The Securities and Commodities Authority (SCA) has successfully processed 12,000 requests, disbursing over AED115 million in unclaimed dividends to shareholders of public companies and dormant balances held by brokerage firms.
The initiative, which began in February, reflects the SCA’s commitment to delivering proactive, high-quality services to the public, aligned with the UAE leadership’s vision for improving investor engagement in the financial markets. Mohamed Ali Al Shorafa Al Hammadi, Chairman of SCA, stated that the disbursement of unclaimed dividends prior to March 2015 is a significant milestone, encouraging investors to claim their dues and better monitor their investments.
Key Initiatives:
Al Shorafa highlighted that the project is a core priority of the UAE leadership, aimed at ensuring that investors receive their entitlements through:
- Effective communication channels to raise public awareness about unclaimed dividends.
- Expanding electronic services in coordination with the payment agent to offer flexible and seamless experiences for investors.
The SCA’s efforts underscore its vision to enhance customer satisfaction and promote innovation in the UAE’s investment landscape by meeting government standards of excellence.
By integrating these advanced digital solutions, the SCA is fostering greater transparency and efficiency, helping shareholders reclaim their dormant assets while also bolstering the UAE’s robust financial market framework.
