OREANDA-NEWS. January 27, 2010. The EBRD informs that the tender will be closed at 5 pm (Baku time) on 17 February.

The Bank indicates that the Baku Stock Exchange (BSE) was established in 2000. Trading volumes remained relatively low (less than AZN 100 million) during the first five years of BSE’s existence but showed a marked increase over the last four years hitting AZN 9.5 billion (approximately 8.2 billion euro) in 2008. The BSE approached EBRD with a request to provide technical cooperation to aid the development of the Azerbaijani capital market through the design and implementation of a capital market training programme and general advisory services (the “Assignment”).

The Assignment has two objectives. The first is to provide the BSE staff and key capital market participants with training based on an abbreviated curriculum of Level 1 of the Chartered Financial Analyst ("CFA") programme.

The second objective of the Assignment is to provide BSE’s senior management with general advice on risk management, strategic planning, trading mechanisms, exchange structure and such other issues as BSE may request. It is expected that the Consultant will dedicate approximately 4 weeks to this objective.

The Consultant shall perform all studies, analyses, investigations and related work as required to attain the objectives, including sustainability of the initiative; the main scope of work will be to:
Develop of a training programme and agenda based on an abbreviated curriculum of Level 1 of the CFA programme;

Develop in English and Azerbaijani relevant course materials, documentation and evaluation literature, including a self-study handbook to enable potential capital markets participants, not able to attend courses in person, to increase their skills;

Train and test staff of BSE and key capital market participants so as to increase their institutional capacity, level of know-how and expertise in according with the training programme and agenda using the course materials outlined above;

Provide BSE’s senior management with general advice on risk management, strategic planning, trading mechanisms, exchange structure and such other issues as BSE may request.

It is envisaged that the assignment will start in March/April 2010 and will last 5-7 months with the possibility of extension, subject to availability of funding and satisfactory performance of the Consultant.

Maximum Budget available for the Assignment: EUR 214,997; exclusive of VAT.