Result of Service
The objectives of this assignment are to:
Inception and Market Readiness Report: Outlining the detailed work plan and methodology.
Draft Regulations and Guidelines: Detailing comprehensive draft regulations and guidelines for NICMs.
Training Programmes: Designing and delivering training materials and programmes for market participants and regulators.
Final Report: Incorporating feedback from stakeholders and finalizing the regulations and guidelines.
Duties and Responsibilities
Under the supervision of the Chief, Finance and Domestic Resource Mobilization Section, of the Macroeconomic, Finance, Governance and Planning Division, ECA, the Consultant will be responsible for the following:
Assess the suitability of the existing regulatory framework and propose recommendations for the potential issuance, trading, and settlement of non-interest financial instruments.
Establish guidelines for ensuring Shariah compliance in all market activities, including the role of Shariah supervisory boards.
Assess and recommend improvements to the market infrastructure to support NICM activities.
Identify and develop strategies to mitigate risks specific to NICM, including credit risk, market risk, and operational risk.
Develop guidelines to protect investors and ensure fair market practices.
Develop and implement a training programme for market participants and regulators, to enhance understanding and expertise in non-interest finance.
Qualifications/special skills
An advanced degree (Master's Degree or equivalent) in the field of Capital Markets, Finance or Shariah-compliant Economics, Banking and Finance or a relevant field is required. A first-level university degree in combination with qualifying experience may be accepted in lieu of the advanced university degree.
A minimum of 5 years' progressively responsible experience at national and/or international level in non-interest finance and global Shariah capital markets is required.
Experience working with government entities, including ministries of finance and capital market regulatory authorities in sub-Saharan Africa is desirable.
Past experience working with international organizations and African countries is desirable.
Experience working with international Islamic standards bodies is desirable.
Languages
English and French are the working languages of the United Nations Secretariat. For the post advertised, fluency in English is required. . Knowledge of Arabic is desirable.