Central Bank Legal and Regulatory Expert -Expetise de France Retour vers les opportunités

Background

Considering the Libyan context and current economic needs, establishing the E-nable project is essential to support Libyan institutions and the private sector in economic governance and digital transformation. The project utilizes the expertise acquired by Expertise France in Libya over the past several years while building on the World Bank’s analyses and OECD studies to brace the transition towards digitalization and support the foundation for a dynamic, diversified economy and a competitive private sector.

The European Union funds this three-year project to the tune of €5M and entrusts Expertise France with its implementation. E-nable aims to complement, support, and deepen the work carried out by the ongoing EU4PSL and RAQAM-E projects. The overall objective of the action is to improve the capacities of key economic institutions for sustainable, diversified, and digital economic recovery to institutionalize the private sector’s economic growth with the support of both private and public sector organizations.

 E-nable consists of three main components which are closely linked in terms of the objectives and activities they seek to achieve, they mainly focus on: strengthening the capacities of the Ministry of Economy and Trade and related stakeholders in designing public policies for economic diversification (C1), contributing to leveraging digital innovations for inclusive and sustainable development in Libya (C2), and encouraging financial institutions to extend credit to the private sector and provide financial tools and solutions to SMEs (C3).

Description of the Assignment

Background of the specific mission

The implementation of component three (C3) is done in close collaboration with the Central Bank of Libya (CBL) and it will aim at achieving the following:

• Develop the credit infrastructure by strengthening the capacities of the Libyan Credit Information Centre and improving its services ;
• Create a conducive regulatory environment for fintech development in order to enhance financial access to digital financial services in Libya;
• Create a conducive regulatory environment for the development of the leasing market in Libya and strengthen the capacities of a leasing company;
• Improve banks’ potential activity in the financial sector as well as their overall performance, leading to the supply of financial products/services to MSMEs;

The expert is expected to provide its in-depth knowledge and understanding in the areas of financial regulation and supervision. 

Main Tasks

The expert will be in charge of supporting the Central Bank of Libya in the following activities:

• Conduct detailed analysis of legal and regulatory issues and gaps related to electronic payments development in Libya;
• Support CBL to identify a priority area of intervention in terms of regulating the electronic payments in Libya;
• Develop and provide regulatory recommendations on the pre-identified priority area on electronic payments to ensure that it conforms with national and international standards and practices;
• Develop and provide a comprehensive regulatory framework on financial leasing to ensure that it conforms with national and international standards and practices;
• Give accurate and timely advice to the Payment Department and to the Monetary and Supervisory Department of the CBL in the above-mentioned regulatory areas.

Deliverables and Reporting

• A diagnostic study on current legal and regulatory issues relating to electronic payments;
• Draft regulations identified by the CBL on electronic payments;
• Draft a comprehensive regulatory framework for financial leasing;
• Meeting report after each workshop organized with the CBL.

Expert Profile

• Master Degree in Business Administration, Economics, Finance, or a related field;
• Minimum of 15 years professional experience in policy or analytical work in areas such as macroprudential policy, financial regulation and supervision, financial stability arrangements and financial integration;
• Minimum 5 years of experience in delivery of advisory services in the areas of financial regulation and supervision to Central Banks in North African region;   
• Knowledge of the work currently being conducted in North Africa region on the reform of the legal and regulatory frameworks with particular focus on fintech and financial leasing;
• Extensive experience in presenting the results of empirical or legal analyses and broader policy arguments in a clear, concise, and non-technical manner in reports, and policy discussions;
• Proven interpersonal relations as well working experience in post-conflict countries;
• Strong analytical and organizational skills;
• Excellent knowledge of English language.

Location and Duration

Duration: up to 90 days 

Period: 01/04/2022-30/06/2023

Location: Home country with frequent trips to Tunisia and Libya.

Time Sheet: at the end of each month, the expert will present a timesheet, which will be signed by the project director. 

The timesheet should indicate a brief description of activities performed during the month. 

Language 

The working language of the program and the language used in all reports and communications between the consultant and the team shall be English. 

Assigned Key Expert: Lisjana Hila

Date: 28/03/2022