AMEDA To Establish Strategic Data Centre In Egypt For Member States

2024-05-28 04:14:47

(MENAFN- Daily News Egypt) Abdullah Abdin, President of the Africa and Middle East Depositories Association (AMEDA), has announced a strategic goal for the organization: the establishment of a data centre serving all member countries in Africa and the Middle East, with its main headquarters in Egypt.

Egypt's role as a permanent central hub for AMEDA has been solidified, particularly after obtaining the necessary licenses from the Egyptian Ministry of Foreign Affairs. This move supports AMEDA's current initiatives and ensures seamless operations across all markets by facilitating information exchange and expertise sharing among member states.

Egypt's strengths extend beyond technical aspects. Its unique strategic location, bridging African and Middle Eastern markets, enhances communication and cooperation among member countries. Additionally, Egypt benefits from significant infrastructure advancements, robust logistical solutions, and progress in technology and administration, ensuring sophisticated and sustainable support for member data.

AMEDA's choice of Egypt as its main centre traces back to the organization's establishment in 2005 during the CSD8 International Conference. This decision reinforces Egypt's international and regional role in promoting collaboration and harmony among its members.

Nearly 19 years since its inception, AMEDA now boasts over 40 members, with additional countries expressing interest in joining. The organization remains committed to strengthening cooperation frameworks among member states, supporting the adoption of cutting-edge policies related to central depository services, post-trade services, and active participation in regional and global organizations. These efforts contribute to the development of financial markets, keeping pace with global changes.

AMEDA, founded on 27 April 2005, during the CSD8 International Conference, serves as a non-profit organization composed of central depository companies from Africa and the Middle East. Its mission is to promote cooperation and harmony among members, working toward shared objectives. Currently, AMEDA includes 40 members from more than 30 countries.

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