National Bank of Tajikistan (NBT) is overhauling its market infrastructure with a new automated transfer system (ATS) and central securities depository (CSD) platform. It has been granted $10 million in funding from the World Bank to carry out the project and is now evaluating expressions of interest from eligible suppliers.

Dushanbe, Tajikistan (© Wikipedia)

Dushanbe, Tajikistan (© Wikipedia)

National Bank of Tajikistan (NBT) is in system selection mode with a view to redeveloping its market infrastructure. An RFP was circulated inviting expressions of interests from consultants to replace its real-time gross settlement system with a new automated transfer system (the latter is a combination of both clearing and settlement capabilities), and to install a new platform for a central securities depository (CSD).

The initiative is being carried out under the auspices of the World Bank, which has provided a $10 million loan to carry out the redevelopment. The deadline for proposals was at the end of September. A virtually identical document was circulated last year, but this selection appeared to have not come to fruition.

The document expresses that the successful vendor must have practical experience (not less than seven years) in implementing RTGS, ATS and CSD systems, knowledge of the relevant World Bank procedures and have successfully completed at least two similar projects. The main suppliers in this space include Perago (a subsidiary of Italy-based software house SIA), Montran Corporation and CMA Small Systems.

By Jan Metcalf

by IBS Intelligence