Abu Dhabi Completes Clearing and Depository Tie-up Action with Egypt’s MCDR

Egypt has recently concluded a dual listing action with Abu Dhabi Securities Market, head of Egyptian Central Clearing, Depository and Registry House told Amwal Al Ghad Sunday.

MCDR chairman Mohamed Abdel-Salam further referred to ongoing testing of all the sides of the joint cooperation between MCDR and ADSM.

This comes after MCDR signed few months ago a memorandum of understanding with its Abu Dhabi counterpart to enforce a link-up framework designed to enable investors to gain access to shares in major companies on both markets.

The MCDR-ADSM linkage 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 elaborated.

Moreover, the Egyptian official stated that MCDR’s upcoming plan includes the completion of another linkage process with its counterparts in Morocco. He expected that the linkage action will be implemented very soon with Morocco.