Hiring of Consultant for converting an entity into a regulated financial institution

Job title: Hiring of Consultant for converting an entity into a regulated financial institution

Company:


Job description: KARANDAAZ PAKISTAN, a not-for-profit company established in 2014 and registered with the Securities and Exchange Commission of Pakistan under section 42, is promoting access to finance for small businesses through commercially directed investments and financial inclusion of individuals by leveraging technology-enabled solutions and platforms.Karandaaz Pakistan operates through four program verticals:

• Karandaaz Capital provides wholesale structured credit and equity-linked direct growth capital investments in micro, small and mid-size enterprises (MSMEs) with compelling prospects for sustainable growth and employment generation in Pakistan
• Karandaaz Digital focuses on expanding the poor’s access to digital financial services in Pakistan by working across the ecosystem with all stakeholders including regulators, policy-makers, government departments, businesses and researchers and academics in four key work areas: policy and regulation, seeding innovation, experimentation and solutions development, and scale and outreach.
• Karandaaz Innovation provides risk capital and technical assistance to support innovative and practicable solutions aimed at financial inclusion and entrepreneurship. The Women Ventures business line provides business development support and growth capital to women-led businesses to facilitate their expansion and scale-up.
• Karandaaz Research & Insights supports the company’s core objectives by developing and disseminating evidence-based insights and solutions to inform and influence markets and the financial ecosystem.

BackgroundA regional financial entity that has an established history of greater than 50 years and working to support remote locations of the country, plans on becoming a scheduled bank i.e. a regulated entity by State Bank of Pakistan (SBP). This entity plans on working on extending banking products for development of the local economy, scaling the available banking services and facilitating the local population to have an entity that provides an interoperable banking system that is connected to Raast – National Payment Switch for all type of transfers, bulk payments and merchant payments. Given that the entity is not currently a SBP regulated entity therefore, cannot connect to the financial system through National Payment Switch. The particular entity has earlier applied for a banking license but there are challenges that need to be addressed to meet the regulatory requirements. Challenges include working on technical systems, equity structure, operational processes, implementation of control procedures and complying to rules/regulations given by SBP. Successfully obtaining the license would allow the entity to process payments through Raast and strengthen its operational capacity, diversify revenue streams, and play a more significant role in fostering financial inclusion and economic development across region.For detailed TORs please download the attached fileApply By:Interested candidates must submit both technical proposals & financial proposals on or before 5:00 pm Pakistan Standard Time on 7th April’25. Applicants are required to submit one hard copy of the technical and financial proposal in separate sealed envelopes marked “Consultant for converting an entity into a regulated financial institution“ at the address given below. Softcopies of both technical and financial proposals must also be submitted via email address Financial proposal must be password protected.All terms and conditions shall be as per Karandaaz’s policy. In case of any conflict, Karandaaz’s decision shall be deemed final.ADDRESS: Karandaaz Pakistan, 1 E Ali Plaza, Mezzanine Floor, Nazimuddin Road, D-Chowk,Islamabad, Pakistan Phone # 051-8449761Note: The offer must be valid for 60 days after the closing date of the proposal submission date. Karandaaz may request additional documentation from the selected individual before awarding a contract.Please fill the following infomation to view the application submission information.EmailPhoneSaveHow to apply?

Expected salary:

Location: Islamabad

Job date: Sat, 22 Mar 2025 07:20:56 GMT

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