Edaa hosts AMEDA 39th annual forum in Doha

Edaa kicked off on Wednesday the Africa & Middle East Depositories Association (AMEDA) 39th Annual Forum, hosted for the first time in Qatar.

Held under the patronage of HE Sheikh Bandar bin Mohamed bin Saoud al-Thani, the Governor of the Qatar Central Bank (QCB), the two-day event gathered over 80 attendees from 30 different countries, including senior officials, banking, and financial stakeholders.

The theme of this year’s forum, ‘The Growing Use of AI at CSDs and Sustainability through New Initiatives While Maintaining Data Security’, underscores the importance of embracing innovation while ensuring the integrity and security of financial systems.

The event commenced with opening remarks from Sheikh Ahmed bin Khalid al-Thani, Assistant Governor of the QCB and chairman of the board of Edaa. Welcoming all delegates and AMEDA members, Edaa CEO Sheikh Saif bin Abdulla al-Thani expressed immense pride in hosting the annual forum in Doha.

Sheikh Saif emphasised the forum’s unique opportunity for engaging discussions, deliberating on the future of the region’s capital markets, and collectively driving transformative change. He also expressed deep gratitude to the QCB governor for gracing the event with his patronage, highlighting the significance of their endeavours.

“Edaa’s membership in AMEDA, an esteemed association renowned for its excellence and collaborative spirit in the securities depository industry, further reinforces our dedication to advancing transformation within the Central Securities Depositories (CSD) market—a central pillar of our strategic vision for the region's capital markets,” Sheikh Saif said.

He said, “Our commitment at Edaa is unwavering — to lead this transformation by ensuring the resilience and adaptability of our market infrastructure to meet the evolving needs of the global investment community. We are steadfast in our pursuit of technological advancements that enhance operational efficiency and security, thereby fostering Qatar's economic growth. Our overarching goal is to propel Qatar towards developed market status, attracting globally competitive companies to participate in our thriving capital market landscape.

“Through strategic initiatives such as expanding cash dividend distribution capabilities, establishing electronic Annual General Forum (E-AGM) mechanisms, and elevating the overall investor experience, we aim not only to meet but exceed the expectations of both local and international investors. As hosts of this year’s AMEDA forum, Edaa is excited to facilitate crucial conversations and collaborations, united in our vision to shape a more integrated and prosperous future for the capital markets of Africa and the Middle East. Together, let us seize this opportunity to create lasting impacts that will resonate across our markets for years to come.”

Abdulla Jaffar Abdin, chief operating officer, Bahrain Clear; chairman, AMEDA; vice-chairman, WFC, said: “Our partnership with Edaa showcases our mutual dedication to promoting innovation and excellence in the CSD sector. The forum highlights our commitment to leading the way in pioneering and environmentally sustainable practices within the CSD industry.

“This year, our focus is on the integration of artificial intelligence (AI) and sustainable initiatives in CSDs, with a strong emphasis on ensuring data and cybersecurity. We are eager to explore the transformative potential of AI, a critical element of the CSD Framework. Our goal is to launch new initiatives that drive progress while safeguarding the security and integrity of data.”

Key highlights of the forum include discussions on AI integration at CSDs, addressing the evolving financial markets by exploring how CSDs can effectively utilise AI to streamline operations, enhance efficiency, and improve risk management. Additionally, the forum emphasised sustainability through new initiatives, focusing on environmental, social, and governance (ESG) considerations to ensure the long-term viability of CSDs within the global financial ecosystem.

Furthermore, data security was a paramount topic, with discussions centred on robust data protection measures and best practices to safeguard sensitive information amidst the prevalent cyber threats and data breaches of today’s era.