Egypt’s Securities Depository Center Starts Linkage With Moroccan, Tunisian Counterparts

Mohamed Abdel-Salam, the Chairman of Misr for Central Clearing, Depository and Registry, noted that the MCDR has begun to take positive steps towards linking up with its counterparts in Morocco and Tunisia.

He told ‘Amwal Al Ghad’ that this comes in the wake of a decree from the Africa & Middle East Depositories Association (AMEDA) stressing the need for the GCC countries and the North Africa region to be linked with Egypt’s MCDR, as well as the other African securities depository centers through South Africa’s Strate Ltd.

Abdel-Salam stated that MCDR has already managed to link up with South Africa’s Central Securities Depository (Strate), which is currently following up the transactions carried out by the investors in the Egyptian and South African markets, he explained.

The MCDR Chairman said Egypt has started to link up with southern Africa countries, especially because of their key role in linking with other African markets. The MCDR will therefore continue linking up with the Arab securities depository centers.

Abdel-Salam referred that the MCDR has also managed to link up with a number of Arab countries such as Lebanon, Kuwait and Abu Dhabi. MCDR is currently working on linking up with the other Arab countries and the North African region, he noted.