Developing SUKUK Market in Afghanistan Consulting Services


Publish Date

Closing Date




The Ministry of Finance (Afghanistan) has received financing from the Islamic Development Bank toward the cost of the Developing Sukuk Market in Afghanistan Project and intends to apply part of the proceeds for consultant services. The services include consultancy services to draft (in English) three deliverables (a) Initial Market Study (b) National Sukuk Policy and (c) Sukuk Implementation Guidelines to promote the role and use of Sukuk for Afghanistan’s development. The project is expected to be implemented over a period of 12 months with the expected start date of assignment in January 2021. The detailed Terms of Reference (TOR) for the assignment are attached to this request for expressions of interest.

The Ministry of Finance (Afghanistan) now invites eligible consulting firms (“Consultants”) to express their interest (EOI) in providing the services. Interested consultants must provide specific information which demonstrates that they are fully qualified to perform the services in undertaking critical market study and developing customised/market-based sukuk policy and implementation guidelines for Afghanistan. The shortlisting criteria are:

  • Experience, capability and credibility of the project team with regards to advising on policy issues of Sukuk policy, guidelines, actual Sukuk structuring, and issuance of capital markets instruments.
  • Understanding of relevant international best practices, expert level knowledge of Sukuk, its practice, and markets.
  • Track record of the proposed team members and a commitment to their availability for the term of the consultancy service.
  • Ability to demonstrate communication skill in local languages, both written and verbal, will be added advantage.
  • Experience in local market research and fact-finding about the viability will be an advantage.
  • Ability to travel to Afghanistan, as frequently as needed, or stay in Afghanistan for the period of the assignment.

Note: Key Experts will not be evaluated at the shortlisting stage. Please do NOT submit any technical or financial proposal at this stage.

The attention of interested Consultants is drawn to Paragraphs, 1.23, and 1.24 of the Guidelines for Procurement of Consultant Services under Islamic Development Bank Project Financing (the “Procurement Guidelines”), setting forth IsDB’s policy on conflict of interest.

Consultants may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint-venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.

A consultant will be selected in accordance with Quality and Cost Based Selection (QCBS) method set out in the Procurement Guidelines.

Interested consultants may obtain further information at the email address below until the due date:    

Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by fax, or by e-mail) by 26 November 2020 16:00 hours Kabul Standard Time.

To: Legal Board, Minister’s Office

Attention: Mr. Sulaiman Rasouli – Legal Advisor

Ministry of Finance

Pashtunistan Watt

Kabul, Islamic Republic of Afghanistan;

Tel: +93772428485


ToR and other documents are attached for reference.

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