Result of Service
– To ensure compliance with Shariah principles in all aspects of the capital market. – To enhance transparency, predictability, and investor confidence in non-interest finance. – To build capacity among market participants and regulators through targeted training programs
Work Location
Addis Ababa
Expected duration
4 Months
Duties and Responsibilities
The Consultant will work under the overall guidance of the Director of the Macroeconomics, Finance, Governance & Planning (MFGPD) and the Chief, Finance and Domestic Resource Mobilization Section (FDRMS), in close collaboration with the assigned ECA Staff.
He/she will work under the direct supervision of a Chief, Finance and Domestic Resource Mobilization Section.
The tasks to be performed by the Consultant include:
- Develop comprehensive guidelines for the issuance, trading, and settlement of non-interest financial instruments and products including Guidelines on Non-Interest (Islamic) Funds and REITs
- 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 non-interest finance activities.
- Identify and develop strategies to mitigate risks specific to non-interest finance, including credit risk, market risk, and operational risk.
- Develop guidelines to protect investors and ensure fair market practices.
- Recommend and implement training programs for market participants, regulators, and the public to enhance understanding and expertise in non-interest finance.
