🇸🇴

Somalia

ocds-bidanga-SO-OP00329958

activetender

Financial Sector Expert for CBS

Deadline

January 6, 2025

Closed
Published on December 21, 2024 at 12:00 AMModified on June 12, 2026 at 02:39 PM

Key information

Type
Audit & Finance
Procuring Entity
Federal Republic of Somalia, Ministry of Finance, Office of the Director General
Location
🇸🇴 Somalia
Deadline
January 6, 2025 at 12:00 AMClosed
Estimated Value
Not disclosed
Language of Notice
English

Description

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:Financial Sector Expert – Central Bank of Somalia (Individual Consultant)Project ID:P168115
Individual/Firm:Individual SelectionDeadline for submission of EOI6th January 2025 4:00PM
Ref No.SO-MOF-458512-CS-INDV1. Background: The Federal Republic of Somalia has received financing from the World Bank for the Somalia Capacity Advancement, Livelihood, and Entrepreneurship through Digital Uplift (SCALED-UP) Project. The Central Bank is beneficiary of SCALED-UP). The project aims to enhance access to digital financial and government services, focusing on helping women entrepreneurs and workers. It consists of three parts: strengthening institutions, enabling financial and digital services, and project management. The Central Bank of Somalia now intends to apply part of the proceeds of the above project to finance the position of the Financial Sector Expert (Individual Consultant) at Central Bank of Somalia2 Responsibilities: The Financial Sector Expert will Review and assess the regulatory gaps in the current regulatory framework for banks and non-banking divisions, such as regulations, guidelines manuals, and supporting templates, and addressing key bottlenecks in line with international and regional best practices; Advise; CBS senior management on financial sector initiatives and interventions; Enhance the role of fintech in promoting financial inclusion and access in Somalia; Participate in the development of a new financial sector development roadmap to facilitate the implementation of the CBS strategy; Build the capacity of CBS staff to fulfill the bank’s mandate regarding financial sector development, and provide training on key prudential requirements to banks and non-banks financial institutions. . All other specific tasks detailed in the Terms of Reference (TOR) for the assignment that can be found at the following website: https://mof.gov.so/publications/terms-reference-financial-sector-expert3. Duration: The proposed duration for the assignment is Twelve Months (12) calendar months from starts date.4. Selection Criteria: The selection shall be based on qualification, experience and skills of the candidate and followed by an interview. The qualifications, experience and competencies include:• Education and Qualifications: A minimum of an MBA, MA, or MSc in Finance, Economics or a related discipline. Candidates with additional professional qualifications such as ACCA, CPFA, or CPA will have an added advantage.• Experience: At least 10 years of financial sector experience, specifically in the areas of legal/regulatory reviews for the financial sector, financial sector development research, banking and non-bank financial institutions supervisions, financial management reporting, including IFRS compliance or auditing, and the ability to build the capacities of central banks and financial institutions.• Industry Background: Proven experience in financial institutions, multilateral development banks, or other financial regulatory bodies is essential.• International Experience: Experience working in similar developing countries is required.• Language and Communication: Exceptional command of the English language, both spoken and written, along with excellent communication skills. Somali Language is desirable.• Organizational Skills: Strong ability to organize and manage projects, with excellent reporting and coordination skills.• Leadership and Technical Expertise: Demonstrated leadership skills, technical competence, and professional capabilities for the timely implementation, coordination, and management of activities5. The Ministry of Ministry of Finance now invites eligible consulting (“Consultants”) to indicate their interest in providing the above-mentioned Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services and furnish the Curriculum Vitae (CV).6. 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 September 2023 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.7. A Consultant will be selected in accordance with the Individual Consultant method set out in the World Bank Procurement Regulations.8. Interested Consultant 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 6th January 2025 4:00PM local Time.AttentionProject Coordinator, SCALED-UP Project,Ministry of Finance, Federal Government of Somalia, Shangani District, Mogadishu, SomaliaEmail Address: [email protected]Copy E-mail: [email protected]

Tender Timeline

  1. Publication

    December 21, 2024

  2. Bid Submission Deadline

    January 6, 2025

  3. Evaluation & Award

    Pending

  4. Contract Signature

    Pending

Procuring Entity

Procuring Entity
Federal Republic of Somalia, Ministry of Finance, Office of the Director General
Country
Somalia
Contact person
Abukar Osman
Email
[email protected]
Phone
6176352

Tender Documents

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