Financial Markets: Signing of a Memorandum of Understanding Between the Central Securities Depositories of Qatar and UEMOA

Istanbul, October 9, 2024 – The Qatar Central Securities Depository (EDAA) and the Central Depository/Settlement Bank (DC/BR) of the West African Economic and Monetary Union (UEMOA) signed a memorandum of understanding (MoU) on Thursday, October 3, 2024, in Istanbul, Turkey, focusing on the exchange of experiences and expertise.  

This MoU, signed by Mr. Mohammed Khalifa Al-Hetmi, CEO of EDAA, and Mr. Birahim Diouf, CEO of DC/BR UEMOA, outlines several areas of cooperation between the two institutions.  

The signing took place on the sidelines of the Summit of the Association of Eurasian Central Securities Depositories (AECSD) and the Africa & Middle East Depositories Association (AMEDA), held in Istanbul from October 2 to 4, 2024.  

This agreement aligns with the initiatives outlined in the 2021-2025 Business Plan of the Central Depository/Settlement Bank, named Aya, which envisions making DC/BR a world-class market infrastructure for securities management and transaction settlement.  

According to the terms of this MoU, the cooperation will primarily focus on the mutual exchange of non-confidential information regarding products and services offered by both parties, regulations, securities operations, technological innovations, and risk-related matters.  

About DC/BR

DC/BR is a specialized financial institution of UEMOA headquartered in Abidjan, Côte d'Ivoire.  

It ensures the centralization of securities custody for its members, the successful settlement and delivery of transactions, and the payment of corporate actions.  

As a full member of the **Association of National Numbering Agencies (ANNA)**, it is responsible for the securities numbering system in UEMOA. Established in 1996, DC/BR officially commenced its operations on September 16, 1998.  

About EDAA

Edaa is the licensed service provider authorized by the **Qatar Financial Markets Authority (QFMA)** to offer a range of services related to securities and financial instruments. The company’s core services include the custody, clearing, and settlement of securities and other financial instruments listed on the Qatar Stock Exchange.