Financial Regulatory Authority expands Regional Center for Sustainable Finance mandates

The Board of Directors of the Financial Services Institute, chaired by Islam Azzam, Chairman of the Financial Regulatory Authority, has issued a new decision to regulate and expand the mandates of the Regional Center for Sustainable Finance and Carbon Markets.

The decision establishes the Center as a technical expertise, research, and training hub for sustainable finance. Its expanded role moves beyond traditional training to include conducting studies, preparing technical guides, developing professional certification programs, and providing consultancy services. The Center will also be responsible for creating databases, performance indicators, and establishing a sustainable finance observatory and digital library.

Furthermore, the Center's scope will cover low-carbon economy and carbon market activities. This includes building the capacity of carbon experts, training on carbon market operations, emission reporting, and climate disclosure standards. It will also develop frameworks for monitoring, reporting, and verification (MRV) and support carbon project developers.

The decision explicitly separates the Center's technical and knowledge-based functions from the regulatory, supervisory, and legislative powers held by the Financial Regulatory Authority and the General Department of Sustainable Development.