Azerbaijan_Support for the Development of Non Bank Finance and Alternative Financial Instruments to Develop Economic Diversification

Scope of Work

The expert will work closely with the team leader and FIMSA to assess the enabling environment for financial leasing services, as well as FIMSA’s institutional and organizational capacity to regulate and supervise these services and draw from international best practice to highlight options for reform. Key findings and recommendations will be included in the action plan and in designing appropriate financial education and literacy programs.

Detailed Tasks

The expert will work together with FIMSA and other stakeholders and will have the following major responsibilities including other related tasks as assigned by the ADB and/or FIMSA from time to time.

(i) Review the supply and demand data for financial leasing and potential related financial education and literacy needs.

(ii) Assess the policy, legal and regulatory environment for financial leasing, focusing in particular on the role that they could play in expanding access to financing in manat to informal micro and small businesses, rural households, small and micro businesses, and small farmers.

(iii) Review consumer and creditor protection policy and laws.

(iv) Assess FIMSA's regulatory and supervisory framework and identify their capacity needs, including required resources, timeframes, expected benefits and impact of expanded financial leasing services in manat.

(i) Recommend action plans that would incorporate regional and international good practices and identify critical success factors for the implementation of proposed amendments/reforms. Prioritize two regulatory changes to be implemented.

Deliverables:

(i) Assessment report on financial leasing services.

(ii) Inputs to the overall prioritized and sequenced action plan.

(iii) Inputs to the development of financial education and literacy programs.

Qualifications: 

The expert will be an international consultant possessing a postgraduate degree in law, finance, or business administration. She or he must possess at least 10 years of relevant work experience in financial sector development and not less than 5 years working in regulating and supervising banking agents. Relevant experience in leading and organizing quantitative research studies to define national policy, laws and regulations is preferred. Experience in Central and West Asia is an advantage.

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