DT Global works in partnership with communities, governments, and the private sector to deliver innovative solutions that transform lives. DT Global - launched in 2019 - is built on legacy companies AECOM’s International Development Services Sector, Development Transformations, IMC Worldwide, and Cardno International Development. To fulfill its profit-for-purpose mission, DT Global is a key donor to the DT Institute, an independent not-for-profit organization, in support of DTI’s efforts to test new ideas or expand on donor partner priorities to improve as many lives as possible.
Our global team of 2,500 staff and experts work in over 90 countries. We bring over 60 years of experience, relationships, and technical excellence to improve lives on behalf of our partners, clients, and stakeholders. We aim to maximize sustainable development impact across a wide range of practice areas, including Conflict Prevention, Stabilization & Transition; Economic Growth; Environment & Infrastructure; Governance; and Human Development. Together, we aim to positively impact 500 million lives by 2045.
Activity background
DT Global is a fast-growing international development company that focuses on improving the capability, capacity, and effectiveness of development programming in complex global environments. DT Global was recently awarded the 5-year USAID-funded Investment Promotion and Access to Finance Activity in Kosovo (hereinafter “Activity”). The Activity aims to strengthen the private sector’s capacity to deliver sustainable economic growth through two mutually re-enforcing objectives: 1) attracting and promoting investment; and 2) increasing access and utilization of diversified finance. By achieving these two objectives, the Activity will strengthen the resiliency of the private sector, create productive jobs, increase exports, and enable firms to adopt new technologies and business practices.
Assignment background
DT Global is seeking a Short-Term Technical Assistance (STTA) Expert to draft certain provisions of the draft Law on Business Organizations (hereinafter “Draft Law”) regarding the issuance of securities.
The Activity is currently providing technical assistance to the Ministry of Finance to draft the Concept Document for Developing the Legal Framework for Capital Markets in Kosovo. As part of its broader support to the Government of Kosovo (GOK) on capital market development, the Activity recently identified an opportunity to provide legal technical assistance to the Ministry of Industry, Entrepreneurship and Trade (MIET) to draft certain provisions of the Draft Law which govern the issuance of securities by companies.
As background, the current regulatory framework regarding the issuance of securities in Kosovo is limited to the Law No. 06/L016 on Business Organizations and the Law No.04/L-077 on Obligational Relationships. Article 139 of the Law No. 06/L-016 on Business Organizations (hereinafter “the Law’’) states that a joint stock company (JSC) may create or issue securities other than shares such as bonds and securities that are convertible into shares, and options to acquire shares. However, the Law lacks relevant provisions which contribute to legal certainty and investor protection.
Taking note of these legal gaps, the Activity is seeking to engage an STTA who will draft new provisions for the Draft Law on Business Organizations which include but are not limited to the definition of bonds, rules related to issuance, registration and transfer of debt securities, repurchase of securities by the issuers, representation of and decision-making by the holders of securities, and other rules, in line with international best practices.
Name of Position: Short Term Expert on Corporate Securities (hereinafter “Expert”)
General Responsibilities
The general responsibilities of the Expert include:
1. Conduct an analysis of the current legal framework regarding the issuance of securities by companies in Kosovo (Law No. 06/L016 on Business Organizations and Law No.04/L-077 on Obligational Relationships).
2. Identify legal gaps within the Law No. 06/L016 on Business Organizations regarding issuance of securities by companies.
3. Draft and present the legal gap analysis.
4. Draft the legal provisions of the Draft Law on Business Organizations on the issuance of securities by companies which contribute to legal certainty and protection of investors in the capital markets.
5. Present the drafted provisions to the relevant working group, including addressing their feedback.
Specific Tasks and Responsibilities
The specific tasks of the Expert include:
1. Review the current legal and regulatory framework regarding the issuance of securities by companies in Kosovo.
2. Analyze the EU legal framework (if relevant), international best practices, and standards regarding the issuance of securities by companies.
3. Draft and present to the Activity the legal gap analysis which lays out what legal provisions are missing in the current legal and regulatory framework regarding the issuance of securities by companies in Kosovo.
4. Draft the legal provisions of the Draft Law on Business Organizations which regulate the issuance of securities by companies including but not limited to provisions which define bonds, specify rules related to issuance, registration and transfer of debt securities, repurchase of securities by the issuers, representation of and decision-making by the holders of securities, and overall rules that contribute to legal certainty and protection of investors. The STTA in cooperation with the Activity’s Legal and Regulatory Reform Lead and the working group shall ensure that proposed provisions are not in contradiction with the applicable legal framework in Kosovo.
5. Present the drafted provisions to the working group established by the Ministry of Industry, Entrepreneurship and Trade.
6. Review any input provided by the working group on the drafted provisions and address the feedback, as applicable.
Key Deliverables & Percentage of Payment
Deliverables
Percentage of Payment
Minimum Education Requirements: University degree in a relevant field.
Minimum Professional Experience
Period of Performance November 2023 – December 2023
Remuneration The Expert will be remunerated based on the achievement of the key deliverables outlined above.
Supervisor Legal and Regulatory Reform Lead and Diversified Finance Lead
Supervisory Role None
To apply please submit a CV in English to recruitIPAF@dt-global.com. Please include the position you are applying for in the email subject line. Application deadline is November 13, 2023.
Core Competencies:
TEAMWORK: Works cooperatively and effectively with others to achieve common goals. Participates in building a culture characterized by inclusion, trust and commitment.
COMMUNICATION: Effectively conveys information and expresses thoughts professionally. Demonstrates effective use of listening skills and displays openness to other people’s ideas and thoughts.
ADAPTABILITY: Adjusts planned work by gathering relevant information and applying critical thinking to address multiple demands and competing priorities in a changing environment.
CUSTOMER/CLIENT FOCUSED: Anticipates, monitors and meets the needs of customers and responds to them in an appropriate and responsive manner.
DIVERSITY AND INCLUSION: Conveys respect for diverse individuals and perspectives; models inclusive behavior and treats everyone fairly.
PROFESSIONALISM: Displays appropriate and ethical behavior, integrity and personal presentation in the workplace always; demonstrates respectful communication for others, both verbal and non-verbal.
We thank all applicants for their interest. Only short-listed candidates will be contacted.
DT Global, LLC is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, veteran status, gender identity, or national origin. DT Global, LLC prohibits discriminating against employees and job applicants who inquire about, discuss, or disclose the compensation of the employee or applicant or another employee or applicant.
DT Global works in partnership with communities, governments, and the private sector to deliver innovative solutions that transform lives. DT Global - launched in 2019 - is built on legacy companies AECOM’s International Development Services Sector, Development Transformations, IMC Worldwide, and Cardno International Development. To fulfill its profit-for-purpose mission, DT Global is a key donor to the DT Institute, an independent not-for-profit organization, in support of DTI’s efforts to test new ideas or expand on donor partner priorities to improve as many lives as possible.
Our global team of 2,500 staff and experts work in over 90 countries. We bring over 60 years of experience, relationships, and technical excellence to improve lives on behalf of our partners, clients, and stakeholders. We aim to maximize sustainable development impact across a wide range of practice areas, including Conflict Prevention, Stabilization & Transition; Economic Growth; Environment & Infrastructure; Governance; and Human Development. Together, we aim to positively impact 500 million lives by 2045.
