Somali Core Economic Institutions and Opportunities (SCORE) Program: Consulting Services for Market Study on Somali Financial Services

Project ID: P152241
Borrower/Bid No: FGS/SCORE/MKT/2016

FEDERAL REPUBLIC OF SOMALIA
MINISTRY OF FINANCE
SOMALI CORE ECONOMIC INSTITUTIONS AND OPPORTUNITIES PROGRAM TF
REQUEST FOR EXPRESSIONS OF INTEREST

Assignment Title: Consulting Services for Market Study on Somali Financial Services
Publication Date: May 13, 2016
Expression of Interest Deadline: June 12, 2016
Expected Starting Date: July 01, 2016
Funding Sources: # TF0A1688
Individual/Firm: Firm Selection
Expected period of assignment: 90 consultancy-days.

BACKGROUND
The Federal Government of Somalia (FGS) through the Ministry of Finance with support from the World Bank Somali Core Economic Institutions and Opportunities (SCORE) Program, a World Bank program supported by a multi-donor trust fund, is implementing a series of activities to support financial sector development and strengthen non-bank financial institutions supervision and regulation.
The development objectives of the SCORE Program are to: (i) improve the enabling environment for private and financial sector development; and (ii) catalyze private investment and job creation in key productive and service sectors. Through the SCORE Program, the Ministry of Finance is exploring viable pathways for pushing the frontiers of access to regulated and supervised channels of financial services by Somali households and small businesses, and to accelerate the transition to a deep and inclusive financial system, thereby underpinning effective reconstruction efforts and enabling long-term economic growth.
For the Ministry of Finance, the SCORE Program will help deliver governance capacity for financial sector development by strengthening the capacity of the Ministry to coordinate the analysis, formulation, implementation, and monitoring of financial sector policies, strategies and regulations; and, oversee FGS's interventions in the financial sector.
For the Central Bank of Somali (CBS), the SCORE Program will help deliver regulatory and supervisory capacity for non-bank financial institutions including development of the national payment systems.

OBJECTIVE OF THE ASSIGNMENT
The overall objective of this consultancy is to identify the demand and supply gaps for financial services in Somalia and advise on the range and nature of FGS's policy interventions in the financial sector as well as the regulatory and supervisory recommendations for the CBS. Specifically, the consultancy will explore policy and feasible green-field investments opportunities that the FGS through the Ministry of Finance and Central Bank of Somalia might undertake to catalyze added private investment and job creation, and improve the regulatory and supervisory environment for the non-bank financial services in Somalia.
The market study will provide missing evidence needed by policymakers and regulators to understand the nature of market demand and supply for financial services in Somalia with a view to identify urgent and priority policy reforms and green-field opportunities for the FGS. The study will focus on both supply and demand aspects of the provision of financial services in Somalia, identify current usage of financial services and products and assess the potential for green-field opportunities.

QUALIFICATIONS
The Ministry of Finance now 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. The short-listing criteria include the following:
i) Background of the firm(s): summarizing their areas of expertise 1) organizational capability 2) years of experience of the firm 3) Size of the firm;
ii) General and overall experience of the firm(s);
iii) Relevant experience and summary of similar projects undertaken by the firm(s);The Consultant should have good knowledge of financial sector development, experience in applying information and communications technologies (ICT) to conduct market studies, and possess a proven track record of undertaking similar assignments in the last five years. Evidence of contracts of at least USD200,000 value successfully implemented.
iv) Availability of appropriate skills amongst staff.
Attention of interested Consultants is drawn to paragraph 1.9 of the World Bank's Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers (January 2011) ("Consultant Guidelines"), setting forth the World Bank's policy on conflict of interest. Please visit www.worldbank.org setting forth the World Bank's policy on conflict of interest. In addition, please refer to specific information on conflict of interest related to this assignment as per paragraph 1.9 of Consultant Guidelines.
Consultants may associate with other firms in the form of a joint venture or a sub consultancy to enhance their qualifications.
A Consultant will be selected in accordance with the Quality and Cost Based Selection (QCBS) method set out in the Consultant Guidelines.
Further information can be obtained by sending email requests at the email address below. Interested Consultants may submit hard copies or email expressions of interest to the address below at or before 4.00 pm local Somalia time on Sunday, June 12, 2016. Late bids shall be rejected.
 
Attn:
Mr. Burhan Iman Ahmed
SCORE PIU Coordinator
Ministry of Finance
Federal Government of Somalia
Villa Somalia
Mogadishu, Somalia
Email Address 1: bidsmof@gmail.com
Email Address 2: scoresomalia@gmail.com