Iran participates at the 22nd Annual General Meeting of the Asia-Pacific CSD Group in Colombo, Sri Lanka hosted by Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE). The event carried the theme “Fintech – shifting or shaping the future of CSDs.”
The Iranian delegation comprised of two representatives from CSDI including Chief Executive Officer, Hossein Fahimi and International Relations Director, Siavash Azimi.
CSDI President and CEO, Mr. Hossein Fahimi, participated in a high-profile panel discussion on 'Sharing Challenges & Experiences by the Depositories in Adopting Infrastructure with New Technology' on the very first day of the event on Tuesday November 27th in Colombo's The Kingsbury Hotel.
At the symposium, the participants came together to learn about each other’s work, connect with each and others and welcome new initiatives and ideas on the issue.
During the first round of the panel discussion, the CSDI chief presented a brief introduction about the Iranian central depository.
The panel also saw the CSDI official elaborating on a sophisticated version of KYC registration system recently launched in CSDI and how the technology – also known as the Comprehensive Information Gathering System or CIGS - is at the forefront. He further briefed the participants on how advance in this sphere and transparency phenomenon have gone hand-in-hand to the benefit of challenging issues in the financial industry.
"One of the key features of the technology is that it covers the whole capital market in Iran with the ability to register, and update the necessary changes," Fahimi said.
The CSDI CEO, meanwhile, explained how the technology would present itself as a challenge as well. Fahimi went on to say, "We came out to see that the principle of transparency and reliability from the very root of the market which is the investor's identity. The electronic systems must continue to function instantly accessible and error free. To ensure there are no interruptions despite the risks from external events or internal failures, CSDI has established the network which has the capacity to take over responsibility for all aspects of registry, recordkeeping and services that are the responsibility of the CSDI."
The panel concluded with a fruitful Q&A session which was widely welcomed by the audience.
This year, the 2018 ACG General Meeting in Colombo, Sri Lanka marked the second year since Iran was elected to join the Executive Committee of this intercontinental body.
During the event, the ACG Executive Committee decided to elect Central Securities Depository of Iran (CSDI) as the Vice Chairman.
Over 100 foreign delegates representing 19 countries across 25 Depositories and Clearing organizations are in Colombo to decide on key matters relating to ACG policy and activities as well as the future of CSDs in light of new technological developments.
This year, , hosted the 22nd Annual General Meeting of the Asia-Pacific Central Securities Depository Group (ACG) in Sri Lanka from 26th to 28th November.
In 2016, Central Securities Depository of Iran (CSDI) played host to the 20th ACG General Meeting in Tehran with the theme of “Further Collaboration of CSDs in the Evolving Global Business Environment.”
This premier gathering of Central Securities Depositories in Asia-Pacific, has been held annually for 21 consecutive years since 1997, for the purpose of facilitating a platform to make decisions on key matters relating to ACG policy and activities.
ACG is an association of securities depositories and clearing organizations in the Asia Pacific region and was formed in 1997 to facilitate the exchange of information and to promote mutual assistance among its members.
ACG represents Asia on various international forums such as World Forum of CDS’s (WFC), International Securities Services Associations (ISSA), Association of Global Custodian (AGC), and the committee on Payment and Settlement Systems of the International Organization of Securities Commissions (CPSS-IOSCO).
Release Date: 11/27/2018