Iran participates at the 21st General Meeting of the Asia-Pacific CSD Group in Hong Kong, offering proposals for greater transparency and improving the capacity of the ACG in statistics, information collection and reporting as well as for decentralizing relevant ACG activities.
This year the 2017 ACG General Meeting in Hong Kong marked the first year since Iran was elected to join the Executive Committee of this intercontinental body last year.
During the meeting, President and CEO of Central Securities Depository of Iran (CSDI), Dr. MohammadReza Mohseni, took the podium to address the audience and read out the Minutes of the previous Conference held in Tehran, Iran on 5-9 December, 2017 that were agreed upon by the members states.
Further in his remarks, the CSDI CEO stressed that transparency on all issues including the expenditure ceilings and the ability to monitor them would strengthen clarity and add the element of discipline to the system. He went on to say that surveillance, post-program monitoring and post assessment of member countries – in other words - engaging all member states would help to the progress of the Group in its long-term programs. The Minutes of the 2016 ACG GA hosted by Central Securities Depository of Iran also touched upon having the Organization registered as a formal international entity, granting associate membership to institutions as a means to enrich the Forum, applying amendments to the ACG Charter as well as introducing new amendments to Task Force activities among others.
At the Executive Committee meeting, the CSDI President meanwhile proposed initiatives to pave the ground for multilateral cooperation agreements with relevant international counterparts and winning approval from the member countries’ governments and parliaments as a means to gain full credit. The proposals put forth were widely welcomed by the CSDI peers at the EC.
During the ACG 21 GM, which coincided with the 14th World Forum of CSDs (WFC 2017) Conference, the ACG Executive Committee decided to elect Central Depository Company of Pakistan as the Vice Chairman. The election also saw the CSDI vowing its full support to CDC Pakistan.
1-ON-1 MEETINGS ON SIDELINES OF 2017 WFC/ACG-21
The CSDI President and CEO along with Chairman of the Board of Directors, Mr. Hossein Fahimi, met with a number of heads of the member-states and world institutions i.e. Europe’s biggest settlement house for securities, Euroclear, as well as securities depositories of Russia (NSD), Taiwan (TDCC) and South Korea (KSD).
At the meetings, the two sides agreed to carry out joint research and set forth proposals for organizational, expert and technological policies in order to strengthen their own capabilities and identify successful initiatives that may be adapted and applied in regional and international contexts.
ACG is a representative forum of all depositories and clearing houses of the Asia-Pacific region. The group consists of 34 CSDs from 23 countries. ACG is also one of the five members of World Forum of Central Securities Depositories (WFC), which is the global body of depositories and clearing houses, representing all the five regions, namely Asia, Europe, Middle East & Africa, Americas and CIS states.
The WFC conference is a global biennial event that offers information sharing and networking platform for leaders of central securities depositories and clearing houses, regulators and custodians including international banks from across the globe. More than 250 delegates from 58 countries participated in the event.
Last year, Central Securities Depository of Iran (CSDI) played host to the 20th ACG General Meeting in Tehran, Iran during December 5-9. Then, the CSDI has been elected as one of the three Executive Committee members of the Group with majority of votes for a three-year term.
Release Date: 12/5/2017