consultancy service to provide NPS Cheque Standardization and Truncation for CBS

FEDERAL GOVERNMENT OF SOMALIA The Ministry of Finance REQUEST FOR EXPRESSION OF INTEREST (REOI)

Country:

Federal Government of Somalia (FGS)

Name of the Project:

Somalia Productive, Resilient and Inclusive Growth Project (SPRING),

Assignment Title:

Cheque Standardization and Cheque Truncation System (CTS) Framework

Project ID:

P501662

Deadline for submission of EOI

13th August 2026 4: 00pm

Individual/Firm:

firm Selection

Ref No. SO-MOF-555946-CS-CQS 1. Background : In May 2025, the Federal Republic of Somalia, through its Ministry of Finance (MoF) launched the Somalia Productive, Resilient, and Inclusive Growth (SPRING) project. The project development objective is to promote private sector-led growth and job creation by improving the business-enabling environment, strengthening the financial system, and enhancing access to finance. The SPRING project is organized around four components (three mutually reinforcing and one supporting): (i) Component 1: Improving the enabling environment for the private sector; (ii) Component 2: Deepening financial sector reforms and strengthening institutional capacity; (iii) Component 3: Enhancing access to finance and resilience for MSMEs; and (iv) Component 4: Project Management. A wide range of activities will be implemented as part of this project to reach its development objective, such as improvements to regulatory/institutional frameworks, the rollout of the digital ID system, financial sector reforms, the creation of a risk-sharing mechanism, and the provision of business development services for micro, small and medium enterprises in select economic sectors, among others. The MoF received US$105 million from the World Bank, including US$10 million from the Somalia Multi-Partner Fund to implement the SPRING project. As part of this initiative Deepening financial sector reforms and strengthening institutional capacity, MoF intends to apply part of the proceeds from the World Bank to finance the Consultancy Service to National Cheque Standardization framework and implement a Cheque Truncation System (CTS). (firm) 2. Responsibilities: The purpose of this assignment is to engage a qualified consulting firm (“Consultant”) to Conduct a comprehensive assessment of current cheque usage, design, and clearing practices in Somalia; Develop National Cheque Standardization Guidelines, policy, and procedures aligned with international best practices in the East African Community (EAC); Design the operational and technical framework for a national Cheque Truncation System (CTS); Develop National Cheque Clearing and Truncation Rules (CCTR); Provide technical specifications and requirements to support the procurement of a CTS vendor; Provide capacity building and training for CBS and financial institutions. All other specific tasks detailed in the Terms of Reference (TOR) for the assignment can be found at the following website link: https://centralbank.gov.so/wp-content/uploads/2026/07/Consultancy-Firm-for-Cheque-Standardization-and-Cheque-Truncation-Framework_TOR-11.pdf

3. Duration: The firm is expected to complete the proposed assignment within 12 Months.

4 . The Ministry of Finance invites eligible