Riyadh, 16 October 2023: The Securities Depositary Center Company (Edaa) welcomes Standard Chartered Capital as a custody member. Standard Chartered Capital company is a 100% owned subsidiary of Standard Chartered PLC, a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64 countries.   

The custody membership joining ceremony was attended by Mr. Raed Alhumaid, CEO of The Securities Depository Center Company (Edaa), and Mr. Saqib Ahmad, CEO of Standard Chartered Capital at Saudi Arabia.

Speaking on the occasion, Raed Alhumaid, CEO of The Securities Depository Center Company (Edaa), said, "We welcome Standard Chartered Capital, who has now joined as a Custody Member. With the inclusion of Standard Chartered Capital, Edaa marks a significant step in advancing the Saudi capital market. This expansion not only broadens access to our services, given Standard Chartered Capital’s footprint, but also enhances our ability to provide exceptional services to our esteemed clients."

Saqib Ahmad, CEO of Standard Chartered Capital at Saudi Arabia, commented, "Our joining as a custody member marks a significant milestone for Standard Chartered Capital in the Kingdom. It provides an opportunity for us to contribute our expertise and tailored solutions to the progression of post-trade services within the Saudi capital market. We look forward to a close and productive relationship with Edaa, leveraging our global presence to deliver unmatched custodial services."

By joining as a custody member, Standard Chartered Capital is poised to play a pivotal role in streamlining post-trade processes, ensuring the secure safekeeping and settlement of assets, and facilitating the seamless transferability of securities.