About Karandaaz:
KARANDAAZ PAKISTAN, a not-for-profit company established in 2014 and registered with the Securities and Exchange Commission of Pakistan under section 42, is promoting access to finance for small businesses through commercially directed investments and financial inclusion of individuals by
leveraging technology-enabled solutions and platforms. Karandaaz Pakistan operates through four
program verticals:
• Karandaaz Capital provides wholesale structured credit and equity-linked direct growth capital
investments in micro, small and mid-size enterprises (MSMEs) with compelling prospects for
sustainable growth and employment generation in Pakistan
• Karandaaz Digital focuses on expanding access to digital financial services in Pakistan by
working across the ecosystem with all stakeholders including regulators, policy-makers,
government departments, businesses and researchers and academics in four key work areas:
policy and regulation, seeding innovation, experimentation and solutions development, and
scale and outreach.
• Karandaaz Innovation provides risk capital and technical assistance to support innovative and
practicable solutions aimed at financial inclusion and entrepreneurship. The Women Ventures
business line provides business development support and growth capital to women-led
businesses to facilitate their expansion and scale-up.
• Karandaaz Research & Insights supports the company’s core objectives by developing and
disseminating evidence-based insights and solutions to inform and influence markets and the
financial ecosystem.
Project Background and Rationale:
Karandaaz Pakistan requires an efficient and cost-effective AML/CFT screening solution to comply with its donor-mandated and regulatory obligations under its approved AML/CFT Policy. The solution must deliver accurate, real-time screening of sanctions, PEPs, and adverse media while minimizing false positives and operational costs.

Project Scope of Work
The AML/CFT solution must perform screening across all Karandaaz Pakistan’s operational areas, including loans, investments, grants, supplier/vendor payments and staff hirings. It is applied to individuals and entities both. The solution must screen against following Karandaaz Pakistan’s blacklist:

i. HM Treasury’s Office of Financial Sanctions Implementation – Financial sanctions: consolidated
list of targets
ii. UK Home Office – Proscribed terrorist groups or organisations
iii. European Union – Consolidated list of sanctions
iv. United Nations – United Nations Security Council Sanctions List
v. World Bank – World Bank Listing of Ineligible Firms & Individuals
vi. Parties on US Treasury’s Office of Foreign Assets Control (OFAC) List of Specially Designated Nationals and Blocked Persons

vii. Parties operating in countries against which US maintains embargo
viii. French DG Trésor Freeze Register Sanctions List
ix. List of Proscribed organizations/persons updated by National Counter Terrorism Authority (NACTA)

The AML/CFT screening solution must generate detailed screening reports in PDF format, capturing all critical compliance information. These reports shall include the screened party's name, type
(individual/entity), and identification number; the screening timestamp and latest data update
timestamp; ID and name match results against all designated sanctions lists; and a dedicated section
for compliance officer remarks with their determination (clear/match/false positive).
The AML/CFT screening solution must support four (4) authorized users with simultaneous 24/7 access
through secure, role-based logins (compliance officer, analyst, administrator, and auditor), while
maintaining 99.5% uptime. The system shall process 2,000+ screening reports annually. Vendors must
demonstrate this capacity during UAT and implement automated alerts when reaching 80% of annual
screening volume. All access and screening activities will be logged for audit purposes.
Required Expertise and Competencies.
The ideal vendor will bring the following key elements:
• Minimum 3 successful deployments of AML/CFT screening systems (preferably in Pakistan or
similar regulatory environments) with client references
• Real-time/batch screening against all aforementioned blacklists (OFAC, UN, NACTA, etc.)
• Fuzzy matching for name variations and transliterations
• Automated PDF report generation with required fields (timestamps, match results, officer
remarks)
• Role-based access control for 4 users
• Familiarity with FATF recommendations, and NACTA and donor requirements
• Experience updating and integrating proscribed lists from global and local authorities
• Ability to process 2,000 annual screenings
• 24/7 technical assistance with ≤4-hour response time for critical issues
• Proven methodology to deliver the solution within 2 weeks post-award
• Structured training programs for users

 The Bidder:
Karandaaz intends to solicit proposals from consultancy firms and/or consortiums. The bidder may be
nationally or internationally based; however, international bidders must have a local presence in the
form of a partner or be registered in Pakistan, have a valid National Tax Number (NTN), and can travel
and work across Pakistan.
• Individuals who are nationals, permanent residents of India or Israel, or who originate from
India or Israel will not be engaged for the project team or project steering team.
• Bidders which are based in India and/or Israel or in countries against which the U.S.
maintains a comprehensive embargo are not eligible to participate in the RFP.
• The successful bidder must comply with all relevant laws, rules and regulations prevailing
under Pakistani Laws.
• The responses submitted by the bidder to the RFP represents a firm offer to contract on
the terms and condition described herein.

• The proposal must be signed by the authorized person, according to the laws of the
jurisdiction of its incorporation/registration and according to the laws of Pakistan, to
commit the bidder to the terms and conditions of the RFP, who shall have full authority
to sign the proposal documents on behalf of all the bidders/members of the joint venture.
• The bidder must disclose at the earliest of any actual or potential conflict of interest with
Karandaaz Pakistan as referenced above.
• The members of the joint venture shall be jointly and severally liable to Karandaaz
Pakistan for the execution of the Project in accordance with the terms of the RFP
document and a statement to this effect shall be included in the joint venture agreement,
which should be submitted with the Proposal.
• The bidder shall be deemed to have carefully examined the RFP document to its
satisfaction. Any lack of information shall not in any way relive the bidder of its
responsibility to fulfil their obligations under the RFP.