DFM and trading, IPOs, etc.

Phoenix

Hi all, I am contemplating filing for an IN at DFM. Have some questions though: 1. How long does it take to get an IN? 2. Can I get the IN on Saturdays (my day off from work)? Or is filing for IN open only from Sunday through Thursday? 3. Emirates Islamic Financial Brokerage a. Is it any good? Has anyone used the services of this brokerage? b. Are they fast in executing orders over phone/fax/email? c. Do they have an online trading platform? d. Do they have a mandatory minimum account balance in order to start trading? 4. What is the process for filing for an IPO like - for non GCC foreigners? [If possible, could you detail the whole life-cycle]. Many thanks in advance. - P [/list]

Concord

Phoenix wrote: Hi all, I am contemplating filing for an IN at DFM. Have some questions though: 1. How long does it take to get an IN? 2. Can I get the IN on Saturdays (my day off from work)? Or is filing for IN open only from Sunday through Thursday? 3. Emirates Islamic Financial Brokerage a. Is it any good? Has anyone used the services of this brokerage? b. Are they fast in executing orders over phone/fax/email? c. Do they have an online trading platform? d. Do they have a mandatory minimum account balance in order to start trading? 4. What is the process for filing for an IPO like - for non GCC foreigners? [If possible, could you detail the whole life-cycle]. Many thanks in advance. - P [/list]

fayz

for Question 2, no you can't get a NIN on Saturday, it's closed, the process is pretty easy to do though but you can only do it from Sunday through Thursday. For the rest of your questions, great answer are on these sites. http://www.dubaisharetalk.com www.sharewadi.com. Good luck :)

Phoenix

Hi Fayz, Thanks for those links - but strangely enough, I'm unable to register at the forum there. Oh bummer! Sun-Thurs only? Worse comes to worse, I might have to skip work for a day to file for an IN - unless of course I can authorise someone else to apply on my behalf? Is that even possible? Generally speaking, how quickly can you get the IN? Or do you have to endure a long queue as such? Thanks.

fayz

For the NIN (They call it National Investor Number, although you need a different one for ADSM ) it likely won't take more than an hour, things go pretty quick and they are pretty organized. Remember you need to open an account with a broker before you can invest, that's another step after you get your NIN. Not sure if you can get someone to go on your behalf, best to call them and ask.

MaaaD

yeah i deal with emirates financial services and they got my investor numbers for me .. just go to the financial market after it closes (if you guy while its open no one will give you any attention) and most brokers have offices there and you can open an account you just need a passport copy.