1. Project Background
Business Finance for the Poor in Bangladesh (BFP-B) is a £25 million facility funded by UK aid from the UK government. The Bangladesh Bank (BB), the central bank of Bangladesh and Microcredit Regulatory Authority (MRA), are the implementing agencies, and the Financial Institutions Division (FID) of the Ministry of Finance (MoF), Government of Bangladesh (GoB), is the executing agency. Nathan Associates London Ltd, in consortium with its partner, Oxford Policy Management, is appointed as the management agency for the programme. The programme aims to improve access to finance for micro and small enterprises (MSEs) and create economic opportunities for small businesses in Bangladesh through improvements in the policy and regulation of financial services, innovations in the nature and scope of financial services targeting the poor, and strengthening of information systems supporting micro-finance and bank lending. BFP-B has three components: a Challenge Fund, a CIB-Microfinance, and a Policy Component.
The Challenge Fund catalyse and support innovative financing products and delivery channels to foster financial inclusion at micro level ; the Microfinance Credit Information Bureau (MF-CIB) will improve knowledge of microfinance borrowers in terms of cash flow management and credit history and the Policy component works to generate evidence  to facilitate a collaborative approach to financial sector policy and regulatory reform to create an enabling regulatory environment for the MFI sector in Bangladesh and increasing financial inclusion for small business.

2. Background to the Microfinance sector in Bangladesh and the MF-CIB component
Microcredit Regulatory Authority (MRA) was created by the Government of Bangladesh in 2006 to regulate and supervise activities of all MFIs. As of June 2017, total 699 MRA licensed MFIs disbursed BDT 1,046 billion to 24.85 million borrowers and the loan outstanding was BDT 583 billion and savings outstanding of BDT 216.71 billion . The Microfinance sector in Bangladesh has observed remarkable growth over the last five years (from June 2013 to June 2017) in terms of loan disbursement (142% growth), loan outstanding (127%) and savings (131%). However, the growth of clients was 22% and borrowers was 29%.
A Microfinance Credit Information Bureau (MF-CIB) is being jointly established by MRA and Bangladesh Bank in response to regulatory concerns over client protection and systemic risk.  Business Finance for the Poor in Bangladesh (BFP-B) is providing all operational support for the establishment with financial support from DFID, while the project is being managed by Nathan Associates, London- a management consulting firm.  The MF-CIB will build credit history of individual borrowers to improve their creditworthiness.

3. Background and Context of the Assignment
To operationalize MF-CIB, the rules and guidelines need to be developed by MRA to ensure data protection and security and use of data. BFP-B is hiring a legal advisor for the Microfinance Credit Information Bureau (MF-CIB) on behalf Microcredit Regulatory Authority (MRA) as it is responsible for dealing with all and any issues related to MF-CIB operation. To bring MFIs under a regulatory frame work Microcredit Regulatory Authority was established in 2006 and with view to ensuring transparency and accountability of microfinance activities in the country. The authority is empowered and responsible to implement Microcredit Regulatory Authority act, 2006 combined with Microcredit Regulatory Authority Rules, 2010. The Legal Advisor position is very important to furnish and build-up a full-fledged MF-CIB regulatory frame work and also set rules for approval by the Ministry of Finance.

4. Scope of work and Time frame
The consultant will be contracted for a total of 80 input days that would spread over approximately 05 months between November 2018 and March 2019.

The consultant will undertake a comprehensive legal review of the Bangladesh Bank Order 1971, Bank Company Act 1991 (Including Amended), Microcredit Regulatory Authority Act 2006 and Microcredit Regulatory Authority Rules 2010, Societies Registration Act 1860, The Trust Act 1882,The Voluntary Social Agencies (Registration and Control) Ordinance 1961, Foreign Donation (Voluntary Activities) Regulation Act 2016, National ICT Policy, 2018, Information Disclosure Policy 2015 and RTI Act 2009 ( Department of Social Services),  Grameen Bank Act 2013 and other relevant Act/Rules to establish the following:

• Review of MRA Acts/Rules and relevant laws and legal frame work of existing Credit Information Bureaus of Bangladesh Bank and other countries in the world.
• Extent and scope of collection, sharing and disclosure of microfinance clients’ information among the microfinance groups (samities), among the MFIs and other financial institutions;
• Recommendation for amendment or set new Rules for defining, collection, furnishing microcredit information to establish Credit Information Bureau for microfinance sector (MF-CIB).
• A full fledged MF-CIB Policy Guideline including reporting, database management, data protection ICT Policy and Security issues for related users of Microfinance Sector.
• Provide necessary technical input to the professional translator in translating the English version of MF-CIB Policy Guideline to Bengali.
• Other relevant/required matters.

5. Deliverables

6. Competencies

• Focuses on result and responds positively to feedback;
• Consistently approaches work with energy and a positive, constructive attitude;
• Remains calm, in control and good-humoured even under pressure;
• Demonstrates openness to change and ability to manage complexities;
• Interacts with others in a professional, respectful, and friendly manner;
• Builds strong relationships with external actors;

Communicates clearly and convincingly.
                        

7. Required Skills and Experience

Education and Experience

• At least a Bachelors Degree from an accredited college or University in law. Master’s Degree or Barrister-at-law degree will definitely be preferred.
• At least 10 years of professional experience in financial sector regulation review and assessment in Bangladesh and/or other countries.
• Enrolment in the Appellate Division of the Supreme Court of Bangladesh will be an advantage.
• Advance academic /professional qualification having proven working experience in credit management in Banking Sector/Microcredit Sector will be encouraged.
• Must have vast knowledge in policy formulation related to finance and ICT base work.
• Must have strong and proven written and oral communication and presentation skills.

Language skills: Fluency in English and Bangla

Application Process
Candidates are requested to download Application Form from by visiting BFP-B website https://www.bfp-b.org and send application to mhasnat@nathaninc.com .  The application should include following:

• Complete application form
• Curriculum Vitae

Last Date of Application: 03 November, 2018
BFP-B offers equal employment opportunity