AMEDA probes depository, clearing house AI use on May 1

By Yomna Yasser On Apr 30, 2024

Africa and Middle East Depositories Association (AMEDA) is gearing up for its 39th Annual Forum, as it will take place in Doha, Qatar on May 1-2.

The theme of this year’s meeting focuses on the growing use of artificial intelligence (AI) at central depository and clearing houses (CSDs), CSDs as well as sustainability through new initiatives while maintaining data security.

The event is set to be a regional and global gathering of decision makers, representing a rich diversity of experts and high-profile officials. It aims to be a melting pot of ideas, insights, and forward-thinking sustainability strategies for the development of the financial markets in the Middle East.

This year’s meeting will be encompassing three critical themes: AI at CSDs with the aim shedding light on the growing adoption of AI within CSDs and how generative AI can enhance efficiency, streamline processes, and drive innovation.

The second theme will reflect sustainability through new initiatives marking the groundbreaking sustainable approaches that ensure the longevity of CSDs while maintaining the highest standards of data security.

However, the third theme will navigate the data security which includes the main procedures of protecting sensitive information and the robust security measures essential to prevent breaches, and maintain integrity.

In this regard, Abdulla Jaffar Abdin, Chief Operating Officer of Bahrain Clear, AMEDA President, and WFC Vice-Chairman, stressed the importance of fostering collaboration between various member countries while pursuing the latest policies aimed at developing CSDs and promoting co-operation between different clearing houses. He added that harnessing AI intelligently and embracing sustainable practices can build resilient CSDs that serve stakeholders effectively.

In the same vein, Riham Khedr, AMEDA Secretary General, expressed her pleasure in hosting AMEDA’s 39th Meeting in Doha. She added that the annual event is vital in fostering co-operation, enhancing innovation, and integrating sustainability measures into various financial operations.

AMEDA was founded on April 27, 2005, and held its inaugural meeting in the CSD 8th conference. This non-profit organisation is made up of central securities depositories and clearing houses in Africa and the Middle East. AMEDA was established as regional and professional forum to support mutual co-operation between its members and achieve its main objectives. Currently, it comprises 40 members from more than 30 countries.