ArabFinance: The Financial Regulatory Authority (FRA) has issued a circulation mandating companies operating in the non-banking financial sector to provide Environmental, Social, and Governance (ESG) and Task Force on Climate-related Financial Disclosures (TCFD) quarterly compliance reports before April 10th 2022.

FRA is mandating companies to report quarterly updates on their performance regarding compliance to ESG and TCFD requirements before the official submission of their reports at the end of the financial year.

On a similar note, the FRA’s board of directors approved setting rules and regulations for establishment of fintech companies to be announced this week.
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