By Leandra Monteiro
Abu Dhabi Islamic Bank (ADIB), an Islamic financial institution announced that its retail customers were able to participate in the IPO subscriptions this year through its mobile app.
80% of clients subscribed to the IPOs that were issued in 2022 through ADIB Mobile app in just a few clicks. ADIB also acted as a receiving bank for two IPOs simultaneously, Americana and Taleem where customers are able to subscribe and apply for additional subscription leverage to both through its mobile banking.
ADIB’s app provides a digital subscription without the need to visit the bank or submit paper. Customers can register their interest in upcoming IPOs, follow listing dates, apply for additional subscription leverage and make IPOs payments all through the app.
Dr. Amer Al Ameri, Head of Private Banking, ADIB said, “IPO investments are surging in the region and the UAE will continue to experience an IPO boom in the coming year, we are proud to supporting the strategy of UAE government of expanding the capital market. ADIB was a leader among UAE banks in facilitating participation for our customers in all sharia compliant IPOs listed on DFM and ADX. We have witnessed that IPOs are becoming a popular investment option among our client base and are delighted to offer them a convenient, in-app access for these two key IPO subscriptions.
“We are committed to constantly enhancing the features of our digital banking services while keeping pace with trends, providing excellent digital products, and seamless service to our customers,” he added.
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