Consultant to develop Non-Interest Finance Guidelines Ghana

Organizational Context

The Economic Commission for Africa (ECA), under the UN Secretariat, seeks a consultant to develop Non-Interest Finance Guidelines for Ghana. This role operates from Addis Ababa and aims to enhance transparency, investor confidence, and Shariah compliance within the capital market, contributing to capacity building.

Job Purpose

The purpose of this consultancy is to develop comprehensive guidelines for non-interest finance in Ghana, ensuring Shariah compliance and enhancing market transparency and investor confidence. The role involves creating frameworks for issuance, trading, and settlement of financial instruments, assessing market infrastructure, and mitigating specific risks. Additionally, the consultant will develop investor protection guidelines and recommend training programs to build capacity among market participants and regulators. This contributes to the ECA's mandate of fostering economic development and sound financial practices in Africa.

Responsibilities

The consultant will develop comprehensive guidelines for the issuance, trading, and settlement of non-interest financial instruments and products, including Islamic Funds and REITs. Key duties include establishing Shariah compliance guidelines for all market activities and the role of supervisory boards. The consultant will assess and recommend improvements to market infrastructure supporting non-interest finance. Developing strategies to mitigate specific risks such as credit, market, and operational risks is crucial. Furthermore, the role involves creating guidelines for investor protection and fair market practices, and recommending/implementing training programs for market participants, regulators, and the public.

Work Experience

A minimum of 5 years of progressive experience in Islamic finance and global Shariah capital markets is required. Experience formulating Islamic finance regulations is essential. Experience with government entities, capital market regulators in sub-Saharan Africa, and international Islamic standards bodies is desirable.

Skills

Islamic Finance, Capital Markets, Shariah Compliance, Financial Instruments, Risk Mitigation (Credit, Market, Operational), Regulatory Formulation, Training Program Development, English and Arabic Language Proficiency.

Explore related opportunities