Depository Center launches its strategic plan for the years 2024-2026

The Securities Depository Center launched its strategic plan for the years 2024-2026, as part of its endeavor to strengthen its leading position among the regional depository centers and to achieve the national and sectoral goals set by the Economic Modernization Vision 2025, which came in implementation of the speeches of the Supreme Throne to be a reference for the center’s strategic planning and based on the outcomes SWOT analysis and PESTLE analysis, which includes an analysis of the political, economic, social, technological, environmental and legal environment surrounding the center.

The plan is based on the Center’s achievements during its previous plan, which would harmonize with international standards and best practices that govern the securities industry, reduce the risks facing the Center, optimal investment in human resources, and provide new digital and financial services.

The strategic plan for the years 2024-2026, which was prepared according to a participatory approach with its employees and partners, aims to increase the reliability and competitiveness of the Center’s electronic system (SCORPIO), by obtaining an ISO accreditation certificate for the Center’s electronic system and its sub- and support systems. The Center will also work to improve and enhance the technology infrastructure used to protect Systems and data from cyber threats, in addition to the development of new financial services, including implementing a mechanism for lending and borrowing securities and short selling, which works to enhance liquidity and market efficiency. It will also work to create a specialized system for managing the government securities registry in application of international standards for depositing and settling bonds , The Depository center will also work to enhance cooperation with international and regional organizations related to the securities industry with the aim of finding mechanisms for continuous modernization to develop services and procedures related to registration, deposit, clearing and settlement in accordance with international best practices.