Doha, September 08 (QNA) - Qatar International Islamic Bank (QIIB) and Edaa have signed an agreement to facilitate the distribution of dividends to shareholders of companies listed on the Qatar financial market, in line with the regulations issued by the Qatar Financial Markets Authority (QFMA).

Under the agreement, Edaa will act on behalf of listed companies to handle the distribution of both cash dividends and bonus shares as decided by those companies.

The agreement was signed by HE Chief Executive Officer, Edaa, Sheikh Mohammed bin Jassim Al-Thani, and Chief Executive Officer, QIIB, Dr. Abdulbasit Ahmed al-Shaibei.

This partnership reflects the commitment of both parties to enhance the dividend distribution system, improving efficiency, speed, and accuracy in serving shareholders by leveraging the latest available digital solutions.

As part of the agreement, QIIB will integrate its dividend distribution systems with Edaa's platform to streamline the process for shareholders.

This integration will enable the secure uploading of dividend files, provide real-time updates on paid and unpaid dividends, and allow inquiries using the National Investor Number (NIN).

Commenting on the signing, HE CEO, Edaa, Sheikh Mohammed bin Jassim Al-Thani, said: “This partnership with QIIB marks a significant addition to our ongoing efforts to develop dividend distribution mechanisms and enhance investor confidence. We are committed to providing faster and more accurate processes that ensure dividends reach shareholders in a timely manner.

“Our choice of QIIB as a banking partner underscores our confidence in its capabilities, expertise, and dedication to innovation and excellence. This fully aligns with our vision of building a dynamic and sustainable investment environment.”

He added: “At Edaa, we are continuously working to upgrade our services and launch innovative initiatives that elevate the investment experience for shareholders.

“This agreement with QIIB is a model of fruitful cooperation between national institutions, and we will continue to develop similar strategic partnerships to enhance market efficiency and deliver greater value to investors.”

For his part, CEO, QIIB, Dr. Abdulbasit Ahmed al-Shaibei, said: “We are pleased to sign this agreement with Edaa, which represents an important step towards enhancing financial services offered to investors in the Qatari market.

“At QIIB, we place the development of digital solutions and the adoption of modern technologies at the core of our strategy. We consider this partnership a key milestone that will simplify the dividend distribution process and provide a more efficient and seamless experience for shareholders of listed companies.”

“We believe that expanding digital solutions and integrating with advanced platforms such as Edaa reflects our strong commitment to supporting the national economy and strengthening investor confidence.

“We will continue to invest in innovation to ensure advanced banking services that meet the aspirations of our clients and partners, while reinforcing Qatar's position as a leading regional and international financial hub.”

Dr al-Shaibei concluded, “QIIB is committed to supporting the ambitions of the Qatari market through pioneering financial and banking solutions, keeping pace with digital advancements, and reinforcing our standing as a leading Islamic financial institution in Qatar and the region.” (QNA)