General Procurement Notice For Procurement Of Goods, Works And Related Services Under Development Of An Islamic Financial Strategy And Roadmap For Djibouti

General Procurement Notice for Procurement of Goods, Works and Related Services under Development of an Islamic Financial Strategy and Roadmap for Djibouti The project will include the following components: First, the Islamic Finance Roadmap and Legal Framework Advisory Services component will include a comprehensive assessment of Djiboutis current ecosystem. This assessment will focus on key pillars such as political will, national strategy, and existing Sharia legal, fiscal, and governance frameworks. Specifically, this component will address critical infrastructure gaps, including the lack of Sharia-compliant liquidity management tools and working capital instruments, while exploring how the Djibouti Guarantee Fund can support SMEs and Islamic microfinance. Beyond the initial assessment and development of a strategic roadmap, this component will focus on revising banking regulations to align them with international best practices and establishing an entirely new regulatory framework for Islamic microfinance and social finance instruments such as zakat, waqf, and qard hasan. Secondly, the capacity-building component aims to ensure the sustainability of the sector by enhancing the technical expertise of local professionals through a train-the-trainer model and specialized professional development programs. These activities will prioritize high-level training in Sharia compliance, risk management, and accounting, with a focus on certifications and standards from international organizations such as AAOIFI and IFSB. A key aspect of this component is raising awareness within the legal community, through targeted training for lawyers and judges to ensure their thorough understanding of the contractual and legal specificities of Islamic financial instruments. Third, the study visits component will facilitate knowledge exchange by organizing institutional visits for staff of the Central Bank of Djibouti and other key stakeholders to advanced regulatory bodies in recognized Islamic finance jurisdictions. The objective of these visits is to gain firsthand knowledge of effective supervisory practices, observe innovative financial solutions, and build international networks to foster long-term collaboration. By drawing on global best practices, Djiboutis regulatory authorities will be better equipped to implement lessons learned and refine the national supervisory framework to support a robust and competitive Islamic finance market. [Disclaimer: The above text is machine translated. For accurate information kindly refer the original document.] Tender Link : https://www.isdb.org/project-procurement/tenders

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