REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTANT SERVICES – SELECTION OF FIRMS)

COUNTRY: Nigeria

NAME OF PROJECT: Islamic Finance Grant on the Enhancement of the Regulatory and Supervisory Capacity of the Central Bank of Nigeria

SECTOR(S): Islamic Banking and Finance

CONSULTING SERVICES: Consulting Services for Development of Shari'ah-Compliant Treasury and Liquidity Management Instruments for Non-Interest (Islamic) Banks with a Particular Interest in Islamic Money Market Instruments

MODE OF FINANCING: Islamic Finance Grant

FINANCING NO: NGA1020

 

The Central Bank of Nigeria (CBN) has requested the Islamic Development Bank (hereinafter the IsDB) and the IsDB Institute to provide technical assistance (TA) for enhancing regulatory and supervisory framework for non-interest banks in Nigeria and intends to apply part of the proceeds for consultant services.

The services include to assist Central Bank of Nigeria in Development of Shari'ah-compliant treasury and liquidity management instruments for non-interest (Islamic) banks with a particular interest in Islamic money market instruments. Implementation period will be 9 - 12 months with the expected start date 1 January 2025.

The draft TOR for the assignment is attached to Annex-1.

CBN now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the listed services in the draft ToR. Interested consultants must provide specific information, which demonstrates that they are fully qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.) and undertaking overview report and preparing a draft of amendments into the existing regulatory framework and implementation guidelines for the Central Bank of Nigeria.

The shortlisting criteria / sub-criteria are:

(a) The Consultant should demonstrate having experience in delivering consultancy services for development of (i) Islamic money market instruments; (ii) Shari’ah governance framework and Shari’ah auditing mechanisms and manuals, (iii) conversion guidelines for conventional banks to transform into Islamic banking; and (d) training industry stakeholders on the above topics.

(b) Proven record of successful similar consultancy services delivered (at least 3 in the past 5 years) for the benefit of a country’s central bank, ministries, or related Government bodies.

(c) The firm should demonstrate technical and managerial capabilities to successfully execute the assignment through a brief presentation of the firm’s management structure and number of permanent staff.

 

(d) The firm should demonstrate capabilities and experience in delivering the expectations outlined in the draft TOR in Annex 1.

(e) Key Experts will not be evaluated at the shortlisting stage

The attention of interested Consultants is drawn to Paragraphs, 1.23, and 1.24 of the Guidelines for Procurement of Consultant Services under Islamic Development Bank Project Financing (the “Procurement Guidelines”), setting forth IsDB’s policy on conflict of interest: https://www.isdb.org/project-procurement/sites/pproc/files/documents/PPR%20Guidelines-Consultants-ENG.pdf   

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.

A consultant will be selected in accordance with the Consultant Qualification Selection (CQS) from IsDB MCs method as set out in the Procurement Guidelines.

Interested consultants may obtain further information at the address below during office hours; 8:30 to 16:30 hours Saudi Arabia Local Time.

Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) by the date of 16 December 2024.

 

THE ISLAMIC DEVELOPMENT BANK INSTITUTE

Attention: The Islamic Development Bank Institute

Address: 8111 King Khalid Street, Al Nuzlah Al Yamania District, Unit no. 1, Jeddah 22332-2444, Kingdom of Saudi Arabia 

Email: isdbinstitute@isdb.org and info@isdbinstitute.org