Investors Encouraged to Retrieve Unclaimed Dividends via First Abu Dhabi Bank (FAB) by SCA
Claiming Unpaid Dividends Made Easy with FAB and SCA
The Securities and Commodities Authority (SCA) is urging investors to claim their outstanding dividends through First Abu Dhabi Bank (FAB). This initiative aims to align the dividend collection process with shareholder expectations and the UAE government's vision of delivering world-class services.
To begin the process, investors should use the dedicated e-service launched by the SCA for unclaimed dividends, accessible on the FAB website. Shareholders can submit and track their payback requests online through this service. FAB reviews the requests and transfers the dividends to the claimant's bank account within 10 business days, provided all required documents are submitted.
The documents required for this process include: - A copy of the Emirates ID card (for UAE nationals and residents) - A copy of the passport (for non-UAE nationals) - A bank certificate specifying the account number and IBAN - Share certificates, general assembly invitations, or other relevant documents proving ownership of the shares (if available)
This procedure is designed to streamline the claiming of unpaid dividends, including those dating back before March 2015, complying with the mechanisms set by the Abu Dhabi Securities Exchange (ADX) and the SCA.
FAB remains the official paying agent for this process, and shareholders can submit claims through FAB's online "Investment Banking - Unclaimed Dividends" service. If a complaint is not resolved by FAB, investors can escalate the matter to the SCA at [email protected], and they are required to include the original complaint documents when escalating a matter to the SCA.
It's important to note that the dividend collection process does not specify a deadline for claim submission. However, FAB promises to resolve shareholder complaints within 10 business days. For any concerns or complaints about the dividend collection process, investors can contact FAB via email.
The SCA continues to prioritize streamlining the dividend collection process and safeguarding shareholder rights, ensuring access to dividends for all eligible investors. By taking advantage of this easy-to-use online service, investors can reap the benefits of their investments and maintain their financial well-being.
- The SCA, in collaboration with the UAE government's vision and First Abu Dhabi Bank (FAB), urges investors to utilize the banking sector for claiming unpaid dividends, thereby investing in a smooth, efficient, and world-class service.
- FAB, acting as the official paying agent, has designed an online "Investment Banking - Unclaimed Dividends" service for shareholders to submit their payback requests, along with required documents like Emirates ID, passport, bank certificate, and share certificates.
- By submitting their claims through FAB's online service, investors can expect their unpaid dividends to be transferred to their bank account within 10 business days, ensuring a potential return on their previous business investments.
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