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WORLD BANK(WB) has floated a tender for Cgap Open Finance in Kenya. The project location is Kenya and the tender is closing on 01 Apr 2025. The tender notice number is 0002014905, while the TOT Ref Number is 116561753. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.
Procurement Summary
Country : Kenya
Summary : Cgap Open Finance in Kenya
Deadline : 01 Apr 2025
Other Information
Notice Type : Tender
TOT Ref.No.: 116561753
Document Ref. No. : 0002014905
Competition : ICB
Financier : World Bank (WB)
Purchaser Ownership : Public
Tender Value : Refer Document
Purchaser's Detail
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Login to see detailsTender Details
Objectives of this project The primary objective ofthis project is to support the Central Bank of Kenya (CBK) in the design of anopen finance framework for Kenya. The objective of the diagnostic study is toassess the preparedness of Kenya-s financial sector, regulatory and policyenvironment, and other necessary elements for the implementation of openbanking/open finance. The study will provide a comprehensive analysis of thecountry-s financial ecosystem, develop an implementation roadmap, and providespecific recommendations on the design of a robust framework for openbanking/open finance tailored to Kenya-s unique environment and the policyobjectives of the CBK. As a secondary objective, the vendor will support CGAP-s objectivesof public knowledge generation by leveraging the work done to inform thedevelopment of a guide on how to apply the KeyConsiderations for Open Finance recently published by CGAP, the BIS, IMF, UNSGSA and World Bank. Scope ofWork 1) Thediagnostic study is expected to cover: a) Policyobjectives • Definethe key policy objectives for open banking/open finance in Kenya and thebarriers in the current financial ecosystem open finance will address. • Determinethe enabling elements needed for open banking/open finance to achieve keypolicy objectives, including parallel initiatives which could strengthen theimpact of open banking/ open finance (e.g. the Fast-Payment System) • Exploreopportunities and high-potential use cases in banking, payments, credit, investments, insurance, and pensions to support these objectives. • Identifythe financial service providers needed to participate in open banking/openfinance in order to achieve the desired objectives, assess their readiness andwillingness to open banking/open finance, and any challenges associated withtheir participation. b) Legaland Regulatory Review • Evaluateexisting laws and regulations to determine if CBK has the necessary mandate andpowers to lead open banking/open finance implementation. • Identif...
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