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    • Tenders Are Invited For Assessing Somalias Legal Framework For Credit Info, Cis & Secured Transactions Registry

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    100732702
    You can view only after subscription.
    0002017719
    The World Bank Group
    Tenders Are Invited For Assessing Somalias Legal Framework For Credit Info, Cis & Secured Transactions Registry
    NCB
    You can view only after subscription.
    Africa
    Common Market for Eastern and Southern Africa, COMESA,African Union
    28-08-2025

    Work Detail

    Expression of Interest for Assessing Somalias Legal Framework for Credit Info, CIS & Secured Transactions Registry. 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 CENTRAL BANK OF SOMALIA (CBS), in the development of a credit infrastructure ecosystem, that meets the needs of the country and supports financial institutions to make data driven lending decisions. IFCs initiative aims to expand access to finance for individuals and MSMEs by improving their credit risk management processes of the financial institutions and enabling the use of movable collateral by lenders through deploying a Credit Information System (CIS) and a Secured Transactions and Collateral Registry (STCR). IFC would like to conduct a legal assessment and requires the services of a legal advisor (Consulting Firm) to: assess the existing legal and regulatory framework relevant to credit infrastructure in Somalia. identify gaps and recommend legal reforms to enable the establishment of a credit information system (CIS) and secured transactions and movable collateral registry (STCR). ensure alignment with international standards and best practices, including the General Principles for Credit Reporting and the UNCITRAL Model Law Tender Link : https://wbgeprocure-rfxnow.worldbank.org/rfxnow/public/advertisement/5776/view.html

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