CSDI RE-ELECTED AS ACG EXECUTIVE COMMITTEE MEMBER
CSDI is re-elected as executive committee member of the Asia-Pacific CSD Group (ACG) on 1 August, 2019.
Central Securities Depository of Iran has been re-elected as a member of the Executive Board of the Asia-Pacific CSD Group (ACG) on 1 August, 2019.
Following the election of the three voted members of the ACG Executive Committee and as the result of the Non-physical Extraordinary General Meeting that ended on July 31, 2019, the ACG Secretariat has confirmed that all votes received from ACG member organizations were valid.
ACG Secretariat had received 19 voting sheets out of 35 ACG member organizations during a recent two-week voting period that took place from July 17 to July 31, 2019. Thus, pursuant to the Article 18.104.22.168 of the ACG Charter, the quorum for the Meeting had been satisfied.
Top three applicants with the most votes that became the voted members of the ACG Executive Committee based on the votes were Central Securities Depository of Iran (CSDI), Central Depository Services (India) Limited (CDSL) and Singapore Exchange Ltd (SGX) each garnering 18, 17 and 16 votes respectively.
Winning the vote, CSDI will reserve its seat at the Executive Committee for further three years, ending in 2022.
The result reflects the community's great confidence in CSDI and the high status that Iran's sole depository company enjoys at the Asia and Pacific level.
CSDI Chief Executive Officer, Hossein Fahimi, has expressing gratitude to all members that supported CSDI in the elections.
CSDI is currently also serving as the Vice Chair of the EC as well.
The Central Securities Depository of Iran joined the ACG in 2013. In the 22nd annual general meeting of the ACG in Sari Lanka last November, Iran was elected vice chairman of the group with a majority vote.
The Asia-Pacific Central Securities Depository Group (ACG) was formed in November 1997 as an informal international organization to help facilitate the exchange of information and promote assistance among member securities depositories and clearing organizations in the Asia Pacific region.
AGC with more than 30 members including China, South Korea, Australia, New Zealand, Japan, Indonesia, Malaysia, India, Bangladesh, Hong Kong, Kazakhstan, Maldives, Mongolia, Singapore, the Philippines, Sri Lanka, Taiwan, Thailand, Uzbekistan and Iran, is one of the credible regional syndicates.
Release Date: 2019-08-01