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Bahrain Bourse Hosts a Regional Meeting for AMEDA

The 20thMeeting for Africa & Middle East Depositories Association (AMEDA) has been inaugurated on Sunday, 9th of November 2014at the Kingdom of Bahrain and hosted by Bahrain Bourse during 9th – 10th November with the participation of more than 50 delegates representing 22 countries.

Shaikh Khalifa Bin Ebrahim Al Khalifa, CEO of Bahrain Bourse expressed his delightedness for hostingAMEDA’s 20thmeeting in Bahrain, wishing it all the success. Shaikh Khalifa said, “Those meetings are important in facilitating the exchange of experience and expertise among parties in the Central Depositories field, which in turn contributes to supporting their role in developing the capital markets sector in the region.”

Shaikh Khalifa added, “Bahrain Bourse is committed to taking all the necessary steps to provide high quality services in the field of central depository to its clients, and is keen to apply international standards in all aspects of its work in order to meet that the needs and expectations of its investors and issuers.

Mr. Mohamed Abdel Salam, Chairman and Managing Director of AMEDA said that having Bahrain, represented by Bahrain Bourse as the host of this meeting reflects the vital and important role that Bahrain Bourse plays in the association and its activities, especially with the development of Bahrain Bourse’s services provided to its clients which we wish to continue and developing the upcoming period. Mr. Abdel Salamalso stressed on the role played by AMEDA in providing expertise and experience to its membersto make them more capable of contributing to the development of their financial markets and attracting foreign investments in their countries.

Mr. Othman Al Issa, CEO of Kuwait Clearing Co. said: “AMEDA’s 20thMeeting was well-organized by Bahrain Bourse. I would like to thank Shaikh Khalifa bin Ebrahim Al-Khalifa, the CEO of the Bourse along with Mr. Abdulla Abdin, Director of CSD for all the efforts they have put in organizing this meeting, and of course their hospitality for all the participants who attended the meeting. The topics discussed during the meeting covered significant areas in the field of Central Securities Depository and reflects the organization of Mr. Mohamed Abdel Salam, and all those who managed the meeting.

Mr. Abdulla Al-Nabhani, General Manager of Muscat Clearing & Depository Company said: “Muscat Clearing & Depository Co. is one of the oldest members of the AMEDA.AMEDA started with six members and now it currently includes more than 25 members. AMEDA’s meetings usually represent a unique opportunity for participants to exchange experience and expertise and keep them informed on the latest developments in the CSD field. The presentations made during the meeting, by both specialized system providers or those specializing in technical planning and development share the experience of markets in the region and the obstacles they faced during implementing a certain system or project that encouraged AMEDA members to develop its systems.”

Mr. Al-Nabhani added, “We hope to have different schools and markets such as the South African Market along with the Egyptian and GCC markets that provided experience and expertise that can benefit us and gives us the experience of dealing with new or newly-tested products that has been implemented in one of those markets. AMEDA unifies the rules and legislations of all members in a way that facilitates the exchange of knowledge between its members.”

It is noteworthy that 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. AMEDA also provides support to its members to implement such practices, and it currently includes 37 members representing central securities depositories and securities-related financial institutions from the Middle East and Africa.