CONSULTANT SERVICES – SELECTION OF FIRMS - Strategic assignment focused on the enterprise grade validation, enhancement, client engagement, and pilot implementation of the Credit Incentive and Enhancement System (CIES)

CONSULTANT SERVICES – SELECTION OF FIRMS - Strategic assignment focused on the enterprise grade validation, enhancement, client engagement, and pilot implementation of the Credit Incentive and Enhancement System (CIES)

Active

Issue Date

19 May 2026

Last date of submission

21 June 2026

Tender Type

Expression of Interest

Project code

ZZZ2760

Project title

Credit Incentive and Enhancement System (CIES) Implementation

Email

cp.isdbi@isdb.org

Documents

REOI-CIES_ZZZ2760.docx44.06 KB

ToR-CIES_ZZZ2760.docx33.15 KB

REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTANT SERVICES – SELECTION OF FIRMS)

Country: Saudi Arabia

Project Name: Credit Incentive and Enhancement System (CIES) Implementation

Sector: Islamic Finance / Financial Inclusion / Fintech

Mode of Financing: Islamic Finance Grant

Financing No: ZZZ2760

The 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), and

• deploying 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 Report

• MVP Technical Review & Enterprise Readiness Report

• Enhanced and Configured CIES Platform

Technical Environment & Integration Documentation

• Validation, Testing & UAT Documentation

• Knowledge Transfer & Adoption Package

• Final Implementation & Support Roadmap

Duration: 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 Record

• Experience in financial systems and fintech platforms, particularly in Islamic finance

• Experience in deploying, validating, or enhancing production‑grade digital platforms

• Regional and institutional familiarity, including previous work with MDBs or IFIs

2. 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 Expertise

• Strong technical leadership in enterprise systems and fintech platforms

• Domain expertise in Islamic finance and credit risk

• Proven capability in client engagement, training, and change management

(Key experts will be assessed at th