Securities Depository Center (SDC) and STS sign agreement

The agreement will see STS construct and furnish 3 sites; namely, the main site, Business Continuity site and Disaster Recovery site.

The agreement will also see STS develop comprehensive solutions and provide full installation of the aforementioned specialized servers and their accompanying systems, in addition to internal and external communication networks based on IBM technologies.

Samir Jradat, Executive Director at SDC stated: "this project will increase the efficiency of the main site expected to grow at an exponential rate according to the latest international standards, which will guarantee high-end services and unequivocal service-provision to the public."

Also on the agenda is the provision of high security measures for ownership rights of the securities, and an increased speed in securities retrieval process in emergency cases.

All this comes in accordance with the latest international standards which will land the center a high rank on the international scene.

Ramzi Zeine, STS Executive Chairman stated: "STS values the SDC initiative to commission STS on this large-scale project which is considered one of the largest projects on a national scale and unique in the Middle East region. This clearly comes in accordance with STS's own vision to gain its clientele's trust, instigating in turn a perpetual rising to the occasion."