There is no formal credit infrastructure or any type of formal private sector data sharing arrangements nor movable collateral registry in Somalia yet. The private financial sector does not have adequate tools and information to assess the risks associated with MSMEs andindividuals nor adequate collateral; and thus chooses not to provide financing to them. The market has limited use for scoring applications or automated account management systems; as the low number of applications make it difficult to build statistical models.Within the context of the above; IFC is supporting THE CENTRAL BANK OF SOMALIA (CBS); in the development of a credit infrastructure ecosystem; that meets the needs of the country and supports financial institutions to make data driven lending decisions. IFC¡¯s initiative aims to expand access to finance for individuals and MSMEs by improving their credit risk management processes of the financial institutions and enabling the use of movable collateral by lenders through deploying a Credit Information System (CIS) and a Secured Transactions and Collateral Registry (STCR).IFC would like to conduct a legal assessment and requires the services of a legal advisor (¡°Consulting Firm¡±) to:*assess the existing legal and regulatory framework relevant to credit infrastructure in Somalia.*identify gaps and recommend legal reforms to enable the establishment of a credit information system (CIS) and secured transactions and movable collateral registry (STCR).*ensure alignment with international standards and best practices; including the General Principles for Credit Reporting and the UNCITRAL Model Law