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Invitation for Expression of Interest for external assessment of the effectiveness of Sanctions Compliance system of KDB Bank of Uzbekistan

The Management Board of KDB Bank Uzbekistan JSC invites Expression of Interest (EOI) from Your reputed company, to undertake the work of external assessment of the effectiveness of Sanctions Compliance system of the Bank.

Based on the EOIs, the External (Audit) Companies shall be short listed and invited to submit technical and financial offer. The process would be quality and cost-based selection method. The firms are expected to include in their EOI the following information with documentary evidence:

1. Date on establishment of firm;

2. Details of partners, full time staff indicating the nature of specialization, qualifications and industry experience (in particular, in local and international banking industry) considering requirements for the current assignment;

3. The general and overall experience during last five financial years of the firms including experience in external assessment of sanction compliance system in banking sector;

4. The firms must satisfy following criteria and in case if failing which they will be summarily disqualified*:

- The applicant is empaneled with the Central Bank of Uzbekistan in the panel of External (Audit) Companies eligible for banking audits;

- No partner of the External (Audit) Companies or any qualified employee of the firm is related to any member of the Shareholders/ Supervisory Board/ Management Board. Relative or affiliate lines are considered under applicable local law and generally accepted ethical standards and principles; 

- Neither the firm nor its Partners or Associate have any interest in the business of the Bank;

- The assessment will not be done by a person who was either an employee in the bank or a partner/employee of the retiring auditor, unless such person is employed with the firm for at least one year;

- The External (Audit) Company is not one against which disciplinary orders have been issued by the Central Bank of Uzbekistan or local/foreign accounting authorities and these orders are in force.

The EOI should be delivered at the address given below during working hours, on or before September 4, 2024 positively: KDB Bank Uzbekistan JSC, Tashkent, Bukhara st.3. The firm should submit the EOI in an envelope duly sealed and marked clearly “Expression of Interest for assessment of the effectiveness of Sanctions Compliance system of KDB Bank of Uzbekistan”. Please contact for further details and queries: +998781202859 or send email to: info@kdb.uz and/or Omonjon.Boltaev@kdb.uz.

 * In support of meeting the Minimum Eligibility Criteria, the AC submits documentation as specified below: a) Copies of licenses and certifications of experts to be involved in the assessment issued by the Professional Associations and/or other authorities; b) A declaration signed by an authorized partner of the AC that no partner of the firm has been found guilty of professional/other misconduct by the Code of Conduct of the AC, the Central Bank of Uzbekistan and other Professional Association of Accountants; or is one against whom disciplinary sanction orders have been passed; c) A declaration signed by an authorized partner of the AC verifying that the applicant is independent of the bank  that they have no relationship with the bank (in particular, the assessor  should not be employed by, serve as director for, or have any financial or close business relationship with the bank during the period(s) covered by the assessment or immediately thereafter for a period of one year);d) A copy of the AC license for audit activity; e) Additionally, EOIs should provide sufficient information relate to the firm so that the bank may evaluate the assessors’ capabilities and eligibility to undertake the assignment.