Edaa, AlRayan Bank sign cooperation agreement to issue National Investor Number electronically

Edaa, the Qatar Central Securities Depository, has entered into a cooperation agreement with AlRayan Bank, marking the first instance in Qatar where a bank will facilitate customers applying for a National Investor Number and updating shareholder information through an electronic system.

Under this agreement, both new and existing AlRayan Bank clients can complete the process entirely through the bank, eliminating the need for separate applications to Edaa.

The National Investor Number is a crucial first step for anyone looking to invest in securities listed on Qatar's financial market. Edaa's Chief Executive Officer, Sheikh Mohammed bin Jassim Al-Thani, emphasized the importance of simplifying this initial step to make it secure and accessible to all investors.

AlRayan Bank's involvement in this system aims to bring market services closer to investors by providing digital access through the bank's digital channels, thereby removing the necessity for investors to visit physical service centers.

The cooperation between Edaa and AlRayan Bank is seen as a significant step towards improving access to capital market services and broadening the investor base. It underscores Edaa's belief that market growth and development are closely tied to wider investor participation and easier access to relevant services.

For its part, AlRayan Bank's Acting Group CEO and Group Chief Operations and Administration Officer, Omar Al Emadi, expressed his satisfaction at the bank becoming the first in Qatar to offer its clients direct digital access to Edaa's services related to the National Investor Number. He highlighted the bank's commitment to enhancing the customer experience and providing seamless, convenient access to services that cater to their financial and investment needs.