Doha, October 06 (QNA) - Qatar Central Securities Depository (Edaa) signed a cooperation agreement with AlRayan Bank, making it the first bank in Qatar to enable its customers to apply for a National Investor Number and update shareholder details with Edaa directly through the bank, using an electronic system dedicated to this service.

The company said that, under the agreement, existing and new Al Rayan Bank customers can complete this step directly through the bank, without the need to submit applications to Edaa separately.

The National Investor Number is the first step for those wishing to invest in securities listed on the Qatari financial market.

HE Chief Executive Officer of Edaa, Sheikh Mohammed bin Jassim Al-Thani, said that every investor's journey in Qatar begins with obtaining a National Investor Number, stressing the importance of making this initial step simple, secure and accessible to all.

AlRayan Bank's participation in the system would bring market services closer to investors by making them available through the digital channels of its partners, eliminating the need for investors to visit service centers in person, he added.

His Excellency pointed out that this cooperation represents an important step toward improving access to capital market services and broadening the investor base, reflecting Edaa's belief that the growth and development of markets are closely linked to wider participation and easier access to relevant services for investors.

In turn, Acting Group CEO and Group Chief Operations and Administration Officer at AlRayan Bank, Omar Al Emadi, expressed his delight with the Bank becoming the first of its kind to provide its clients with direct digital access to Edaa's services related to the National Investor Number, pointing out that this cooperation reflects the bank's commitment to simplifying the customer experience and providing seamless, convenient access to services that meet their financial and investment needs.

By integrating this essential step into its digital banking ecosystem, the bank is making it easier for customers to participate in Qatar's capital market while providing them with a more flexible and efficient experience, Al Emadi noted.

He also expressed his aspiration to continue working with Edaa and contribute to the development of a more accessible and efficient financial system, as well as further advancing digital transformation in Qatar. (QNA)