Regulatory Alerts2014-01-01
Board of Directors Decision No. 131 of 2014 on Purchase Bid Exemption Controls
The Financial Regulatory Authority issued Board of Directors Decision No. 131 of 2014 to establish standardized controls for exempting specific procurement activities from mandatory competitive bidding requirements. The regulation defines the precise criteria, approval thresholds, and documentation necessary for entities to legally bypass standard purchase tender processes. It mandates strict internal oversight and record-keeping to ensure that all granted exemptions align with established financial governance and anti-corruption standards.
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