, efficient, and transparent mechanism for dividend distribution. We are confident that the outstanding operations of Masraf Al Rayan and its commitment to excellence align well with our goals, enhancing investor confidence and the vibrancy of the investment environment."

On his part, Mr. Fahad Al Khalifa, GCEO of Masraf Al Rayan Group, affirmed that the bank's partnership with Edaa is a strong testament to the bank's commitment to providing advanced financial services in line with its strategy to invest in technology for banking service development. He said: "Our agreement with Edaa aligns with our efforts to develop advanced financial services and enhance the experience of shareholders of QSE listed companies. We are confident that it will have a significant positive impact for the benefit of listed companies and their shareholders. We aim to enhance the experience of distributing dividends to shareholders of QSE listed companies and contribute to the sustainable development of the financial sector in Qatar. Therefore, we are committed to providing the best technological financial solutions to all our customers and partners."