Cabinet forms Green Initiative Foundation board of trustees, amends domestic pilgrim services law

Custodian of the Two Holy Mosques King Salman bin Abdulaziz

Saudi Arabia’s Cabinet, chaired by King Salman bin Abdulaziz Al Saud, approved today, Jan. 2, the formation of the Green Initiative Foundation’s board of trustees, headed by Crown Prince Mohammed bin Salman.

Ministers of Energy, Foreign Affairs, Environment, Water and Agriculture, Saudi Arabia’s climate envoy, CEO of the Royal Commission for Riyadh City (RCRC), among others, are members of the Green Initiative Foundation. Abdulaziz Tarabzouni was named board secretary.

The Cabinet also authorized Chairman of the Capital Market Authority (CMA) to discuss a draft memorandum of understanding between the Saudi market regulator and China Securities Regulatory Commission (CSRC).

It also endorsed amending the domestic pilgrim services law.

Moreover, leasing and investment in the land plots and establishments overseen by universities will take place as per certain regulations to be approved by Saudi Arabia’s Minister of Education, in coordination with the Ministry of Finance and the Real Estate General Authority (REGA).