Тендер

REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTANT SERVICES – SELECTION OF FIRMS)

Date of publication: Dec. 31, 2025

REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTANT SERVICES – SELECTION OF FIRMS)

Country: Kyrgyz Republic

Name of Project: The Shariah-compliant Affordable Housing Financing Project

Name of Sector: Housing and Urban Development

Consulting services: Financial Audit of the Project

Mode of Financing: Instalment Sale

Project Code. KGZ-1028

1. The Kyrgyz Republic has applied financing from the Islamic Development Bank (IsDB) toward the cost of the Shariah-Compliant Affordable Housing Finance Project and intends to apply part of the proceeds for consulting services to engage an independent audit firm.

2. The services include the audit of the Project Financial Statements (PFS) covering all funds received and disbursed under the Project, including IsDB financing and beneficiary contributions. The auditor is expected to provide a professional opinion on whether the PFS present a true and fair view of the financial position of the Project and whether the expenditures were incurred in accordance with the Financing Agreement and IsDB procurement guidelines. The auditor shall also verify that project transactions and reporting are consistent with the Shariah-compliant financing modality (Instalment Sale) and related provisions of the Financing Agreement and project documentation

3. The auditor will also assess compliance with the IsDB’s disbursement procedures, the use and balance of the Special Account (if applicable), the adequacy of internal controls, the procurement of works and services, and the eligibility of expenditures included in withdrawal applications and cost reports.

4. The audit shall be conducted in accordance with International Standards on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB) or equivalent standards such as those of INTOSAI. The audit will include verification of supporting documentation, reconciliation of records, review of the fixed asset register, and inspection of selected project-financed assets.

5. The scope also includes a management letter outlining internal control weaknesses, ineligible expenditures (if any), and recommendations for improvement. The final audit report and management letter must be submitted no later than six months after the end of the financial reporting period.

6. The detailed Terms of Reference (ToR) for the assignment are available at the address below or can be requested by email.

7. The State Mortgage Company of the Kyrgyz Republic now invites eligible audit firms (“Consultants”) to indicate their interest in providing the services. Interested firms must provide information demonstrating that they are qualified to perform the services (description of similar audit assignments, experience in donor-financed projects, key staff qualifications, legal registration, and memberships in recognized accounting bodies).

8. The shortlisting criteria are:  
   i. Demonstrated experience (last seven (7) years) in auditing financial statements of donor-financed projects/assignments of comparable scale and similar complexity. For this REoI: “Donor-financed” includes projects financed by MDBs/IFIs (including IsDB), UN agencies, and bilateral development partners; “Large-scale / comparable scale” means assignments with total project financing and/or audited project expenditures of a comparable magnitude (to be evidenced in the firm’s references); “Similar assignments” include audits that cover project financial statements and verification of eligible expenditures, and where relevant review of withdrawal applications/claims and designated/special account movements; Minimum benchmark: at least three (3) comparable assignments as lead audit firm.   
   ii. Familiarity with IsDB or other MDB-funded project audit standards and procedures;
   iii. Demonstrated firm-level capability to conduct audits in accordance with international auditing standards (ISA/IFAC or equivalent), including internal QA/QC arrangements and availability of suitably qualified personnel; and possession of valid audit licensing/registration as required under the laws of the Kyrgyz Republic (where applicable)
   iv. (Desirable) Experience in the Kyrgyz Republic/Central Asia or in countries with similar governance and financial systems.

v. (Preferred) Familiarity with Shariah-compliant financing frameworks

9. Key Experts will not be evaluated at the shortlisting stage.

10. The attention of interested Consultants is drawn to Paragraphs 1.12.1 and 1.12.2 (Part 01, Chapter 01) of IsDB’s Guidelines for Procurement of Consultancy Services under Islamic Development Bank Project Financing (April 2019, revised February 2023), setting forth IsDB’s policy on conflict of interest (available at https://www.isdb.org/project-procurement/documents

11. Consultants may associate with other firms to enhance their qualifications. In the case of a joint venture, all partners shall be jointly and severally liable for the entire contract, if selected.

12. A consultant will be selected in accordance with the Least-Cost Selection (LCS) method through shortlist of domestic firms as set out in the Procurement Guidelines.

13. Interested consultants may obtain further information at the address below during office hours 09:00 to 18:00 hours (Bishkek time, GMT +6).

14. Expressions of interest must be delivered in a written form or electronically to the address below (in person, by courier such as DHL, or by e-mail) with the subject line: “EOI Financial Audit for The Shariah-compliant Affordable Housing Financing Project” by the 29th of January, 2026.

State Mortgage Company

Attention: Talant Tabylbekovich Zhekshenov

1, Chingiz Aitmatov Street, Bishkek, 720002, Kyrgyz Republic

Tel: +996  (502)402262

Email: info@gik.kg with copy to mdjaychibaev@gik.kg

Website: www.gik.kg