Abu Dhabi and Egypt Clearing House Tie Up within 2 Weeks

Egypt’s Central Clearing, Depository and Registry house (MCDR) is planning to finalize the dual listing framework with  Abu Dhabi Securities Market within the next two weeks.

This comes after MCDR signed a memorandum of understanding with its Abu Dhabi counterpart to enforce a link-up framework designed to enable investors to gain access to shares in major companies on both markets, MCDR chairman Mohamed Abdel-Salam noted on Saturday.

Speaking to Amwal Al Ghad, the Egyptian top official said: “The MCDR-ADSM linkage comes in accordance with the Africa and Middle East Central Depositories Association (AMEDA)’s decree stressing the need for the GCC and North African countries to be linked with Egypt’s MCDR.”