On 27 September 2026, Dubai Financial Market (DFM) and EFG Hermes UAE LLC unveiled the first fully digital retail investor onboarding on the exchange, delivered through the EFG Hermes ONE mobile app. In a single mobile flow, an individual obtains a unique DFM Investor Number (NIN) and opens a brokerage account for DFM-listed securities — no branch visit, no paper form. Here is how it changes market entry and what it means for expats and investors in the UAE.
What has been launched
The joint DFM and EFG Hermes UAE LLC product is an end-to-end digital registration of a new investor on Dubai's exchange. Inside the EFG Hermes ONE app, the investor completes identity verification, KYC and obtains the DFM Investor Number (NIN), and then, in the same flow, opens a brokerage account with EFG Hermes and starts trading DFM-listed securities. The previously required in-branch visit to a broker or to Dubai CSD is eliminated, and so is the paper-based registration.
In DFM's framing, the launch is part of the systematic digitalisation of exchange infrastructure. DFM's Chief Operating Officer Khalifa Rabba described it as a continued evolution of DFM's digital infrastructure; the CEO of Dubai Central Securities Depository, Afra Al Suwaidi, called it a step that makes the investor journey seamless. On the broker side, the product was presented by Hatem Mohab, Co-Head of Digital Retail Trading Platform at EFG Hermes: the goal is to lower the barrier to entry for new investors through ONE.
Why it matters: what a NIN is and where it sits on the investor's path
The NIN is a unique DFM investor identifier tied to an ID. Without an active NIN you cannot trade on Dubai's exchange through any broker: it is the number by which securities are registered across the whole post-trade chain (Dubai CSD, broker, bank). Historically, getting a NIN was a separate action — an in-branch visit or a paper form — which meant that the gap between the retail investor's decision to start investing and the first order could stretch across days. Now NIN issuance and the brokerage account opening at EFG Hermes are combined into a single mobile flow.
How it fits DFM's growth in H1 2026
The first half of 2026 was a period of clear retail inflows into Dubai's exchange:
- 42,864 new investors joined the market, of whom 71.4% were foreign nationals;
- total traded value reached Dh119.5 billion (+40.4% year-on-year);
- average daily traded value — Dh1.004 billion (+45.1%);
- foreign investors' share of traded value — 51%, institutional share — 71.2%;
- market capitalisation at end-June 2026 — Dh981.6 billion.
Against that backdrop, the digital onboarding launch is less a marketing gesture than the removal of an operational barrier where demand is already there. For the broader macro context of the UAE's non-oil economy in 2026 and the reasons behind the accelerating foreign-investor inflow, see our piece The UAE Economy in 2026: Diversification Under Stress Test.
What changes in practice for a UAE-based expat
For a retail investor working or living in the Emirates, the entry to DFM now fits into a single mobile flow inside EFG Hermes ONE: identity verification, KYC, NIN issuance and brokerage account opening. Turnaround times become predictably shorter, no originals or in-branch signatures required. Document and residency requirements are set by the broker and Dubai CSD rules and are confirmed at the point of application inside the app.
It is important to understand that the simplification applies specifically to the new-investor registration step. Individual investment decisions, asset-class selection, tax structuring (including UAE corporate tax exposure and tax-residency status) and reporting remain the responsibility of the investor and their advisers; the app is a convenient point of entry to the market, not a substitute for a financial or tax adviser.
Where the launch sits: the UAE's digital financial infrastructure
Mobile onboarding at DFM is part of a broader shift in the UAE's financial infrastructure: alongside institutional integrations (SWIFT connections at exchanges, opening up to international depositories), the country is building out a retail digital layer — from a national payments network to retail investment apps. For a look at the UAE's domestic payments infrastructure at the card-transaction level, see our review Jaywan: The UAE's National Payment Card. Mobile-first NIN issuance at DFM applies the same principle to the capital-markets segment: the investor enters the exchange through a smartphone, while the post-trade and institutional side is being integrated into global standards on a separate track.
What comes next
The first step has been taken at one large broker — EFG Hermes UAE LLC. Logical follow-ups are the roll-out of digital onboarding across other DFM-licensed brokers, further digitalisation of Dubai CSD processes (dividend distribution, corporate actions, investor reporting) and continued synchronisation with institutional integrations of UAE market infrastructure. Official announcements are worth tracking on dfm.ae and in Dubai CSD and WAM feeds.
This article is informational and is not investment, tax or legal advice. Conditions for trading on DFM, KYC/AML requirements, fees and settlement currency depend on the specific broker and Dubai CSD rules; before applying, verify the official announcements of DFM (dfm.ae), Dubai CSD and your broker. For investment and tax structuring in the UAE, contact the Garant team.
