AZERBAIJAN SECO-FUNDED FINANCIAL SECTOR MODERNIZATION PROJECT TECHNICAL ASSISTANCE FOR DEVELOPING CONSUMER PROTECTION LEGAL FRAMEWORK

SELECTION FOR CONSULTANTS BY THE WORLD BANK

REQUEST FOR EXPRESSIONS OF INTEREST

Electronic Submissions through World Bank Group eConsultant2
https://wbgeconsult2.worldbank.org/wbgec/index.html

ASSIGNMENT OVERVIEW

Assignment Title: 1086099 - AZERBAIJAN SECO-FUNDED FINANCIAL SECTOR MODERNIZATION PROJECT TECHNICAL ASSISTANCE FOR DEVELOPING CONSUMER PROTECTION LEGAL FRAMEWORK

Assignment Countries:
- Azerbaijan

ASSIGNMENT DESCRIPTION

The Central Bank of Azerbaijan (CBAR) requires technical assistance of an experienced financial regulation legal expert to develop an effective and efficient legal framework for consumer protection based on international best practices and to advise the Central Bank Working Group and Expert Group on consumer protection in the drafting of relevant legal amendments and new Central Bank regulations on consumer protection. The funding for this technical assistance is being provided in the form of grant funds provided by the Swiss Government through the Swiss Secretariat for Economic Affairs (SECO).

The main objective of this TA is to assist the CBAR to develop an adequate consumer protection legal and regulatory framework for the banking and non-bank lending sectors. For this matter, the consultant will undertake the following tasks including: 

(i) travelling to Azerbaijan at the beginning of the assignment to meet with the CBAR Working Group and Expert Group on consumer protection and discuss their plans for the development of the legal framework and to discuss with the Expert Group the first draft amendments to the Law on Banks and the Law on the Central Bank; 

(ii)reviewing the existing Azeri financial sector legislation relevant from international best practices perspective to set up an adequate consumer protection framework, and advising on necessary changes based on international best practices

(iii) advising and commenting on the Action Plan of the CBAR to establish an adequate consumer protection legal framework, including scope of changes to the relevant laws;

(iv)providing advice and comments on proposed texts of amendments to laws and regulations prepared by the CBAR, as well as follow-up responses to comments from CBAR and other relevant stakeholders if needed;

(v)when dealing with laws relevant to the whole financial sector (e.g. rules on advertising of financial products), ensuring that advice provided is relevant also to other financial sector supervisors and consulting with such supervisors;

(vi) assisting in the preparation and application of well-justified code of conduct for credit institutions developed by the industry in cooperation with CBAR; 

(vii)providing advice for setting legal requirements for credit institutions to state the name of the Central Bank in the introduction of bank services to public;

(viii) travelling to Azerbaijan to present and discuss advice and comments on texts of amendments to laws and regulations to the CBAR and other stakeholders if needed.

FUNDING SOURCE

The World Bank intends to finance the assignment / services described below under the following trust fund(s):
- Azerbaijan SECO Hybrid TA-TF for FSM - Bank Executed

ELIGIBILITY

Eligibility restrictions apply:
To be considered in the selection process, the expert must have:

(i) a law degree; 
(ii) at least 10 years of experience in development of financial market regulation;
(iii) proven knowledge of the CIS financial sector legislation and regulation;
(iv)proven knowledge of the EU financial services directives; 
(v)experience with the implementation of the financial sector regulation by a banking regulator; 
(vi)excellent speaking and writing skills in English;
(vii)excellent communication skills. 

[INDIVIDUAL / FIRM PROFILE
The consultant should be an individual. 

SUBMISSION REQUIREMENTS
The World Bank now invites eligible consultants to indicate their interest in providing the services. Interested consultants must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc. for firms; CV and cover letter for individuals). Please note that the total size of all attachments should be less than 5MB. 

Interested consultants are hereby invited to submit expressions of interest.

Expressions of Interest should be submitted, in English, electronically through World Bank Group eConsultant2 (https://wbgeconsult2.worldbank.org/wbgec/index.html)

NOTES
Selection and contracting will normally be made from responses to this notification. The consultant will be selected from a shortlist, subject to availability of funding.

Selection and contracting will normally be made from responses to this request for expression of interest. The consultant will be selected from a shortlist, subject to availability of funding.