Technical Assistance for Central Bank Reform in Bangladesh

The Foreign Commonwealth and Development Office (FCDO) is seeking a service provider or a consortium of service providers to offer technical expertise to the Bangladesh Bank and the Government of Bangladesh. This contract, part of the Transformative Economic Policy Programme - Bangladesh (TEPP), focuses on legal reform to enhance the independence and efficiency of the central bank. The project is urgent and requires quick mobilization of experts to deliver the following key outputs: 1. Conduct a rapid needs assessment through consultations with senior management of Bangladesh Bank, FCDO, and other stakeholders. 2. Prepare an advisory report with tailored recommendations on central bank independence for Bangladesh. 3. Provide quality assurance and drafting support for new legislation aimed at establishing an independent central bank. 4. Develop an advisory report on the formation and functioning of independent monetary policy and financial stability committees. 5. Offer recommendations for improving governance processes and accountability mechanisms at Bangladesh Bank. 6. Create a prioritized implementation plan for reforming the bank's internal structures and processes, with two phases: phase one to be completed by 2025 and phase two by 2026. 7. Support change management and internal communication to ensure a smooth transition. 8. Successfully execute phase one, ensuring a seamless transition to the new management structure with minimal disruption. 9. Design a modern human resource and talent management strategy that promotes accountability, collaboration, and efficiency.