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General Procurement Notice for Consultancy Services for Establishing an Islamic Window at the Maghreb Bank for Investment and Foreign Trade (BMICE) Establishing an Islamic Window at the Maghreb Bank for Investment and Foreign Trade (BMICE) The project has the following components: A. Internal Legal and Regulatory Framework: Draft/update policies governing the organization and operation of the Window (charter, scope, responsibilities, activity segregation). Define guiding principles for Islamic finance-specific risk management. Determine the treatment of investment accounts (restricted/unrestricted), profit/loss calculation and allocation methodology, and associated governance. Define the accounting framework (AAOIFI FAS or IFRS with AAOIFI bridge), account mapping, and separate financial statements for the Window. Establish rules for risk reporting (credit, concentration) and information exchange (credit registry/credit bureau), in accordance with applicable laws. Define IT and internal control requirements to prevent co-mingling (segregation, products, channels, reporting). B. Compliance, Control, and Supervision (Alignment with BCBS/IFSB/AAOIFI) Define internal control procedures and Sharia reviews (first/second/third lines), and internal and regulatory reporting. Develop an internal prudential oversight guide. Establish a liquidity management/monitoring framework (indicators, limits, early-warning). C. Operational Guidelines & Policies for Islamic Windows Draft SOPs for front/middle/back-office: Sharia due diligence, contract execution, disbursements, monitoring, and recovery. Protected Determine pricing rules (margins/profits/fees), Sharia-compliant penalties (charitable allocation where applicable). D. Sharia Governance Design the Sharia Committee charter (composition, independence, quorum, conflicts of interest, confidentiality). Define roles/functions: Sharia Compliance, Sharia Audit, Sharia Secretariat, fatwa process & ex-ante/ex-post review, and annual Sharia Report. Propose, where applicable, a relational framework with a national fatwa authority/Sharia Council if one exists in an operating jurisdiction. E. Products and Instruments for Trade, Investment and Liquidity & Market Access Develop products for BMICE activities. Produce contractual templates (Murabaha, Ijara, Wakala, Mudaraba, Musharaka, etc.) and their workflows (acquisition/ownership/risk, delivery, invoicing, Sharia-compliant collateral). Design a liquidity management toolkit. Propose Sharia-compliant collateral policies. F. Deployment Strategy for the Window Develop a roadmap (pilot phases scale-up): product scope, channels, geographic coverage, KPIs and alert thresholds. Prepare a training & capacity building plan (management, risk, compliance, legal, IT, frontoffice). Define a change management plan (governance, internal communication, incentive alignment). G. Exploring Innovative Solutions Explore the implementation of innovative banking solutions, such as fintech or counter-trade practices. H. Communication and Capacity Building Produce a communication plan (positioning, key messages, Sharia FAQ, product sheets). Organize seminars/workshops for capacity building. Procurement of contracts financed by the Islamic Development Bank will be conducted through the procedures specified under the Guidelines for the Procurement of Consultant Services under Islamic Development Bank Project Financing (April 2019, revised in February 2023) and is open to all eligible bidders as defined in the guidelines. Request for Expression of Interest (REOI) for contracts for consultancy services will be announced as they become available on the IsDB website DG Market and the BMICE website. Interested eligible firms and individuals who wish to be considered for the provision of consulting services for the above-mentioned project, or those requiring additional information, should contact the Beneficiary at the address below: Tender Link : https://www.isdb.org/project-procurement/tenders
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