Dubai Financial Market (DFM) is hosting the 18th conference of The Africa & Middle East Depositories Association (AMEDA) for the first time from 22 to 25 September 2013 with the participation of more than 50 senior delegates and experts representing 2 9 member depositories. The conference has been inaugurated today at The Address Hotel, and members of the association are due to vote on the admission of new members from Iraq and Ivory Coast.
AMEDA was established in 2005 as a non-profit organization aimed to be a forum for knowledge sharing and promotion of best practices amongst its member Depositories in Africa & the Middle East.
Essa Kazim, Managing Director and CEO, Dubai Financial Market said: “DFM is delighted to host for the first time the Africa & Middle East Depositories Association (AMEDA) meeting. We look forward to have a fruitful participation for various participants thanks to Dubai’s position as a dynamic capital markets hub in the region, a fact that has been reinforced with the enormous number of DFM initiatives since its inception in the year 2000. DFM has constantly collaborated with AMEDA and despite it has been established few years ago, the association has successfully attracted not only regional depositaries but also many international financial institutions encouraged by its pivotal role in promoting cooperation, exchange knowledge and best practices in CSD services amongst its members.”
Mohamed Abdel Salam, President of AMEDA, Chairman and Managing Director of Misr Company for Central Cleaning, Depository & Registry highly praised DFM’s enthusiasm to host the conference and provide various requirements to ensure the success of this significant event which represents a unique opportunity to share knowledge and further gain knowledge about international best practices. “The formation of AMEDA provided the ideal platform to enhance the relation amongst regional depositories and has definitely helped in promoting best practices and success stories in clearing, settlement and depository services both regionally and internationally”, Abdel Salam said.
Maryam Fekri, Executive Vice President & Chief Operation Officer (COO) Head of Clearing, Settlement and Depository said: “The 18th conference of The Africa & Middle-East Depositories Association (AMEDA) offers participants a significant opportunity to gain knowledge of the latest developments through a high level speakers from the region and beyond who will thoroughly discuss informative agenda which covers the most pertinent subjects impacting CSD services. The hosting of this event stems from DFM’s devotion to share expertise and keep participants informed on the success story of CSD service at DFM which has 800,000 registered local, regional and international investors. The DFM Clearing, Settlement and Depository Division arm of DFM has always been at the forefront of the development process in this sector over the years as we have successfully introduced enormous innovations which caters to investors evolving needs including the stock portfolio inquiry service over the phone or online, the eForms service as well as the revolutionary iVESTOR Card for instant electronic cash dividend payments.”
“DFM CSD also spearheaded improvement initiatives for the UAE clearing and settlement infrastructure which culminated in the upgrade of the UAE markets from Frontier Market to Emerging Market by the MSCI.”Maryam Fekri concluded.
It’s noteworthy that AMEDA currently includes 29 depositories and financial institutions from the Middle East and Africa including, but not limited to, Dubai Financial Market, Abu Dhabi Securities Market, Misr for Central Clearing, Depository & Registry from Egypt, Kuwait Clearing Company, Securities Depository Center of Jordan, MIDCLEAR S.A.L of Lebanon, Qatar CSD, Central Depository & Settlement of Mauritius, Muscat Depository & Securities Registration of Oman, Tunisian Central Depository, MAROCLEAR of Morocco, Central Securities Clearing System of Nigeria, Palestine Securities Exchange, Bahrain Stock Exchange, Tadawul Financial Market of Saudi Arabia, Algerie Clearing SPA of Algeria and Strate Limited of the Republic of South Africa.