REPUBLIC OFTHE GAMBIA
Inclusive Growth Promotion Institutional Support Project (IGPISP)
Project Projects Coordination Unit
Ministry of Finance and Economic Affairs
The Quadrangle, Banjul, The Gambia
REQUEST FOR EXPRESSIONS OF INTEREST
RECRUITMENT OF A CONSULTING FIRM TO DEVELOP GUIDELINES FOR NON-BANK FINANCIAL INSTITUTIONS IN CONFORMITY WITH THE CENTRAL BANK OF THE GAMBIA’S NON-BANK FINANCIAL INSTITUTIONS (NBFI) ACT 2016
Country: THE GAMBIA
Project Name: Inclusive Growth Promotion Institutional Support Project (IGPISP)
Sector: Economic and Financial Governance Sector
Financing Agreement reference: 2100155034467
Project ID No.: P-GM-KF0-002
Background
The Government of the Gambia has received financing from the African Development Bank towards the cost of the Inclusive Growth Promotion Institutional Support Project (IGPISP), and intends to apply part of the agreed amount for this grant to payments under the contract Recruitment of a Consulting Firm to develop guidelines for Non-Bank Financial Institutions in conformity with the Central Bank of the Gambia’s Non-Bank Financial Institutions (NDFI) Act 2016.
The Central Bank of the Gambia’s Non-Bank Financial Institution Act, 2016, covers finance companies, microfinance institutions, including Islamic microfinance institutions, saving and credit association and credit union, leasing companies including Islamic leasing, hire purchase and debt financing companies and mortgage lenders. This new law prescribed specific provisions for the regulation and supervision of NBFIs in the country. However, requirements in respect of some of these (particularly Islamic microfinance) were not completely captured in the rules and guidelines. The Central Bank of The Gambia, therefore, intends to engage the service of a Consultancy Firm to develop manual of Guidelines and Instructions based on the new Non-Bank Financial Institutions Act 2016.
The Consultant Firm will be required to complete this assignment in four (4) months
Scope of Assignment
The consultant is expected to:
- Review existing regulations, rules, guidelines manual and instructions applicable to Non-Bank Financial Institutions
- Develop Guidelines manual based on the NBFI Act 2016 and other essential regulations.
- Designed instructions in line with prudential rules and operational guidelines regarding classic finance and Islamic finance
- Conduct the Kick-off meeting and the validation Workshop on the Guidelines and Instructions for the Stakeholders.
The Project Coordination Unit of the Ministry of Finance and Economic Affairs now invites eligible Consultancy Firms to indicate their interest in providing this service. Interested Consulting Firms must provide information indicating that they are qualified to perform the services (description of similar assignments, experiences in similar conditions and availability of appropriate professional skills, etc.). The Shortlist criteria will be as follows:
- Information about firm’s capacity and number of years in business in this field – 10 points
- Technical and managerial organization of the firm – 10 points
- General qualification and experience of the firm – 20 points
- Specific Experience in relation to similar assignments conducted in the past – 20 points
- Qualification and Experience of the key staff should hold relevant qualifications with in-depth experience in conducting similar assignment – 40 points
Eligibility criteria, establishment of the short-list and the selection procedure shall be in accordance with the African Development Bank’s Procurement of goods (including non-consultancy services), works and the acquisition of consulting services, financed by the Bank for the project, will be carried out in accordance with the “Procurement Policy and Methodology for Bank Group Funded Operations” (BPM), dated October 2015 and following the provisions stated in the Financing Agreement on “Selection Based on Consultants Qualification” (CQS) Method which is available on the Bank’s website at http://www.afdb.org
Interested consultants may obtain further information at the address below during office hours Monday to Thursday 8.00 am to 4.00 pm and Friday 8:00am – 12:30pm.
Expressions of interest must be delivered to the address below by Monday 24th September 2018 at 16:00hrs Gambian Time and mention “Recruitment of a Consulting Firm to develop guidelines for Non-Bank Financial Institutions in conformity with the Central Bank of the Gambia’s Non-Bank Financial Institutions (NDFI) Act 2016”.
Attn: Project Coordinator
Inclusive Growth Promotion Institutional Support Project (IGPISP)
Project Coordination Unit
Ministry of Finance and Economic Affairs
The Quadrangle, Banjul
The Gambia
Tel: 220 4223301 / 4223304
E-mail: sdambelleh@yahoo.com ; bsjammeh@cbg.gm ; stouray2001@gmail.com