الهيئة العامة للرقابة المالية

• The decree establishes the Regional Center for Sustainable Finance and Carbon Markets as a specialized research, technical and training hub. It creates a unified framework to build institutional capacity, track ESG metrics, strengthen carbon markets and accelerate climate disclosures.

Dr. Islam Azzam, FRA Chairman:

• “This decree enables the Center to deliver an end-to-end knowledge platform and a vast data hub, setting the foundation for high-impact training and specialized advisory services”.

The Board of Directors of the Financial Services Institute (FSI), chaired by Dr. Islam Azzam, FRA Chairman has issued a comprehensive regulatory decree reorganizing the Regional Center for Sustainable Finance and Carbon Markets (RCSF). The decision significantly broadens the Center’s operational scope to align with the rapid expansion of sustainable finance, climate investment, and carbon trading markets across the region.

The decree establishes a clear institutional definition for the Center, designating it as the “technical, research, and training institute of excellence for the Financial Services Institute (FSI) in sustainable finance.” Far beyond providing traditional training programs, the Center’s expanded mandate encompasses capacity building, applied research and studies, technical advisory services and the production of guidelines, databases, benchmark indicators and professional certification programs—positioning it as a specialized knowledge and technical platform in sustainable finance.

The decree maintains a clear distinction between knowledge generation and regulatory authority. The Center’s mandate does not impinge upon the regulatory, supervisory, legislative  or oversight powers vested in the Financial Regulatory Authority (FRA) or its Central Department for Sustainable Development.

The decree specifies that while the Center is responsible for producing research, guidelines, training modules, and advisory services, it does not replace the governing authorities tasked with issuing binding regulations or exercising supervisory control.

Additionally, it outlines a comprehensive scope of work for the Center, including designing and delivering training programs, conducting applied research and studies, developing technical guidelines and working papers, establishing databases, hosting conferences, driving capacity building, providing technical and advisory services and formulating professional certification programs and key performance indicators (KPIs).

The Center’s expanded mandate covers driving innovation in sustainable finance instruments, designing professional certification programs, training instructors and domain experts, and establishing a Sustainable Finance Observatory alongside a digital library, secure repository and specialized market databases. It also encompasses developing standardized curricula, training manuals and applied research frameworks.

Moving beyond traditional notions of sustainable finance, the decree embeds a full suite of tasks tied to the low-carbon economy and carbon markets. These include building carbon expert capacity, training on carbon market mechanics, emissions reporting, and climate disclosure standards, as well as publishing Monitoring, Reporting and Verification (MRV) training guides, empowering carbon project developers and launching accreditation programs for climate finance professionals.

This structural pivot transforms the Center from a general awareness and training body into a specialized professional framework—one centered on measurement, disclosure, verification and carbon project development to build a pool of qualified experts capable of navigating new instruments and market frameworks.

The Center’s expanded scope also includes qualifying trainers and experts, designing professional certification programs, training carbon specialists, establishing accreditation frameworks for climate finance professionals and building technical capacity for carbon project developers.

To strengthen institutional governance, the decree establishes an Advisory Board comprising domain expert, appointed by the Financial Services Institute (FSI) Board upon nomination by its Chairman for a renewable three-year term. The Advisory Board will serve in a consulting capacity, providing strategic counsel and recommendations on the Center’s operational roadmap.

The Center’s day-to-day operations will be led by an Executive Director holding the rank of Head of Central Department, selected for their demonstrated expertise in sustainable finance. The Executive Director is tasked with managing operations, overseeing staff, implementing approved Advisory Board recommendations and formulating annual action plans and training programs in line with policy directions set by FRA and FSI Board.

Additionally, the Executive Director will propose talent acquisition policies, draft annual budget requests, supervise periodic ESG and responsible investment reporting, negotiate cooperation agreements and MoUs with consulting and training institutions, oversee conferences and workshops, prepare the Center’s annual performance report and recommend service fee schedules.

Dr. Islam Azzam, FRA Chairman noted that the decree enables the Center to deliver a complete knowledge value chain—stretching from primary research and curriculum design to training, professional accreditation, data repository development and specialized market observatories. This comprehensive information infrastructure will directly reinforce training, research, and advisory services.

He affirmed that the Center’s upcoming deliverables—including specialized programs, benchmark performance indicators, data platforms and certification tracks—will serve as a key driver of progress for sustainable finance and carbon markets across both national and regional landscapes.