Regulatory Alerts2019-01-01
General Authority for Financial Supervision Board of Directors Decision No. (113) of 2019 (Updated Version in 2020)
The General Authority for Financial Supervision (GAFS) issued Decision No. 113 of 2019 to establish an initial list of twelve accredited international experts and consulting firms authorized to evaluate Green Projects and verify the alignment of Green Bond proceeds with Clean Environment standards. The decision mandates that all relevant market participants must exclusively rely on reports from these designated International Environmental Auditors for compliance assessments. This regulatory framework was subsequently updated in 2020 to formally add Global Sustain to the approved roster and to dictate its publication and enforcement procedures.
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