The Egyptian Central Securities Depository (ECSD) is the government's arm that is responsible for the depository, clearing, and settlement of government debt Instruments.

It was established in 2021 as an Egyptian joint-stock company under the provisions of Capital Market Law No. 95 for the year 1992, and Central Depository & Registry Law No. 143 for the year 2020, amending Law No. 93 for year 2000.

ECSD has an authorized capital of EGP 3 billion, issued & paid-up capital of EGP 1 billion , with the following shareholding structure:

Central Bank of Egypt (CBE): 70%

Ministry of Finance (MoF): 30%

ECSD is licensed by the Financial Regulatory Authority (FRA).

Board of Directors: 

Mr. Rami Aboulnaga, Non-Executive Chairman, representing the CBE.

Mr. Yasser Zaazaa, Managing Director and CEO, representing the CBE.

Dr. Zeyad Bahaa ElDin, Non-Executive Board Member, representing the CBE. 

Ms. Zakeya Ibrahim, Non-Executive Board Member, representing the CBE.

Mr. Ehab Nasr, Non-Executive Board Member, representing the CBE.

Ms. Nevine Mansour, Non-Executive Board Member, representing the MoF.

Mr. Mohamed Youssef, Independent Board Member.

Manage the depository, clearing, and settlements related to government debt instruments through a unified legal entity, in line with international best practices. 

Process daily operations, including settlements of the secondary market transactions, Corporate Action (CA) events, as well as handling pledges and freezes on the back of legal and administrative seizure of government debt instruments, which include, but are not limited to, government bonds (G-Bonds) and treasury bills (T-Bills).

Securities settlements and corporate action payments take place at the end of the beneficiary level using the Unified Identification Code (UIC). 

Calculate and collect the withholding taxes on behalf of the Egyptian Tax Authority (ETA), according to the published decrees on this matter.

Act as a Central Securities Depository (CSD) of government debt instruments for the Egyptian market.

Serve as a clearing and settlement house for all secondary market related transactions (Delivery Versus Payment “DVP” with No-Change of Beneficial Owner “NCBO”, and Free of Payment “FoP” portfolio transfers).

Process corporate actions (Interest and redemptions) on behalf of the MoF. 

Function as a central tax agent by collecting the tax amount on the back of secondary market transactions, interest payments, and redemption proceeds, while crediting the tax amount to the ETA. This includes utilizing a pro-rata tax methodology for withholding tax and calculating capital gains tax without crediting it.

Collect trading fees for the Egyptian Exchange (EGX) and the FRA.

Perform pledging and de-pledging operations on government debt instruments registered in the CSD system, where the debtor is the pledgor and the creditor (typically a bank) is the pledgee.

Execute freezes based on legal and administrative seizure decisions, etc., as well as enabling custodians to freeze G-Bonds and/or T-Bills, utilizing various types of freezing. 

Collect the relevant ECSD fees and charges from custodians, in accordance with the approved fee structure.