The Securities Depository Center, represented by its CEO, Mrs. Sarah Al-Tarawneh, and representatives from the SDC's IT and Legal Departments, participated in the 38th Meeting of the Africa and Middle East Depositories Association (AMEDA) which was held on Tuesday, December 19, 2023, via visual and audio communication channels.

During the meeting, a revision of the decisions taken and approved by AMEDA’s members at the 37th meeting which was held in Prague in May 2023. Major decisions included the revision of the AMEDA internal by-law to reflect best practices, governance, and funding sources, approval of financial statements for the years 2021 and 2022, and the formation of two working committees. The first committee, the Legal Committee, was established to discuss legal matters such as by-laws, governance, and objectives. Its members include representatives from depositories in Jordan, South Africa, Ivory Coast, Egypt, and Tunisia, with Jordan serving as the committee's chair. The second committee is the Finance Committee, with aim of discussing budgets costs, and others. Members of this committee include depositories from Egypt, Nigeria, and Kuwait.

The meeting also discussed the report of the Legal Committee, reviewed the application for membership of the Angolan Securities Depository, and discussed speakers and sponsorship for the programs.

As the chair of the Legal Committee, SDC’s CEO Sarah Tarawneh presented a comprehensive presentation on the legal matters of the AMEDA. The presentation included recommendations for redrafting the administrative and financial by-law to govern  administrative and internal operations. It emphasized enhancing the AMEDA internal governance, recognizing the crucial role of the Board of Directors in making strategic decisions and monitoring performance. The presentation also highlighted the need to define responsibilities for management and staff within the AMEDA and stressed the importance of achieving a balance between revenues and expenses, including maximizing revenue through improved investment.

Mrs. Tarawneh also addressed the necessity of having an internal audit unit in AMEDA to ensure compliance with regulations and laws, as well as to improve performance. She emphasized the importance of forming functional and technical work teams and committees to increase operational efficiency and improve decision quality.

The meeting also discussed updates on the AMEDA's licensing process. The first official meeting was held with the ambassador representing the Egyptian Ministry of Foreign Affairs, responsible for the AMEDA's licensing file assuring that the file is in its final phase for being granted the license and explaining to AMEDA legal consultant various inquiries received by different Egyptian Authorities and how they dealt with them. 

At the end of the meeting, it was agreed to hold the next meeting in Qatar in 2024.At the end of the meeting, it was agreed to hold the next meeting in Qatar in 2024.