How much reputational value is added to a journal by being indexed in various abstracting and indexing (A&I) databases?
Reputation of a journal matters for two at least two things. The first is whether a library will subscribe to a journal. If you are looking for subscriptions, the more places you are indexed, the better. As your journal is open access, libraries are unlikely to pay money to subscribe, so I do not think this matters. The second is whether academics are willing to publish in the journal. I think serious academics choose journals based on what has been published in the journal in the past. Indexing is like advertising: it might make me think about publishing in the journal, but if everything in the journal is crap, I am not going to publish there.

As for faculty recognised journals, this sound fishy to me and I hope you are not talking about mainstream Western universities. Presumably, in these crazy faculties, if a researcher thinks your journal is good quality, they will fight to get the journal recognised regardless of where it is indexed.