OREANDA-NEWS. August 19, 2008. The National Bank of Azerbaijan (the “NBA”) in accordance with the Law of Azerbaijan Republic On public procurements announced an open tender to procure a portfolio management system, reported the press-centre of NBA.

The NBA is seeking to implement a portfolio management system for the management of its foreign exchange reserve assets. As of July 30th, 2008, the reserve assets stood at approximately USD 5 billion.

The tender is open to financial technology companies that offer a functionally rich and high-performance portfolio management system. A company participating in the tender should have five (5) years of experience in developing and distributing institutional portfolio management systems, an international institutional client base and annual revenue of at least USD 5 million directly related to the sale of the proposed portfolio management system.

The NBA will send by e-mail and certified mail a formal Request for Proposal (the “RFP”) in both the Azeri and English languages along with the accompanying bidding documents to those companies that have expressed interest and have paid the bidding fee of  1,000 AZN (or USD equivalent based on NBA official exchange rate on the payment day).

The bidding fee in USD shall be paid to the National Bank of Azerbaijan (SWIFT NABZAZ2X), Account No.021088221 with the Federal Reserve Bank of New York, New York (SWIFT: FRNYUS33) or in AZN to the National Bank of Azerbaijan Republic, Account No: 0170690001944 (code 501004, TPIN 9900071001). 

The interested companies shall send to the NBA via certified mail and e-mail no later than September 19, 2008 the following:

An expression of interest (letter of participation);

Documents and information ascertaining the bidder’s compliance with the bidder qualification requirements above;

Properly asserted copies of legal documents confirming bidder’s legal status (charter, certificate of state registration or extract from the registry, etc.);

The last audited financial statements;

A document authorizing the responsible person to act as signatory.
 
The NBA has set October 2, 2008 17:00 Baku time as the deadline for submission of tender proposals in response to the RFP. Bids shall be sent to the NBA principal address at  32, R. Behbudov Avenue, Baku AZ1014, Azerbaijan. A bid guarantee shall be included with the bid in the form of a bank guarantee in the amount and manner specified in the RFP.

Opening of tender proposal bids will take place at 11:00 Baku time on October 3, 2008 at the administrative building of the NBA. Companies participating in the tender may send an authorized representative to the opening of tender proposals.

The tender proposals will be evaluated based on the evaluation criteria such as price, functionality, technology, etc. specified in the RFP.

Questions and inquiries regarding the RFP shall be emailed to tender_pmsystem@nba.az or faxed to (994 12) 498-0363 to the attention of Ms. Nigar Mammadova, Director of Market Operations Department.

Information about the NBA can be obtained from the NBA official website at www.nba.az.