Egypt’s Central Securities Depository Eyes Link-up with Morocco Next Month

Egypt’s Central Securities Depository (MCDR) is planning to establish a link-up action with its Moroccan counterpart (Maroclear) next month.

MCDR chairman Mohamed Abdel-Salam revealed Wednesday plans to meet with the Egyptian ambassador to Morocco within next month, aiming to activate a link-up market process with the Maroclear, the Central Depository of Morocco.

This comes in accordance with the Africa and Middle East Central Depositories Association (AMEDA)’s decree stressing the need for the GCC and North African countries to be linked with Egypt’s MCDR.

Abdel Salam also said through link-up processes with other central securities depository houses, his organisation would attract more investors and will expand the trading base not only for Egyptians but for all Arabs as well.

Meanwhile, the Egyptian Central Securities Depository has recently finalised an alliance process with Abu Dhabi Securities Market (ADSM).