ESTABLISHMENT OF AN APPROPRIATE LEGAL, REGULATORY AND INSTITUTIONAL OVERSIGHT FRAMEWORK FOR E-PAYMENT AND M-PAYMENT SYSTEMS IN KENYA (CENTRAL BANK OF KENYA)

Country:

Kenya

City/Locality:

Nairobi

Notice/Contract Number:

EOI/PIU/08/2007-2008

Publication Date:

May 7, 2008

Deadline:

May 26, 2008

Funding Agency:

World Bank

Buyer:

Kenya Financial and Legal Sector Technical Assistance
Ministry of Finance

Original Language:

English

Address:

Emma Kirungu
Procurement Specialist
Project Implementation Unit, Ministry of Finance
7th Floor, Anniversary Towers, North wing,
Plot No. 209/9744, University Way, P.O. Box 00100 – 34542
Nairobi
Kenya

Telephone:

254 – 20 – 2210271/2210341

Fax:

254 20 2210327

Email:

Click here

66110000 - Central bank services

REPUBLIC OF KENYA

MINISTRY OF FINANCE

REQUEST FOR EXPRESSIONS OF INTEREST (EOI).

ESTABLISHMENT OF AN APPROPRIATE LEGAL, REGULATORY AND INSTITUTIONAL OVERSIGHT FRAMEWORK FOR E-PAYMENT AND
M-PAYMENT SYSTEMS IN KENYA (CENTRAL BANK OF KENYA)

Financial and Legal Sector Technical Assistance Project (FLSTAP)

Ref: EOI/PIU/08/2007-2008

Credit No. 3992 KE

Project ID No. P083250.

This request for Expression of Interest follows the General Procurement Notice (GPN) for this project that appeared in United Nation Development Business No. 674 of March 16, 2006 and was updated in UN Development Business No. 707 of July 31, 2007. The Government of Kenya has received a credit from the International Development Association and a Grant from the UK Department for International Development (DFID) towards the cost of the Financial and Legal Sector Technical Assistance Project (FLSTAP). It is intended that part of the proceeds of this credit be applied to eligible payments under the contracts for provision of consultant services on: “Establishment of an appropriate Legal, Regulatory and Institutional Oversight Framework for E-payment and M-payment systems in Kenya – CBK.’’. This consultancy is expected to take a period of four and half months.

1. Objective

The objective of the consultancy will be to Propose, design and support the implementation of specific oversight mechanisms for e-payments and m-payments and to propose an appropriate legal, regulatory and institutional framework for non-bank based funds transfer systems in accordance with international good practices and standards, where applicable.

2. Scope of the Work

The Consultancy will cover the following areas

2.1 Legal and Regulatory Framework
The consulting team’s advisory services should at a minimum cover such issues as:-
• Defining and describing in writing public policy issues in e-payment and m-payments systems, notably relating to overall Government objectives of increasing financial inclusion, ensuring stability of the financial system, controlling money laundering, combating the financing of terrorism, sound macro-economic management and consumer protection
o Providing clear written guidance on role of oversight and legal and regulatory requirements with respect to e-payments and m-payments systems infrastructure, including:
o issuance of e-money and similar stored value instruments by non bank financial institutions;
o finality of payment;
o the use and oversight of m- banking agents if any;
o rules ensuring compliance with the Kenyan and international requirements for prevention of money laundering (AML) and combating the financing of terrorism (CFT);
o consumer protection provisions; and
o dispute resolution
• Providing clear written guidance as to the relationship between NPS oversight and other Technology sector regulators and/or payment systems providers
• Providing clear written guidance on effective institutional arrangements for the implementation and enforcement of the legal and regulatory framework including an assessment of capacity building requirements for the regulator, participants and users.
• An analysis of the current legal framework and gaps that need to be fixed to enable e-payment and m-payment.
• Providing in writing detailed regulatory guidelines and draft regulations on e-payment and m-payment systems.

2.2 Oversight Benchmarks
The consulting team’s advisory services should at a minimum be capable of: -
• Advising and/or training on developments in e-payment and m-payments systems oversight mechanisms
• Providing written guidance on comparative oversight mechanisms and respective effectiveness
• Providing written guidance on types of oversight and regulation of e-payment and m-payment systems and instruments
• Assisting and advising on identification and/or development of benchmarks for e-payments and m-payments

2.3 Oversight Methodology
The consulting team’s advisory services should at a minimum be capable of: -
• Providing a working definition of e-payment and m-payment systems’ oversight
• Providing written guidance on e-payment and m-payment oversight methodology
• Providing in writing guidelines for cooperative oversight at both national and international level for e-payments and m-payments. This oversight should cater for cooperation with financial sector regulators and other sector regulators
• Providing examples and training materials as to oversight reports for e-payments and m-payments.

3. The Ministry of Finance (the Client) through its Project Implementation Unit (PIU) now invites eligible consulting firms to express their interest in providing this service. Interested consulting firms shall provide information indicating their professional capability to undertake the consultancy. Such information may include brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc. Consultant firms should provide the most recent profiles of their consultants showing their experience, qualifications, capabilities, references and details of past experience especially in the area of their expertise etc.

4. Interested eligible firms may obtain further information at the address given below during office hours between 0900 to 1630 hours, Monday – Friday inclusive, exclusive of public holidays, before the deadline for the submission of Expressions of Interest. The selection of consultants will be in accordance with procedures set out by World Bank Guidelines: Selection and Employment of Consultants by World Bank Borrowers, May 2004

5. Complete Expressions of Interest documents in plain sealed envelopes with consultancy reference and name clearly marked on top should be sent to the address below or forwarded using the email addresses as shown below or placed in the tender box at our offices on the 7th floor, Anniversary Towers, North Tower.

Postal Address:
Project Implementation Unit
Attention: Procurement Specialist
P.O Box 00100 – 34542
Nairobi, Kenya.

Physical Address:
Project Implementation Unit
Attention: Procurement Specialist
7th Floor, Anniversary Towers, North Tower.
Plot No. 209/9744, University Way
Nairobi, Kenya.

Telephone No.: 254 – 20 – 2210271/2210341
Fax No.: 254 – 20 - 2210327

E-mail: info@flstap.go.ke

6. Deadline for submission of Expressions of Interest is May 26th, 2008 at 1600 hours Kenyan local time

ESTABLISHMENT OF AN APPROPRIATE LEGAL, REGULATORY AND INSTITUTIONAL OVERSIGHT FRAMEWORK FOR E-PAYMENT AND M-PAYMENT SYSTEMS IN KENYA (CENTRAL BANK OF KENYA)

Request For Expressions of Interest

General Information

Contact Information

Assignments

Original Text

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