UAE Community Bank offers 1st mobile application to generate NIN

By Arya M Nair, Official Reporter
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Al Maryah Community Bank has become the first to create an innovative solution for its customers to digitally create National Investment Numbers (NINs).

The NINs will enable customers to invest in both the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), as well as self-subscribe to Initial Public Offerings (IPOs) through Mbank’s mobile application and online platforms.

In close collaboration with both ADX and DFM, this will facilitate the IPO subscription process in both stock markets by offering this one-of-a-kind service in the UAE whereby investors can generate NINs for both just by downloading the Mbank UAE mobile application, opening an account, and creating their investment numbers in preparation for the upcoming IPO listings instead of heading onto separate independent platforms to generate a NIN for each stock market at a time.

As a community bank, Mbank focuses on its commitment to encouraging investments and savings, as they are essential aspects of building wealth and having a secure financial future. Through this collaboration, Mbank encourages investors to venture into stock markets by providing them with a secure digital solution to do so and facilitating their subscription process to IPOs, ultimately leading the way to an upgraded and advanced overall economy.

The entire process of downloading the Mbank UAE app and opening an account can be done in less than five minutes by using only an Emirates ID or UAE Pass. No minimum balance is required, and there are no fees incurred whatsoever. In just a few clicks on the app, investors can generate their NINs and get ready for their upcoming investment journey on both ADX and DFM.

By offering this service to its customers, Al Maryah Community Bank distinguishes itself by being the first bank in the UAE to do so all while offering a fully seamless digital IPO subscription process with up to five times leverage to increase investors’ shares allocation during their investments and boost their returns.

Al Maryah Community Bank has participated in several IPO listings as a Subscriptions Receiving Bank during the year 2022 which has generated more than 20 percent returns and will continue to be a major contributor to the upcoming IPOs in 2023.

Al Maryah Community Bank, UAE’s first fully integrated Digital Bank offers an omnichannel experience to individual consumers and small businesses.

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