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Tender Details
- Country: Somalia
- Summary: Assessing Somalia's Legal Framework for Credit Info, Cis & Secured Transactions Registry
- SOT Ref No: 124745233
- Deadline: 28 Aug 2025
- Competition: ICB
- Financier: World Bank (WB)
- Purchaser Ownership: Public
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.: 0002017719
- Purchaser's Detail :
- Description :
- There is no formal credit infrastructure or any type of formal private sector data sharing arrangements nor movable collateral registry in Somalia yet. The private financial sector does not have adequate tools and information to assess the risks associated with MSMEs andindividuals nor adequate collateral, and thus chooses not to provide financing to them. The market has limited use for scoring applications or automated account management systems, as the low number of applications make it difficult to build statistical models.Within the context of the above, IFC is supporting THE CENTRALBANK OF SOMALIA (CBS), in the development of a credit infrastructure ecosystem, thatmeets the needs of the country and supports financial institutions to make datadriven lending decisions. IFC-sinitiative aims to expand access to finance for individuals and MSMEs byimproving their credit risk management processes of the financial institutionsand enabling the use of movable collateral by lenders through deploying aCredit Information System (CIS) and a Secured Transactions and CollateralRegistry (STCR).IFC would like to conduct a legal assessment and requires the services of a legal advisor(“Consulting Firm”) to:assess the existinglegal and regulatory framework relevant to credit infrastructure in Somalia.identify gaps and recommend legalreforms to enablethe establishment of a creditinformation system (CIS) and secured transactions and movable collateralregistry (STCR).ensure alignmentwith international standardsand best practices, including the General Principles for Credit Reportingand the UNCITRAL Model Law
90 - CONTRACT CONSULTANTS - Documents :
Purchaser : WORLD BANK(WB)
SO - Somalia
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