The Securities Depository Center Company (Edaa), a subsidiary of Saudi Tadawul Group (STG), announced today 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.
This MoU also showcases Edaa’s growing portfolio of international partnerships and underscores its role in advancing Saudi Arabia’s position as a globally connected capital market, and in line with the aspirations of Vision 2030.
Ms. Hanan Alshehri, CEO of Edaa, said: “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.”
Mr. Yedil Medeu, Chairman of KCSD, said: “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.”
The collaboration between Edaa and KCSD builds on each organization’s commitment to innovation, resilience, and international engagement, paving the way for stronger financial ties between Saudi Arabia and Kazakhstan.
