Regulatory Alerts2019-01-01
Decision of the Board of Directors of the Authority No. (127) of 2019 Concerning the Register of Experts and Consulting Institutions Authorized to Evaluate and Test Green and Sustainable Projects
The General Authority for Financial Supervision issued Decision No. 127 of 2019 to establish a mandatory register for local experts and consulting firms authorized to evaluate and test green and sustainable projects issuing green bonds. The regulation mandates that all registered entities meet strict general, professional, and operational criteria, including Ministry of Environment registration, a minimum five years of relevant experience, professional liability insurance, and adherence to recognized international green bond standards. Applications undergo a two-week Authority review, and prior criminal convictions or administrative sanctions within the preceding three years will disqualify applicants from conducting supervised green project assessments.