The Securities Depository Center Company (Edaa), a subsidiary of Saudi Tadawul Group (STG), announced the signing of a Memorandum of Understanding (MoU) with the central securities depository of the Republic of Kazakhstan (KCSD).
The MoU establishes a framework for joint cooperation that spans depository services and corporate actions; the exchange of information on market developments; sharing best practices and business models of mutual benefit; exploring a potential bilateral linkage with KCSD to enhance market connectivity; forming joint working groups for specific projects; and organizing knowledge-sharing initiatives.
The agreement underscores both parties’ commitment to advancing post-trade infrastructure and deepening cross-border capital-market connectivity, as well as showcases Edaa’s growing portfolio of international partnerships.
Hanan Alshehri, CEO of Edaa, said in a statement: “This memorandum of understanding marks another important milestone in Edaa’s journey to strengthen cross-border cooperation and expand the Kingdom’s financial market infrastructure. Through this MoU with KCSD, we are creating new opportunities to align global best practices, facilitate knowledge transfer, and ultimately enable greater connectivity for investors and issuers across our markets.”
Yedil Medeu, chair of KCSD, said in a statement: “Kazakhstan CSD sees significant strategic potential in the MENA region, especially in Saudi Arabia capital markets. We are working to establish reliable cooperation channels with its infrastructure, aiming to provide Central Asian investors with broader access to investment opportunities, ensure secure capital flows, and foster liquidity, diversification, and deeper financial integration.”