Tajikistan Securities Market Assessment Consultant At Palladium International

About Palladium

Palladium is a global company working to design, develop and deliver positive impact on the lives and livelihoods of people around the globe; broaden access to health, water, power, and infrastructure; build enduring, sustainable, and transformative institutions and market systems to address global challenges; and conserve the natural world. We operate in over 90 countries and have a workforce of 3,000 talented, motivated, and diverse staff of all religions, races, languages, and gender identities.

Palladium Americas

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Project Overview

USAID/Central Asia’s Future Growth Initiative is designed to spur productive economic activity across Central Asia, including Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, by increasing the competitiveness of high-growth industries and providing jobs and incomes for Central Asia’s growing workforce, propelling the region toward self-reliance. Target sectors include Information and Communications Technology (ICT), Light Manufacturing (Apparel/ Garments/ Textiles), Tourism and Food Processing and Beverages. FGI will transform market systems in ways that help high-potential firms, leading organizations, and sectors grow, foster market linkages to match the demand for workforce skills with training offered to youth and women, link entrepreneurs to high-growth markets, and build more business- and worker-friendly policy environments and institutions to sustain private sector-driven growth. USAID FGI will address legal and regulatory constraints if they are determined to be significant inhibitors to growth.

This Opportunity

The economy of Tajikistan faces difficulties in finding funds to finance the national economy. The current model is based on attracting external foreign investment, migrant remittances, and dominated by budget financing of the economy. In order to ensure the investment climate and the development of the financial market, as well as the securities market in the Republic of Tajikistan, the Ministry of Finance of the Republic of Tajikistan developed and adopted several regulatory legal acts that regulate the securities market, including Law of the Republic of Tajikistan “On joint-stock companies”, Law of the Republic of Tajikistan “On the securities market” and others. However, the laws and regulations need to be reviewed and amended and supplemented to meet the realities of today.

To improve the business environment and the influx of investments in Tajikistan, it is necessary to analyze the country’s security market and identify new opportunities for building the capacity of this sector. USAID’s FGI project received an official request from the Agency for Development of Securities Market and Specialized Registrar of the Ministry of Finance of Tajikistan (the Agency) to provide technical assistance with diagnostic study of securities market and respective ecosystem.

The target of this work is to improve the business environment through adoption of recommendations aimed at arranging favorable business environments and machinery for operating securities market and to improve FGI target sectors in Tajikistan (FGI Indicator – Number of commerce laws and regulations simplified and implemented in accordance with international standards as a result of USG assistance).

The objectives of the field work are: (a) to assist TJ Government with getting a clear understanding of necessary securities market administration changes and machinery adjustment, and (b) to help the Agency to finalize the set of recommendations and assist with designing respective reforms related to securities market development.

Location

This position is located in Tajikistan.

Reporting and Supervision

The Consultant will work in close cooperation with FGI Tajikistan, FGI Component 3, the International Expert, and the Agency. The Consultant will report directly to the COP and Component 3 Lead.

Primary Duties and Responsibilities

The overall purpose of this STTA assignment is to provide technical assistance with the assessment of Securities Market of the Republic of Tajikistan, which should be managed by an international expert. The assessment will take a private sector-led approach to identify the most pressing constraints to business that will directly unlock greater investment and business growth.

In coordination with FGI Tajikistan, the Agency, and an International Expert, the Consultant will be responsible for providing support and assistance with the market assessment part of the diagnostic study of the securities market in the Republic of Tajikistan including the following duties:

• Provide field support to the International Expert working on the assessment and analysis of the Tajikistani securities market ecosystem, including an overview of the current institutional structure, key actors, the organizational system of the securities market, and its level of development;
• Provide field support to the International Expert, communicating with Securities Market’s actors, State Agencies, Government officials, etc. with the purpose of arranging respective discussions required under the market assessment part of the diagnostic study. Participate in meetings and calls, related to the market assessment, prepare and send out minutes of such meetings and calls to concerned parties, send reminders and follow up with various stakeholders on the deliverables expected of them;
• Gather additional clarifying information on the Securities market of Tajikistan upon requests received from the International Expert;
• Assist the International Expert with developing deliverables (market assessment part) for the Securities Market diagnostic study;
• Provide other field support and assistance for the market assessment part of the diagnostic study.

The consultant should work in close collaboration with International Expert assigned to lead the diagnostic study and develop recommendations.

The consultant should coordinate the market assessment part of the diagnostic study with the Agency and request assistance (if necessary) with organizing meetings and conference calls with key actors in, or associated with, the securities market.

Deliverables

The deliverable of this STTA assignment includes the developed market assessment part of the final report on the diagnostic study and a list of market development related recommendations. Working languages may be both Russian and English, but the final deliverable should be provided in English. The draft of the market assessment should be introduced to FGI and the Agency for review and feedback. If required, the Consultant should assist the International Expert with preparing the PowerPoint presentation on diagnostic study results and recommendations developed (in particular with Russian and Tajik languages).

Level of Effort

The Level of Effort for this position is up to 30 days, spread throughout the 120 calendar day period from date of assignment (July -August 2022).

Key Competencies Required

• Bachelor’s degree in finance, management, business administration, economics, socio-economic development, or other related fields;
• Minimum of 3 years of experience working in areas related to brokerage services, securities markets, and/or stock exchange operations;
• Understanding of the securities market industry, roles and responsibilities of key actors and regulators;
• Demonstrated analytical, writing, communication and reporting skills;
• Fluent Russian is required. Subject-specific English language skills are preferred.

Application Closing Date August 7, 2022

Equity, Diversity & Inclusion – Palladium is committed to embedding equity, diversity, and inclusion into everything we do. We welcome applications from all sections of society and actively encourage diversity to drive innovation, creativity, success and good practice. We positively welcome and seek to ensure we achieve diversity in our workforce; and that all job applicants and employees receive equal and fair treatment regardless of their background or personal characteristics. These include: (but are not limited to) socio-economic background, age, race, gender identity and expression, religion, ethnicity, sexual orientation, disability, nationality, veteran, marital or Indigenous status.

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