Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse, has announced the re-election of Abdulla Abdin, its Chief Operating Officer, as President of the Africa and Middle East Depositories Association (Ameda). 

 

Abdin was also elected as Vice Chair of the World Forum of Central Securities Depositories (WFC) during the Forum’s recent Board meeting held in Prague. 

 

Abdin brings to Ameda and World Forum of Central Securities Depositories a wealth of experience. With his comprehensive understanding of the industry and leadership abilities, Abdin has been entrusted with the role of promoting collaboration and advancing Ameda’s agenda. 

 

Expanded porfolio

This appointment expands Abdin's portfolio within key regional associations and federations in central depository, as he was also appointed Chairman of the WFC in 2021 and President of the Ameda in 2020.

 

Abdin said: “I am honoured by these appointments and would like to thank the Board of Directors of the Africa and Middle East Depositories Association (Ameda) and the World Forum of Central Securities Depositories (WFC) for their vote of confidence. Building on Bahrain Clear's dedication to actively participate in regional and global CSD initiatives, this appointment reinforces our commitment to broadening our company's infrastructure and providing enhanced services in line with international standards.” 

 

“I am keen to be working with the Board along with other CSD professionals worldwide to promote innovation, strengthen market infrastructure, and develop operational excellence on a regional and international level,” Abdin added.

 

Providing a platform

Ameda was founded on April 27, 2005, and held its inaugural meeting in New York before the CSD 8th conference. This non-profit organisation is made up of Central Securities Depositories and Clearing Houses in Africa and the Middle East. The primary objective of Ameda is to provide a platform for its members to exchange information and experiences, while also supporting the development of local markets through mutual cooperation. Additionally, Ameda aims to promote best practices in services such as depository, clearing, settlement, efficiency, risk management, corporate governance, and other related areas on a global scale.

 

The WFC includes five regional CSD associations, which together represent around 135 member CSDs: Asia-Pacific CSD Group, Americas’ Central Securities Depositories Association (ACSDA), Association of Eurasian Central Securities Depositories (AECSD), Africa & Middle East Depositories Association (Ameda), and European Central Securities Depositories Association (ECSDA).-- TradeArabia News Service