Regulatory and Policy Development Consultancy — Ministry of Finance

The Ministry of Finance REQUEST FOR EXPRESSION OF INTEREST (REOI) |

Country: |

Federal Government of Somalia (FGS) |

Name of the Project: |

Somalia Capacity Advancement, Livelihood and Entrepreneurship, through Digital Uplift Project (SCALED-UP), |

Assignment Title: |

Consultancy service to Regulatory and Policy Development Consultancy (Firm) |

Project ID: |

P168115 |

Deadline for submission of EOI |

17th May 2025 4:00pm |

Individual/Firm: |

firm Selection |

Ref No. SO-MOF-473734-CS-CQS 1. Background: The Federal Republic of Somalia has received World Bank funding for the SCALED-UP project, which aims to improve access to digital financial and government services, focusing on entrepreneurship and women's employment. A portion of the funds will support consultancy services for regulatory and policy development. The Central Bank of Somalia (CBS) seeks to strengthen its regulatory oversight by developing a modern, comprehensive framework to address current gaps and align with international standards. This effort is part of a broader financial sector reform to enhance stability, transparency, efficiency, and compliance. 2. Responsibilities: The consultancy aims to assist the Central Bank of Somalia (CBS) in drafting new, context-specific financial regulations aligned with international standards, promote sustainable economic growth through a balanced regulatory framework that fosters inclusion, stability, and innovation; and build the capacity of CBS staff through training and knowledge transfer for effective regulation implementation and oversight. All other specific tasks detailed in the Terms of Reference (TOR) for the assignment can be found at the following website link: https://mof.gov.so/publications/tor-regulatory-and-policy-development-consultancy-cbs 3. Duration: The firm is expected to complete the proposed assignment within 6 Months. 4. The Ministry of Finance invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.). The shortlisting criteria are as follows: • Core business of the firm: Extensive experience with a minimum of 8 years in business (General experience in developing and drafting financial sector laws, regulations, and guidelines.) • Specific experience in successfully implementing similar assignments. A Successful track record of completion of similar projects (At least two similar from Regulatory authorities linked to implementing legal drafting and legal review). The Consultant shall provide the name and contact address of the Client (office and e-mail address and telephone number), date(s) of execution, name (s) of lead and associate firms, contract amount, and financing sources. • Experience of relevant services in an environment similar to that of Somalia and • Technical and managerial organization of the firm (provide only the structure of the organization). Do not provide CVs of key staff. Key experts will not be evaluated at the shortlisting stage. 5. The attention of interested Consultants is drawn to section III, para 3.14,3.16 & 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers: Procurement in Investment Projects Financing Goods, Works, Non-Consulting and Consulting Services dated in February 2025 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. 6. Consultants may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected 7. A Consultant will be selected under the Consultant Qualification Selection (CQS) method set out in the Procurement Regulations. 8. Interested Consultants may obtain further information (in person or by e-mail) at the address below during office hours from 8.00 a.m. - 4.00 p.m. Saturday to Thursday except on public holidays. 9. Deadline for submission: Expressions of interest should be delivered in a written form to the address below (in person, or by e-mail) by 17th May 2025 4:00pm Attention; Project Coordinator SCALED-UP Project Ministry of Finance Federal Government of Somalia Shangani District, Mogadishu, Somalia Email Address: bid.scaledup@piu.mof.gov.so Cc: Procurement@centralbank.gov.so