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Invitation for Submission of Expressions of Interest

TA 4386-BHU: Strengthening of the Payment & Settlement System

TA Background Introduction and Objective:
The objective of this TA is to establish an integrated payment and settlement system throughout Bhutan. Legal modalities, institutional arrangements, and current practices will be reviewed, with a view to designing a comprehensive, computerized payment and settlement system. The system will address the needs of banks, businesses and individuals in a sustainable, efficient, transparent manner, thereby promoting financial market and private sector development. The TA will explore the possibility of graduating from the current manual system of recording, payment, and settlement to a more sophisticated processing system, e.g. a system using magnetic ink character recognition (MICR) technology, imaging, or a "real time" gross settlement system, eventually. The TA will support the institutional and regulatory development of this system, as well as implementing the system by procuring necessary equipment and computer software.

ADB requires to fill one position to implement the TA :

System Information Technology Expert. He/She will be engaged by ADB in accordance with its Guidelines on the Use of Consultants, to provide the required consulting services for a total of 1.5 person-months, delivered intermittently. The planned implementation period is from February to May/early June, 2006.

The Terms of Reference and required Qualification for the expert are set out below. Interested individuals are requested to submit their proposals and curriculum vitae (CV) to the following address, Ms. Chia-Hsin Hu or Belle Martin, Asian Development Bank, 6 ADB Ave, Mandaluyong Metro Manila, or email at chhu@adb.org or mimartin@adb.org

Submission deadline is 10 February 2006

Terms of Reference

  • Assist the Government and ADB in contracting with the final Vendor to procure, install, implement, and maintain the new electronic payment system, including reviewing the legal documents of purchase agreement, identifying required hardware and software requirements, and recommending necessary training, and maintenance services.
  • Assist the Government in monitoring the installation and supervising the implementation of the automated payment system. Comment on the vender's bi-monthly progress reports.
  • Provide advices and problem-solving solutions to the Government and the Vendor when needed.
  • Preparing staffing recommendations for clearinghouses and RMA, a work/business plan, and responsibility of clearinghouse staff for operating an automated system.
  • Recommend possible ways for cost recovery for the Government for its investments and operational costs incurred in operating the automated payment system.
  • Review and finalize the draft Bhutan Electronic Clearing House Rules based on the final electronic payment system design.
  • Prepare (a) an inception report, within 15 days of fielding; (b) a draft final report for the TA, to be submitted 2 weeks before the end of the consulting term; and (c) finalize the draft final report with incorporation of comments from the Government and ADB.

Qualifications
The expert must be a financial service expert with extensive and updated knowledge and experiences of management and operations in electronic payment systems, including central bank check clearing systems, MICR systems, automated clearing houses, computer operations, and implementing automated systems.