Edaa Company, the Securities Depository Center, a subsidiary of the Saudi Tadawul Group, and Ebana Information Technology Company, the leading digital services provider in the financial sector, are pleased to announce a strategic partnership aimed at enhancing the Saudi financial market through innovative digital solutions. This partnership represents an important step forward in our joint efforts to foster a more dynamic and efficient market environment.
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Under this MoU, Edaa and Ibanah will collaborate in the design, development and operation of innovative digital products specifically designed for the capital markets sector in the Kingdom of Saudi Arabia. The first initiative under this partnership will focus on providing an Employee Stock Ownership Plan (ESOP) program for companies.
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Partnership objectives:Using technology to create easier, more efficient and transparent capital markets operations, Providing comprehensive digital solutions for ESOP programs, enhancing corporate governance and employee contributions to company growth, Stimulating market development by providing digital products that meet the evolving needs of investors and companies alike.
Partnership benefits:For the market: enhancing the efficiency of operations and transparency, which contributes to the growth and general stability of the Saudi financial market, For companies: streamlining processes and providing innovative solutions for managing ESOP programs, promoting a culture of ownership and investment among employees and For employees: Improved access to equity participation opportunities, aligning their interests with the long-term success of their companies.
This partnership reflects commitment to driving innovation and excellence in the Saudi financial market. Together, Edaa and Ibanah will set new standards for market operations, benefiting all stakeholders in the financial system.
About Edaa Company
Securities Depository Center Company (“Edaa”) was establish in 2016 as a closed joint stock company in accordance with the Saudi Companies Law. “Edaa” aims to emulate Capital Market Strategic objectives in relation to developing infrastructures and subsequent procedures to execute transactions in alignment with international standards. It also aims to enhance the efficiency of securities deposit and registration services offered by the securities depositary center in alignment with Saudi Vision 2030 through developing a more resourceful environment that fosters excellence within all sectors related to the capital market.
