| Ministry/Division |
: |
Ministry of Finance |
| Agency |
: |
Finance Division |
| Procuring Entity Name |
: |
Project Director (Joint Secretary), Bangladesh Insurance Sector Development Project, Financial Institutions Division, M/O Finance, Dhaka |
| Procuring Entity Code |
: |
|
| Procuring Entity District |
: |
Dhaka |
| Expression of Interest for Selection of |
: |
Consulting Firm (International) (Lump-Sump) |
| Title Of Service |
: |
CONSULTING SERVICES – FIRM SELECTION |
| EOI Ref. No. |
: |
53.03.0000.090.41.002.19-130 |
| Date |
: |
01/04/2019 |
KEY INFORMATION
|
| Procurement Sub-Method |
: |
Quality and Cost Based Selection(QCBS) |
FUNDING INFORMATION
|
| Budget and Source of Funds |
: |
Development Budget Grant/Credit |
| Development Partners |
: |
IDA |
PARTICULAR INFORMATION
|
| Project/Programme Name |
: |
|
| EOI Closing Date and Time |
: |
29/04/2019 5:00 pm
|
| Publication Date |
: |
07/04/2019
|
INFORMATION FOR APPLICANT
|
| Brief Description of Assignment |
: |
The consulting services include:
- Update Insurance Act 2010 taking account the Insurance Core Principles (ICPs)
- Review Insurance Development and Regulatory Authority Act 2010.
- Review and upgrade all the current regulations and develop all the necessary regulations/guidance to set up risk based supervision
- Design and set up solvency margin regulation
- Design and implement Smart Risk Based Supervision including accounting, financial, and regulatory and actuarial reporting
- Establish uniform financial reporting system that allows for detailed analysis of asset holdings, reinsurance, investment, investment yielded, loss/claim reserves, etc.
- Development of Smart RBS manuals, policies, guidelines using best international experiences that enable IDRA the use of data to perform stress tests on companies, find anomalies from one company to another through benchmarking and other processes, and look for new risk concentration and valued risks, thereby keeping regulatory disruption to a minimum.
- Provide necessary consultations and hands-on training to essential to IDRA staff
- Participate and contribute to selected trainings organized by a training firm to enhance IDRA’s staff capacity
- Work closely with the firm that will be selected for training of IDRA staff to enhance Smart RBS capacity
- Recommendation not giving excess discount to the customer
|
| Experience, Resources and Delivery Capacity Required |
: |
4. Insurance Development and Regulatory Authority now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. The short-listing criteria are:
(a) General experience of the Firm(s);
(b) Experience in similar assignments of compatible size, complexity and technical specialty in the required area;
(c) Financial soundness of the firm; and
(d) Staffing and logistics of the firm.
Consultants are requested to submit the following supporting documents in support of the above-mentioned criteria:
(a) Registration paper of the firm (s); (b) JV agreement/letter of intent (if applicable); (c) Firm’s brochure; (d) Audited financial reports for last three years; (e) service experience record (including nature, total cost, total input in terms of man month, employer, location of service etc.).
|
| Other Details (if applicable) |
: |
8. Expression of Interest (both hard and soft copy) must be delivered to the address below (in person or by mail) by 17:00 hours (GMT+ 6 hours) on or before April 29, 2019. The authority reserves the right to accept or reject any or all EOIs without assigning any reason, whatsoever. |
| Association with foreign firms is |
: |
Not Encouraged |
| Eoi Detail Information |
|---|
| Ref No |
Phasing Of Services |
Location |
Start Date |
Completion Date |
| N/A |
N/A |
N/A |
N/A |
N/A |
|
PROCURING ENTITY DETAILS
|
| Name of Official Inviting EOI |
: |
Md. Nayeb Ali Mondal |
| Designation of Official Inviting EOI |
: |
Project Director (Joint Secretary) |
| Address of Official Inviting EOI |
: |
Bangladesh Insurance Sector Development Project, SBC Tower (8th Floor), 37/A, Dilkusha C/A, Dhaka-1000 |
| Contact details of Official Inviting EOI |
: |
Phone : 88 02-9514963, Fax : , Email : |
| The procuring entity reserves the right to accept or reject all tenders |
