UNCDF is looking for a registered entity that can develop an interoperable fund transfer platform between banks where a banked customer can remit funds to an unbanked or other bank’s customer.
The sender shares a cash out code with the receiver, who can use the code to withdraw cash from any bank’s touchpoint.
The selected entity should use an Open Source real time payment framework and platform. An open source platform will allow any technology development and learnings to be passed to Bangladesh Bank or another national scheme operator in the future.
Platforms such as Mojaloop are well suited as they are designed specifically for last mile payments across several classes of FSPs (Banks, MFIs, Mobile money operators etc).
The requirement is to support such efforts by having more of use cases that most clearly serve the poor and the low income first, in particular the most marginalized such as micro-merchants, women and youth.
- The foreseen budget assigned by UNCDF will be up to USD 300,000. Applicants are expected to fund at least 30% of the total project cost in cash (for costs such technical resources, staff, and operational expenses).
- The solution proposed must be implementable during 12 months and ending by October 2022.
- The applicant/ lead applicant must be a registered entity and incorporated in Bangladesh.
- The applicant should be operating in Bangladesh for at least 2 years.
- The applicant should have audited financial statements for at least 2 years.
- Applicants may apply only once under this RFA, whether independently or in a consortium. Applications from consortiums of organizations must show that the partnership was established prior to this call for applications or due to this call for application with a letter of intent.
- The solution proposed must be implementable with a project duration of 12 months and ending by October, 2022.
- Applicants must contribute at least 30% of the project’s cash costs (costs may include technical infrastructure, resources, and operations).
- Applicants shall not have been the subject of bankruptcy, liquidation, judicial settlement, safeguarding, cessation of activity or any other similar situation resulting from a similar procedure.
- Applicants and any of their staff or member of their board of directors shall not be included in the United Nations financial sanctions lists, particularly in the fight against the financing of terrorism and against attacks on international peace and security; and
- Applicants must not be involved in any of the following activities: manufacture, sale or distribution of controversial weapons or their components, including cluster bombs, antipersonnel mines, biological or chemical weapons or nuclear weapons; manufacture, sale or distribution of armaments and/or weapons or their components, including military supplies and equipment; replica weapons marketed to children; manufacture, sale or distribution of tobacco or tobacco products; involvement in the manufacture, sale and distribution of pornography; manufacture, sale or distribution of substances subject to international bans or phase-outs, and wildlife or products regulated under the CITES; gambling including casinos, betting etc. (excluding lotteries with charitable objectives); violation of human rights or complicity in human rights violations; use or toleration of forced or compulsory labor; use or toleration of child labor.
- Applicants shall have fullfilled all the obligations relating to the payment of social security contributions or obligations relating to the payment of taxes in accordance with legal provisions in force in the country of incorporation.
- Applicants must accept the language of UNCDF Performance Based Agreement.
For more information, visit https://www.uncdf.org/article/6973/rfa-interoperable-domestic-remittance-system-digital-infrastructure-for-merchants-women-and-youth