Credit Incentive and Enhancement System (CIES) Implementation

2026-11-03

REQUEST FOR EXPRESSIONS OF INTEREST(CONSULTANT SERVICES – SELECTION OF FIRMS)Country: Saudi ArabiaProject Name: Credit Incentive and Enhancement System (CIES) ImplementationSector: Islamic Finance / Financial Inclusion / FintechMode of Financing: Islamic Finance Grant Financing No: ZZZ2760The Islamic Development Bank Institute (IsDBI) invites Expressions of Interest from qualified consulting firms or consortia to undertake a strategic assignment focused on the enterprise‑grade validation, enhancement, client engagement, and pilot implementation of the Credit Incentive and Enhancement System (CIES).IsDBI has developed a functional Minimum Viable Product (MVP) of the CIES platform, with core features implemented and documented in a Functional Specification Document (FSD). While the MVP demonstrates the complete functional concept of CIES, it has not yet been validated or deployed in a real‑world institutional environment.The purpose of this assignment is not full greenfield system development, but rather to:technically validate and enhance the existing MVP so that it meets enterprise‑grade standards,identify and engage a suitable pilot credit provider (not limited to banks; it can also extend to service providers such as telecommunications companies and similar entities), anddeploying the enhanced system in a live pilot environment.The Credit Incentive and Enhancement System (CIES) is a strategic initiative by the Islamic Development Bank Institute (IsDBI) designed to modernize credit management through a blockchain‑enabled, reputation‑based framework. The system replaces traditional punitive late‑payment mechanisms with a Sharia‑compliant incentive model that rewards timely repayment, strengthening beneficiaries’ credit profiles and future borrowing capacity.At its core, CIES integrates a Takaful (Mutual Insurance) pool, funded through structured contributions, to mitigate default risks. This approach shifts risk management from charitable redistribution toward a sustainable, self‑insuring ecosystem that supports responsible financial behavior while remaining fully Sharia‑compliant.The CIES core functionality has been implemented and tested as an MVP and will be provided to the selected consultant as the baseline solution for enterprise validation, enhancement, and pilot deployment.Project Deliverables: The selected consultant is expected to deliver, at minimum, the following outputs (for details please the attached ToR):Client Identification, Engagement & Onboarding ReportMVP Technical Review & Enterprise Readiness ReportEnhanced and Configured CIES PlatformTechnical Environment & Integration DocumentationValidation, Testing & UAT DocumentationKnowledge Transfer & Adoption PackageFinal Implementation & Support RoadmapDuration: The consultancy assignment is expected to commence in September 2026 and is anticipated to span approximately 4–5 months (estimated 18 weeks), subject to client readiness and the extent of enhancements required following technical validation.The draft TOR for the assignment is attached to Annex-1.Submission Details:Expressions of Interest should be comprehensive and include:Detailed company or consortium profile.Evidence of relevant experience and successful projects in similar domains.Any additional information that aligns with the objectives and requirements of the detailed ToR.Shortlisting criteria: Consultants will be shortlisted based on the following criteria:1. Corporate Experience and Track RecordExperience in financial systems and fintech platforms, particularly in Islamic financeExperience in deploying, validating, or enhancing production‑grade digital platformsRegional and institutional familiarity, including previous work with MDBs or IFIs2. Technical Methodology and Approach The firm needs to provide past performance data or case studies demonstrating their successful delivery of similar projects.3. Key Personnel and ExpertiseStrong technical leadership in enterprise systems and fintech platformsDomain expertise in Islamic finance and credit riskProven capability in client engagement, training, and change management(Key experts will be assessed at the proposal stage in accordance with the ToR.)The attention of interested International Consultants is drawn to Paragraphs, 1.23, and 1.24 of the Guidelines for Procurement of Consultant Services under Islamic Development Bank Project Financing (the “Procurement Guidelines”), setting forth IsDB’s policy on conflict of interest: https://www.isdb.org/project-procurement/sites/pproc/files/documents/PPR%20Guidelines-Consultants-ENG.pdf Consultants may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected. A consultant will be selected in accordance with the Fixed Budget Selection (FBS) method as set out in the Procurement Guidelines.Interested consultants may obtain further information at the address below during office hours; 8:30 to 16:30 hours Jeddah Local Time.Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) by the date of 21 June 2026. THE ISLAMIC DEVELOPMENT BANK INSTITUTEAttention: The Islamic Development Bank InstituteEmail: cp.isdbi@isdb.org

Saudi Arabia

2026-05-21